Sushi during Volatile Times II

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    Introduction

    The recent volatile time turbulenced blockchain projects. The second week of May saw the collapse of the Terra chain which led to a big crash in the crypto market. This incident occurred at a time that the market was declining. The impacts of these volatile times on the activity of users in blockchain projects are worth studying.

    SushiSwap runs on different chains including Ethereum, Harmony, and Polygon. This dashboard investigates how the recent volatile times have affected swapping activities of Sushiswap in three different chains: Harmony, Ethereum, and Polygon.

    Results

    The graph below shows the daily number of swaps on different blockchains. A surge in the daily number of swaps across all three blockchains can be seen on May 11th.

    The number of swaps on Harmony on May 11th is almost 5 times higher than the number of swaps on May 8th.

    We can see also since then the number of swaps has been declined sharply.

    The graph below shows the daily number of unique swappers over time. We can see that while the trend for all three blockchains is declining on May 11th a significant increase happened.

    The downward trend is observable in amount of swaps as well.

    We can see that the slop of declining trend has been steeper after the incident.

    Notable findings

    • The number and amount of swaps and the number of unique swappers of Sushiswap on all three blockchains are declining.

    • All metrics jumped on May 11th. However, they all after a couple of days fell down.

    • The increase in the number of swaps and swappers on Harmony is higher than other blockchains.

    • Polygon is the most popular blockchain in terms of the daily number of unique swappers.

    • Harmony is the most popular blockchain in terms of the daily number of swps.

    • Ethereum is the most popular blockchain in terms of the amount of swaps (in USD).