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

• SushiSwap is a decentralized exchange (DEX) using the Ethereum blockchain. It delivers an alternative to liquidity provider (LP) tokens exchange. Using the Automated Market Maker (AMM) protocol, SushiSwap is enabled by “smart contracts,” allowing users to buy and sell through Sushi DeFi and decentralized exchanges.

• Thorswap is a multi-chain DEX aggregator built on THORChain's cross-chain liquidity protocol and the #1 interface for all THORChain services like THORNames and synthetic assets. 

• Wrapped ETH, or WETH, refers to an ERC-20 compatible version of ether. ERC-20 is a technical standard developed after the release of ETH that allows tokens created on the Ethereum blockchain, such as ZRX, to interact with each other.

from ethereum.core.fact_event_logs

• Deposit of old contract

  where event_name = 'Deposit' and 
  origin_to_address = '0xae1fc3947ee83aeb3b7fec237bcc1d194c88bc24'
  

• withdraw of the old contract

  where event_name = 'Withdraw' and 
  origin_to_address = '0xae1fc3947ee83aeb3b7fec237bcc1d194c88bc24'
  
  

• Deposit of new contract

  where ORIGIN_FUNCTION_SIGNATURE = '0x8dbdbe6d' and 
  origin_to_address = '0xef0881ec094552b2e128cf945ef17a6752b4ec5d' 
  and contract_address = lower('0x3d3f13f2529ec3c84b2940155effbf9b39a8f3ec')
  

• withdraw of the new contract

  where ORIGIN_FUNCTION_SIGNATURE = '0x0ad58d2f' and 
  origin_to_address = '0xef0881ec094552b2e128cf945ef17a6752b4ec5d' 
  and contract_address = lower('0x3d3f13f2529ec3c84b2940155effbf9b39a8f3ec')
  

• Sushiswap WETH/THOR pool

   where contract_address = lower('0x3D3F13F2529eC3C84B2940155EffBf9b39a8f3Ec')
  and event_name = 'Mint')
  and symbol <> 'SLP' and symbol <> 'DAI'
  

Old contract overview

Number of transactions

• The highest number of transactions on the old contract was on November 2021.

  This month, the number of deposited transactions was more than the withdrawal transactions.

  The number of deposited transactions was 126 and withdrawal transactions 28.

  \

• The lowest number of transactions on the old contract was on June 2022, with only 1 transaction that was deposited.

  \

• In total, the number of transactions was more in 2021 year.

Number of users

\

• The highest number of users who had transactions on the old contract was on November 2021.

  This month, 103 users had deposited transactions and 22 had withdrawal transactions.

• The lowest number of users on the old contract was on June 2022, with only 1 user who deposited their own assets.

  \

• In total, the number of transactions was more in 2021 year.

Amount of SLP

Cumulative of SLP amount

• The highest volume of SLP on the old contracts was on November 2021. The deposited transactions were almost 18.5k SLP, and the withdrawal transactions were 8344 SLP.
• The SLP volume of deposited transactions started at almost 18.5k on November 2021 and ended at 25k SLP on July 2022.
• The cumulative SLP volume of the deposited transitions grew moderately, except in December 2021, when it grew by almost 5k.
• Despite the deposited transactions volume, the withdrawal transactions had some spikes:
  • November 2021 to December 2021: grew almost 7k.
  • April 2022 to May 2022: grew almost 7k.

Total deposit on the old contract

Total withdrawal on the old contract

New contract overview

Number of transactions

• The highest number of transactions on the new contract was on the week when it started on July 25th, 2022.
• This week, the number of deposited transactions was more than the withdrawal transactions.
• The number of deposited transactions was 20, and withdrawal transactions 8.
• There were no transactions on the weeks that started on August 7th and 14th.
• There were just two withdrawal transactions in the last two days of August.
• On The first week of September, there were just two withdrawal transactions.

Number of users

\

• The highest number of users who had transactions on the new contract was in the last week of July.

  This week, 16 users had deposited transactions and 8 had withdrawal transactions.

• On The last week of August, only 2 users had withdrawal transactions.

• On The first week of September, only 2 users had withdrawal transactions.

• Only 1 user had deposited transactions on the second week of September.

Amount of SLP

Cumulative of SLP amount

• The highest volume of SLP on the new contracts was in the last week of July. This week, the volume of the deposited transactions was 1284 and withdrawal transactions was 486.8

• The cumulative deposited volume started at 1284 on July 25th and ended at 1892 on September 12th.

• The cumulative withdrawal volume started at 486.8 on July 25th and ended at 1117 on September 5th.

Total overview of Sushiswap WETH/THOR pools

Number of transactions

\

• The highest number of transactions on the WETH/THOR pool was on November 2021.

  This month, the number of deposited transactions was more than the withdrawal transactions.

  The number of deposited transactions was 164 and withdrawal transactions were 41.

  \

• The lowest number of transactions was on June 2022, with only 2 transactions that were withdrawn.

  \

• In total, the number of transactions was more in 2021 year.

Number of users

\

• The highest number of users who had transactions on the WETH/THOR pool was on November 2021.

  This month, 125 users had deposited transactions and 37 had withdrawal transactions.

• The lowest number of users on the WETH/THOR pool was on June 2022, with only 1 user who deposited their own assets.

  \

• In total, the number of users was more in 2021 year.

Total volume

Cumulative of total volume

• The highest volume on the WETH/THOR pool was on November 2021. The volume of the deposited transactions was almost 4.5 million and the withdrawal transactions were 2.33 million.
• The volume of deposited transactions started at almost 3.5 million on November 2021 and ended at 6.7 million on July 2022.
• The volume of withdrawn transactions started at almost 2.33 million on November 2021 and ended at 5.6 million on July 2022.

Extra info

What is SushiSwap Onsen?

On SushiSwap, yield farms are known as menus. Onsen Menu, in particular, allows Liquidity Providers to stake their existing LP tokens for bonus rewards.

THORSwap’s Onsen farm has no due date and will reward both $SUSHI + $THOR. The size of rewards will be decided based on pool TVL and transaction volumes. TVL puts among the Top 28 on Sushi Onsen (just behind xSushi). These pools are between 1%-8.57% APR.