Question

• Using the table ethereum.core.ez_dex_swaps, describe any correlations in activity between Uniswap and Sushiswap.

  One could use TVL, transactions, transaction volume, number of unique users, or any other metric of your choosing to describe activity.

  When there is a surge in activity on one platform, does it happen on the other?

• For a challenge, use the polygon.core.fact_transactions or polygon.core.fact_event_logs table to compare activity of one, or both, of these DEXes across two chains (Ethereum and Polygon). What are you able to extract from the transaction-level data?

Introduction

• Uniswap and Sushiswap are both decentralized exchange (DEX) in other words, “marketplaces” where users can trade their assets using smart contracts, without a central figure.
• Both DEXes are in the Ethereum and Polygon Network, although they have different address in both networks.
• Which is their favorite DEX for users in the Ethereum blockchain?, and how these DEXes compare with their Polygon DEX? are some of the questions to be answered in this dashboard.

Methodology

• Using Flipside data bank tables:
  • ethereum.sushi.ez_swaps: Sushiswap info in Ethereum.
  • polygon.sushi.ez_swaps: Sushiswap info in Polygon.
  • ethereum.core.ez_dex_swaps: To get info about Uniswap in Ethereum.
  • polygon.core.fact_transactions: To get info about Uniswap in Polygon.

Uniswap is by far the DEX most used in Ethereum (in comparison with Sushiswap), because of the high difference in users and swaps, is difficult to notice a correlation in the last months, but the notable spikes and valleys of Sushiswap seem to correlate with spikes or valleys in the Uniswap side.

This correlation is more easy to see in the USD volume comparison, where the Sushiswap spikes seems to correlate with Uniswap.

Seems that Sushiswap activity correlates with Uniswap (at least the big spikes and valleys), but not otherwise.

Now let’s look at Uniswap in Ethereum and Polygon.

Because there isn’t a table for swaps in polygon (at least not for Uniswap) i have to use the transactions table, hence the reason i didn’t include a USD volume comparison.

As expected Ethereum have the biggest numbers in users and swaps, and their activity doesn’t correlate too much, for example in June 26 there is a spike for users in Polygon but in Ethereum there is a valley, in other case in August 12-13 Polygon Uniswap presents a valley where Ethereum is in an uptrend.

Now Sushiswap in Polygon and Ethereum.

Because Sushiswap have specific sushi tables for Ethereum and Polygon i can include the USD volume, the first thing to notice is how popular is Sushiswap in Polygon, the number of users and swaps is higher than Ethereum in some days, but at the end of July, an start of August, Ethereum Sushiswap activity is higher than Polygon.

In USD volume, Ethereum as expected have higher volume because is more expensive than Polygon, so users trade higher volume of assets.

It seems that Polygon Network data from August 12-13 seems to be missing, because both DEXes presents lower numbers.

Summary

• Uniswap DEX in Ethereum is most used by users than Sushiswap, because of this, when Sushiswap presents valleys or spikes, these correlates with Uniswap, but not the other way.
• Uniswap in Polygon doesn’t have the same activity than Ethereum, and also doesn’t correlate.
• Sushiswap is most used by users in the Polygon Network, and some days their activity is higher than Ethereum, but still Ethereum Sushiswap presents higher volume of USD and activity in the later days.