Gas as a proxy of activity

    How much did sushi users pay for gas in 2022? Is there a correlation with the price of ETH? Can you comment on the spikes in the chart?

    What is GAS?

    • Gas can be considered like gasoline in the real world. Gasoline is the fuel of the car, and if you want your gasoline car to move, you have to buy gasoline (gas) for your car by paying money (ether). In the Atrium network, the cost you pay for gassing goes to the Atrium miners.

    In the case of gas, we are dealing with some concepts:

    • Gas limit: To perform the transaction, the user must specify a limit. Gas limit is the amount of fuel that the user is willing to pay to perform an operation on the network, and when we talk about gas alone, it means the same gas limit.
    • Gas price: Gas price is also the amount of cost that you have to pay for each gas limit. Gas is paid for with ether, but because it is so low, it is displayed in "Wei". Each 1 Wei is equal to 0.00000000000000000001 Ether. The Ethereum network leaves everyone free to set as much as they like the cost of Gas or Gas Price, but if your Gas Price is too low, the miners will not approve your transaction and will prefer to approve transactions with higher fees. . Therefore, the amount of gas price to perform the operation can vary depending on the network congestion or solitude. The current Gass Price average for transaction confirmation is 20 Gwei (or 0.000000002 ETH), but sometimes this figure increases dramatically as the network becomes congested; Therefore, the Ethereum network fee is equal to the price of Gas multiplied by the price of Gas.
    • Gas used: The amount of gas used by the transaction.

    ETH Fee

    • ETH Fee = Gas limit × Gas Price ---> For example, if you want to make a regular transaction, you must specify a limit of 21,000 Gas, and if the Ethereum network is empty, you can set the gassing price to 20 Gwei (each Gwei equals 100,000,000 Wei). So, your transaction fee is 21,000 times 20, which is equal to 420,000 Gwei or 0.00042 ether. A little more gas is needed to transfer the tokens.

    Description of work:

    • In this Bounties we want to:
      • How much did sushi users pay for gas in 2022?
      • Check the ETH price and compare with Gas used in Sushiswap transactions in 2022.

    1 ---> How much did sushi users pay for gas in 2022?

    • To address this section:
      • We first all sushiswap swaps from [ethereum.core.ez_dex_swaps swaps] table and join with [ethereum.core.fact_transactions] using tx_hash
      • Eventually, we calculate gas used by [sum(transactions.gas_used)]
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    The charts above show the amount of Gas paid by users based on Gwei and Ether in sushiswap. According to the results, it is clear that:

    • The amount of Gas paid before 11 and 12 May 2022 shows the normal amount
    • On May 11 and 12, 2022, the amount of gas paid shows a significant increase. After reviewing the ETH price and market conditions, we will pay attention to the desired result in those two days

    2 ---> Check the ETH price and compare with Gas used in Sushiswap transactions in 2022

    • To address this section:
      • We use the [ethereum.core.fact_hourly_token_prices] for find daily ETH price in 2022
      • Eventually, we compare the ETH price with Gas used in Sushiswap transactions
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    The charts above show Compare ETH daily price with Gas used in Sushiswap transactions. According to the results obtained, it can be seen that:

    • On May 11 and 12, we see the highest amount of Gas paid by users on sushiswap, at the same time the price of ETH is declining and approaching its lowest value in recent times.
    • On May 11, LUNA crashed and we saw an unprecedented fall in the market, and the whole market, including BTC and ETH, approached its lowest price on this date. Given that at this time users were trying to convert their currencies into StableCoin and there were usually many transactions on the ethereum network, and given that the gas price is determined based on the volume of transactions and the busyness of the ethereum network in this As the network was busy, the price of gas also increased, followed by increased gas prices and higher transaction costs.