Try Quests to earn cryptoSUSHI Noobs II
What is the first thing new users do when they acquire SUSHI?
This dashboard will attempt to find out what new users do after they acquire SUSHI.
Methodology
- Find all the addresses and date each address first receive SUSHI tokens (table: ethereum.core.fact_event_logs, SUSHI contract_address: 0x6B3595068778DD592e39A122f4f5a5cF09C90fE2, event_name: Transfer)
- Find all the addresses and date each address first swap other tokens for SUSHI tokens (table: ethereum.core.ez_dex_swaps, symbol_out: SUSHI)
- Combined the result from above to derive the distinct addresses and date each address made their first transaction.
- Using ethereum.core.fact_event_logs, match the addresses and find the second transactions (rank by date of transaction) that is made after the first transaction.
Based on the graph above, it seems that what most users do involve transferring of SUSHI tokens or swap of SUSHI tokens on either Uniswap or Sushiswap as they interact with UniswapV2Pair contract.
Next, let's we take look closer at the SUSHI transfers with ~22k transactions or ~7.5% of total transactions.
With this, let's look at the things [contract - action] users do after acquiring SUSHI. Contract refers to the contract_address, Action refer to the event_name.
From the graph above, we can see that around ~13% of the SUSHI token transfers were transactions to XSUSHI contract (0x8798249c2E607446EfB7Ad49eC89dD1865Ff4272) or users staking their SUSHI tokens for XSUSHI.
Lastly, let's look at the breakdown of the 87% 'Transfer to Others'.
From the breakdown above, it seems that a large percentage (>30%) transfer their SUSHI tokens to centralized exchange include Binance, OKEX, Huobi, Kucoin, Celsius and Crypto.com. This might suggest users selling their SUSHI tokens after acquiring them.
Of these transactions, around 5.1% participated in SUSHI-WETH SLP on Sushiswap and 4.6% participated in SUSHI-WETH UNI-V2 LP on Uniswap. In total, around 10% of transfers were send to liquidity pool on Uniswap & Sushiswap.