Introduction

SushiSwap is a decentralized exchange running on Ethereum blockchain that people can trade their digital currencies. Every day, there are thousands transactions on SushiSwap platform with different purposes. Actions on SushiSwap can be divided to 4 main types: Swapping, Lending, Borrowing and adding or removing liquidity. Here is a brief explanation of these actions:

• Swap: people can easily exchange their own cryptocurrency for another one on SushiSwap.

• Crypto lending: A cryptocurrency lending process involves depositing cryptocurrency and lending it out for regular interest payments to borrowers.

• Add and remove liquidity: Investing in a crypto liquidity pool allows you to lock your tokens in a pool of cryptocurrencies, allowing you to earn passive income from them.

  Sometimes, these transactions fail due to different causes. The failure rate is different for each action and day to day.

  Source: Investopedia

Methodology

In this dashboard, by using Ethereum and Sushi tables:

🔷 In the first section we see different transaction types share both on daily basis and in total since January 2022.

🔷 In the next section, we check the total transaction status and also different transaction types statutes.

🔷 The Third section is about the success and failure rate of transactions in different actions.

The method of queries is using ethereum.sushi.ez tables for swap, lend and borrow. For liquidity pools I used ethereum.core.dim_dex_liquidity_pools

Since these tables didn’t have a status row, I got tx functions of each specific table to use in ethereum.core.fact_transactionsand find failed transactions of each action.

Total transactions on daily basis based on 4 main actions

• As we can see, the majority of transactions go to swapping and other types are somehow neglectable.
• In all days we have at least 600k swaps while lending & borrowing is 70 times less than swapping.
• Add and remove liquidity has around 50 transactions daily.
• Between May to July, daily transactions dropped and in July we had a surge in transactions on SushiSwap.
• On July 26, there was over 1M swaps and 14k borrow.

The proportion and total transaction count of each action

• As we see in the donut chart, swapping has a share of 98% of all transactions and its total number is 1.2B.
• Other actions like lending and borrowing, have a smaller difference; borrowing is about 2M more than lending.
• Adding and removing liquidity is the least popular action in SushiSwap with 240k tx in total.

Transactions status on Sushiswap

• We had over 1.33B transactions on SushiSwap platform. 1.3B out of it was successful transactions which has a share of 97%.

• As we see in the left bar chart, successful transactions are way more than failed ones.

• In swap transactions, successful txs are 38 times greater than failed ones.

• In lending and borrowing, success was 17 times more than failure.

• In add and remove liquidity, success was 220 times more than failure which is the highest difference among all.

  The proportion of each action in different statuses shows:

• 97% of failed transactions are swapping. In the case of successful transactions, swapping has 98% of the total share.

• Other actions in successful txs have less than 1% share together.

• Other actions in failed transactions have around 1.7% share.

Success rate of transactions on daily basis

Daily success rate of different transaction types is in the left chart.

• Add and remove liquidity is the most successful type of transaction and on most days it has a 100% success rate. There are some negative spikes on days like May 23 and June 20 when success rate dropped to 60%. It has the stable rate.

• Swapping and lending success rate have similar lines and their success rate is almost 97% on most days. This trend is stable from January till today.

• Borrowing action has a fluctuating success rate. While it had a 93% success rate on average till April 2022, it started a downward trend after May. With the beginning of market volatility, success transactions in borrowing dropped to 80%. Till today, the success rate of borrowing couldn’t gain its past record and fluctuated between 80 to 87.

Fail rate of transactions in daily basis

• Failed rate for four types of transactions is exactly the opposite of the success rate.
• Negative spikes on adding and removing liquidity is now positive spikes for fail txs.
• Borrowing has an upward trend and between June to August we had more than 20% failure in transactions.
• Swapping and lending have the most stable fail rate and on average they have 3% fail rate.

Conclusion

• Daily transactions since January show the significant part of transactions in Sushiswap platform is to swap a token followed by borrowing and lending.

• Swapping has over 1B transactions in total.

• 97% of transactions are successful on Sushiswap.

• In swapping, successful txs are 38 times greater than failed ones while in add and remove liquidity, success was 220 times more than failure. This shows although liquidity pools doesn’t have many transactions**, most of them are successful.**

• Add and remove liquidity is the most successful type of transaction and its fail rate is sometimes 0, while in the worst condition it is 35%.

• Swapping and lending have the most stable success and fail rate.

• Borrow failure rate increased 150% since May and reached 20%.

• Borrowing has the highest failure rate while adding and removing liquidity has the least failure rate.

Section I) data on transaction types

Section II) data on transaction status

Section III) data on failure rate