SushiSwap Impact On Polygon Growth?

In this Short analysis we are going to see if introducing Polygon by SushiSwap had any effect on polygon's user basis since this implementation. In Other word, whether people show any interest to start interacting with Polygon after it is accessible through SushiSwap.

Introduction:

Polygon as a scaling solution for Ethereum L1 had a huge impact on Crypto market in past 2 years. It's hard to open a dAAP and not see Polygon on their supported chains list. Polygon is fast, have near-zero transaction fees and a great composability, despite the higher level of centralization comparing to some other rivals, and people find it highly interesting and comfortable to work with.

On the other hand, SushiSwap is #10 on the most TVL list according to Defillama with 2.28b locked (ATH 7.04b) and more than 20 chains Supported! but maybe the reason behind it's popularity is its simple UI and being one of the first DEXs on the market.

With that being said, we expect this partnership or the implementation of Polygon by SushiSwap have an observable impact on new users coming to polygon, and it is this concept that we are going to take a look at today.

Methodology:

Data for this investigation comes from FlipsideCrypto database. What criteria am i going to use to filter the concept we are looking after? As flipside determines, we are assuming that if a wallet has transacted with SushiSwap on Polygon Chain within its first two transaction, this would be good ground to assume wallet has been created to interact with SushiSwap.

There are 2 ways to interact with Sushi on Polygon:

Usual interaction that is in the form of swaps, liquidity providing, etc. This leads to interaction with sushiswap router.
Interacting with BentoBox which starts with Depositing.

We used these two path to reach our purpose.

Data & Analysis

I decided to show data in the form of Daily new users, since it's the best form for this purpose i believe; It shows how the concept impact changed over time and gives you certain points to discover further into reasons behind behaviors. Next Two Charts show how our basic Concept looks since the implementation. Also Date shown below is the block timestamp of the first SushiSwap transaction recorded on Polygon chain.

While this is very hard to trace what could be the reason behind the uptrend starting from Sep 21st 2021 to it's peak on Nov 29th 2021, it is evident that the Spike for Mar 24th and 25th 2022 for bentobox users can be credited to bentobox scavenger hunt held by flipsidecrypto, showing the impact that it has in adapting new users in different ecosystems.