Outline

In this report, we take a look at the transactions of MetaMask users. Particularly, we are interested in the common transactions they perform and common platforms they use.

Here is the breakdown of the steps we took:

1. Found the users of MetaMask. We define those wallets that used MetaMask's swap feature, as MetaMask users.
2. Found the common transactions. Every transaction has a ORIGIN_FUNCTION_SIGNATURE column which is a hex entry that defines the type of transaction occurred. We also found which transaction this hex value refers to.
3. Found the platforms that are the most common for transaction.

Part 1: MetaMask Users

Considering users of MetaMask swap feature as its sole users, there are 1,003,335 number of unique wallets that can be counted as MetaMask users.

Part 2: Most Common Transactions

The following table and figure shows the activities of MetaMask users sorted by the number of times they occurred.

Our observations:

• The most common event, by a large margin, is the Transfer event. Transfer absorbs about 43% of the total activities of the MetaMask users.
• Approval, Swap, Sync and Deposit are standing on the 2nd to 5th place and in total account for about 33 percent of the transactions. Beside Transfer, these are the only events that occurred more than 10 Million times in our dataset.
• Excluding the top 10 events, the other events account for 14.9% of the transactions.

Part 3: Most Common Platforms

The following table shows the most common platforms sorted by their number of transactions.

We can see that UniswapV2Router, MetaMask and OpenSea are among the top 3 platforms used by the MetaMask users. An interesting thing is that UniswapV2Router platform's transactions is about 60% more than the second place, the MetaMask platform, and the MetaMask has more than twice the number of transactions than the third place OpenSea. This means that the top platforms has absorbed a huge share of transactions.

The following figure shows the share percentage of each platform used by the MetaMask users. We can see that 26.1% of all of the transactions are on UniswapV2Router platform! 16.5% are on MetaMask swap and 7.12% on OpenSea.

The top 10 platforms account for 67.8% of the transactions.

Conclusion

• MetaMask has about 1 Million users.
• Transfer is the most common activity of MetaMask users.
• MetaMask users favor UniswapV2Router over other platforms.