Flash Challenge - 18. Borrowing activity on Aave

    Create a dashboard that covers and answers the questions below:

    How many unique borrowers of SNX, UNI, & MKR are there on Aave V2?

    What is total cumulative borrow for each asset on Aave V2?

    Can you visualize borrowing of each asset over time?

    Introduction

    AAVE V2: AAVE V2 is the second version of the Aave protocol, which is a decentralized finance (DeFi) platform on the Ethereum blockchain. The protocol allows users to lend and borrow cryptocurrencies without the need for traditional financial intermediaries such as banks. AAVE V2 includes several new features and improvements over the first version of the protocol.

    UNI Token: UNI is the native token of the Uniswap decentralized exchange (DEX), which allows users to trade cryptocurrencies without the need for centralized intermediaries. UNI token holders can participate in governance decisions for the Uniswap protocol and also receive a share of trading fees generated on the platform.

    SNX Token: SNX is the native token of the Synthetix protocol, which allows users to trade synthetic assets (such as synthetic versions of stocks, commodities, and other assets) using cryptocurrencies as collateral. SNX token holders can participate in governance decisions for the protocol and also receive a share of trading fees generated on the platform.

    MKR Token: MKR is the native token of the MakerDAO platform, which allows users to borrow the DAI stablecoin (which is pegged to the value of the US dollar) by using other cryptocurrencies as collateral. MKR token holders can participate in governance decisions for the MakerDAO protocol and also receive a share of stability fees generated on the platform.

    🛠️ Method

    To track the unique borrowers of SNX, UNI, and MKR assets on Aave V2, I created a dashboard that utilizes the AAVE table data in the FS database. The dashboard is designed to answer three key questions:

    How many unique borrowers of SNX, UNI, and MKR are there on Aave V2? What is the total cumulative borrow for each asset on Aave V2? Can borrowing of each asset be visualized over time? The dashboard is divided into multiple pages, with each page dedicated to a specific asset. There is also an overall view page that summarizes the data for all three assets.

    To make the dashboard more informative, I included visualizations that show the borrowing trend for each asset over time. Additionally, I included cumulative volume growth charts for each asset in both asset and US dollar terms.

    Overall, the dashboard provides a comprehensive view of the borrowing activity for SNX, UNI, and MKR on Aave V2, and the visualizations make it easy to identify trends and patterns in the data.

    ✍🏻 Key Insights

    Based on the findings provided in all pages:

    The number of unique borrowers for SNX, UNI, and MKR on Aave V2 are 551, 464, and 243, respectively.

    The total cumulative borrow for each asset on Aave V2 is as follows:

    • SNX: $237.5 million
    • UNI: $180.4 million
    • MKR: $168.6 million

    There is a visualization of borrowing activity over time for each asset on Aave V2. For SNX and UNI, there are weekly visualizations of unique borrowers, borrows, and borrowed volume with a moving average of 7 days, as well as cumulative state visuals of borrowed transactions, volume, and average tokens borrowed per borrower. For MKR, there is a single visualization of borrowed volume over time and a cumulative state visualization of borrowed transactions, volume, and average tokens borrowed per borrower. Additionally, there is an overview visualization of borrowing activity for all assets on Aave V2 over time.

    Hey there 👋!

    Firstly, I appreciate you sticking with it until the conclusion.

    I'm Hamed, a civil engineering Ph.D.

    student interested in data analysis.

    I've made many similar dashboards and visualizations since I started at Flipside in January.

    Please take a look at my various contact details and let me know what you think.

    About:

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    ⏳ Overall View

    According to the data in the dashboard, there are 551 unique borrowers that have borrowed UNI on Aave V2, 464 unique borrowers that have borrowed SNX, and 243 unique borrowers that have borrowed MKR in total state.

    The total borrowed volume for each asset on Aave V2 is $180.4 million for UNI, $237.5 million for SNX, and $168.6 million for MKR. This borrowing has been done through a total of 999 transactions for UNI, 1.06K transactions for SNX, and 456 transactions for MKR.

    🌡️ Analysis