Anchor Borrows and Deposits
This dashboard presents a simple visual analysis into Anchor Borrows and Deposits over time.
Approach
The USD value of borrow and deposit balances on the Anchor Protocol were calculated through the following steps:
- Calculating the daily value of borrows less repayments. This is based on transaction data from the
anchor.borrows
andanchor.repays
tables. - Calculating the daily value of deposits less withdraws. This is based on transaction data from the
anchor.deposits
and all transactions with the redeem_stables action from the Anchor contract address.
The average and total amount deposited and borrowed on each day were also calculated (this differs from the balances of borrows and deposits as it excludes repayments and withdraws).
The graph below visualises the USD value of deposits and balances on Anchor protocol over time. The balance values are on net terms - i.e. they take into account new borrows, repayments of existing borrows and deposits and withdraws.
The key observation is that both the balance of borrows and deposits have been growing rapidly over the past several months. For most of this duration the amount deposited has remained greater than the amount borrowed, but by the same proportion until late Novemember - where we have seen the MIM degenbox strategy drive a huge surge in UST deposits.
The previous graph visualised the net values of borrows and deposits for Anchor Protocol over time.
The following graphs visualise only the amount borrowed and deposited - without accounting for repayments and withdraws. This provides insights into the magnitude of borrowing and depositing transaction behaviours.
- Over almost all weeks the total amount of deposits exceeds borrows. Since the end of November the difference has become extremely large, with over 600M more deposits than borrows.
- The average amount borrowed and deposited in any transaction is generally similar