SUSHI Noobs

Here, I will discuss new Sushi users' behavior, the question is: from which address do users acquire their first $SUSHI token? There are several labels such as CEX , DEX , Staking Rewards, and Airdrop.

Finding Source Wallets

The top wallet addresses that have sent Sushi$ to new wallets (new users) are shown in the following table. In this table, you can see the name of the wallets, types of wallets (DEX, CEX,...), and finally, the number charged wallet by that source wallet. As you can see FTX has charged the highest number of new wallets and after that Binance, Crypto.com, Huobi and cte.

Introduction

As a new user, how did you get your first sushi tokens? The first way is to buy from exchanges, which include centralized (CEX) and decentralized exchanges(DEX). The second way to get your tokens is to stake other tokens and get Sushi as a reward, and eventually, it is possible that you received your tokens from an Airdrop. In this article, it is assumed that all new users have received their first sushi tokens in one of these ways. The data extraction process is such that by extracting all the wallets in the network, their first transaction (the farthest date in the network) is extracted. Then it is enough to determine from which address the first tokens were received and according to its label, it will be classified in one of the following groups.

1- DEX

2- CEX

3- Staking Reward

4- Airdrop

Here I share the top 10 source wallet that have charged new sushi wallets. As you can see different Binance's wallets have the highest proportion of charging new wallets.

Classification of source wallets by type

In this section, I categorize all source wallets based on their type. The Pie chart below shows the classification of these wallets based on their type. It is clear, the centralized exchange had the largest charge of new wallets. After that, new users get their Sushi tokens through staking rewards, decentralized exchanges, and finally airdrop.

Conclusion