Try Quests to earn AVAXSteadefi on Avalanche
Observations
The Steadify TVL on Avalanche has shown remarkable growth since its launch in April, starting from just 30K USD and reaching 664K USD. This substantial increase in TVL indicates a high level of user adoption and confidence in the platform's offerings. The fast-paced growth suggests that the platform has gained popularity and is successfully attracting users and assets.
The observation that the highest TVL belongs to the IbUSDC_GMX lending Vault , with 161K USD, highlights the significance of lending protocols on the platform. The fact that lending Vaults account for 76% of the TVL further supports the notion that users have a strong interest in depositing their assets in such pools. Lending pools are known for providing opportunities for users to earn interest on their assets while maintaining a certain level of security. The dominance of lending pools in the TVL distribution suggests that users value the passive income generation potential and the relative stability offered by these types of DeFi strategies.
Observations
The data showing significant deposits in the first week of May, with 201K USD added to the vaults, indicates a period of increased activity and interest from users. Such spikes in deposits may be influenced by various factors such as new developments, marketing efforts, or positive sentiment within the community. However, it's worth noting that a substantial portion of the total deposited assets, amounting to 1.44M USD, has been subsequently withdrawn. This suggests that while users are actively depositing funds, they are also using the platform for short-term transactions or seeking different opportunities.
The observation of an average deposit amount of 2K USD and an average withdrawal amount of 1.89K USD indicates a relatively balanced activity on the platform, with users both depositing and withdrawing similar amounts. This suggests that users are actively managing their positions and utilizing the platform for various purposes, including yield farming, staking, or participating in other DeFi strategies.
Additionally, the fact that a considerable deposit of almost 400K USD was made to the ibUSDC-GMX vault indicates the popularity and attractiveness of this particular strategy. The high deposit amount may be attributed to the potential for higher returns or other incentives offered by the ibUSDC-GMX vault, attracting a significant amount of capital from users seeking the best yield opportunities
Observations
With a total of 210 users making 1.7K transactions, we can observe that each user, on average, made approximately 7.9 transactions during their engagement with the platform. This suggests that users are actively interacting with the platform multiple times, likely participating in various DeFi activities.
Furthermore, the data indicates that on average, 11.7 users active on the platform per week, and there are 92.1 transactions per week. The relatively high number of transactions per week compared to the number of new users suggests that existing users are actively using the platform and conducting multiple transactions within a short timeframe.
It's noteworthy that the highest number of users and transactions occurred in the first week of May. This spike in activity may be related to a surge in interest due to new feature releases, marketing efforts, or other external factors influencing user engagement.
Introduction
Steadefi has an ambitious vision of providing the highest sustainable yields to investors by continuously integrating with top DeFi protocols and finding creative yield opportunities, but doing so consistently across market cycles will be challenging. While the goals of building a global community focused on high yields and risk management, expanding partnerships, and supporting diverse investors are sensible, realizing this vision will require rigorous risk assessment, transparency, and portfolio diversification. If executed well, Steadefi could become a leading platform for automated, optimized yield generation, but thoughtfully balancing rewards and risks will be critical to its long-term sustainability.
Methodolgy
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Used avalanche.core.ez_decoded_event_logs to extract deposit and withdraw data by filtering on the Event_name column. This provides accurate amount numbers for these events.
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There were 15 Vault contract addresses that users interact with to deposit/withdraw assets. Created a CT for each vault with all deposit and withdraw events, then unioned them into one table containing all needed data.
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The dashboard focuses on TVL, Deposits, Flow amounts, Users, and Transactions. Divided into 3 sections:
- TVL of platform (current and over time) and vault TVLs
- Weekly flow amount, weekly deposit amount by vaults, etc
- User stats and transaction counts
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For the first section, looked at overall platform TVL now and over time, as well as individual vault TVLs.
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Second section has weekly flow and deposit amounts by vault.
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Third section analyzes user statistics and transaction counts on the platform.