Question:

Q111. ThorSwap just recently partnered with Sushiswap to create an Onsen farm for ETH-THOR LP providers to stake their liquidity to earn extra rewards. Previously ThorSwap offered their own contract for the same purpose but this switch allows for higher rewards as well as lower slippage for the users.

Show how users reacted to this change:

• How many funds has been moved from the old contract to the new one? How much is still left in the old one?

• How many unique wallets did already move their liquidity over? How many still have to switch? "

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Approach:

To handle this investigation, the Data provided by Flipside community has been adopted, accordingly.

The data related to this analysis have been shown by ethereum.core.ez_token_transfers tables.

• The old contract of ThorSwap on Sushiswap:

  where ORIGIN_TO_ADDRESS='0xae1fc3947ee83aeb3b7fec237bcc1d194c88bc24'

  and ORIGIN_FUNCTION_SIGNATURE='0x8dbdbe6d' and CONTRACT_ADDRESS='0x3d3f13f2529ec3c84b2940155effbf9b39a8f3ec'

• The new Onsen farm for ETH-THOR LP provider:

  where ORIGIN_TO_ADDRESS='0xef0881ec094552b2e128cf945ef17a6752b4ec5d'

  and ORIGIN_FUNCTION_SIGNATURE='0x8dbdbe6d' and CONTRACT_ADDRESS='0x3d3f13f2529ec3c84b2940155effbf9b39a8f3ec'

What is Onsen farm on Sushiswap?

In addition to providing liquidity in Sushiswap, you can also use the Farm Sushi Swap section to earn money.

These farms are called Onsen. Recently, the THOR/WETH Onsen pool created due to the partnership of ThorSwap and Sushiswap.

According to the docs of Sushiswap:

> The Farm allows users to yield farm Sushi rewards with each new block based on staking SLP tokens they received from exchange.sushiswapclassic.org/#/pool. > > THOR-ETH liquidity providers on SushiSwap can stake their SLP tokens in THORSwap's Onsen farm to receive additional liquidity mining rewards — in the form of both $SUSHI and $THOR. > > The main purpose of this tool is providing extra incentives to Liquidity Poroviders > > \

Key findings:

First of all lets answer the questions ins short:

• About ==125 distinct users== deposited into the old contract but ==93 users of them withdrawn== their funds and about ==28 unique users deposited into the new Onsen farm contract==.
• The 34 distinct users remain their funds on old contract.
• Most of the funds have been withdrawn from old contact but about 1896.62 SLP have been deposited into the new Onsen farm.
• The start point of new Onsen contract is ==July 25, 2022== and on the following week of that date over 1280 SLP tokens have been deposited into Onsen by 16 distinct depositors.
• The best tool to observe the flow for funds and users from the old contract to new Onsen is the application of cumulative analysis.
• As revealed in the cumulative graphs, the application of old contract has been cut off since ==July 25, 2022== and that date is the start point of new Onsen farm.
• The breakpoint of withdrawal from old contract was on the following week of ==August 25, 2022== and the amount of withdrawal jumped at the highest level after that week.

References and useful links:

• Yiled farming on Sushiswap
• Announcement of ThorSwap partnership with Sushiswap to create an Onsen farm
• Docs on Thorswap

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani