Introduction to Sushiswap and Uniswap

1. Sushiswap and Uniswap are Ethereum and Ethereum L2 DEX that allows users to swap one asset for another.
2. Users can swap, earn, stack yields, lend, borrow, and leverage all on one decentralised and community driven platform with Sushiswap and Uniswap.
3. Sushiswap is a fork of Uniswap (the world's largest decentralised exchange) that has been improved and made more user-friendly. Unlike Uniswap, which uses Automated Market Makers (AMM), SushiSwap is a user-oriented platform in which users provide liquidity in exchange for rewards.

Introduction to Optimism, Arbitrum and Polygon

1. Optimism, Arbitrum and Polygon are Ethereum Layer 2 networks.
2. In the decentralised ecosystem, a Layer 1 network is a blockchain, whereas a Layer 2 protocol is a third-party integration that can be used in conjunction with a Layer 1 blockchain.
3. Bridges such as the Optimism/Arbitrum/Polygon native bridge, Hop Protocol, Across, LiFi, and others can be used to connect users' ETH and ERC20 assets to Ethereum Layer 2 networks. \n

1. Out of the 3 L2s, weekly swap volume on Arbitrum has been the highest on Sushiswap, averaging a 70-80% market share from May to August 2022, and above 90% market share since August 2022.
2. Arbitrum has been constantly growing market share over Polygon and Optimism in terms of swap volume on Sushiswap.
3. Total swap volume on Arbitrum since May 9th 2022 on Sushiswap amounts to 1.58B USD. This is followed by Polygon, with 250M USD and Optimism with little to no volume.
4. Arbitrum's average swap volume on Sushiswap is also the highest of the 3 L2s, indicating that there are more whales on Arbitrum swapping on Sushiswap.

1. In terms of swap count and swapper count on Sushiswap by L2, Arbitrum has the largest share of the 3 L2s.
2. Polygon was the L2 on Sushiswap from May to August 2022, with the majority market share in terms of swapper and swap count.
3. However, as of August 2022, Arbitrum has surpassed Polygon as the leader in terms of swapper and swap count on Sushiswap.
4. In terms of swap activity on Sushiswap, we can conclude that Arbitrum has the largest market share, followed by Polygon and Optimism.

1. Surprisingly, unlike Sushiswap, Optimism has the largest share of the 3 L2s in terms of swap count and swapper count on Uniswap.
2. On Uniswap, Optimism still has the majority of the market share over the other L2s for weekly swap count.
3. However, in terms of weekly swapper count on Uniswap, we can see that Arbitrum has gradually gained market share over Optimism and Polygon. Arbitrum has had a 60% market share in terms of swap count on Uniswap since September 2022, surpassing Optimism and Polygon.
4. In terms of Uniswap swap activity, we can conclude that Optimism has the largest market share, followed by Arbitrum or Polygon.

Methodology

1. In this dashboard, we will compare the overall market share of Optimism, Arbitrum and Polygon on Sushiswap and Uniswap in terms of swap volume, swap count and swapper count.
2. Analysis in this dashboard starts from 9th May 2022, since that was when Optimism was supported on Sushiswap.
3. Uniswap transactions are identified by filtering for transactions interacting with Uniswap V3 Router - 0xe592427a0aece92de3edee1f18e0157c05861564.
4. Sushiswap swap activities are identified by using the sushi.core schema.

Swap Activity on Sushiswap by L2

Swap Activity on Uniswap by L2

Conclusion

Arbitrum has had the highest weekly swap volume on Sushiswap of the 3 L2s, averaging a 70-80% market share from May to August 2022 and exceeding 90% since August 2022.

Arbitrum has the largest share of the 3 L2s in terms of swap count and swapper count on Sushiswap by L2.

Based on Sushiswap swap activity, we can conclude that Arbitrum has the largest market share, followed by Polygon and Optimism.

Surprisingly, unlike Sushiswap, Optimism has the largest share of the 3 L2s on Uniswap in terms of swap count and swapper count.

However, we can see that Arbitrum has gradually gained market share over Optimism and Polygon in terms of weekly swapper count on Uniswap. Since September 2022, Arbitrum has held a 60% market share in terms of swap count on Uniswap, surpassing Optimism and Polygon.

Optimism has the largest market share in terms of Uniswap swap activity, followed by Arbitrum or Polygon.