Tracking Solend cTokens
Q102, cTokens on Solend are a yield-bearing deposit receipt. This means you can convert USDC into cUSDC to get a tradeable token that also earns interest on Solend. You can hold this token in your wallet to continue earning interest, or you can send it to someone else, and they'll earn interest. What do users do with their cTokens? In which DeFi platforms are cTokens deposited in after minting on Solend? What are the most popular use cases for cTokens and where have they grown in usage over time? Does cToken behavior seem to be influenced by the size of the receipt?
Introduction:
Solend is an algorithmic, decentralized protocol for lending and borrowing on Solana.
Lending and borrowing has proven itself as key in a DeFi ecosystem. However, current products are slow and expensive. On Solana, Solend can scale to being 100x faster and 100x cheaper. Solend aims to be the easiest to use and most secure solution on Solana.
With Solend, you can do the following:
- Earn interest
- Borrow
- Leverage long
- Short
- [1]
[1] :
Method:
first I showed general information about Ctokens include thsese:
1-Total transaction numbers related to Ctokens(main pools) in 2022
2-Sol price and Ctokens transaction numbers by day
3-different Ctokens(main pools) activities by day
And then I showd What do users do with their cTokens include thsese:
1-What do users do with their cTokens?(hold,supply,swap,transfer)
2-What do users do with their cTokens by day
3-Where are ctoken swappers swap their tokens?
4-What do users do with their cTokens?(cumulative)
Ctoken Transaction event types:
1-Transaction event types of Ctoken users
2-Transaction event types of Ctoken users by day
then I showed defi activities of users:
1-In which DeFi platforms are cTokens deposited in after minting on Solend?
2-In which DeFi platforms are cTokens deposited in after minting on Solend by day
Ctoken behavieor by size of recipt:
1-Does cToken(Csol) behavior seem to be influenced by the size of the receipt?
2-Does cToken(Cusdc) behavior seem to be influenced by the size of the receipt?
Most of cToken users hold their ctoken and about 38 % of them supplied their cTokens and about 3 % of them swapped to another tokens.
also we can see their activity by day and the number of transactions related to Ctokens are decreasing over time.
swappers swaped their tokens in hupiter and saber platforms and jupitr is used more than saber.
and in the cumulative transaction numbers the amout of users who hold their tokens are increasing.
Most of transaction types of ctoken users belongs to mint and burn and also in recent months the initialize account transactions increased.
In 2022 Ctoken users did about 208 k transactions and we can see that there is a correlation between sol price and Ctoken users and the number of transaction decreased when the sol price decreased.
Also we can see different Ctoken activities and it is clear that when Luna collapsed and the number of transactions related to UST transfered to the cUSDC
About defi activities most ctoken users are active in Port finance and jupiter aggregator and also port finance activities are increasing over time
there is no differnce between the size of recipt and Csol behavior and most of activities belongs to suppling and holding.
Conclusion:
1-In 2022 Ctoken users did about 208 k transactions and we can see that there is a correlation between sol price and Ctoken users and the number of transaction decreased when the sol price decreased.
2-Also we can see different Ctoken activities and it is clear that when Luna collapsed and the number of transactions related to UST transfered to the cUSDC
3-Most of cToken users hold their ctoken and about 38 % of them supplied their cTokens and about 3 % of them swapped to another tokens.
4-also we can see their activity by day and the number of transactions related to Ctokens are decreasing over time.
5-swappers swaped their tokens in hupiter and saber platforms and jupitr is used more than saber.
6-and in the cumulative transaction numbers the amout of users who hold their tokens are increasing.
7-Most of transaction types of ctoken users belongs to mint and burn and also in recent months the initialize account transactions increased.
8-About defi activities most ctoken users are active in Port finance and jupiter aggregator and also port finance activities are increasing over time
9-there is no differnce between the size of recipt and Csol behavior and most of activities belongs to suppling and holding.