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Introduction
One of the main problems with the Ethereum blockchain is scalability. As more and more decentralized apps (Dapps) are built on the blockchain and the number of transactions is increased, the ability of blockchains to manage a higher number of transactions in a second and a lower transaction fee have been put at the center stage. Several attempts have been done to solve the Ethereum scalability problem by adding a layer on top of Ethereum. Amongst the most successful and well-known ones Optimism can be named.
With the recent Ethereum merge and mitigating the transaction fee problem the growth of Layer 2 solutions have put into question. However, these blockchains are striving to growth with expanding their ecosystem and offering more opportunity for game, defi and other blockchain sectors. Integrating SushiSwap into Optimism is one of the attempts to expand the Optimism ecosystem and attract more user.
Sushiswap is well-known for their liquidity pools that provides opportunity for swapping numerous pairs of assets built initially on Ethereum.
This dashboard examines how the integration of SushiSwap contributes to the user growth of Optimism.
Method and Data
To examine the contribution of Sushiswap to Optimism growth, we present how many and what percentage of wallet addresses adopt Optimism because of swapping with SushiSwap.
To do so, we calculate what percentage of new users transacted with SushiSwap in the same day of adopting Optimism.
Technically speaking, using optimism.core.fact_transactions we first identify the date of first transaction of an Optimism user. Then, we use optimism.sushi.ez_swaps to find whether the very user executed at least one swap at the same day or not.
Definitions and Measurements
Active user is defined as a user who executed a transaction on Optimism. The number of active users in a day is measured by the number of unique users who executed at least one transaction on the very day.
New user is defined as users who executed their first transaction on Optimism.
SushiSwap Newcomer is defined as users who executed at least a swap with SushiSwap on the same date they executed their first transaction on Optimism.
SushiSwap on Optimism
This section reveals how the Optimism users execute swap on SushiSwap. We can see how the daily number of active swappers as well as new swappers with SushiSwap on Optimism has changed over time.
The data shows that both the daily number of new swappers and the daily number of active swappers using SushiSwap on Optimism are growing.
This section shows how many users adopt Optimism because of SushiSwap and what is the percentage of these users compared to the all new users in a day.
The data shows that the daily number of Sushi newcomers has growth in the past month.
July 1st the number of SushiSwap newcomers sparked.
Graphs below show how the daily number of SushiSwap newcomers relative to the number of Optimism new users has changed over time.
We can see that the percent of daily number of users who adopted Optimism relative to all new optimism user is less that 1%. However, this percent and absolute number is growing.
Conclusion
This dashboard investigates how users adopted Optimism through SushiSwap.
The data shows that since mid May when SushiSwap was introduced to Optimism users less than 1% users adopted Optimism through SushiSwap. However, the data shows that since may the daily number of active users on Optimism has growth, We can see also the absolute number of daily newcomers is also growing.
We can conclude that offering SushiSwap swap on Optimism has contributed to the tiny portion of new users, however as the number of new users on Optimism is growing this number is becoming considerable.
Also, overall, we can see that the integration of SushiSwap has coincided with the starting point of Optimism active user growing trend. This implies that SushiSwap on Optimism may contribute to keeping more users active on Optimism.