Pipo
Liquidity Pools and ETH Price Drop
Jun 29, 2021 - As shown in graph 1 and 2 as ETH price drops in the last 30 days, there is a net Ethereum flow out of exchanges in both Sushiswap and Uniswap (except for some specific days in Sushiswap). Between June 21st and June 27th price below $2,000 didn’t have an extra impact on net Ethereum flow out of exchanges except for Uniswap which showed the highest net flow out in the last 30 days on the first day the ETH price went below $2,000. Graph 3, 5 and 6 shows how regardless of the different size pools included in the analysis (ie. Liquidity provided) we see how Sushiswap has a steady daily average liquidity around usd$ 1 billion landmark. On the other hand, as we start including more smaller size pools (Top 100, Top 500 and Top 10,000 respectively) we can observe how both Uniswap v2 and Uniswap v3 increase their liquidity. Uniswap v2 from ~usd$0.5B to ~usd$1.2B and Uniswap v3 in a much lesser extent from ~usd$0.45B to ~usd$0.55B. Last but not least, graph 4 reflects which pools are actually gaining more volume for biggest size pools. Overall both Sushiswap and Uniswap v3 are focused on BTC, ETH and stablecoin pools whereas Uniswap v2 is spread across an array of altcoins. We can definitely say that people, regardless of their liquidity provided, they tend to go to Uniswap for riskier assets than Sushiswap.
Stablecoin Interest Rate
Aug 31, 2021 - * Data based on last 180 days across all AAVE versions, except for "Total liquidity (in USD)" graph which is based on last 30 days due to the amount of rows exceeding 100,000 rows when taking a longer period (aka. 6 months). Assumption: Interest Rate makes reference to the borrow rate (interest rate to be paid for borrowing money)
Who should you delegate to?
Jun 26, 2021 - There are 3 main criteria I found critical when choosing who to delegate to; total value staked by validator, delegator total rewards withdrawn and validator total withdrawn commissions. As shown in graph 1 and 2 highlighted in purple and green respectively, we have the Top 10 validator addresses in terms of value staked and rewards. I would definitely consider selecting any of these Top 10 validators as the amount of value staked and rewards coming from these addresses would suggest these validators are trusted by the community. Nevertheless, as reflected in graph 3, I would keep in mind the commission these validators ask for when delegating with them as this could have a significant impact in my bottom line.
Tax Rate
Jul 20, 2021 - Staking rewards come from three sources in Terra protocol: gas (compute fees), taxes, and seigniorage rewards. Although these sources are all interconnected within the protocol, finding a straight correlation is not always possible.
Liquidations on Anchor
Jul 4, 2021 - Graph 1 and 2 show how many liquidations have occurred and how many addresses got liquidated in the last 90 days. Interesting to see in graph 3 and 4 how LUNA price and amount of liquidations are negatively correlated. Not a surprise to see the amount of borrowers that defaulted on their loans in a matter of hours when prices dropped more than 50% considering maximum LTV ratio is 50% in Anchor.
Top LDO Holders
Jun 2, 2022 - Let's have a look at the Top 10 addresses in terms of Lido token balance.
Daily new addresses on Polygon network
May 29, 2022 - We can see the massive growth in adoption from the second half of 2021. Even though we see a slight decline in new addresses per day since start of 2022, there is still an important amount of people coming on board.
Validator Slashing
Jul 11, 2021 - Taking as assumption that all numerical values in terra.transitions table need to be divided by 10^6 we get the following results as shown in matrix below. With a total of 70 slashing events (with 2 unaccounted for shown in second matrix) in the last year within Terra, only 43.373671 LUNA tokens were slashed, which seems quite low for a total of 47 unique validators.
Chai Payments
Aug 17, 2021 - Let's understand a little bit about Chai which is a South Korean mobile payments application built on the Terra blockchain. * Data reflected since October 3rd 2020 up till today.
Liquidity Pools on TerraSwap
Jul 5, 2021 - Graph 1 shows the largest liquidity pools (by 24 hour swap volume) are based on the LUNA-KRT Pair and LUNA-MNT Pair. As reflected in graph 2 and 3, fall in LUNA price mid-May had a direct impact on LUNA-MNT Pair liquidity (highlighted in purple).
Terra Fees and transaction volume correlation
Aug 10, 2021 - On Terra, transaction fees generated by token swaps work to maintain the peg of stablecoins to their related fiat currency. *Data based on the last 7 months (Jan-2021 to Jul-2021).
Top TOKE Holders
Jun 22, 2022 - * For this analysis I took the average balance of TOKE holdings throughout January and compared this average balance vs current date.
Aave liquidity concentration
Aug 25, 2021 - * For liquidity we considered net deposits (deposits minus withdrawals) to be a good representation.
How is UST being used?
Jul 3, 2021 - As shown in graph 1 and 2 in the last 60 days UST has been mainly used on protocols and decentralized exchanges (dex) instead of centralized exchanges (cex). Graph 2 shows a break down of label sub types to see where those balances come from. As we can see centralized exchanges show the lowest balance in UST. Graph 3 shows a similar picture for cexes, with very low transactions. Last but not least, it is interesting to see the discrepancy in Defi addresses. Even though the UST balances are the highest as shown in graph 2, we can see that the number of transactions is low. This could suggest whales are the ones making the moves in this space in UST. On the other hand, "other wallets" could make reference to small wallets as they show the highest number of transactions but a low amount of UST balance.
Transaction Fees (in USD) generated by Token Swaps
Jun 26, 2021 - As shown below, we can see in the first graph the amount of fees paid out each day is concentrated on the 27th of May and 3rd of June. A total of $2,756,857 was paid in fees in the last 30 days. Breaking it down into swap pairs (token 0 and 1 respectively) we can see that transaction fees generated by token swaps are concentrated in UST and KRT for token 0 and UST, MNT and KRT for token 1. Last but not least, we can recognize the importance of Luna native token in the swap behavior as swap between stablecoins is rather marginal (as shown in last graph).
USDC deposits to PoolTogether
Jun 22, 2022 - *USDC deposits to PoolTogether is made by depositing to the following addresses: '0xde9ec95d7708b8319ccca4b8bc92c0a3b70bf416', -- USDC price pool '0x32e8D4c9d1B711BC958d0Ce8D14b41F77Bb03a64', -- PoolTogether aUSDC Yield '0xd89a09084555a7d0abe7b111b1f78dfeddd638be' -- YieldSourcePrizePool
Who's that going across my bridge?
Jul 11, 2021 - We can see across the bridge for both Terra and Ethereum networks there is an overall increase in UST volume since Dec-2020. The contrary is happening to LUNA volume where decrease is very clear from May-2021 onwards for both networks. The reason behind this behavior could be the fact that LUNA is actually staying within Terra network, reflecting growth in Terra community and trust in the project as a whole. UST volume growth has a positive and healthy impact for both networks as usage in both networks increase.
Decentralization of Validator System
Jun 27, 2021 - As shown in the graph based on distribution of staked amounts on the top nodes we can see that more than 60% of staked amounts comes from 3 validator addresses (from a total of only top 130 validators with the most stake who are considered the active validators), which means that the validator system is not well decentralized.
