CowSwap - Market Mover?
Has CowSwap shifted the token exchange market? Show the number of swaps that are done on CowSwap compared to other DEXs over the past several months. What DEXs are the users of CowSwap coming from?
Introduction
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CowSwap has shifted the token exchange market such that it is a DEX aggregator that assists users by routing swaps to the DEX with the best price. If Sushiswap has the best price for a swap, swaps will be routed to be completed on Sushiswap. Swaps will be routed elsewhere if there is a better price elsewhere.
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CowSwap assists users in navigating the complexities of crypto networks. Users can simply swap on CowSwap to ensure they get the best price, eliminating the need to compare prices across DEXes.
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In this dashboard, we will be looking at the number of swaps that are done on CowSwap compared to Uniswap and Sushiswap since August 2021.
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Then, we will look at which DEXs are the users of CowSwap coming from.
- The bar chart above displays the number of swaps performed on CowSwap versus Uniswap and Sushiswap since August 2021.
- As can be seen, the number of swaps on CowSwaps remains low in comparison to Sushiswap and Uniswap. Most days, the number of swaps on Cowswap has been in the 3 digits, while swaps on Sushiswap and Uniswap have been in the 6 digits.
- The bar chart above shows percentage of CowSwap users that uses Sushiswap vs percentage of CowSwap users that uses Uniswap.
- As can be seen, most CowSwap users are also users of Uniswap, with around 88.8889%. On the other hand, 72.222% of CowSwap users are users of Sushiswap.
- Therefore, we can say that majority of CowSwap users are coming from Uniswap.
Conclusion
- In comparison to Sushiswap and Uniswap, the number of swaps on CowSwaps remains low. The number of swaps on Cowswap has been in the 3 digits on most days, while number of swaps on Sushiswap and Uniswap have been in the 6 digits.
- We infer that the vast majority of CowSwap users are from Uniswap.