What is Optimism?

Optimism is a layer 2 chain, meaning it functions on top of Ethereum mainnet (layer 1). Transactions take place on Optimism, but the data about transactions get posted to mainnet where they are validated. It’s like driving in a less crowded side street while benefiting from the security of a highway.

Introduction:

The purpose of this dashboard is to compare three of Optimism's most popular decks from different aspects. The desired decks are SushiSwap, UniSwap, and Velodrome.

All charts are set to the last 30 days. You can set it to the last 60 or 90 days from the top menu.

The below chart show the number of successful swap transactions per day on each Optimism DEX.

As you can see:

• The number of swap transactions is stable on SushiSwap and UniSwap but decreasing on Velodrome over the past month (based on 7-days moving average).
• The cumulative chart shows us the cumulative number of swap transactions on Velodrome is more than other DEXs. UniSwap follows it with a relatively small distance. SushiSwap is in third place by a long distance from them.
• The daily number of swap transactions in all DEXs shows us that SushiSwap transactions can be ignored compared to the rest.

The below charts show the number of unique swappers that made successful transactions per day on each Optimism DEX.

I should mention that:

To show cumulative unique swappers, I used min(block_timestamp) for ignoring frequent users.

New users are those who register their first transaction on the platform. To show the cumulative of them, I acted similar to what I did to show a cumulative of unique swappers.

As you can see:

• The number of unique swappers doesn’t have any notable change on SushiSwap and UniSwap but increased on Velodrome over the past month (based on 7-days moving average).
• The cumulative unique swappers chart shows us the cumulative number of unique swappers on Velodrome is more than other DEXs.
• The number of new users on Velodrome is more than twice of UniSwap. SushiSwap follows it. UniSwap is in third place by a long distance from them.
• New people prefer to use Velodrome over other DEXs in Optimism.

The below charts show the volume of swap transactions per day on each Optimism DEX.

As you can see:

• The volume of swap transactions doesn’t have any notable change in all three DEXs over the past month (based on 7-days moving average).
• The cumulative chart shows us the cumulative volume of swap transactions on Velodrome is more than other DEXs. UniSwap follows it with a relatively small distance. SushiSwap is in third place by a long distance from them.
• The daily volume of swap transactions in all DEXs shows us that SushiSwap transactions can be ignored compared to the rest.

The below charts show the total fee of swap transactions per day on each Optimism DEX. The y-axis of all charts is $ETH.

As you can see:

• The daily fee of swap transactions is increasing on all three DEXs over the past month (based on 7-days moving average).
• The cumulative chart shows us the cumulative daily fee of swap transactions on Velodrome is much more than other DEXs. Uniswap and SuShiSwap are in the next places, respectively.
• The daily total fee of swap transactions in all DEXs shows us that SushiSwap and UniSwap transactions can be ignored compared to the rest.

The below charts show the average fee of swap transactions per day on each Optimism DEX.

As you can see:

• The daily average fee of swap transactions is increasing all Optimism DEXs over the past month (based on 7-days moving average).
• The total average fee of swap transactions shows that SushiSwap has higher fee than other DEXs. Therefore, it can be said that we understood the reason for low swap transactions in SushiSwap compared to other DEXs in the Optimism network. The average fee of swap transactions on SushiSwap is three times of Velodrome and UniSwap fees.
• The daily average fee of swap transactions in all DEXs shows us that SushiSwap fees are higher than other DEXs on all days over the past month.

SushiSwap is a decentralized exchange (DEX) equipped with its own custom automated market maker (AMM) smart contracts. Created by Chef Nomi, SushiSwap runs on the Ethereum blockchain.

Decentralized exchanges offer a space for peer-to-peer transactions of cryptocurrencies to take place securely without the need for an intermediary, and being equipped with its own AMM means that a pricing algorithm is used to price assets instead of using an order book like traditional exchanges.

SushiSwap is a community-run DeFi project that aims to better align incentives for network participants through revenue-sharing and community-driven network effects.

References:

• its beautiful uniswap_ez_swaps table.

UniSwap was one of the first decentralized finance (or DeFi) and it pioneered the Automated Market Maker model, in which users supply Ethereum tokens to Uniswap “liquidity pools” and algorithms set market prices (as opposed to order books, which match bids and asks on a centralized exchange like Coinbase) based on supply and demand.

Some of the potential advantages of decentralized exchanges like Uniswap include:

• Safe: Funds are never transferred to any third party or generally subject to counterparty risk (i.e. trusting your assets with a custodian) because both parties are trading directly from their own wallets.

• Global and permissionless: There is no concept of borders, or restrictions on who can trade. Anyone with a smartphone and an internet connection can participate.

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Velodrome Finance is the liquidity base layer for the entire Optimism ecosystem. Launched in June 2022, it focuses on properly incentivizing liquidity for DeFi protocols.

Velodrome introduces several improvements to the Solidly ecosystem. These improvements include:

• Strapping Rewards to Emission – On Solidly, access to rewards is possible before emissions. Velodrome solves this by strapping rewards to emissions. This means that bribes deposited in an epoch will be made available to all voters of that particular epoch irrespective of the time the bribe was sent. This, in turn, will help facilitate much-needed equilibrium among voters and external bribers.
• White-Glove Support – Velodrome will provide its partners and stakeholders with much-needed support post-launch. To achieve this, Velodrome Finance assigns 3% of perpetual emissions to its team multi-sig.

These charts show the average and median swap size on each Optimism DEX.

As you can see the average and median size on UniSwap is much more than other DEXs.

This means most of the whales use UniSwap to swap their assets.

The below charts show the top swapping pairs in terms of number of swap transactions and volume of them on each Optimism DEX.

As you can see:

• USDC/WETH is the most popular swapping pair in terms of volume on UniSwap while this pair is in second place on Velodrome. Op/USDC is the most popular pair on SushiSwap and Velodrome.
• USDC/WETH is the most popular swapping pair in terms of count on SushiSwap and UniSwap while this pair is in second place on Velodrome. Op/USDC is the most popular pair on Velodrome.

The below charts show the top swapping from assets in terms of number of swap transactions and volume of them on each Optimism DEX.

The below charts show the top swapping to assets in terms of number of swap transactions and volume of them on each Optimism DEX.

As you can see:

• WETH is the most popular swapping from asset in terms of volume on SushiSwap and UniSwap While it is the third most popular one on Velodrome. The first popular swapping from asset on Velodrome is USDC while this is the second most popular one on UniSwap and third place on SushiSwap. The second most popular on Velodrome is OP while it is the second one on SushiSwap and the third one on UniSwap.
• USDC is the most popular swapping from asset in terms of count on Velodrome While it is the second most popular one on SushiSwap and UniSWap. The first popular swapping from asset on SushiSwap and UniSwap is WETH while this is the third most popular one on Velodrome.

As you can see:

• WETH is the most popular swapping to asset in terms of volume on SushiSwap and UniSwap While it is the third most popular one on Velodrome. The first popular swapping to asset on Velodrome is USDC while this is the third most popular one on SushiSwap and the second one UniSwap. The second most popular on Velodrome is OP while it is the second one on SushiSwap and third on UniSwap.
• USDC is the most popular swapping to asset in terms of count on Velodrome While it is the second most popular one on SushiSwap and UniSwap. The first popular swapping to asset on SushiSwap and UniSwap is WETH while this is the third most popular one on Velodrome.

Conclusion:

• The number of swap transactions on Velodrome is more than on other DEXs. UniSwap follows it with a relatively small distance. SushiSwap is in third place by a long distance from them.
• The number of unique swappers on Velodrome is more than on other DEXs. UniSwap and SushiSwap follow it by a long distance from them.
• The number of new users on Velodrome is more than on other DEXs. SushiSwap follows it. UniSwap is in third place by a long distance from them.
• The volume of swap transactions on Velodrome is more than on other DEXs. UniSwap follows it with a relatively small distance. UniSwap is in third place by a long distance from them.
• The total fee of swap transactions on Velodrome is much more than other DEXs. Uniswap and SuShiSwap are in the next places, respectively.
• The average fee of swap transactions on SushiSwap is higher than other DEXs. UniSwap and Velodrome are in the next places, respectively.
• The reason for low swap transactions in SushiSwap compared to other DEXs in the Optimism network is that the average fee of swap transactions on this DEX is three times of Velodrome and UniSwap fees.
• USDC/WETH is the most popular swapping pair in terms of volume on UniSwap. Op/USDC is the most popular pair on SushiSwap and Velodrome.
• USDC/WETH is the most popular swapping pair in terms of count on SushiSwap and UniSwap. Op/USDC is the most popular pair on Velodrome.
• WETH is the most popular swapping from asset in terms of volume on SushiSwap and UniSwap. The first popular swapping from asset on Velodrome is USDC.
• USDC is the most popular swapping from asset in terms of count on Velodrome. The first popular swapping from asset on SushiSwap and UniSwap is WETH.
• WETH is the most popular swapping to asset in terms of volume on SushiSwap and UniSwap. The first popular swapping to asset on Velodrome is USDC.
• USDC is the most popular swapping to asset in terms of count on Velodrome. The first popular swapping to asset on SushiSwap and UniSwap is WETH.

In this dashboard, we have tried to provide the following topics:

• Number of swap transactions
• Number of unique swappers
• Volume of swap transactions
• Fee of swaps transactions
• Size of swap transactions
• Top swapping pairs
• Top swapping from assets
• Top swapping to assets