What Will you read?

In this article, You will read about one of the Cowswap dex called Sushiswap. Take a look at the total transactions that interacted with the CoW settlement contract on ETH Mainnet that also used Sushiswap as part of the execution.

So all data from this presentation is from Cowswap's inception and You will read about Cowswap activity only on Ethereum Network.

What is Cowswap?

CowSwap is the first trading interface built on top of CoW Protocol v2. It allows you to buy and sell tokens using gas-less orders that are settled peer-to-peer among its users or into any on-chain liquidity source while providing MEV protection.

Method

Cowswap Sushi swaps

About 16K of Cowswap transactions that interacted with the CoW settlement contract on ETH Mainnet also used Sushiswap as part of the execution since 2022-01-01.

Share of tokens that swapped with Coswap sushi route

Which tokens swapped most with Cowswap-sushi?

• WETH is the most token that swapped with Cowswap that also go Sushi route with 43%.

• The second place is USDC with 17%.

• The third place is CVX with 7% of Coswap sushi swaps.

Why might they have done so?

Dex, like Cowswap, finds the best route to provide less gas for users. When users try Cowswap to swap their assets, If Sushiswap offers less gas fee and exchange rate rather the others, Cowswap chose Sushi instead the others.

I find all transactions that interacted with the CoW settlement contract on ETH Mainnet that used Sushiswap as part of the execution. I put the Cowswap contract as from address and set Sushiswap as a platform. Then calculated total swaps of Coswap. Compare total Cowswaps with Cowswap sushi transactions. How many percentages of Cowswap swaps going through Sushiswap? Let's find out.

The below chart shows the total number of Cowswaps Vs. the total number of Cowswap sushi transactions since 2022-01-01. The orange area is the total number of Cowswaps and the blue area is the total number of Coswap swaps that go through Sushiswap.

You can always understand charts with percentages. The Below chart shows the rate of Cowswap sushi swaps compared to total Cowswap swaps. There are too many up and down. The highest amount per day happened on January, 1st 2022 and the lowest number of swaps happened on April 21st, 2022.

Thank you for reading!

Written by hess

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twitter_id: @hessaminanloo