Try Quests to earn SOLUniswap Vs. Raydium
Introduction
- Previously, I compared Sushiswap on Ethereum Vs. Jupiter on Solana.
- In This Analysis, You will read about two other popular DEXs on Ethereum and Solana. I compared Uniswap on Ethereum Vs. Raydium on Solana. I went through both of them and analyzed these parameters:
- Swapper
- Swaps
- Volume in USD
- Share of USDT and USDC ( From and To )
- Popular Days
- Users Breakdown
Analyzed by Hess - Reading Time Almost 12 min
Method
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As I mentioned, Previously I compared Sushiswap with Jupiter. So I used my previous code and edited it for Uniswap and Raydium.
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The method was simple. We have a Swap table on Solana and Ethereum. I found all mentioned parameters in that table. But the only problem was the Swap volume in USD on Solana. because we don’t have an exact price table for the Solana chain. So, I needed to calculate each token price on Solana.
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Using the Solana Swap table, I used the below code to calculate token prices in USD.
select date(block_timestamp) as p_date, a.swap_from_mint , (sum(SWAP_TO_AMOUNT)/sum(a.SWAP_FROM_AMOUNT)) as price from solana.core.fact_swaps a join Jupiter b on a.SWAP_FROM_MINT = b.SWAP_FROM_MINT where a.SWAP_FROM_MINT = b.SWAP_FROM_MINT and SWAP_TO_MINT = 'EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v' and p_date >= '2022-01-01' and SWAP_TO_AMOUNT > 0 and a.SWAP_FROM_AMOUNT > 0 group by 1,2
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Full Analysis
A SUMMARY OF THE MOST IMPORTANT FINDINGS
- Uniswap swappers are higher than Raydium. Almost 2.2X higher than Raydium. After May 2022, The total daily number of swappers on Raydium decreased but Uniswap keeps its swappers.
- It is interesting that 600K Unique swappers on Raydium made more than 14.5M swaps but 1.5M Unique swappers on Uniswap made 13.9M Swaps. It shows users the number of swaps per user on Raydium was higher than on Uniswap users.
- Until the last week of June, The swap share on Raydium was above 50% but week by week decreased and reached 22%.
- The daily swap volume on Uniswap was much higher than Raydium. The total swap volume since January 2022 on Uniswap is 44B US dollars and Raydium is 8.5B US dollars.
- The average swap volume in USD on Uniswap had a huge difference with Raydium. The average volume on both platforms decreased over time.
- The large group of users on both platforms swapped 100-1K US dollars and had 1-2 swaps.
- Based on days of the week, Both platforms had fewer users and volume on Weekend.
- Total Number of swaps from and to Stablecoins on Raydium was much higher than on Uniswap But the Swap volume from and to stablecoins on Uniswap was higher than on Raydium.
Conclusion
- Raydium is one of the popular Dex on the Solana chain. Before June 2022, Raydium had more users, swaps and volume but after that, all parameters dropped significantly. But Uniswap keeps its direction and parameters didn’t change too much in the bear market. I can conclude that Raydium had more active swappers but most volumes went through Uniswap in comparison to Raydium. Uniswap swappers had less activity. It is normal. Because fees on the Ethereum chain are much higher than Fees on the Solana chain.
ALL CODES AND CONTENTS WERE WRITTEN BY HESS