Metric Dashboard

    AAVE metrics for any given week in the past year.

    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Introduction

    AAVE is platform that leverages decentralized finance protocols to provide lending, borrowing and savings services to crypto token holders. In recent times, AAVE has been ranked as the no. 3 DeFi platform by total value locked (TVL).

    This dashboard breaks down the AAVE ecosystem into tiny bits of metrics to aid stakeholders to understand what is really happening behind the interface.

    Total Liquidity

    The first point of investigation is total liquidity. We want to know the total amount of liquid funds in aave pools on a week-by-week basis. This is determined by summing up all liquidity and taking the average per week as is visualized in the graph below.

    We can see a steady rise in total liquidity over the weeks even amid peaks and troughs. Over the past year, the total weekly average has risen from 66.5M USD to 308.7M USD.

    % Utilization and Interest Generation

    Utilization percentage refers the share of the reserve which has been lent out, for which interests are being generated.

    Next, let's take a look at the most utilized reserves. This is determined by calculating the average utilization rate over the past year.

    Presented below are the interests generated in USD for depositors by AAVE Reserves.

    Flashloan Volume & Fees

    Aave enables flashloans, which are rapidly executed loans that are paid back in quick succession without the need for a collateral. Here's a numerical breakdown of Aave flashloans in USD.

    For a total of 5.6B USD in flashloans collected, the average flashloan amount stood at 214,357.90 USD. Flashloans earned depositors 5.1M USD in fees over the past year which represents 0.089%. Let's now zoom out and look at flashloan volumes week-by-week.

    Weekly flashloan amounts show a zig-zag pattern with a record of two major peaks. The first peak which happened in the week of April 26 to May 3, 2021 saw flashloans at 623.7M USD. The highest week yet in the history of aave flashloans happened from May 10 to May 10, 2021 with a volume of 1.6B USD. In a regular week, flashloans fall below the threshold of 500M USD.

    Liquidation & Liquidation Fees

    Regular aave loans, those that require collateral, are limited by the user's loan to value. The Loan to Value (LTV) ratio defines the maximum amount of currency that can be borrowed with a specific collateral. LTV evolves with market conditions and could get to the liquidation threshold, which is the percentage at which a loan is defined as undercollateralised, and may trigger liquidation.

    Let's dive into liquidation by taking a look at the number of liquidations occurring every week over the past year.

    Generally, liquidations are less than 500 per week with some weeks recording as low as 3 liquidations. However, there are some outliers where liquidations broke over the 500 threshold. These are two weeks in May recording 3,485 and 564 consecutively. Also, for a week in mid-June, the number of liquidations stood at 1,079.

    On the average, 259 liquidations happen every week at an amount of 73,302 USD. Now, take a look at the liquidated amounts on a weekly basis. We can notice a graph pattern similar to that of the liquidation frequencies above. Weekly liquidated amounts fall below the 100M USD threshold, except for May 10 to May 17, 2021, where liquidated amounts spiked to 347M USD.

    When the 'health factor' of an account's total loans is below 1, anyone can make a liquidation call by paying back part of the debt owed and receiving discounted collateral as a reward.

    The discount/bonus, which is akin to fees earned is determined by subtracting the debt amount from the liquidation amount (which is always higher due to the liquidation penalty paid.)

    The graph below shows the week-by-week bonuses earned by liquidators in USD.

    Here, we see similarities again in our graphs. May 10 to May 17, 2021, the week with the most liquidations also has the most liquidation bonuses earned by liquidators. On average, liquidators are paid about 7,452 USD per 73,302 USD of liquidation.

    Fees Generated for Ecosystem Income Collectors

    These are the current balances representing fees generated for Aave's ecosystem income collectors.

    Total Fees Generated By Aave Protocol

    As a protocol running on Ethereum, every single transaction will attract a network fee. The chart below shows the weekly total of fees generated by the protocol over the past year.

    Fee volumes are driven by network activity as expected. Weeks where large volumes of network activity (May 3 to May 17, 2021) also generated large volumes in network fees.

    Conclusion

    The above metrics provide a breakdown of the figures behind the Aave protocol.