Gas consumption tells many stories, from the rise of DEXs to the rotation of capital from DeFi to NFTs.
I coded up a viz to explore the top gas guzzlers on Ethereum with data from @nansen_ai.
Some insights below but even better, see what you can find!
gasguzzlers.wtf
Rise of MEV.
2022 was the first year a MEV searcher broke into top 10 gas consuming contracts.
research.paradigm.xyz/MEV
dashboard.flashbots.net
Rise of Stables.
Gas consumed by Tether reached an ATH during DeFi Summer with continued usage in 2021/2022.
Rise of Liquidity Mining.
Catalyzed by SNX & Chainlink, moving to protocols such as Compound, Sushi (1st real vampire attack), Curve, etc.
Over 2019 to 2021, liquidity mining grew DeFi by orders of magnitude.
Step-function rise of Uniswap in 2020, gobbling up market share from gen1 DEXs & oracles.
Top gas consuming categories of 2022 so far:
DEXs
NFT Marketplaces
NFT Collections
Stables
WETH
Mining
MEV
Wallets
Identity
Lending
Yield Farming
L2s/Sidechains
Bridges
Gaming
Meme Coins
Comparing to prev years, the new breakouts are L2s/Sidechains, Identity, Gaming and Bridges.
Top gas consuming contracts in 2022 so far:
@Uniswap
@opensea
@OthersideMeta
USDC
WETH
@1inch
@Strongblock_io
MEV searcher
@MetaMask
@0xProject
@Tether_to
@LooksRare
@SushiSwap
@ensdomains
@AaveAave
@CurveFinance
@gemxyz
@chainlink
@ConvexFinance
@geniexyz
Top gas consuming contracts 2017 - 2022
@Uniswap
@opensea
@Tether_to
1inch.exchange
WETH
@AaveAave
MEV
@0xProject
@chainlink
@SushiSwap
USDC
Centre
Curve.fi
@synthetix_io
@MetaMask
@compoundfinance
@dYdX
@BalancerLabs
@Strongblock_io
@MakerDAO
Is this data helpful? Should we build out a permanent gas consumption tracker that pulls fresh data daily?
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