Sushi Xswap Revenue

    In this dashboard, let's take a quick look at the collaboration between SushiSwap and Stargate, and in particular, the volume of transfers made and the revenue generated by the two platforms from this joint collaboration.

    On March 22, Sushi received a proposal from the user community asking SushiSwap to use the infrastructure provided by Stargate to exchange native tokens between different networks.

    This proposal was eventually accepted and in the last few months this feature has been added into SushiSwap.

    What is Stargate Finance?

    Stargate is a fully composable liquidity transport protocol that lives at the heart of Omnichain DeFi.

    With Stargate, users and Dapps can transfer native assets cross-chain while accessing the protocol’s unified liquidity pools with instant guaranteed finality.

    Stargate swaps 1:1 native assets cross-chain, accessing Stargate’s unified liquidity pools. Basically the transfer submitted on the source chain is guaranteed on the destination chain.

    Gone are the days, when you are bridging and the transaction fails due to liquidity issues or wrapped token issues. Better still, you are getting a native asset, not a synthetic wrapped one.

    Given this issue, let's take a brief look at this collaboration in this dashboard and find an appropriate answer to these questions:

    Each crosschain swap transaction includes a minimum of two regular swaps and one bridge.

    • How much fee in total do sushi Xswap users pay per transaction?
    • What part of that goes to sushi, what part goes to stargate and what part goes to miners? (stargate does the - bridging for sushi and its usually a stable coin that gets bridged)
    • Chart sushi’s revenue per month from Xswap?
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    Technical Details

    To find the transfer volume between the two blockchain layers on SushiSwap and [the layerZero platform](https://To find the transfer volume between the two blockchain layers on SushiSwap and the layerZero platform, we found all the transactions that originated from SushiSwap and used the Stargate router and swap of this platform. The details of this problem can be seen in the SQL codes, and the photos below show much of the extracted information.), we found all the transactions that originated from SushiSwap and used the Stargate router and the swap functionality of this platform.

    The details of this problem can be seen in the SQL codes, and the photos below show much of the extracted information.

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    Analysis of Swap Volume

    In the first part of the analysis, we will look at the volume of transfers on the LayerZero platform, which is Stargate's main infrastructure for sending messages between two blockchains. We want to see what the daily transfer volume is for each of the six main blockchains (Fantom data, as the seventh network is not yet supported by Flipside) and how many users use this feature.

    Key Findings

    • The volume of cryptocurrency transferred from Arbitrum and flowing into Ethereum is so large that more than half of the transfers made on layerZero on SushiSwap originate from Arbitrum.
    • The Polygan network was the destination of about 16% of the volume of cryptocurrency transfers, which ranks third after Arbitrum with 18% and Ethereum with 54%. While the volume of transfer from the origin of Polygan is only five percent.
    • Optimism has assigned a very low volume in these transfers.
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    Fee Analysis: SushiSwap/Stargate Incomes

    In the last step of this analysis, we will examine the amount of income generated by the two platforms SushiSwap and Stargate from inter-blockchain exchange collaboration.

    Stargate Fees

    Stargate fee is calculated by : lp_fee + protocol_fee + Equilibrium_Fee + Equilibrium_Reward as total_fee

    SushiSwap Fee

    > Every trade executed on Sushiswap is charged 0.3% fees of total trading value.

    For this reason, for all transactions, the amount transferred was multiplied by 0.003 to determine the amount of SushiSwap's profit from inter-blockchain transactions.

    ==For the analysis of the miners' income, it is enough to get the transaction costs from the main tables of FACT_TRANSACTIONS, but in order to calculate this value accurately, the cost of inter-network transfer and gas in the destination network should also be calculated, and with the available data this was almost impossible. thus this part of the question was omitted==.

    Takeaway

    • The total revenue of SushiSwap was about 5000 dollars.
    • Stargate's revenue was about half that of the Exchange, or about $2400.
    • This revenue is tiny compared to the roughly $2 billion transferred, and that bodes well for the booming future of the Stargate and SushiSwap partnership. Because it leads to significant economic savings for users and increases the speed of transaction finalization.