Sushi's Contribution to Polygon growth
How has Sushi Played a role in Polygon's growth?
With Ethereum's increasing gas fees in recent times, Polygon has become the go-to chain for many users as gas costs are just a fraction of a cent. This has persuaded a lot of decentralized finance (DeFi) applications to also launch on Polygon with the list including Uniswap, Aave, and Sushiswap among others.
In this publication, we want to know how Sushiswap has contributed to the growth of the Polygon ecosystem. To measure Sushi's impact we have to look at wallets that got onboarded mainly because of Sushi, and we can know this by looking at a wallet's first interaction. If a wallet's first interaction was on Sushi, we can certainly be sure.
The chart below shows the number of Polygon wallets since May, whose first transaction was on Sushi (either swapping or depositing into bento box). We can see that there are days with 0 (zero) and days with 48.9k users. Overall, we can speculate the daily average to be about 20k.
We need the daily average of new users coming into the Polygon ecosystem because of Sushi to compare it to the overall ecosystem. With that, we can calculate in absolute terms, the impact of Sushi on Polygon's growth.
Let's take a look at the area chart below which shows the daily unique wallets that are transactions on Polygon. The period is from May 1, 2022, to the present. We can see that there were some low days where we had 13k unique users and some high days with 433k unique users. Overall, we can speculate a daily average of 200k daily unique wallets.
With 200k ecosystem-wide daily unique wallets and 20k with the first transaction on Sushi, we can calculate Sushi's impact on Polygon as a percentage by using the formula (20K/200k)*100
which gives us 20%. Therefore, we can fairly conclude that the launch of Sushi on Polygon has contributed to about 20% of Polygon's growth.