Introduction and methods

Sushiswap is one of the most important DEX platforms launched on Ethereum. One of the current disadvantages lile any other Ethereum based platforms are the cost of do a transaction on it, basically due to network congestion and Ethereum price.

Currently, the transaction fee on SushiSwap is approximately 0.30% of the trading amount. Within this, Liquidity Providers receive 0.25% and the rest of 0.05% to SUSHI token holders who staked in the SushiBar (farm xSUSHI).

In this dashboard we are gonna cslculate how much fees has been paid over 2022 and we will compre it with the price of Ethereum.

Results

It can be seen in this first chart how the amount of paid fees was higher during the first days of the year. However from February to May, the volume in fees decreased. Because of UST depegging on Terra, what caused market volstility, the smount in fees spiked again due to more volume was moved during that days

Finally, taking a look at the correlation between ETH price and the gas paid on Sushiswap we cannot determine a significant relationship. Howrver, lookimg at the first chart, it can be seen a similar trends if we don’t consider the UST depegging days.

Key insights

• The Sushiswap paid fees volume was higher during January than the rest of the months
• The paid fees spiked during the UST depegging
• There is no a significant correlation between ETH price and gas paid fees on Sushiswap, vut it could be caused by the missmatches during the UST depegging.