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    SUSHI: Analysis of Stablecoins & Blockchains

    In this analysis, you will see: the overall stablecoin ecosystem of the Sushi platform, through which blockchain network the most stablecoins are traded on Sushi, and which stablecoin trades are led by the most famous blockchains.

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    Introduction

    -> Sushiswap is a decentralized cryptocurrency exchange (DEX) that runs on the Ethereum blockchain. It was launched in August 2020 as a fork of Uniswap, another popular DEX.

    -> Stablecoins are cryptocurrencies that are designed to maintain a stable value relative to a particular asset or basket of assets, such as the US dollar, gold, or a basket of cryptocurrencies. Stablecoins are often used as a means of payment or as a store of value, as they offer a way to hold cryptocurrency without the volatility typically associated with other cryptocurrencies.

    -> Sushiswap supports trading pairs that include stablecoins. For example, a user could trade USDC (a popular stablecoin pegged to the US dollar) for ETH on Sushiswap. This allows users to take advantage of the stability of stablecoins while still being able to trade them for other cryptocurrencies. Additionally, stablecoins can be used to provide liquidity on Sushiswap and earn rewards in the form of SUSHI tokens.

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    Overview: Stable Coins on Sushi

    Findings

    -> USDC is the most popular stablecoin on Sushi DEX in terms of both outflow and inflow trading volume and number of transactions. It accounts for 57% of both outflow and inflow trading and has the highest trading volume at 48% for outflow and 49% for inflow trades.

    -> USDT is the second most popular stablecoin on Sushi DEX, accounting for 25% of both outflow and inflow trading volume and number of transactions.

    -> DAI is the third most popular stablecoin on Sushi DEX, accounting for 14% of both outflow and inflow trading volume and number of transactions. It is the only stablecoin among the top three to have a similar share of outflow and inflow trading volume and number of transactions.

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