In this analysis, You will read about Sushi Token. We want to know What is the first thing new users do when they acquire SUSHI?
Sushi (SUSHI) is an Ethereum cryptocurrency token tied to the SushiSwap exchange, which is a decentralized exchange. Sushi owners can participate in community governance and stake their tokens to earn some of SushiSwap's transaction fees, also known as gas.
First I found the first time that users got their Sushis. I used flipside_prod_db.ethereum.erc20_balances table and min formula to reach those addresses.
Then I put those addresses in the different tables to find what was the first transaction types.
The first thing that they did was nothing! They Just hold their Sushis in their wallets.
- 20% of those wallets did transactions but 80% of them just hold.
- ABout 4% of wallets swapped their Sushis.
The below chart shows the share of events that users did with their Sushis.
- 32% of users transferred their Sushis.
- About 10% Enter the liquidities.
- 9.7% of users swapped for a token.
- 9.2% of users withdraw their Sushis.
- 8.7% of users swapped for ETH.
- 8% of users deposited.
- 3% of users claimed rewards.
The below chart shows the top activities that users did. I explained each in the previous charts.
- The first group of users was Holder. Most users hold their Sushis.
- The second group transferred their Sushis. Maybe to a Cex or other wallets.
- The third group swapped their Sushis.
Written By Hess
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