Try Quests to earn cryptoFolks Finance Deposits and Redeems (Algorand Bounties)
Q68. Folks Finance enables borrowing and lending on the Algraond Blockchain. We are going to look at the deposits and redemption of the assets on the protocol. We want to get a better understanding of how wallets are depositing and withdrawing assets over time and how Folks Finance is growing.
Introduction
A new loan and borrowing mechanism built on Algorand has been launched by Folks Finance. gALGO3, a token you mint when you put your ALGOs into their governance pool, is one way you can still use your ALGOs with their unique liquid Algorand governance opportunity they provide. In terms of value, ALGO and gALGO3 are exactly the same. Because your ALGOs will be included in governance via their protocol and staking pool, you can still utilise their value as gALGO3 and gain governance rewards.
What issues will be addressed in this dashboard?
Here, we'll look at:
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Graph the number of deposits vs redeems by day over time.
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Graph the number of depositors vs redeemers over time time
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Graph the total amount of each asset deposited vs the total amount of each asset redeemed each day.
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Graph the total amount of each asset that has been deposited over time(factoring in when the asset is redeemed).
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Create a table charting the average deposit volume of each asset, the average deposit time in days of each asset(look at when a user deposits an asset then removes it), using the pool look also list how much is currently deposited as a column.
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Based On Your Analysis What Assets Are Most Popular To Deposit?
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And how is deposit behavior changing over time? Do we see more deposits and people depositing on Folks Finance over time?
I wrote a query by decoding this two syntax:
TRY_BASE64_DECODE_STRING(tx_message :txn :apaa [0] :: STRING) = ‘d’
TRY_BASE64_DECODE_STRING(tx_message :txn :apaa [0] :: STRING) = ‘r’
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These charts shows the global numbers separating depositors, deposit transactions and amount of deposit Vs. Redeemers, redeem tx and amount of redeems.
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As of shown charts can see that in all of three metrics, deposit action is too more than redeem action. That this is observable in Cumulative metrics in following two charts.
- Algo with 36.8% shares of deposited asset is most popular that followed by Governance Algo3 with 35.7% of deposit shares.
- Governance Algo3 with 71% shares of redeemed asset is most popular that followed by USDC with 23% of redeemed shares.