Metamask vs. Other Platforms

    Info

    MetaMask is a cryptocurrency wallet that enables users to store Ether and other ERC-20 tokens.

    MetaMask is one of the leading crypto wallets and leans on browser integration and practical design to perform as one of the main gateways to the world of Web3, decentralized finance (DeFi), and NFTs.

    Uniswap is an automated liquidity protocol powered by a constant product formula enforced in a system of non-upgradeable smart contracts on the Ethereum blockchain. It precludes the need for trusted arbitrators, prioritizing decentralization, censorship resistance, and security.

    SushiSwap enables the buying and selling of different cryptocurrencies between users. 0.3% fees are charged for facilitating each swap, with 0.25% going to liquidity providers and 0.05% being converted to SUSHI and distributed to users holding the SUSHI token.

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    Methods

    • I compared Metamask VS. Uniswap and Sushiswap, which are popular ETH platforms.
    • Tables: ethereum.core.fact_event_logs , ethereum.core.ez_token_transfers , ethereum.core.ez_dex_swaps
    • Metamask ORIGIN_TO_ADDRESS = lower('0x881d40237659c251811cec9c364ef91dc08d300c')
    • Sushi ORIGIN_FROM_ADDRESS != lower('0x881d40237659c251811cec9c364ef91dc08d300c') and ORIGIN_to_ADDRESS != lower('0x881d40237659c251811cec9c364ef91dc08d300c') and origin_to_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915') and origin_from_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915'
    • Uniswap ORIGIN_FROM_ADDRESS <> '0x881d40237659c251811cec9c364ef91dc08d300c' and ORIGIN_to_ADDRESS <> '0x881d40237659c251811cec9c364ef91dc08d300c' and origin_to_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915') and origin_from_address != lower('0xF326e4dE8F66A0BDC0970b79E0924e33c79f1915'
    • block_timestamp::date >= '2022-01-26'

    Note: I filtered these tokens because of the unusual data.

    and symbol not in ('SAITAMA','BTCBR','PARAINU', 'Para', 'Akihiko','X2Y2','ETHM','VOLT','SHINJA','ShibDoge','$WEAPON','BurnX','CENT','SHINTAMA','DG','DSD','PN','ABC')

    Compare unique users on each platform

    This chart shows the number of unique users with transactions on each platform.

    As the chart shows, the number of unique users was the most on Uniswap.

    • The most unique user was on March 29th, 2022. On this day, 16.55k users were on Uniswap, 2096 on Sushiswap, and 3437 users had transactions on Metamask.==

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    • Uniswap: The most unique user on this platform was on March 29th, with 16.55k.

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    • Sushiswap: The most unique user on this platform with 1625 was on February 24th.

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    • Metamask: The number of unique users was the most on February 18th. On this day, the number of users was 6795.

    • Of the total unique users, Uniswap, with 70.4%, had the most unique users.
    • Sushiswap had 10.9% of all unique users.
    • 17.8% of the unique users belonged to Metamask.

    • Around 1.5 million users had daily transactions on Uniswap.
    • Metamask had 461,749 daily active users.
    • And Sushiswap had 281,529 daily users.

    Volume that were done by users on each platform

    This chart shows the amount of USD that users used to do transactions.

    • The most USD volume belonged to July 18th.

    • On this day, around 15 billion USD was used to make transactions on Uniswap, Sushiswap had 19 million of the total volume of this day, and around 8 million USD was used on Metamask.


    • Uniswap: The most USD volume on this platform was on July 18th, with around 15 billion USD.
    • Sushiswap: The most volume on this platform, with 237 million, was on March 12th.
    • Metamask: The USD volume was the most on May 12th. On this day, the amount of USD that was transferred on Metamask was around 67 million.

    Of the total USD volume that was transferred on each platform:

    • Uniswap was in first place with 74%
    • Sushiswap had 18.5%part of the total USD volume
    • Only 7.55% of the USD volume belonged to Metamask.

    Compare the number of swap on each platform

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    • Uniswap: The most swaps on this platform was on July 18th, with 34k transactions.

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    • Sushiswap: The most number of swaps on this platform with 5570 was on May 11th.

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    • Metamask: The number of swaps was the most on February 18th. On this day the 7931 swaps happened on Metamask

    Of the total number of swaps on each platform:

    • Uniswap was in first place with 74.5% and had around 3.3 million transactions from January 26th till July 24th.

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    • Sushiswap had 11%part of the total number of swaps. This platform had 476,639 swaps

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    • 13.2% of the number of swaps belonged to Metamask. Metamask had 571k swaps.

    compare average USD amount that swapped on each platform

    The average amount of USD used to be swapped on each platform was the most on July 18th.

    On this day, the average USD amount of swaps on Uniswap was around 1 million, on Sushiswap was 8k, and on Metamask was 4500.

    • Uniswap: The highest average USD amount of swaps on Uniswap was around 1 million on July 18th.
    • Sushiswap: The most average USD on this platform with 52k was on May 12th.

    - Metamask: The USD average that used to swap on Metamask was the most on July 6th. On this day average value of USD was 96k.

    Despite the three previous parts, Sushi takes the first place in the Average amount of USD.

    • Sushiswap hat 44.6% part of the total average USD.
    • Uniswap had 38.3 parts.
    • And finally, Metamask had 19.2% of the total swap’s average USD value.
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    Compare the total fee on each platform

    The highest ETH that was paid as a fee was on May 12th:

    • On this day, 1960 ETH was paid on Uniswap,
    • 1623 ETH on Sushiswap,
    • and 248 ETH was paid on Metamask.
    • Uniswap gained 74.5% of the total fees among the other platforms.
    • Sushiswap had 18.7% part.
    • And Metamask had only gained 7% of the total ETH paid as a fee.

    Conclusion

    Of all the platforms that support ETH, Uniswap was the first platform that attract more users.

    Sushi swap was the second and Metamask was in the third place.

    Question:

    Q3. How many users are swapping via MetaMask vs other platforms? How much volume have these users doing? Chart a comparison between the two, and show the following metrics over a time period of your choosing: transaction volume, average amount swapped, and a comparison of fees.

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    News of July 18th:

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    • Uniswap and Coinbase now have nearly equal daily volumes.

    • Uniswap had trends on having noticeable USD volume, number of swaps, and the average amount of USD on July 18th.

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    • The highest USD volume on this platform was on July 18th, with around 15 billion USD.

    • This platform's highest number of swaps was on July 18th, with 34k transactions.

    • The highest average USD amount of swaps on Uniswap was around 1 million on July 18th.

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