Andrew-vKNghs
How does price volatility affect the borrow APY?
Jun 12, 2021 - The protocol does not guarantee liquidity; instead, it relies on the interest rate model to encourage it. In periods of extreme demand for an asset, the liquidity of the protocol (the tokens available to withdraw or borrow) will decline; when this occurs, interest rates rise, encouraging supply, and discouraging borrows. So in theory when there are rapid changes in prices, APY's should respond because both are driven by demand (or the lack thereof).
Largest Liquidity Providers
Jun 8, 2021 - The top LP is likely making big "limit orders" in specific Stable_Unstable pools. The 2nd and 3rd largest LP seem to take relatively large ranges in Unstable_Unstable pools and more recently in Stable_Stable pools.
Lending and borrowing rates. How are they determined?
Jun 13, 2021 - Per the whitepaper: "interest rates (the “price” of money) should increase as a function of demand; when demand is low, interest rates should be low, and vise versa when demand is high." Just as price is a function of demand, we see that Compound forces interest rates to behave in similar way. Below we explore how price volatility and COMP distribution APYs impact demand in turn impacting APYs.
Capital efficiency
Jun 15, 2021 - When comparing UniV2 and UniV3 capital efficiency, we see V3 -by design- is extremely efficient. Further, the majority of liquidity (~75% of it) is typically held within a tight range even for non Stable-Stable pairs.
Active Liquidity for 5 Largest Pools in Uniswap V3
Jun 7, 2021 - Current liquidity and behavior of the largest pools (by TVL in USD) as of 6/7/2021. Main takeaway: - The Avg. LP Address has wider ranges. Often times, the overall liquidity in Unstable Pools is inactive.
Actions of Top 20 Borrowers or Depositors of USD over last 30 days
May 5, 2021 - Net Borrowing = sum(borrows) - sum(repayments) Net Deposits = sum(deposits) - sum(redemptions)
Concentration of Liquidity
Jun 1, 2021 - Ever since the volatility starting on the 11th, there has been a decrease in overall TVL that the top 30 LP addresses as of May 10th hold. The top 30 accounts as of today have steadily increased their percentage of TVL, reaching over 50% of TVL in LPs today. There are only 6 LP addresses that have remained in the top 30 of TVL.
Borrowers vs. Depositors
May 8, 2021 - Rolling 30 day windows exploring number of accounts, volume in USD, and distinct count of transactions
Lil Nouns Secondary Sales Activity
Jun 21, 2022 - A new Lil Noun is auctioned off every ~15 minutes, forever. Each Lil Noun is given a background, body, accessory, head, and glasses based on the block in which it is minted. Each trait has an equal chance of occurrence, however, some traits seem to be more popular than others. As such, certain specific traits are sold or held more frequently than others. For this analysis, we'll be determining how often certain Lil Noun traits are sold within 24 hours of their initial auction, likely indicating that they were auctioned off cheaply (below floor price on secondary perhaps) and there wasn't as much demand or attention given to that Lil Noun when auctioned (or that secondary demand far outweighed auction demand, selling quickly). We have the following number of possible traits within each class: -- backgrounds (2) -- bodies (30) -- accessories (137) -- heads (234) -- glasses (21)
Top 50 Addresses by Symbol and Deposit or Borrow Amount in USD
Apr 22, 2021 - *All transactions within the last 60 days