Try Quests to earn cryptoOpen Analytics Bounty: ETH
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Introduction:
MetaMask is a cryptocurrency wallet that enables users to store Ether and other ERC-20 tokens.
MetaMask is one of the leading crypto wallets and leans on browser integration and practical design to perform as one of the main gateways to the world of Web3, decentralized finance (DeFi), and NFTs.
Uniswap is an automated liquidity protocol powered by a constant product formula enforced in a system of non-upgradeable smart contracts on the Ethereum blockchain. It precludes the need for trusted arbitrators, prioritizing decentralization, censorship resistance, and security.
SushiSwap enables the buying and selling of different cryptocurrencies between users. 0.3% fees are charged for facilitating each swap, with 0.25% going to liquidity providers and 0.05% being converted to SUSHI and distributed to users holding the SUSHI token.
Methods
- Based on the flipside discord, For the purpose of this bounty, we can categorize Metamask, Uniswap and Sushiswap, which are popular ETH platforms.
Tables: ethereum.core.fact_event_logs , ethereum.core.ez_token_transfers , ethereum.core.ez_dex_swapsMetamask ORIGIN_TO_ADDRESS = lower('0x881d40237659c251811cec9c364ef91dc08d300c')Sushi ORIGIN_FROM_ADDRESS != lower('0x881d40237659c251811cec9c364ef91dc08d300c') and ORIGIN_to_ADDRESS != lower('0x881d40237659c251811cec9c364ef91dc08d300c') and origin_to_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915') and origin_from_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915'Uniswap ORIGIN_FROM_ADDRESS <> '0x881d40237659c251811cec9c364ef91dc08d300c' and ORIGIN_to_ADDRESS <> '0x881d40237659c251811cec9c364ef91dc08d300c' and origin_to_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915') and origin_from_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915'Also, I am going to filter all results from 2022-01-01 on.
This chart shows the number of unique users with transactions on each platform. As the chart shows, the number of unique users was the most on Uniswap. The most unique user was on Jan 1th, 2022. On this day, 16.55k users were on Uniswap, 2096 on Sushiswap, and 3437 users had transactions on Metamask.
The most unique user on Sushiswap with 4821 was on Jan 5th.
The number of unique users on Metamask was the most on February Jan 10th. On this day, the number of users was 7437.
Of the total unique users, Uniswap, with 71.3%, had the most unique users. Sushiswap had 11.6% of all unique users. 17.1% of the unique users belonged to Metamask. Around 2.69 million users had daily transactions on Uniswap. Metamask had 646,665 daily active users. And Sushiswap had 440,116 daily users.
Until March 26th, The total unique users on Sushiswap was higher than Metamask but After that Metamask took Sushiswap's place.
This chart shows the amount of USD that users used to do transactions.
In terms of swaps volume (in USD), we can see Uniswap as the leading platform. but based on my analysis, I think it's because of a few transactions which were made (maybe its bug maybe its not) with a massive huge volume on April 2022 that does not make sense, but anyway, i didnt exclude those rows.
The most USD volume belonged to July 18th.
On this day, around 15 billion USD was used to make transactions on Uniswap, Sushiswap had 19 million of the total volume of this day, and around 8 million USD was used on Metamask. Uniswap: The most USD volume on this platform was on Sep 15th, with around 15 billion USD.
The most volume on Sushiswap, with 287million, was on Jan 6th.
The USD volume on Metamask was the most on Jul 6th. On this day, the amount of USD that was transferred on Metamask was around 210 million.
Of the total USD volume that was transferred on each platform: Uniswap was in first place with 99.9% and the amount of USD that was transferred on Uniswap was around 27.6T. Sushiswap and Metamask had 0.1 % part of the total USD volume.
I should mention that so many coins are available on Uniswap. Every coin is tradable on Uniswap. So the volume would be much higher than the others.
The total Volume On Uniswap was much higher than the Metamask and Sushiswap.
Susiswap has a similar user to Metamask but the volume is higher than the Metamask.
The average Daily amount at the beginning of the year was 15-16K on Uniswap. Recently average on Uniswap decreased to below 5K
The average daily amount on Metamask was about 3-4K.
The average daily amount of Uniswap was similar to Metamask.
On April 13th, The average on these platforms increased significantly. For example Metamask reached 30K.
In terms of number of swaps, we can see Uniswap is the leading platform and metamask is the second one.
The most swaps on Uniswap was on July 18th, with 34k transactions.
The most number of swaps on Sushiswap with 7995 was on Jan 5th.
The number of swaps on Metamask was the most on Jan 10th. On this day the 8444 swaps happened on Metamask
Of the total number of swaps on each platform: Uniswap was in first place with 75.2% and had around 4.6 million transactions . Sushiswap had 11.7%part of the total number of swaps. This platform had 723,016 swaps 13.1% of the number of swaps belonged to Metamask. Metamask had 804.806k swaps.
First of all, In terms of number of Swaps, we can see Uniswap is the leading platform and metamask is the 3rd one.
The average amount of USD used to be swapped on each platform was the most on Sep 15th. On this day, the average USD amount of swaps on Uniswap was around 2.33 B, on Sushiswap was 8.5k, and on Metamask was 2.7k.
The most average USD on Sushiswap with 52k was on May 12th.
The USD average that used to swap on Metamask was the most on July 6th. On this day average value of USD was 96k.
Sushiswap and Metamask hat 0.2 % part of the total average USD. And finally, Uniswap had 99.8 % of the total swap’s average USD value.
The highest ETH that was paid as a fee was on May 12th: On this day, 1960 ETH was paid on Uniswap, 1623 ETH on Sushiswap, and 248 ETH was paid on Metamask.
Uniswap gained 74% of the total fees among the other platforms. Sushiswap had 19.2% part. And Metamask had only gained 6.67% of the total ETH paid as a fee.
Metamask has the lowest average in comparison to Uni and Sushi.
The second place is Uniswap.
The highest average was for Sushiswap.
The average fees decreased from January 21st. The highest average was on May 12th.
Conclusions:
In 2022 all the platforms have a combined acquisition of 1M+ with more than half of the new users using uniswap followed by metamask and sushiswap.
Uniswap has the highest number of swaps in the user acquisition in 2022. while, the days when Uniswap has a higher number of swaps, other platforms like Metamask & Sushiswap also have a high number of swaps.
There has been a decrease in the average amount per transaction on almost all exchanges and Metamask as well.
Uniswap clearly takes in a lot of fees but all of it is distributed back to the liquidity provider(about 2M$ per day).
Uniswap leads when it comes to the number of transactions as compared to Metamask and Sushiswap.
Daily unique users on Uniswap is higher than on Metamask and Sushiswap.
On some days the total unique users on Metamask are higher than Sushiswap and on some days Sushiswap is higher than Metamak. But in Total Metamask was higher than Sushiswap.
Uniswap has the highest number of unique users in comparison to Metamask and Sushiswap.
Sushiswap and Metamask daily users were similar to each other.
Uniswap had the highest volume in comparison to Uniswap and Sushiswap.
The Metamask Volume is not much high in comparison to others.
Users paid the average fess lower on Metamask in comparison to Uniswap and Sushi. The First place is for Uniswap.
Uniswap have the highest average Fees.
Daily Unique users on three platforms is decreasing from January month by month.
The highest number of users happened in January on three platforms.
Takeaways
While MetaMask swap functionality utilizes DEXes like Uniswap and Sushiswap to facilitate in-wallet swapping, transactions on on these other DEXes dominate over MetaMask swaps. MetaMask users make fewer swaps and for fewer amounts, which may suggest that users (or bots) looking to make swaps prefer to trade on DEXes directly, and MetaMask swaps could be a transaction of convenience (rather than part of a large-volume trading strategy) for other categories of users. The per-swap fees are consistent between MetaMask and other routers, which is consistent with fees being a function of network congestion and transaction complexity/contract optimisation, not the platform per se.