Introduction

Using the BentoBox, anyone may construct their own personalized and gas-efficient lending, borrowing, and collateralization markets for a wide range of DeFi tokens, stable currencies, and synthetic assets with Kashi, a lending and margin trading platform. Because to Kashi's unique isolated market framework, it is possible to have such a wide variety of tokens on the platform. Like the Sushiswap DEX, the risk of assets in one loan market has no effect on the risk of assets in another lending market. This is unlike typical DeFi money markets, where high-risk assets can bring risk to the entire protocol.

Kashi Pairs

For BentoBox, the master contract Kashi Pairs provides functionality for delivering an asset, lending that asset by providing capital, and connecting to an oracle for the exchange rate.

Method

To find the TVL of stablcoins Kashi pair I trying as below:

• In this dashboard at the first by use of [fact hourly token prices] tabel, and then we get all the names of the collateral and asset tokens here. For example, we can see the events on Bentbox where the [event name = 'LogDeploy'] separate the collateral and assets from the cloneAddress in the fact event logs table in Ethereum Core. Afterwards, we get and count the addresses based on the LogRemoveAsset, logRemoveCollateral, logAddAsset, logAddCollateral functions that have been moved. LogAddAsset and LogRemoveAsset functions are used to add and subtract the total number of available assets. and at the end excluded stablecoins by filter of (collateral_symbol in ('USDC', 'USDT', 'DAI', 'UST') or asset_symbol in ('USDC', 'USDT', 'DAI', 'UST')).

On the other hand,

• to find TVL of stablcoins on kashi pairs, I used ethereum.core.ez_dex_swaps by mutual transactions on the previous calculations to find the net flow of stablecoins on those transactions as total value locked on kashi pair pools. 

Analysis

Observation

I include USDC, USDT, DAI and UST in this analysis and trying to look for the transactions where they are deposited on Kashi for lending. by event name of 'LogAddAsset' and Removing them will generate 'LogRemoveAsset'. The above chart shows the results.

Overview

• By use of transactions hash that obtained from pervious section I calculate the net flow of four stablecoins on swaps transactions by those tx_hash.

• The results shows that USDT has the most TVL by more than $126.3M and 78.9% shares of, that followed by DAI by more than $20.3M TVL and 12.7% shares.

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• Total value locked over time are shown in the above chart that shows USDT is the most and UST is the lowest TVL on Kashi stablecoins pairs.