Try Quests to earn cryptoOptimism DEXs
Q8. Let’s take a closer look at DEXs on Optimism, specifically Velodrome. Make a dashboard that compares Velodrome to any other Optimism DEX based on: -Total number of swaps by day over the last month -Total number of wallets swapping by day -What are the most popular asset pairs to swap from and too -Top 10 assets swapping from -Top 10 assets to swap to
What is Optimism ?
Optimism is a layer-two blockchain for Ethereum using optimistic rollups as scaling technology and one of Ethereum’s biggest scaling solutions. Optimistic rollups outsource the execution of transactions to a L2 solution like Optimism. The transactions on Optimism are rolled up into batches that get relayed to the Ethereum mainnet, which only records the new chain state. Since their validity is assumed, the rollups are called optimistic. A rollup's validity can be challenged for up to seven days, which is why withdrawals from Optimism to Ethereum take seven days.
Optimism Rally During Last Week:
and OP, the native token of Optimism, the Layer-2 scaling solution, leads with a 94.92% spike in price in the last seven days. Apart from the price rally, the protocol also saw significant ecosystem updates during the week. For example, the L2 protocol launched its new Optimism onboarding flow for new and experienced cryptocurrency traders. Also, it launched its first Euro pegged stablecoin in the form of $agEUR.
On the left data, we can see 261K swaps were made on Velodrome till today and these number of swaps were made by 6.81K Unique wallets. (since begining of the data on Flipside tabels)
Velodrome
for Velodrome, when event_inputs:from is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping from asset from the contract address on the related row.
when event_inputs:to is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping to asset from the contract address on the related row.
when event_name is swap, we can extract the swap pair from the contract address on the related row.
On the above charts, we can see Top 10 assets that are getting swapped from, on Velodrome exchange.
We can see the Top asset that is swapping from, on Velodrome is USDC in both terms of number of swaps and number of swappers.
On the second rank, we can see OP token in terms of number of swaps and Velo token in terms of number of swappers.
WETH is the third popular asset in terms of number of swaps and OP is the third one in terms of number of swappers.
On the above chart, we can see daily number of swaps on Velodrome over time.
As we see, during the past week (the same time when Optimism ecosystem and OP price has grown significantly as mentioned at the start of the dashboard) the highest number of swaps and swappers on Velodrome have been achieved.
The most number of swaps on Velodrome has achieved on 29th July with more than 29.833K swap transactions.
The most number of users swapping has achieved on 28th July with 1381 unique wallets.
Totally, we can see a dramatically increasing uptrend on both of these charts over time.
On the above charts, we can see Top 10 assets that are swapping to, on Velodrome exchange.
We can also see the USDC token as the Top asset that is swapping to (as like as swapping from charts) in both terms of number of swaps and swappers.
On the second rank, we can see OP token in terms of number of swaps and Velo token in terms of number of swappers.
WETH is the third popular asset in terms of number of swaps and OP is the third one in terms of number of swappers.
the total results on the above 4 charts were exactly the same.
For the pairs, We can see 0x47029bc8f5cbe3b464004e87ef9c9419a48018cd which is Volatile OP/USDC on the first rank in terms of number of swaps.
In terms of number of swappers, we can see 0xe8537b6ff1039cb9ed0b71713f697ddbadbb717d which is Volatile VELO/USDC on the first rank.
Uniswap
for Velodrome, when event_inputs:from is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping to asset from the contract address on the related row. (despite Velodrome)
when event_inputs:to is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping from asset from the contract address on the related row. (despite Velodrome)
when event_name is swap, we can extract the swap pair from the contract address on the related row.
On the left data, we can see there were total 338K swap transactions made on Optimism Uniswap and these number of swaps were made by 37K unique wallets.
On the above chart, same as Velodrome over-time charts, we can see increasing trend of swaps on Uniswap during recent days because of total growth of Optimism ecosystem and OP token and also the good situation of cryptocurrency market.
As we see, the highest number of Swaps on Uniswap Optimism have achieved on 29th July (more than 22.277K swaps) and there is also the highest number of swappers on this date with 4876 unique wallets.
On the above charts, we can see Top 10 assets that are getting swapped from, on Uniswap Optimism exchange.
Here, we can see the Top asset that is swapping from, on Uniswap is WETH in terms of number of swaps. In terms of number of swappers, USDC is the most popular asset.
On the second rank, we can see USDC token in terms of number of swaps with a little difference from WETH and OP token in terms of number of swappers.
OP is the third popular asset in terms of number of swaps and WETH is the third one in terms of number of swappers.
On the above charts, we can see Top 10 assets that are swapping to, on Uniswap exchange.
We can see the USDC token as the Top asset that is swapping to (despite swapping from charts which WETH was the most popular) in both terms of number of swaps and swappers.
On the second rank, we can see WETH token in terms of number of swaps and OP token in terms of number of swappers.
OP is the third popular asset in terms of number of swaps and WBTC is the third one in terms of number of swappers.
the interesting result is that WETH is the 7th popular asset for swapping to, in terms of number of swappers!
Zipswap
Well, Zipswap is not very popular as like as other 2 previous DEXs, but anyway, since it's kinda a new DEX and can provide better liquidity at lower slippage, I have decided to analyze this DEX too for this bounty.
Moreover, the number of results may be lower than expected, but for confirmation, I have compared my results with the official analytics section on Zipswap website, and seems my analysis is correct.
for Zipswap, as like as Velodrome, when event_inputs:from is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping from asset from the contract address on the related row.
when event_inputs:to is equal to origin_from_address on events table and event_name is transfer, we can extract the swapping to asset from the contract address on the related row.
when event_name is swap, we can extract the swap pair from the contract address on the related row.
Well, based on the above data exctracted from flipside tables, we can see there are total 9.15K swaps on Zipswap and seems these swaps were made by only 10 unique wallets.
On the above charts, we can see total number of swaps and swappers on Zipswap over time. As we see, the highest number of swaps on Zipswap achieved on 19th July with 584 swaps and the highest number of swappers achieved on several days which was 6 swappers.
On the above charts, we can see Top assets (which are less than 10!) on Zipswap to swap from.
As we see, WETH is the most popular asset to swap from, in terms of number of swaps as well as number of swappers (USDC is also the first one is terms of number of swappers).
on the second rank in terms of number of swaps, we can see USDC asset.
In terms of assets that are being swapped for (swapping to), we can also see WETH is the most popular one in both terms and USDC in on the second rank also in both terms.
And in terms of swap pairs, we can ofcourse see USDC/WETH is by far the most popular swap pair in both terms (0x1a981daa7967c66c3356ad044979bc82e4a478b9)
On the above charts, I have compared total number of swaps and number of swappers on 3 analysed DEXs and we can see Uniswap in on the first rank in both terms.
the difference between Uniswap and Velodrome is low on number of swaps which is a really good news for Velodrome and meaning that users on Optimism tend to perform more and more swaps on this exchange and maybe it can be the leading DEX on Optimism in the near future.
But in terms of number of swappers, the difference is way high and Uniswap has more than 84.4% of Optimism swappers among these 3 DEXs.
And on the above charts, we can see the total number of swaps and swappers on these 3 Dex over time DURING PAST MONTH (Last 31 Days).
The increasing number of swaps on Velodrome especially during last week is clearly visible on the left chart and thats why we can see a bright future for this exchange.
And on the above charts, we can see growth rate for number of swaps and also swappers on these 3 DEXs.
As we see, Uniswap is the leading exchange in both terms.
In the number of swaps chart, we can see Velodrome line is getting increasingly sharper during recent days and its slope is higher than Uniswap which means maybe in the near future, it can be leading Exchange on Optimism.
Conclusion:
Based on the above analysis of 3 different DEXs on Optimism (Velodrome, Uniswap and Zipswap), we have realized:
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Total Number of 261K swaps were made on Velodrome till today and these number of swaps were made by 6.81K Unique wallets.
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Total Number of 338K swaps were made on Optimism Uniswap and this number of swaps were made by 37K unique wallets.
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Total Number of 9.15K swaps were made on Zipswap and seems these swaps were made by only 10 unique wallets.
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The highest number of swaps and swappers on Optimism DEXs were achieved during last week the exact time when the Optimism ecosystem and also OP token have grown significantly.
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USDC is the most popular asset on Velodrome in both terms of number of swaps and swappers. (both swapping to and swapping from)
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on Uniswap, WETH is the most popular asset to swap from**,** in terms of number of swaps and USDC is the first one in terms of number of swappers.
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USDC is the most popular asset to swap to, in both terms of number of swaps and swappers on Uniswap.
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WETH is the most popular asset on Zipswap in both terms of number of swaps and swappers. (both swapping to and swapping from)
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Volatile OP/USDC is the most popular swap pair on Velodrome in terms of number of swaps and Volatile VELO/USDC is the first one in terms of number of swappers.
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On Uniswap, WETH/USDC is the most popular swap pair in both terms of number of swaps and swappers.
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On Zipswap, USDC/WETH is by far the most popular swap pair in both terms of number of swaps and swappers.
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Uniswap is still the leading DEX on Optimism among these 3 (and also all other DEXs).
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The growth rate of number of swaps on Velodrome during recent weeks is more than Uniswap and we can assume a bright future for this DEX.
==Discord: Ali3N#8546==
Methodology:
For this bounty, I am going to compare Velodrome vs Uniswap and Zipswap DEXs on Optimism platform.
The first step, Is extracting the contract address of swap routers on these 3 DEXs:
- Velodrome: 0xa132DAB612dB5cB9fC9Ac426A0Cc215A3423F9c9
- Uniswap: 0xe592427a0aece92de3edee1f18e0157c05861564 and 0x68b3465833fb72a70ecdf485e0e4c7bd8665fc45
- Zipswap: 0xE6Df0BB08e5A97b40B21950a0A51b94c4DbA0Ff6
Based on the above data and using optimism.core.fact_event_logs table (joining with optimism.core.dim_labels for token names) I am going to analyze below data (Since the beginning of data for Optimism tables on Flipside which is 15th June 2022):
- Total Number of Swaps and Swappers on these 3 DEXs
- Daily Number of Swaps and Swappers on these 3 DEXs Over Time.
- Top 10 Most Popular Assets Swaping From, On These 3 DEXs.
- Top 10 Most Popular Assets Swaping To, On These 3 DEXs.
- Top 10 Most Popular Assets Pairs, On These 3 DEXs.
Note on Labels:
I have used label table from Optimism tables to extract token names and also swap pairs but seems the data are not so accurate because instead of showing the exact name of token, some other things like hop protocol, etc are being shown, and also there is no data on labels table for swap pairs, So, I am going to extract the pair name from Optimism explorer and write them manually in the charts descritpions.
Moreover, we can see some null data on the chart which means their names are not available on the labels table, but anyway, we can extract their names using their contract address (provided on the X axis of tables) from Optimism explorer.
And on the above charts
For the pairs, We can see 0x85149247691df622eaf1a8bd0cafd40bc45154a9 which is WETH/USDC on the first rank in both terms of number of swaps and swappers.
on the second rank, we can see 0x1c3140ab59d6caf9fa7459c6f83d4b52ba881d36 in terms of number of swaps which is OP/USDC pair. in terms of number of swappers, 0x68f5c0a2de713a54991e01858fd27a3832401849 which is OP/WETH pair is on the second rank.
On the left chart, we can see Liquidity and volume for Zipswap protocol over time based on official analytics on its website.
We can see very low numbers and extremly decreasing trend over time.
On the left data, we can see confirmation of these results.
Also, we can see some tokens (after 10th rank) have 0 volume and maybe thats the reason we didnt get them in the results on above charts.
On the above pie-charts, we can see distribution of swappers on these 3 DEXs based on their ETH balance.
As we see, the most number of Velodrome and also Uniswap swappers have between 0.1 and 1 ETH Balance and on the second rank in both exchanges we can see users with between 0.01 and 0.1 ETH balance.
the percentage of users with more than 5 ETH on Velodrome (can call them Whales) is more than the percentage on Uniswap which we can say the percentage of Velodrome swappers are more worthy than Uniswap swappers (in terms of their ETH balance on their wallet)