What is Optimism?

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

What is DEX?

A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary. Many popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain.

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Methodology

In order to have a better analysis, I have divided the dashboard into several general sections, each section containing a number of charts and findings.

The first part includes a general comparison of three DEXs, which includes a comparison:
- Number of daily and total swaps
- Number of daily and total swappers
- Daily and total Volume (USD) swapped
- Average volume swapped per swapper and per swap
- Daily and total fee volume (ETH) as well as the average fee paid by DEXs in a normalized mode
The next section is related to the Most popular asset pairs to swap from and to, where we specify the top 5 pairs of each DEX based on the number of swaps they have had. Then, for these top 5 pairs, I will display the number of swaps, the number of swappers, the swapped volume (USD), and their paid fees (ETH).
After that, in the next sections, I’ll show the top 10 assets swapped from* on each DEX. I’ll show the number of swaps, the number of swappers, the swapped volume (USD), and their paid fees (ETH) for them.
Next, I will show the previous section’s chart for the top 10 assets swapped to* on each DEX.

Definitions

Asset swap from: It’s the in asset (symbol) the user pay to DEX

Asset swap to: It’s the out asset (symbol) the user receives from DEX

The Velodrome has the highest number of swaps compared to Sushiswap and Uniswap, with the highest recorded on October 25th with 110.68k swaps. Then Uniswap is in second place with 20.41k swaps on September 20th as its biggest record, and Sushiswap is in third place with 643 swaps on October 15th.
In general, the total number of Velodrome swaps in the last month is 1.58M swaps as the first place, followed by Uniswap with 423.96k swaps and Sushiswap with 9.80k swaps, respectively.

According to the chart, Uniswap is in first place with a total of 71.44k swappers over the last month, which reached its peak on October 14th with 8,080 users.
The Velodrome is second with a total of 41.69k users, with a peak of 7,146 users on October 13th, and Sushiswap is third with a total of 1,602 swaps and a peak of 155 users on October 15th.

Uniswap ranks first with a total volume of 353.79M USD, which had its biggest peak on September 28 with almost 29M USD.
The velodrome is in second place with a total volume of 196.63M USD, whose highest peak was on October 25 with 14M USD.
Sushiswap is in third place with a total volume of 245.27k USD, with its biggest record on October 15, which is 18.36k USD.

As you can see, velodrome with 206.44 ETH has the highest fee consumed in the last month, followed by Uniswap with 44.42 ETH, and Sushiswap with 3.44 ETH, respectively.
The biggest record of Velodrome, Uniswap, and Sushiswap was 18.80 ETH, 2.52 ETH, and 0.24 ETH, respectively, on October 25th and 21st.
In general, Velodrome has the highest total swap fees among other DEXs.

The average volume per swap in Uniswap has been on a downward trend. While the other two DEXs have gone through a steady process.
The Velodrome chart is moving upward and has the most volatility while the two Sushiswap and Uniswap charts have a stable trend.
Uniswap is in first place with a total average volume of $4,952 per swapper with the highest record of $6,725 on Sep27. The velodrome is in second place with a total average volume of $4,715 and the peak is $4,956 on Oct 25. And the Sushiswap is in third place with $153.10 whose peak was $223 on Oct 20.
Also, with the same trend, Uniswap is in first place with a total average volume of $834 per swap, with $1653 at its biggest peak. And velodrome is in second place with $124 and the peak is $155.12. And Sushiswap is in third place with $25 and the peak is $47.15.

The highest swaps count of the most popular asset pairs in velodrome, Uniswap and Sushiswap belongs to WETH-USDC with 311.88k, 130.11k and 5,174 swaps, respectively.

The most popular asset pairs swappers in Velodrome, Uniswap and Sushiswap belongs to WETH-USDC with 24.21k , 36.60k and 1436 swapper, respectively.

OP-USDC with a volume of $59.27M is the most popular pair in the velodrome in terms of volume swapped.
In Uniswap and Sushiswap, WETH-USDC is the most popular asset pair with a volume of $267.28M and $197.80k respectively.

The highest total swap fees in Velodrome, Uniswap and Sushiswap belongs to WETH-USDC with the number of 40.33 ETH, 13.31 ETH, and 1.80 ETH.

WETH-USDC is ranked first in all three DEXs in all terms (except swap volume which is near to first place in this metric too).

Top 10 assets swapping from

In all three DEXs, WETH and USDC are the most popular in terms of swapping from. In Velodrome, OP is also popular.
The number of USDC transactions in Velodrome is 525.85k, while in UniSwap it is 153.45k, which is 1/3 of Velodrome.
USDC ranks first in Velodrome and Uniswap in terms of swap count and total swap fees. WETH in UniSwap and USDC in Velodrome is in first place in terms of swappers and swap volume.
Velodrome's top 10 assets are OP, DAI, sUSD, FRAX, SNX, MAI, DOLA, VELO, WETH, and USDC.
Uniswap’s top 10 assets are WETH, USDC, DAI, OP, USDT, SNX, WBTC, UNI, LINK, and sUSD.
Sushiswap’s top 10 are WETH, USDC, USDT, DAI, OP, WBTC, CRV, sUSD, and SNX.

Top 10 assets swapping to

The charts in this section actually show the top 10 currencies that have been swapped for (swapped to) each DEX. This allows us to understand which currencies are more popular to swap to.

As we can see, the currencies in all metrics in the Sushiswap DEX have very low values, and we do not see their bars compared to the other two DEXs indices.
In terms of fees and the number of swaps, the Velodrome DEX currency columns have the highest amount compared to the other two DEXs. But in terms of volume and number of users, Uniswap ranks first.
The top two currencies in terms of the number of swaps in Velodrome were USDC and OP, while the top two Uniswap currencies in the same metric were USDC and WETH.
In terms of the number of swapping users, the two currencies USDC and WETH are ranked first and second in all three DEXs.

General comparison

Dive Deeper - Distribution based on # of DEX each user used

In this section, in order to do a deeper analysis, we will divide the users based on the number of DEX they have used, and then for each of the three categories, then provide charts for these metrics:

the number of transactions, the volume swapped, the number of users in each category, and fees paid for each category.

As we can see, most of the users used only one DEX, which number is 58.6k users, and the users who used two DEXs are in the next rank, and just a few users used all three DEXs (802 users).
Naturally, the number of transactions of the first group, i.e. users who have used 1 DEX, is the largest, but the transactions of this group of users are not much different from the transactions of the second group. But if we look at the volume chart, we can see that the difference between these two categories is very huge.
The number of transactions of the first group was 457k and the second group was 371k.
In terms of swapped volume, the first group has swapped $465M and the second group has swapped $107M, which is much more than the difference in the number of transactions of these two categories.
The fee paid by the users of the first group was 157.4 and 104 Ethereum.

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