Daily Stats

Total Stats

Swapping data on Optimism started on May 12th. So for better comparison, all data from Ethereum and Optimism are limited to after that date.

Swap volume and number share comparison

Fees

Top 5 Swaps / Assets swapped from and swapped to

Swap distribution

Summary

• Swap volume, swap counts, swappers, and the average swap volume on Ethereum and Optimism have so many differences that can not be compared. Sushiswap is not popular on optimism, I compared 3 different DAXs on Optimism on my other dashboard; for more information about DEXs on Optimism, please read that.

• On average, $14.2 is paid as a transaction fee on Ethereum for each swap transaction, while on Optimism, only 44 cents is paid as a transaction fee (on average).

• While $14.2 is the average fee paid on Ethereum for a single swap, it justifies why small amounts of swaps on Ethereum are not economic, while on Optimism, with fees less than 44 cents on average (1/32 of Ethereum fees), small amount of swaps are economic.

• WETH, USDC, USDT, and DAI are the most popular tokens (swapped to and from) on Ethereum.

• WETH, USDC, OP and DAI are the most popular tokens (swapped to and from) on Optimism.

By swap volume

Introduction

In this dashboard, we will compare Sushiswap DEX on Ethereum VS. Optimism

Dashboard Sections

• Swap volume and number share comparison
  • A logarithmic comparison of swap volume and swap counts of Sushiswap on Ethereum and Optimism
• Total Stats
  • Total swap volume - On Ethereum and Optimism
  • Total swaps - On Ethereum and Optimism
  • Total swappers - On Ethereum and Optimism
  • Average volume swapped - On Ethereum and Optimism
• Daily Stats
  • Daily value of metrics of the previous section
• Fees
  • Average fees paid on Ethereum/Optimism for a single swap
  • Daily average of fees paid per swap
• Swap Value Distribution
  • Distribution of swaps by swap volume and swap numbers - 2 categories
• Top 5 Swaps / Assets swapped from and swapped to
  • Top 5 swap directions on each chain
  • Top 5 assets swapped from and swapped to by swap volume and swap counts
• Summary
  • Summary of findings
• Methodology
  • Methods used in the dashboard

• Sushiswap on Ethereum and Optimisim are very different in terms of metrics, Ethereum metrics are much higher than Optimism’s:
• Total volume: 3660X
• Total swaps: 106X
• Total swappers: 48X
• Average volume swapped: 80X

• Sushiswap on Ethereum showed a downtrend in daily swap volume,  swap counts, and swappers. On optimism, after June 1st, swap volume, swap counts, and swappers decreased and then started to increase slightly in late July.

• On average, $14.2 is paid as a transaction fee on Ethereum for each swap transaction, while on Optimism, only 44 cents is paid as a transaction fee (on average).

• The daily average fees paid per swap shows that the transaction fees paid was decreased. The transaction fee mainly depends on network status and gas fee which decreased in that period.

By swap counts

• More than 68% of swap transactions on Optimism are transactions with less than $10 worth of transactions, while only 3.1% of swap volume belongs to these transactions on Optimism.

• 18.6% of swap transactions on Ethereum are transactions with more than $5,000 worth of transactions, while 77% of swap volume belongs to these transactions on Ethereum.

• While $14.2 is the average fee paid on Ethereum for a single swap, it justifies why small amounts of swaps on Ethereum are not economic, while on Optimism, with fees less than 44 cents on average (1/32 of Ethereum fees), small amount of swaps are economic.

• On Ethereum, WETH<>USDC and WETH<>USDT swaps are the most popular in terms of swap volume and swap counts. 

• WETH, USDC, USDT, and DAI are the most popular tokens (swapped to and from) on Ethereum.

• WETH<>OP are the most popular swaps on Optimism in terms of swap volume, but in terms of the swap counts, USDC<>WETH are most popular. 

• WETH, USDC, OP and DAI are the most popular tokens (swapped to and from) on Optimism.

Methodology

• Sushiswap on Ethereum swaps were extracted from ethereum.sushi.ez_swaps table. Sushiswap on Optimism swaps were extracted from optimism.sushi.ez_swaps table.
• Transaction fees were extracted from ethereum.core.fact_transactions table. The hourly price of transaction fee were calculated by using Ethereum.core.fact_hourly_token_prices table.
• Two categories were considered for swap distributions:
  • Category1: less than $10 / 10-50$ / 50-200$ / 200-500$ / 500-1,000$ / 1,000-2,000$ / 2,000-5,000$ / More than 5,000$
  • Category2: less than $500 / 500-1,000$ / 1,000-5,000$ / 5,000-10,000$ / 10,000-50,000$ / More than 50,000$