What is a DEX?

A decentralized exchange (DEX) is a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers. In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform.

What is Uniswap?

Uniswap is a cryptocurrency exchange which uses a decentralized network protocol. Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.

What is Sushiswap?

SushiSwap was launched in September 2020 by two anonymous developers called Chef Nomi and 0xMaki. It is one of the most popular Decentralized Applications (DApp) on the Ethereum blockchain. SushiSwap adopts the AMM model for its DEX protocol. 

What is Velodrome?

Velodrome is an AMM designed as the central trading and liquidity marketplace on Optimism Network. It is the next evolution of theSolidly Exchange model introduced by Andrew Cronje.

Objective

in this dashboard we are looking to answer the following questions about Velodrome, Sushiswap, and Sushiswap on Optimism:

• Total number of swaps by day over the last month
• Total number of wallets swapping by day
• What are the most popular asset pairs to swap from and too
• Top 10 assets swapping from
• Top 10 assets to swap to

Data

The data for this dashboard will come from the optimism.core tables of Flipside’s database. all data for this dashboard comes from Sep 25th, 2022 - Oct 25th, 2022.

Swap activity by DEX

Sections

1. Swap activity by DEX
2. Top tokens by DEX
3. Top Pools by DEX

Observations

1. Velodrome has about 10x the number of swaps than Uniswap daily and Uniswap has about 10x the number of swaps than Sushiswap daily
2. In the past month, almost every day Velodrome has had over 2,000 active swappers
3. Starting October 16th there has been a growth of Uniswap users and swaps
4. Sushiswap has had continual activity growth in the past month

Top tokens by DEX

Observations

1. USDC, OP, and WETH is one of the most popular tokens on all 3 DEXs
2. USDT is much more popular on Uniswap than on Velodrome or Sushiswap
3. VELO is the 5th most popular token on Velodrome, but it is not in the top 10 on the other 2 DEXs

Top Pools by DEX

Observation

1. The most popular pool on Sushiswap and Velodrome is WETH - USDC
2. USD stablecoin pools seem to be more popular on Velodrome and Uniswap whereas WETH pools are more popular on sushiswap

Conclusion

• Swap activity by DEX
  • Velodrome has about 10x the number of swaps than Uniswap daily and Uniswap has about 10x the number of swaps than Sushiswap daily
  • In the past month, almost every day Velodrome has had over 2,000 active swappers
  • Starting October 16th there has been a growth of Uniswap users and swaps
  • Sushiswap has had continual activity growth in the past month
• Top tokens by DEX
  • USDC, OP, and WETH is one of the most popular tokens on all 3 DEXs
  • USDT is much more popular on Uniswap than on Velodrome or Sushiswap
  • VELO is the 5th most popular token on Velodrome, but it is not in the top 10 on the other 2 DEXs
• Top Pools by DEX
  • The most popular pool on Sushiswap and Velodrome is WETH - USDC
  • USD stablecoin pools seem to be more popular on Velodrome and Uniswap whereas WETH pools are more popular on sushiswap