Method and data

To structure the data, I relied on table dex_swaps. I also used token_prices_hourly to convert token addresses to symbols.

I, first, tried to find the first and the last event_index in each swap transactions to find in and out token and exclude within pools sends and receives. Then, from first event I chose IN and .

Therefore, I filtered out all intermediary transactions and considered the volume of IN and OUT tokens.

By doing this I identified what token swapped for what token.

I also filtered the data on platform (sushiswap) and different needed time periods.

Introduction

Sushiswap is a decentralized cryptocurrency exchange (DEX) and automated market maker (AMM) which is built on Ethereum. Through Sushiswap users are able to swap (trade), borrow, and lend tokens.

The focus of this dashboard is on gaming tokens. Gaming tokens have recently drawn a lot of attention and a significant outlook is expected for them.

The main question is what are the 5 largest crypto gaming tokens on Sushiswap? And relevant to this how did volume on Sushiswap get impacted when each of these tokens got added to the protocol and What tokens are most often used to exchange into new gaming crypto tokens?

Using the data provided by FlipSide I will try to shed some light on these questions throughout the next sections, after clarifying definitions and measures.

Definitions and measures

In this dashboard, by largest tokens I mean the tokens with the highest total volume of ingoing and outgoing in SushiSwap. And the volume is measured by the total amount of transactions in USD. Volume can also be measured by the number of transactions as well. I also limit the concentration on past two months. One can find the 5 top gaming tokens over the longer or shorter period of time. I checked the rank of five top gaming tokens in 2 months with longer period of one year and did not find notable difference.

On Sushiswap, when is a swap of a pair of tokens requested, most of the time corresponding pool will be involved and the token will receive and send directly through that pool. However, sometimes more than one pool is involved; in case the pool of the pair of tokens is not available. Therefore, to have exactly the volume of interested token, I filter out those transfers between pools or within SushiSwap.

Results

I first ranked tokens based on in and out volume ($) on SushiSwap over past two months. The results is shown in below table.

Then I manually checked the token symbols and addresses and find the following 5 gaming tokens on the top:

1- ILV | Illuvium | An open-world RPG adventure game built on the Ethereum Blockchain

2- MANA | Decentraland | Metaverse game on the Ethereum blockchain.

3- YGG | Yield Guild Games| A play-to-earn gaming guild.

4- EDEN | NFT game.

5- SQUID | SQUID game| online game inspired by NetFlix series.

Largest gaming tokens overtime

The graph below shows the cumulative sum of volume (in and out) of 5 top gaming tokens.

As can be seen, while ILV has the largest share of volume in the whole period, its impact on the volume of swaps on SushiSwap was a gradual growth. YGG similarly has a gradual growth. Unlike ILV and YGG, EDEN had a rapid growth once it was added to SuShiSwap. Two recently added tokens, SQUID and MANA, had also a sharp growth but their impact was considerably less than EDEN.

Therefore, the data demonstrates that EDEN had the most significant impact on SushiSwap volume of transactions.

Tokens used for gaming tokens

I focused on one month after adding each of the top 5 tokens and looked at the volume of tokens that has swapped for the top 5 gaming tokens.

• ILV 2021-05-01 2021-06-01
• MANA 2021-11-01 2021-12-01
• YGG 2021-08-01 2021-09-01
• EDEN 2021-08-01 2021-09-01
• SQUID 2021-11-01 2021-09-01

The below graphs show the top tokens used for adopting game tokens. Results can be summarized in the table below. For each of the tokens, I gave a score of 10 for the pair with the highest volume and 1 for the lowest volume. As can be seen, not surprisingly, WETH has the highest volume for all the top 5 gaming tokens. For some gaming tokens USDC and for the others USDT is the second most favorite pair. DAI is also after them.

	ILV	MANA	YGG	EDEN	SQUID	TOTAL
WETH	10	10	10	10	10	50
USDC	8	7	9	9	9	42
USDT	9	8	8	8	8	41
DAI	7	5	7	7	6	32
OHM	1	6			7	14
WBTC			3	4	3	10
SUSHI	2			6	2	10
FTM	3		6			9
ARCX		9				9
ILV		3	5			8

Summary of findings

Find the 5 largest crypto gaming tokens on Sushiswap.

Based on mine definition of the size of tokens on SushiSwap and focusing on the past two months, ILV, MANA, YGG, EDEN, and SQUID are the largest crypto gaming tokens on SushiSwap taking into account the past two months interactions.

How did volume on Sushiswap get impacted when each of these tokens got added to the protocol?

EDEN has the most considerable impact on the volume of transactions on SushiSwap.

What tokens are most often used to exchange into new gaming crypto tokens?

WETH, stablecoins (such as USDC and USDT), and decentralized stablecoin DAI has the highest volume (and number of transactions) when it comes to the question of what token is swapped for gaming tokens in the early stages (first month after adding to the platform).

I also made the same structure for the data based on the frequency of swaps (number of successful transactions), instead of volume of swaps. The result, in overall, was almost similar. WETH has been most often used to swap for gaming tokens. After that, fiat-backed stable coins (USDC and USDT) and DAI.

	ILV	MANA	YGG	EDEN	SQUID	TOTAL
WETH		10	10	10	10	40
USDC		9	9	9	9	36
USDT		8	8	8	8	32
DAI	10		7	7		24
OHM	5	7			7	19
SUSHI	7			6	3	16
LOBI		1			6	7
AXS			6			6
ARCH				5		5
ANY	5					5

In the below you can find rank and score of the frequency of use of tokens as pairs of SQUID as an example.