Try Quests to earn cryptoSushi vs Uni on L2
Introduction
What are layer 2s?
A layer 2 refers to any off-chain network, system, or technology built on top of a blockchain (commonly known as a layer-1 network) that helps extend the capabilities of the underlying base layer network. Layer-2 networks can support any blockchain to introduce enhancements such as higher transaction throughputs.
One core requirement for a network, system, or technology to be considered a layer 2 is that it inherits the security of the blockchain it is built on top of. Transaction data must, in some shape or form, be verified and confirmed by the underlying blockchain network rather than a separate set of nodes. For example, sidechains are often not considered layer 2s because they usually deploy their own consensus mechanisms and validators, leading to a different set of security guarantees than that of the base layer chain.
For blockchains that sacrifice scalability to achieve higher decentralization and security, layer 2s enable greater transaction throughput, which can lead to lower fees. Layer 2s can be seen as one solution to the problem of scalability, enabling fast and scalable execution without compromising on decentralization or security.
What is UniSwap?
If you navigate the existing DeFi ecosystem, then you are most likely to come across Uniswap as a top DEX. It is presently the world’s most popular decentralized exchange, which allows users to deposit money in liquidity pools. Users can also leverage the DEX platform for swapping between currencies for a small transaction fee.
The liquidity pools in Uniswap serve as representatives of a token pair with two Ethereum-based cryptocurrencies. People who contribute to the liquidity pools are termed liquidity providers who receive fees from the swaps in the pools. The liquidity pools in Uniswap are basically Ethereum smart contracts that help in the automation of market-making. Furthermore, the liquidity pool smart contracts also support automatic management of all the swap features.
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How do Sushi vs Uni Work?
Uniswap goes by a lot of fancy names. Liquidity protocol, automated money market, DeFi exchange, the list goes on.
None of this helps you understand one simple and basic fact about Uniswap — it's an exchange. Yep, just an exchange, albeit a decentralized open-source one running on Ethereum. You can use Gemini to trade for some OMG, you can use Coinbase for the same, or you can use Uniswap.
It all comes down to what you want to get out of your exchange. If you don't mind paying Brian Armstrong over at Coinbase a share of the transaction fee, along with giving up some of your pseudonymity, then Coinbase is a strong option.
But, if you believe in the premise of crypto (decentralize everything), then you might like Uniswap better.
There's no one in the middle to take a cut of the fees (fees go to liquidity providers). You don't have to perform KYC to use it (Uniswap never asks for your information). Earn money by providing liquidity to the protocol.
Question
Compare the market share of Sushiswap and Uniswap on the following L2 chains.
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Polygon, Arbitrum, Optimism. Use measures such as number of trade or number of swaps, etc.
Methodology
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What we will see in this dashboard are
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In this query :
arbitrum.core.fact_event_logs , arbitrum.core.dim_labels ,optimism.core.fact_event_logs ,optimism.core.dim_labels ,polygon.core.fact_event_logs ,polygon.core.dim_labels -
We look at the activity of Sushi Swap vs. Uniswap on the Arbitrage, Optimism, and Polygon blockchains.
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We measure DEX activity in terms of active users and their engagement.
Conclusion
- Arbitrum DEX activity
- 580K transactions with Uniswap and Sushiswap on Arbitrum
- In September, SushiSwap has been active.
- In the summer season of this year, Uniswap had relatively more activity than Sushiswap.
- According to the results, it can be concluded that users interact more with Sushiswap in Abitrum.
- Optimism DEX activity
- 344 thousand transactions with Uniswap and Sushiswap in Optimism
- In the summer season of this year, Uniswap has been relatively more active than Optimism.
- According to the results, it can be concluded that users interact more with Uniswap in Abitrum.
- Polygon DEX activity
- 19Million transactions with Uniswap and Sushiswap in Optimism
- In the summer season of this year, Uniswap has been relatively more active than Polygon.
- According to the results, it can be concluded that users interact more with Sushiswap in Polygon.
