Fees on Kashi Markets
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==Introduction==
What is a bento box?
- Well, in Japan, it is a small container filled with the usual dishes that make up a Japanese lunch. Sushi’s bento box is formulated on that same concept, it's a token vault that can support a whole collection of Dapps and Smart Contracts.
- The only collection of smart contracts that Bentobox currently has is called Kashi, which means lending in japanese. Kashi is simply a lending and borrowing platform that utilizes smart contracts to allow certain margin trading.
- How Kashi actually works is worth an entire video, so let me briefly cover it here. Essentially, you pick one token you want to go up, and one token you want to go down, then you can invest your money in that pair. If they both do as you predicted, you will make money, but if they go the other way, you lose money. If one of these tokens is a stablecoin, then you are essentially just lending or borrowing and using the stablecoin as collateral. Without going into too much detail, when you lose money, someone who bet the opposite way gains money, and vice versa.
What is sushi?
- SushiSwap and its associated Sushi coin are two of the big talking points in the world of crypto. In less than a year, SushiSwap has become one of the biggest decentralised exchanges in the world – and has also generated a fair amount of controversy.
- Before we get into the ins and outs of what Sushi coin is and does, let’s take a look at decentralised finance, or DeFi for short.
- The idea behind decentralised finance is to create a modern, fairer alternative to financial services that can be accessed by anyone via the internet. The World Bank says there are 1.7 billion people who do not have a bank account. As roughly two-thirds of them own a mobile phone, advocates of decentralised finance hope that by reaching these people, DeFi will promote financial inclusion.
- Sushi coin is linked to SushiSwap, which is a decentralised exchange, or DEX for short. This is like a regular currency exchange, except that it allows people to exchange crypto via a smart contract (a computer program that automatically executes sales and other agreements when the right conditions are met), using the Ethereum blockchain.
The SushiSwap exchange
- SushiSwap was set up in 2020 by an anonymous individual, or possibly a group of individuals, who went by the name of Chef Nomi. In order to fund the exchange, users tie up their assets into smart contracts to create liquidity pools. Traders then swap their tokens and coins in and out of the liquidity pool, meaning they can buy and sell on the DEX.
- If a pool does not exist, users can create one and set their rates of exchange, although this can be corrected further down the line. If you trade against an asset that is locked in then you have to pay a fee, which is distributed across all contributors to the liquidity pool, based on how much the individual contributor has put in.
- There are other rewards for people who help create the liquidity pools. They get protocol fees, as well as a share of the 100 Sushi coins that are minted every day. Users can, at least in theory, take out the money they have put in at any time, as well as claim the ‘harvest’, or Sushi, that they have earned.
- Contributors who want to earn more Sushi than their share of the harvest pays them can download the SushiBar app, which allows them to stake the Sushi they hold to obtain the xSushi token, which is made up of Sushi bought on the open market combined with a proportion of the fees generated by the SushiSwap exchange.
- You can read here for more information
==Method==
- To solve this question and get this information, I first calculated the Ethereum pools, for this I obtained the transactions related to Kashi Markets from the flipside_prod_db.crosschain.ez_lending table and joined the ID transactions with the ethereum.core.fact_transactions table and obtained them.
- I did the same for borrowing, but this time I got the borrowing information from the flipside_prod_db.crosschain.ez_borrowing table.
- then calculated the Polygon pools, for this I obtained the transactions related to Kashi Markets from the polygon.sushi.ez_lending table and joined the ID transactions with the polygon.core.fact_transactions table and obtained them.
- I did the same for borrowing, but this time I got the borrowing information from the polygon.sushi.ez_borrowing table.
==Meanwhile, I set a time condition for polygon and set the polygon information for two weeks ago or from the beginning of July.==
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- The graphs opposite show the total fees of lending Ethereum each Kashi market
- Observations show that kmxSUSHI/DAI-LINK had the highest total fees and if we consider today's Ethereum price, it is close to 12.5 thousand dollars.
- It seems that most lendings are done with stablecoins, that's why their total fee is higher than the rest.
- The graphs opposite show the total fees of borrowing Ethereum each Kashi market
- Observations show that kmxSUSHI/DAI-LINK had the highest total fees and if we consider today's Ethereum price, it is close to 12.5 thousand dollars
- The graphs opposite show the total fees of lending Polygon each Kashi market since 1 july 2022
- Observations show that **kmWETH/USDC-LINK \n **had the highest total fees and if we consider today's Polygon price, it is close to 7.5 dollars.
- It seems that kmWETH/USDC-LINK is more popular among other pairs and in July 2022 it has the highest total fees compared to the rest, nearly 92.7%.
- The lowest total fees are related to kmUSDC/JPYC-LINK, which does not even reach 1 cent
- The graphs opposite show the total fees of borrowing Polygon each Kashi market since 1 july 2022
- kmWMATIC/USDC-LINK and kmWETH/USDC-LINK They have had the highest total fees since the beginning of July
- The lowest total fees are related to kmSUSHI/WMATIC-LIN
Conclusion
Many results can be obtained. I will mention the highest and lowest total fees
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Ethereum
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==lending==
- The highest total fees related to kmxSUSHI/DAI-LINK is approximately 11.8 ETH
- The lowest total fees related to kmSRM/UNI-LINK is approximately 0.0035 ETH
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Ethereum
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borrowing
- The highest total fees related to kmxSUSHI/DAI-LINK is approximately 14.10 ETH
- The lowest total fees related to kmUSDC/BAT-LINK is approximately 0.0034 ETH
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Polygon
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==lending==
- The highest total fees related to kmWETH/USDC-LINK is approximately 15 Matic
- The lowest total fees related to kmUSDC/JPYC-LINK is approximately 0.004 Matic
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Polygon
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borrowing
- The highest total fees related to kmWMATIC/USDC-LINK is approximately 0.67 Matic
- The lowest total fees related to kmSUSHI/WMATIC-LINK is approximately 0.005 Matic
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