Sushiswap - 2. DEX Aggregator
==Number swaps in SushiSwap==
- In the first column graph we have the top 5 Sushiswap pools based on number of swaps, as you can see USDC-WETH SLP is in the first spot with over 1M swaps.
- Looking at the daily number of swaps in the following graph you can see that the pools swaps usually oscillated between 1000 to 3000 daily throughout the entire graph except for Nov 8th until Nov 11th of 2022 which we experienced a massive rise in the number of swaps and we reached a peak of 6000 on Nov 8th.
- Looking at the daily number of swaps in Sushiswap’s graph, On Sep 5th Sushiswap started at 7.5k and rose to almost 15k on Sep 17th, after dropping to 3k on Oct 9th the number of swaps went up to 17k on Nov 9th of 2022 (which is the highest peak in the entire graph). After Nov 9th only Nov 20th had experienced another jump and then the trend kept dropping until Jan 1st and stopped at almost 4k. Number of swaps oscillated their way to 7.6k on Mar 3rd of 2022.
- In the pie chart we can see the swaps distributed based on size of the swap volume, the biggest segment which concludes almost 40% of the chart belongs to swaps worth of $1000-$50000 and the smallest segment is showing swaps more than $50k and they are about 5% of the entire chart.
- The final graph is showing the same graph as the daily number of swaps in Sushiswap except it is broke down into different segments that will show the volume of swaps.
==Volume swaps in SushiSwap==
- We have shown the top 5 pools based on the number of swaps in the first section now we have top 5 Sushiswap pools based on volume of swaps in the first column graph bellow.
- Looking at the daily volume of swaps in the top 5 Sushiswap pools we can see the volume of swaps usually was a number between 1M to 17M throughout the entire graph but during Nov 8th till Nov 11th we experienced breaking through the ceiling of 50M as you can see(same time span of the most number of swaps in the previous section).
- Looking at the final graph in the second row we can see the daily volume of swaps in sushi swap which has experienced the same jump on the same days mentioned in the last lines, after the start of 2023 and moving forward from Jan 6th we can see the average’s of volume going up after they dropped moving forward from Nov 8th of 2022.
==Number swappers in SushiSwap==
- The top 5 Sushiswaps pools based on number of swappers show USDC-WETH SLP in the first spot with over 270k swappers.
- The daily number of swappers in the top 5 sushiswaps pools show the same drop in the average number of swappers after Nov 8th of 2022 until the end of year 2022, after that at the beginning of 2023 we can see the number of swappers going up again and we reached the peak of swappers during 2023 on Feb 2nd.
- In all of the graphs related to the swaps in this dashboard we can see the numbers going high up during Nov 8th till Nov 11th and this was probably because of the FTX insolvency during that time and the panic of users. Looking at the daily number of swappers in Sushiswap bellow we can see the highest peak of swappers on Nov 9th of 2022 which broke the ceiling of 5k swappers and we still haven’t been able to break that ceiling again.
- In the pie chart bellow we have the number of swappers distributed based on the volume of swaps and the biggest segment which makes almost 25% of the entire chart belongs to swaps worth $1000-$50k.
==1Inch and Matcha Info==
- The final section in front of us is showing information about the daily number of swaps, swappers and amount of swap volumes in 1Inch and Matcha. In the first graph we can see the number of swaps started to massively rise after Dec 5th and they reached above 5.1k on Feb 16th of 2023, the number of swaps vibrated and stopped at over 4k on Mar 3rd of 2023 as you can see. Based on the info’s about the number of swaps by platform we can see that most of these swaps were made by Uniswap-v3.
- Looking at the volumes we cans see Feb 18th with a tremendous amount of volume standing out of the other days (with over 1.2B worth of volume) and based on the platforms info almost 16M of these volumes happened on Balancer and more than 10M happened on Uniswap-v3.
- Same as the number of swaps we can see the number of swappers also started to rise after Jan 5th of 2023, and reached the highest number on Feb 13th of 2023 and same as the number of swaps most of these swappers are from the Uniswap-v3 platform.
Conclusion:
We are 3 month through the year 2023 and still have not forgot about the disasters of the FTX insolvency (which is not the point of the question here but I will mention it in my conclusion later).
We can see the situation of the top 5 pools of Sushiswap based on number of swaps, swappers and the volume of swaps in the earlier sections of this dashboard, looking at the numbers we can see after the FTX event they dropped down in average so much through the rest of 2022 but all of the pools and swap information started to rise back up by slowly moving forward from January of 2023. With USDC-WETH SLP at the center of these pools we can see the highest number of swaps, swappers and volume belong to this pool. I will compare the sushiswap’s volumes to the volume of 1INCH and Matcha from the final section.
All the information indicates the recovery of these platforms slowly from last years incident as we are going through 2023, looking at the volume of sushiswap in the second section we can see the peak of volume reached on Feb 28th and Sushiswap broke the ceiling of 22M while on Feb 18th of 2023 Matcha and 1Inch reached a much higher peak with even less number of swappers (almost 750) but the number of swappers on Feb 28th in Sushiswap platform were 3700. The number of swaps of Sushiswap are much more than number of swaps of matcha and 1Inch as you can see the swaps of matcha and 1Inch had way more volume even though they had less swappers and less number of swaps.
Appendix
- Author: Hojjat
- Discord: hojjat7878#8809
- Twitter: @hojjat8d
- Email: hojjat78delshad@gmail.com
==Thanks to sbhn_np87 for the 1Inch and Matcha contracts==
THANK YOU FOR READING!
Method
- This dashboard contains 4 parts:
==Number swaps in SushiSwap== & ==Volume swaps in SushiSwap== & ==Number swappers in SushiSwap== & ==1Inch and Matcha Info==
- The following tables were used to create this dashboard:
ethereum.core.ez_dex_swaps
& ethereum.core.fact_event_logs
- The addresses of the following contracts were used to create this dashboard:
0x1111111254EEB25477B68fb85Ed929f73A960582 & 0x11111112542D85B3EF69AE05771c2dCCff4fAa26 & 0x1111111254fb6c44bAC0beD2854e76F90643097d & 0x111111125434b319222CdBf8C261674aDB56F3ae & 0xDef1C0ded9bec7F1a1670819833240f027b25EfF
Question
Sushi just recently announced its entrance into the DEX aggregator business. The intent is to drive better prices for consumers and build deeper liquidity pools.
What is the current state of Sushi's top 5 liquidity pools?
Chart how volume, number of users, and other metrics have changed over the past 6 months.
Furthermore, analyze what Sushi's competition will look like in the aggregator business. How does volume compare to other aggregators like 1inch and Matcha?
What is SushiSwap?
SushiSwap is a software running on Ethereum that seeks to incentivize a network of users to operate a platform where users can buy and sell crypto assets.
Similar to platforms like Uniswap and Balancer, SushiSwap uses a collection of liquidity pools to achieve this goal. Users first lock up assets into smart contracts, and traders then buy and sell cryptocurrencies from those pools, swapping out one token for another.
One of a growing number of decentralized finance (DeFi) platforms, SushiSwap allows users to trade cryptocurrencies without the need for a central operator administrator.
This means that decisions relating to the SushiSwap software are made by holders of its native cryptocurrency, SUSHI. Anyone holding a balance of the asset can propose changes to how it operates, and can vote on submitted proposals by other users.
read more :

What is 1inch?
1inch is a decentralized exchange aggregator that aims to provide traders with the best price and lowest fees on their transaction.
Decentralized exchanges (DEXs) are part of the decentralized finance (DeFi) ecosystem that allow traders to exchange crypto assets without an intermediary executing the order, custodying funds or otherwise overseeing the transaction. DEXs allow traders to maintain custody over their funds in their wallets, without the need to share personal identifying information.
At any given time across decentralized exchanges, prices and transaction fees can vary significantly. Rather than having to manually check and compare prices across exchanges, 1inch collects the real time pricing data from various DEXs to allow traders to identify the optimal price across the market and capture the trading opportunity within a single platform.
Some of the popular exchanges that 1inch aggregates data from are Uniswap, SushiSwap, 0x, Kyber Network and Balancer.
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What is Matcha?
Matcha is a crypto trading platform powered by 0x Labs. We are a decentralized exchange, or DEX, meaning that users swap their tokens peer-to-peer through the Ethereum smart contract infrastructure. You retain complete custody of your tokens throughout the entire trading process.
We also aggregate the best prices across a growing number of liquidity sources to maximize the value you receive on every trade. Also, unlike some other DEX aggregators, Matcha transparently displays all costs/fees associated with trades, and we will never keep the difference between quoted and realized prices.
Learn more about the benefits of using a DEX here and how we’re able to offer the best prices here.
read more :
