The Outflow Journey Of Sushiswap Users

In this post let’s explore the users who are leaving Sushiswap and understand where they are going. Before we show the charts and talk about numbers, lets define the criteria used and make sure we are on same page. We will consider any user has left Sushiswap application if they are have not perfomed any of the following two actions in the past 30 days

  1. Performed a swap using Sushiswap DEX
  2. Provided liquidity to any Sushiswap Pool

For all these users, we will track their activity on two other popular distributed exchanges – Uniswap and Curve. Let’s start with a chart showing the weekly outflow of users from Sushiswap. Since February 2021, an average of 12 users have left each week, and the trendline on the chart indicates that the rate is slowing down, as shown below. Also, we see the biggest outflow of users in the first week of August for unknown reasons.

How did all those users who left SushiSwap do? What happened to them? It is evident from the following chart that most of them ended up choosing Uniswap while only a few left for Curve.

In early February to May, most of them left for Uniswap V2, however as you can see from the graphs below, Uniswap V3 has since emerged as a favorite destination.

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