Introduction

• In this Dashboard, You will read about two popular DEXs on Ethereum and Solana. I compared Sushiswap on the Ethereum chain and Jupiter from Solana Chain together. I went through both of them and analyzed these parameters:
• Swapper
• Swaps
• Volume in USD
• Share of USDT and USDC ( From and To )
• Popular Days
• Users Breakdown

Method

• The method was simple. We have a Swap table on Solana and Ethereum. I found all mentioned parameters in that table. But the only problem was the Swap volume in USD on Solana. because we don’t have an exact price table for the Solana chain. So, I needed to calculate each token price on Solana.
• Using the Solana Swap table, I used the below code to calculate token prices in USD.

select date(block_timestamp) as p_date, a.swap_from_mint , (sum(SWAP_TO_AMOUNT)/sum(a.SWAP_FROM_AMOUNT)) as price from solana.core.fact_swaps a join Jupiter b on a.SWAP_FROM_MINT = b.SWAP_FROM_MINT where a.SWAP_FROM_MINT = b.SWAP_FROM_MINT and SWAP_TO_MINT = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' and p_date >= '2022-01-01' and SWAP_TO_AMOUNT > 0 and a.SWAP_FROM_AMOUNT > 0 group by 1,2

A SUMMARY OF THE MOST IMPORTANT FINDINGS

• Sushiswap has almost 90K Unique Swappers on Ethereum higher than Jupiter.
• We can’t compare the total number of swaps on Jupiter with Sushiswap. Because the difference is so huge. More than 350M swaps on Jupiter since January 2021 and 2.5M swaps on Sushiswap.
• More volume in USD swapped on Sushiswap in comparison to Jupiter. However, most of the difference was at the beginning of the year. Sushiswap had a huge swap volume in those months.
• The average swap volume on Sushiswap was a lot higher than Jupiter.
• A large group of users swapped between 100-1KUS dollars. Both platforms are the same.
• A large group of users have used Sushiswap and Jupiter only 1-2 times.
• I chose two stablecoins. USDC and USDT. Then, I calculated the daily share of users and the amount from and to stablecoins.

Users Breakdown

• User Activities based on the number of swaps and swap volume are almost the same on Sushiswap and Jupiter.
• The large group of users on both platforms swapped between 100 and 1000 US dollars. Also, The large group of users on both platforms swapped 1-2 times.

Share of USDC and USDT ( From and To Stable )

Full Analysis:

Users and Transactions

• From January until February, Sushiswap had more swappers than Jupiter. After that, the number of swappers on Jupiter increased and Sushiswap decreased. After the second week of June, Both platforms had similar Swappers.
• Overall, Sushiswap had 452K swappers and Jupiter had 342K swappers since January 2022.
• There were so ups and downs over time but Both platform swappers decreased in the last 3 months.
• The share of Sushiswap swapper is 56.9% and Jupiter is 43.1%.

Swap Volume in USD

• Volume is one of the key parameters for a successful DEX. Because the highest income for a platform become from swap volumes. Comparing Jupiter and Sushiswap, We can understand Sushiswap earned more. Until April, The total swap volume on Sushiswap was higher than Jupiter but after that Sushiswap decreased and Jupiter's volume increased. For Almost 2 months, their volume was similar to each other.
• The total Swap volume on Sushiswap is around 26B US dollars and on Jupiter is nearly 13B US dollars.

THANK YOU FOR READING!

ALL CODES AND CONTENTS WERE WRITTEN BY HESS

:writing_hand: Twitter: @hessaminanloo

:exclamation: Discord: hess#0890

:calendar: Analyze Date: 2022/SEP/23

Swap Transactions

• I think we can not compare the share of Jupiter swaps with Sushiswap. The total number of swaps on Jupiter was higher than Sushiswaps. The weekly share of swaps on Jupiter is more than 90%.

> # The average weekly swap volume on Sushiswap is far higher than Swap volume on Jupiter.

Another Metric that we can look into it is the share of Stablecoin on these platforms. I selected USDC and USDT stablecoins to compare on Sushiswap and Jupiter.

As you can see the number of swaps and swap volume from Stablecoins on Jupiter was higher than Sushiswap on all days.

Also, The total swaps and swap volumes to Stablecoins on Jupiter are higher than Suhsiswap too. Both side of swaps to stablecoins on Jupiter was higher than Sushi.

The share of all parameters on Jupiter is 60-65% and on Sushiswap is 30-35%.

Conclusion

• There was a time when we compared two platforms in two different chains, Especially Ethereum with others, All parameters on Ethereum Chain were higher than the other. It is true that Sushiswap had a higher volume and users but Jupiter is so Close to Sushiswap. Even, the share of stablecoins and the number of swaps

on Jupiter was higher than Sushiswap. The swap volume on Jupiter is increasing. Maybe 6 months later, The volume on Jupiter becomes higher than Sushisawp.