Introduction

For this bounty, I will look into how users acquire their first SUSHI tokens, whether they are acquired from decentralised exchanges, centralised exchanges or if they are obtained in a completely different way.

Note: I am using the transfers table here. If the transfer table accounts for function name transfers and not event name transfers, as not all functions emmit transfer events, then the following results and analysis are correct. However, if this is not the case, then this dashboard might be incomplete to some extent, as the DEX volume needed to be accounted for separately.

How is SUSHI acquired?

Firstly, let's look at all the possible options for getting the SUSHI token and see which one is the most popular amongst users.

Quite surprisingly, we can see that the majority of SUSHI is acquired from CEXes! I say that this is a surprising result because I would have expected to see the split between CEXes and DEXes to be somewhere around 80-20%.

As centralised exchanges have a major dominance over decentralised exchanges and DeFi, let's have a closer look at which exchanges users choose to acquire their first SUSHI tokens.

Which centralised exchanges are the most popular for acquiring SUSHI?

We can see that Binance is the most popular centralised exchange for obtaining the SUSHI tokens, as it covers over half of the total amount of acquired SUSHI.

Followed by Binance, on the second place of the most popular CEX for acquiring SUSHI is Huobi, which is followed by FTX in the third place.

Conclusion

This dashboard has looked into how users acquire their first SUSHI tokens. We have found out that CEXes win by a huge majority; it is clear that decentralised exchanges and DeFi are not popular places to get the first SUSHI tokens - which was a quite surprising result to me!