Anchor Deposits

    How have deposits on Anchor changed in the past 2 weeks? Why do you think this is?

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    Findings & Conclusion

    At the end of our investigations, here are our findings:

    • Anchor deposits are steadily on the rise. This is due to the crypto community's continual interest in Anchor's ~20% stable yield.
    • Anchor deposits are spread across all account types and range from 0.001 UST to 7872305 UST. This is because of Anchor's low barrier to entry, and low gas fees compared to savings protocols like Compound.

    With these positive data points concerning Anchor deposits, we conclude by projecting a daily growth of 22.5 million UST in the next 2 weeks.

    The daily transaction count for Anchor deposits is in 1,000s, and in the past 14 days has peaked at 3,000!

    Using estimates of 1k transactions and 15k UST average transaction volume, we can project Anchor's growth in deposits by: 1,500 * 15,000 = 22,500,000 UST

    We know Anchor deposits are steadily on the rise. Now, we want to know how frequent these deposits happen. The graph below summarises the daily deposit count over the last 14 days.

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    Frequency of Deposits

    As we can see from the bar chart above, deposits on Anchor show no sign of slowing down. For 11 out 14 days within the period under assessment, the daily average deposit was in excess of 15,000 UST. On July 31, 2021, the daily average peaked at 20,9269 UST.

    Averages

    To confirm the behavior of the chart above, we take the averages of deposits to nullify whale deposits. Whale deposits are those in excess of 1 million UST that add up significantly to deposit volumes but they are weak indicators of adoption. The exhibits below show the aggregated breakdown and the daily average Anchor deposits over the last 14 Days respectively.

    For 11 out of the 14 days, deposit volumes have surpassed 30 million UST, which signifies constant interest from the masses. Even on July 25 where deposit volume was the lowest for the period under assessment, Anchor still recorded 16 million UST worth of deposits.

    How Much Volume?

    In a savings protocol like Anchor, the volume of deposits made is a clear indicator of adoption. In the chart below, we take a look at Anchor's deposit volume over the last 14 days.

    Introduction

    The Anchor protocol provides a savings account interface where users can deposit UST to earn stable interest.

    This dashboard seeks to investigate deposits made into Anchor in the past 14 days. The following questions shall be answered to throw more light on the state of Anchor deposits:

    • What are the daily deposit volumes?
    • What are the daily averages?
    • How frequently do users deposit in Anchor?
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