Uniswap Vs Sushiswap
This dashboard covers swap activity on Uniswap Vs Sushiswap. It is my submission for the Web3 Analytics 101 Course - 1. Course Bounty: Exploring 'ez' Tables Part 1
ANALYSIS
Over the last 90 days, Uniswaps performance dwarfs that of Sushiswap with over 11.9 million unique users, 9.3 million transactions amd over 80 billion USD worth of volume swapped.
Sushiswap in the same time period attracted 726,000 unique users who generated 1.6 billion USD from a combined to tal of 625,000 transactions.
On the daily chart trends, both platforms have experienced relatively sideways movement in Active users, however, there is a slight uptrend that visibly developed in late December -January as the markets rallied during the holidays. Shishiswap also underwent a similar trend however on a smaller scale.
A similar trens is seen accross both exchanges with regards to transaction activity.
When it comes to USD volume, another key trend is visible at the very start of the 90 day period, with a significant drop in volume from the 9th - 12th of November.
CONCLUSION
Both Uniswap and Sushiswap attract a large user base however, deaspite Uniswap dwarfing Susiswap on all fronts, both exchanges seem to have correlated activity trends overtime. This could be dictated by the wider market rather than the protocols themselves.
INTRODUCTION
Decentralized exchanges are one of the most prevelant dApps built on blockchain technology. This dashboard looks at the swap activity on Uniswap Vs Sushiswap, two of the largest DEXs by swap volume and also most popular among users.
UNISWAP
Uniswap launched in November 2018 by founder Hayden Adams, and introduced the novel idea of Automated Market Makers (AMMs) which revolutionized the way users provide liquidity in a completely p2p way through liquidity pools, enanbled by smart contracts. Uniswap V1 was the first alternative to the first iteration of Decentralized exchanges (DEXs) which were orderbook style exchanges similar to traditional Centralized exchanges. Uniswap Labs has since gone on to introduce improved iterations through Uniswap V2 and Uniswap V3, each introducing a new level of innovation in the space. Recently, Uniswap ventured into the NFT market after acquiring Genie, a NFT aggregator for proffessional traders.
SUSHISWAP
Sushsiwap was introduced to the market as a fork of Uniswap and built a reputation off it, quickly establishing Uniswap as a contender for market share. Sushiwap similarly functions as a decentralized cryptocurrency exchange, allowing users to swap, leverage & margin trade on the platform in addition to being a new token launchpad and NFT artist platform.
METHODODLOGY
For this analysis, we look at the transaction activity on both DEXs and compare them over the last 90 day period, to track the unique users, transacted volume and number of transactions.
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