Try Quests to earn SOLWhat's All The Hubbub for Hubble Protocol?
Method⚡
In this dashboard we analyzed ==Hubble protocol== and different metrics from it and also investigate Hubble’s stable coin that named ==USDH==, then at the end looked through ==Kamino Finance== and few metrics from it.
For doing all the analyze that i talked about, i used ==Solana.core== database provided by Flipsidecrypto
and mainly used ==“solana.core.fact_transactions”== and ==“solana.core.fact_events”== tables to gather the data that i needed for my analysis.
All the analytics and charts that you are going to see are over time and didnt used any specific time range for them
Introduction🚩
What is Hubble Protocol?
Hubble Protocol is a financial platform building sustainable Decentralized Finance services on Solana. Hubble's core service centers around a low-interest, stablecoin borrowing mechanism. Hubble's US Dollar-pegged stablecoin, USDH, can be borrowed against a variety of assets, including ETH, BTC, and SOL.
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What is USDH?
Hubble is a DeFi protocol built on Solana. Its stablecoin, USDH, is able to be borrowed against a user's assets, providing more liquidity in their long-term holdings. HBB is Hubble's governance token which can be staked and will become the protocol's governance token when it transitions to be a DAO.
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What is Kamino Finance?
Kamino Finance is an automated liquidity solution that reshapes the entire decentralized exchange (DEX) landscape of the Solana ecosystem with an improved, actively managed, brand-new liquidity layer.
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- ==Hubble== transactions peaked on ==Feb 1st== with a total of ==6407== Transactions and started to fall after that
- Since ==Feb 1st,== ==Hubble== number of transactions dropped almost ==98.5%==
- ==Hubble== transactions had some fluctuations in ==May== and ==June== but dropped after that and never recovered
- ==Hubble== recorded a total of ==141.9K== number of transactions over time
- Same as number of transactions, number of active users also recorded an ==all-time high== on ==Feb 1st== and fell after that
- After mid ==May==, number of Active users started to increase and peaked on ==April 19th== but dropped badly after that and never recovered
- ==Hubble== started the year very well but it is not ending very well
- These past few months ==Hubble Protocol== didnt get that much new users
- A total of ==4570== users interacted with ==Hubble protocol== over time
- Most of daily ==Hubble== transactions were ==Transfer==
- In past 2 months users started to ==mint== again at ==Hubble protocol== and number of mints increased after the beginning of ==September==
- Users ==minting== more than ==burning== almost on everyday but on ==May 11th== this case reversed and users burned more
- Daily ==USDH== Swaps recorded an ==all-time high== on ==June 21th== and most of it were ==swap-from-USDH==
- After ==mid April==, number of swappers started to increase and peaked on ==April 20th== and most of the swappers were ==swapping to USDH==
- ==USDH== Daily Swap volume had so many fluctuations over time and after ==late July== it fell so bad and never recovered
- According to the bar charts above, users mostly ==swapping== ==USDH== in ==June== and ==transferring== it in the second place
- ==June== had so many number of swaps and ==June 21th== had the highest number of swaps with a total of ==18.88K== swap
- Most of the transactions that interacted with ==USDH== were recorded on ==Kamino Program== and ==Jupiter Aggregator v3== over time
- There were almost ==100K== more transactions recorded on ==Kamino Program== than ==Jupiter Aggregator v3==
- Most of the ==USDH== interacted in ==Jupiter==
- A total of ==2982== swappers recorded ==135,305== swaps with ==USDH== on ==Jupiter== over time
- ==Raydium v4== is in the ==second== place for swaps and swappers but in swap volume its in the ==third== place and ==saber== has the most ==USDH== Swap volume after ==Jupiter==
- Users interacted with ==Jupiter== the most and ==Orca== the least
- ==USDH== ==Mint ratio== is so much more than ==burn ratio== and it means that users mostly minting ==USDH== than burning it
- ==USDH== ==Transfer ratio== is ==61.8%==, means that ==61.8%== of ==USDH== has ==transferred== over time
- Users minted ==USDH== the most on ==May 23th== with ==7.18M== volume
- ==Kamino== number of transactions ==increased== dramatically in ==September==
- Transactions recorded an ==all-time high== with ==28.21K== transactions on ==Sep 22th==
- ==Oct 1st== was a very bad day for ==Kamino== platform and number of transactions dropped almost ==90%== than its previous day
- Cumulative number of Kamino Mint/Burn slowly increasing over time
- ==kUSDH-USDC== and ==kSOL-stSOL== were the most minted tokens in ==kamino platform== over time
Conclusion💡
- A total of ==4570== users on ==Hubble== recorded ==141.9K== transactions over time
- Number of Daily transactions and users started to decrease after ==early February==
- Users mostly doing ==transfers== on ==Hubble protocol== and ==minting== in the second place
- Most of ==USDH swappers== are swapping ==to== ==USDH== than swapping ==from== ==USDH==
- ==April, May and June== were good months for ==USDH== ==Swap== stats
- In every month users mostly ==transferring== ==USDH== except ==May== and ==June==
- Users are transacting ==USDH== in ==Kamino program== and ==Jupiter aggregator v3== more than other programs
- Most of the ==USDH== Swaps was on ==Jupiter==
- ==USDH== ==Mint== ratio is more than ==burn== ratio
- ==kUSDH-USDC== and ==kSOL-stSOL== were 2 popular tokens to ==mint== in ==Kamino== over time
