Try Quests to earn NEARTourist Journeys
Methodā”
For this bounty, i analyzed 2 DEXs on 2 different layer 1 blockchains, Sushiswap on Ethereum and Ref Finance on NEAR. At first i analyzed swap, swappers and swap pools on both total and daily metrics and then compared these platforms that i mentioned to each other with these metrics. Then in the second part i analyzed top 5 swap pools on mentioned platforms in terms of number of swaps and swappers and in the end i explored daily successful and failed swaps of Ref finance and Sushiswap.
For gathering the needed data about swaps, i used ==near.core== schema for Ref finance swap stats and ==Ethereum.sushi== schema for Sushiswap swap stats. Then i got help from ez_dex_swaps table for Ref Finance and ez_swaps table for Sushiswap. I also filtered Ref finance data from near table with
platform = 'v2.ref-finance.near'.
All the charts and analytics that you are going to see are since August 2022. ==(2022-08-01)==
Introductionš©
What is Sushiswap?
SushiSwap is a software running on Ethereum that seeks to incentivize a network of users to operate a platform where users can buy and sell crypto assets.
More Info
What is Ref Finance?
Ref Finance is a community-led, multi-purpose Decentralized Finance (DeFi) platform built on NEAR Protocol. The ref takes advantage of NEAR's low fees, one-to-two second finality, and WebAssembly-based runtime.
In the charts above i showed daily swaps and share of swaps between these 2 platforms, Ref Finance and Sushiswap.
As we see Sushiswap had more swaps than Ref Finance in past 3 months. Sushsiwap accounts 87.3% of the share of these platforms swaps and recorded over 600K swaps since August while Ref Finance recorded under 100K swaps in this period of time. Number of swaps on Sushiswap experienced an all-time high on Sep 17th in past 3 months but it dropped badly after that day and couldnāt keep its hype for a long time.
In the charts above i showed daily and the share of Sushiswap and Ref Finance swappers since the beginning of August.
According to the charts, Sushiswap had over 140K swappers during past 3 months while Ref finance had only 46 swappers. But it is interesting that only 46 swapper recorded almost 100K swaps on Ref finance.
In these charts im showing the number of pools and their distribution between the mentioned platforms.
We see that Sushiswap has over 1800 swap pools and it is 1600 pool more than ref finance because ref finance only has 205 swap pools. from this assertion we conclude that sushi has more swaps because it has more various pools and more users will attract to it over time.
==USDC-WETH== is the most popular pool between sushiswap users in past 3 months on both number of swaps and swappers.
Over 36K swappers used this pool and recorded over 87K swaps with it.
==USDT/wNEAR== is the most popular pool on Ref finance. It is expected that only 22 swappers recorded over 22K number of swaps since August in this pool on Ref Finance.
It seems that stable coins like USDC and USDT are very useful in swap events on both platforms.
Both USDT and USDC are in the top 2 pools on both platforms.
In the charts above i analyzed the successful and failed swaps on both platforms and found it out that sushiswap didnt have any failed swaps in past 3 months.
It seems some system issue or server bug happened in Ref Finance servers on Aug 20th and Aug 21th and these 2 days recorded over 3M failed swaps together, Something that is unprecedented in that platform
Conclusionš”
- Over 140K swappers recorded 678K number of swaps on Sushiswap since August
- 46 swappers recorded 98.8K number of swaps on Ref Finance since August
- In Overall, These platforms swap stats were bearish and decreasing with a gentle slope over time
- Sushiswap is so bigger than Ref Finance and has 1600 pool more than it
- Sushiswap is on Ethereum blockchain and Ref Finance is on NEAR blockchain, obviously Ethereum is more popular and bigger than NEAR and Sushiswap launched so much earlier than Ref finance, so from these assertions we concludes that sushiswap should be more popular than Ref finance, which it is
- On most days, Ref Finance Successful Swaps were more than Failed swaps except Aug 20th & 21th
- Although Ref finance had a few swappers in past 3 months, but they recorded a massive number of swaps in this short period
- Ref Finance daily number of swaps had so many fluctuations since September
- USDC-WETH is the most popular swap pool on Sushiswap in terms of swaps and swappers and USDT-wNEAR is the most popular pool on Ref Finance in terms of swaps and swappers
- In swaps comparison between these 2 platforms, sushiswap had over 87% of swaps since August
- Stablecoins specially USDC and USDT are very useful and popular between swappers on both platforms