Bounty Question: Analyze deposits and withdrawals into BendDAO over the past month. Provide metrics such as total ETH volume and unique wallets, and explain any interesting findings.

Introducing BendDAO

BendDAO is the first NFT liquidity protocol supporting instant NFT-backed loans, Collateral Listing, and NFT Down Payment. The seamless experience of down payment, borrowing, and listing creates a perfect closed loop for users, a one-stop NFT liquidity solution.

Instant NFT-backed Loan

BendDAO is the first decentralized peer-to-pool based NFT liquidity protocol. NFT holders are able to borrow ETH through the lending pool using NFTs as collateral instantly, while depositors provide ETH liquidity to earn interest. The leveraged NFT trading is built on instant NFT-backed loans.

Collateral Listing

NFT holders/sellers can choose to instantly get up to 40% of the floor value of the listing before it even sells. The instant liquidity is actually provided by the instant NFT-backed loan. The buyer will pay off the loan including interests after the deal. Existing borrowers can list the collateral directly on the BendDAO. The balance after deducting debt with interests will be transferred to the borrower (seller) after the deal.

How to get results?

The following basic SQL code was used for deposits:

select 
  count(*) as "Number of Deposits", 
  sum(EVENT_INPUTS:value/1e18) as "Total Amount of ETH Deposited",
  count(distinct ORIGIN_FROM_ADDRESS) as "Number of Unique Depositors"

from ethereum.core.fact_event_logs
  where ORIGIN_TO_ADDRESS = '0x3b968d2d299b895a5fcf3bba7a64ad0f566e6f88'
	and  CONTRACT_ADDRESS = '0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2'
	and  EVENT_NAME = 'Deposit'
	and  ORIGIN_FUNCTION_SIGNATURE = '0x58c22be7'
    and TX_STATUS = 'SUCCESS'

The following basic SQL code was used for withdrawals:

select 
  count(*) as "Number of Withdrawals", 
  sum(EVENT_INPUTS:wad/1e18) as "Total Amount of ETH Withdrawn",
  count(distinct ORIGIN_FROM_ADDRESS) as "Number of Unique Withdrawers"

from ethereum.core.fact_event_logs
  where ORIGIN_TO_ADDRESS = '0x3b968d2d299b895a5fcf3bba7a64ad0f566e6f88'
	and  CONTRACT_ADDRESS = '0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2'
	and  EVENT_NAME = 'Withdrawal'
	and  ORIGIN_FUNCTION_SIGNATURE = '0x36118b52'
    and TX_STATUS = 'SUCCESS'

In these codes, an attempt was made to obtain the total number of deposits and withdrawals, the total amount of deposited and withdrawn ETHs, and the number of unique depositor and withdrawer users.

Conclusion

• In the 161 days that have passed since the start of BendDAO, about 310k ETH has been deposited to this platform. That is, on average, about 1925 ETH per day.

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• In 157 days out of 161 days since the start of BendDAO, about 285k ETH has been withdrawn from this platform. That is, on average, about 1815 ETH per day. This means that there has been an average of 153 ETH in reserve per day.

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• On average, each of the 760 depositors deposited about 408 ETH to BendDAO.

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• 80% of depositors have withdrawn part or all of their deposited ETH. These 610 withdrawers have withdrawn an average of 467 ETH each. This suggests that the wealthier had more significant withdrawals.

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• On average, about 192 ETH have been deposited in each deposit. This amount is 223 ETH per withdrawal.

• The daily parts show that the daily deposits and withdrawals are very similar in terms of trend charts, but in all three parameters, the deposit charts are higher than the withdrawals, which was completely unexpected according to the numbers in the overview.

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• The amount of deposits and withdrawals to and from BendDAO has increased in two periods:

  1. Late April and May
  2. Late August and early September to the present day

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• Between May and the first 20 days of August, the situation was clearly fragile. This amount of stagnation has been so much that even the cumulative charts are moving towards the zero slope at this point, and this is a good indication of the record amount in this period of two months.

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• The amount of daily deposits and withdrawals is not closely related to the charts of the number of deposits/withdrawals and the number of depositors/withdrawers. About 6% of all ETH deposited was deposited on June 6th. When before that, recession has started.

In the following, we can see the parameters of the number of deposits/withdrawals, the amount deposited/withdrawn, and the number of depositors/withdrawers on the left and right, and their comparison is also placed in donut charts to make the differences more concrete. Between these two actions can be seen.

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• In the tables and charts below, the status of the above parameters in each of the deposit and withdrawal operations is calculated on a daily basis.

• In addition, the cumulative chart of each of these parameters has also been obtained to show the growth trend of each of these parameters for each of these actions.

• At the end, the cumulative graphs of both actions were compared in all three parameters.