The total number of new users for both DEXs is 1,066,254, with Uniswap V3 having 40.57% more new users than Velodrome, or 429,796 more new users in comparison.

There are several possible reasons why Uniswap V3 is more successful in attracting new users than Velodrome. One reason could be that Uniswap has been operating for a longer time and has established a stronger reputation within the decentralized finance (DeFi) community. Additionally, Uniswap has a larger user base and offers a wider range of supported assets, which may make it more appealing to new users.

Another factor could be that the user experience and interface of Uniswap is more user-friendly and intuitive, making it easier for new users to navigate and use the platform. Finally, marketing and community engagement efforts may also contribute to Uniswap's success in attracting new users compared to Velodrome.

The bar chart above shows the monthly new user additions to each DEX. Uniswap has a consistent upward trend, beginning with 26.2K new users in May 2022 and peaking at 91.7K new users in May 2023. In contrast, Velodrome has a fluctuating trend, reaching its maximum of 45.4K new users in December 2022 and decreasing to 6.87K new users in May 2023. Additionally, Uniswap consistently attracts more new users than Velodrome every month, except for the first two months (May and June 2022). Uniswap has attracted more than 40K new users each month, while Velodrome has reached 40K new users in only two months, November and December 2022, and April 2023.

The area chart above displays the cumulative new user growth of each DEX, providing a better understanding of their growth patterns. As expected, Uniswap grows much faster than Velodrome. Uniswap reaches 200K new users in four months since May 2022, while Velodrome takes an additional four months to reach the same milestone. Over the 12 months since May 2022, Uniswap grows 28 times, while Velodrome grows 24 times in the 11 months since June 2022.

Velodrome is a decentralized exchange (DEX) that operates on the Optimism network, a layer 2 scaling solution for the Ethereum blockchain. Optimism is designed to provide faster and cheaper transactions for Ethereum users by using optimistic rollups, a technique that enables transactions to be processed off-chain and then verified on-chain. Velodrome aims to offer its users a fast, secure, and cost-effective trading experience on the Optimism network by providing access to a range of supported assets.

Uniswap, on the other hand, is a DEX that operates on the Ethereum blockchain. It was one of the first decentralized exchanges to gain widespread popularity and is known for its simple and user-friendly interface. Uniswap enables users to trade a variety of ERC-20 tokens directly with one another without the need for an intermediary. As a result, it offers users a more decentralized and trustless trading experience compared to traditional centralized exchanges. The popularity of Uniswap has grown significantly since its launch, and it remains one of the most widely used DEXs on the Ethereum network.

The total number of transactions executed on both DEXs is 13,576,995, and the doughnut chart above shows that new users have almost the same level of transaction activity on both DEXs, slightly in favor of Velodrome with only 2.54% or 345,175 more executed transactions.

The line chart above shows that Velodrome had dominance over Uniswap until January 2023, after which the number of transactions executed on Uniswap was higher than that on Velodrome. The higher transaction count on Uniswap in 2023 compared to 2022 may be due to a combination of factors such as higher demand for Uniswap, higher trading volume on the platform, and the availability of popular token pairs on the platform.

The chart on the left shows that each user on Velodrome has executed, on average, more transactions than each user on Uniswap. This means that, on average, each user on Velodrome swapped in a larger quantity, which is 2.47 times the swaps executed by each Uniswap user on average.

The average transactions executed by Velodrome users are decreasing, unlike Uniswap, which shows that users are losing interest in swapping on the platform. On the other hand, Uniswap users are executing more transactions each month on average, which means that Uniswap has been successfully engaging its users on its platform.

Uniswap's success in engaging users in the last 12 months can be attributed to its user-friendly interface, which has made it easy for users to learn and trade on the platform. Additionally, Uniswap's large user base and popularity have helped it maintain its position as the most engaging DEX.

• Uniswap V3 has attracted 40.57% more new users than Velodrome, with a consistent upward trend each month, while Velodrome's trend is fluctuating and decreasing.
• Possible reasons for Uniswap's success in attracting new users are its established reputation, larger user base, wider range of supported assets, and more user-friendly interface.
• Uniswap executes more transactions than Velodrome, with the higher count in 2023 possibly due to higher demand, trading volume, and availability of popular token pairs on the platform.
• Each user on Velodrome executed more transactions on average than each user on Uniswap, with Velodrome users executing larger quantities.
• The average transactions executed by Velodrome users are decreasing, while Uniswap users are executing more transactions each month, indicating successful engagement of Uniswap's users on its platform.
• Uniswap's success in engaging users can be attributed to its user-friendly interface and large user base.

This dashboard provides a comparison between Uniswap on Ethereum and Velodrome on Optimism in terms of new users and transactions executed by them. The data required to create the queries for this dashboard has been extracted from the ethereum.uniswapv3.ez_swaps and optimism.velodrome.ez_swaps tables.

Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain that allows users to swap ERC-20 tokens. On the other hand, Velodrome is a decentralized exchange built on the Optimism network, which is a Layer 2 scaling solution for Ethereum. This dashboard aims to provide insights into how these two decentralized exchanges are performing in terms of new user acquisition and transaction count.