Introduction

What is Ethereum?

Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. Ethereum was conceived in 2013 by programmer Vitalik Buterin.

What is Solanan?

Solana uses a “proof of stake” system to verify transactions, manage its coin supply and create new coins. To participate in a proof of stake system, you need to own the cryptocurrency but then you can earn rewards for helping to operate the system.

What are DEXs?

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.

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Methodology

In this dashboard we will look at the swap activity on both ethereum and Solana by DEX. We are looking to see how these two ecosystems compair in swap sizes, events and users. The data for this dashboard will come from the ethereum.core and solana.core tables of Flipside’s database. the data will be broken up into the 4 sections labeled on the right.

Sections

1. Daily Ethereum Swaps
2. Aggregate Ethereum Swaps
3. Daily Solana Swaps
4. Aggregate Solana Swaps

Daily Ethereum Swaps

Aggregate Ethereum Swaps

Daily Solana Swaps

Observations

• There has been a decrease in the value of swaps and all of the top 5 DEX platforms on Ethereum since the merge
• There was a spike in swap Ethereum dex activity leading up to the merge
• Since the beginning of August the has been a slight increase in the daily number of DEX swaps overtime
• By far curve has the largest swap sizes amongst the Ethereum DEXs

Aggregate Solana Swaps

Observations

• The number of active DEX users on Solana have been decreasing since the start of 2022.
• the most popular dex in terms of active wallets on Solana is Orca DEX, but since mid june there has been a large decline in users
• The top tokens on solana in terms swappers are stablecoins and wrapped sol
• other than stablecoins and wrapped sol gmt and gst are the most popular tokens on solanan in terms of number of users

Conclusion

• Ethereum
  • There has been a decrease in the value of swaps and all of the top 5 DEX platforms on Ethereum since the merge
  • There was a spike in swap Ethereum dex activity leading up to the merge
  • Since the beginning of August the has been a slight increase in the daily number of DEX swaps overtime
  • By far curve has the largest swap sizes amongst the Ethereum DEXs
• Solana
  • The number of active DEX users on Solana have been decreasing since the start of 2022.
  • the most popular dex in terms of active wallets on Solana is Orca DEX, but since mid june there has been a large decline in users
  • The top tokens on solana in terms swappers are stablecoins and wrapped sol
  • other than stablecoins and wrapped sol gmt and gst are the most popular tokens on solanan in terms of number of users