Introduction and methods

MetaMask is a web browser extension or plugin that allows users to easily interact with dApps on the Ethereum blockchain. This is possible, because MetaMask acts as a bridge between dApps and web browsers, facilitating the use and enjoyment of them. Thanks to this, users are able to easily use these distributed applications and everything in an integrated way from their favorite browser. With support for Firefox, Chrome, Opera, and Brave, MetaMask has brought the world of dApps closer to the general public.

In this dashboard we are gonna explore the amount of Metamask users that are swapping and we will compare the numbers with other platforms. We will track as well the volume swappped and the fees paid.

Results

In this first chart, we can see that 23% of the total swaps are done by Metamask users, with more than 1M of swaps done so far.

In terms of volume, Metamask represents almost 15% of the total volume swapped. If we take a look at the volume in and out, we can see how both Metamask users and other platform users presents negative net volume.

Comparing Metamaks with other platforms, in terms of volume transactions, it can be seen how in both cases the evolution is negative, losing some part of activity. From the beginning until the end, the other platform transactions were 4x higher than Metamask.

In terms of swaps, the evolution is also in a negative trend. But it seems that during the alst months, the Metamask swaps decreased more. In general, other platform swaps have been 3x higher than Metamask.

In terms of average swapped volume, it seems like in both cases, inflow and outflow volumes, the average swapps experimented like some spikes in specific days. In the major of the spiking days, the inflows and outflows are correlated but there are also some days when inflows spikes and outflows not and on the other way around.

Overall, the average volume in both cases are higher in other platforms than in Metamask. However, there are some puntual days when Metamask average volume spikes but the other platforms don't experiment any change.

Finally, in terms of daily fees it can be seen how the other platforms generate more fees than Metamaks. It is normal due to more daily transactions are done in the other platforms. However, it can be seen as well how the volume of fees decreased over time.

To be able to compare properly the fees between Metamask and the other platforms, we need to track the average transaction fees between them. In this case, we can see how in general, the Metamask fees are higher than the average of the rest of the platforms. Then, we can say that the Metamask is more expensive than the rest of the platforms for the users. Again, the average transaction fees experimented a downtrend over time since January 2022.

Conclusion and key insights

In this dashboard we have compared different Metamask metrics with the other platforms. The metrics evaluated have been the swap activity, the transactions activity, the volume as well as the fees.

The main insights extracted from the analysis are:

• 23% of the total swaps are done by Metamask users
• Metamask represents almost 15% of the total volume swapped.
• Both Metamask users and other platform users presents negative net volume.
• Comparing Metamask with other platforms, in terms of volume transactions as well as swaps, it can be seen how in both cases the evolution is negative, losing some part of activity.
• Metamask fees are higher than the average of the rest of the platforms.