Welcome back to our Uniswap data dashboards of the week! Each week, we turn people’s data questions into crypto bounties for data analysts to solve.
In this edition, we’ve got two terrific Uniswap dashboards to show off. That includes a grand-prize winning submission from MarneeSeaweed and @Luckymericano.
Stablecoin pairs dominate Uniswap V3 pools 💪
Our first submission focuses on Uniswap pools — specifically the differences between the top pools on Uniswap V2 and those on V3.
As MarneeSeaweed notes in this submission, the top pools in V2 often included stablecoins and wrapped Ethereum, namely USDC-WETH and USDT-WETH. And, as we can see in the table below, meme coin pairs like SHIBA and STARL weren’t too far behind.
On V3, meanwhile, stablecoin pairings have doubled down on their dominance. The top five pairs on V3 feature stablecoins paired with wrapped Ethereum, or paired stablecoins.
Uniswap V3 fees go negative 📉 then spike 📈
Next up, we’re taking a look at fees on Uniswap V3 with some help from @Luckymericano. If we look to the graph below, we can see that total fees from V3 LPs began to gradually increase in May before seeing high volatility in mid-June. Fees first dropped to negative rates on June 22 before spiking to more than $6 million on June 24.
Why the sudden increase and decrease? @Luckymericano blames a de-pegging of sUSD, which “left liquidity providers with a lot of sUSD that momentarily lost its value compared to its pegged value.” This deviation, the submission says, could be responsible for the negative fees.
As for the increases not only on June 24, but in early-to-mid May as well, the submission says the increases in ETH prices did not lead to the spikes. Instead, the submission points to an increase in whale activity as a possible cause for the increase.
See more Uniswap data
That does it for this week. Thanks to everyone who submitted such great Uniswap data dashboards!Want to get more involved with Flipside’s community and see your own submissions on our blog? Then make sure to join us on Discord, follow on Twitter, and subscribe to our newsletter, the Bounty Brief.