What is WePiggy?

WePiggy is an open source, non-custodial crypto asset lending market protocol.

In Wepiggy’s market, users can deposit their crypto assets to earn interest, or borrow others by paying interests.

Compared with pioneers such as Compound and Aave, WePiggy wishes to create more markets for user’s choices; optimize the execution efficiency of smart contracts, low-down the gas cost; equip users with more financial tools, not only flash loan, but also margin, options, etc. Of course, all the improvements are premised on the basis of users’ fund safety.

Also, WePiggy will try the best to bring better user experience to users. Especially in East Asia market, more improvements would be made to lower the learning barrier for users. With the gradual improvement of the protocol, WePiggy may build up a series of dApps for users here.

In WePiggy’s governance, the core team would like to take a more positive and responsible role. We believe in the importance of goals and fundamental principles, and we fully understand that high quality governance won’t happen in a soulless project.

Therefore, at the early stage of WePiggy’s governance, the core team will actively participate in the governance to work with the community to form an atmosphere of scientific governance. We will discuss the basic governance framework of WePiggy Protocol with all members of the community in our first proposal after the governance forum goes live

in this dashboard we use optimism.core.fact_token_transfers, optimism.core.fact_event_logs tables available on flipside optimism database for explorer WePiggy World.

Technical Details

On Optimism there are 4 main contract addresses for tracking the WePiggy Optimism LockDrop that we used them :

• pUSDC contract address: 0x811Cd5CB4cC43F44600Cfa5eE3F37a402C82aec2
• 30-Day Pool: 0x3Ce5AF2d1455c581d95B979AB7E64b1A7D1b5537
• 90-Day Pool: 0x5F1E8dC1C296A26188e1E04ED4bb6d1432226650
• 180-Day Pool: 0xC9E53Bb96A8923051326b189bbF93EE9ED87888b

Staking Behaviors

in this dashboard the charts explore various aspects of this LockDrop. Watch them carefully so that we can draw conclusions.

Description:

Users can lock their pUSDC (WePiggy USDC Token) in one or several WePiggy LockDrop Pools to get $OP and $WPC rewards.

There are total 3 pools in different lock-up duration: 30-Day, 90-Day, 180-Day.

Different pools with different reward distribution speeds, so the longer you deposit into the pools the more rewards you’ll get.

> Users can deposit their pUSDC tokens into one or more of these pools to earn token incentives.

However, once the user deposits funds into a pool, the user cannot withdraw the principal before the lock-up period expires.

Notice:

1 ) pUSDC is the deposit receipt that users automatically get when they deposit USDC in the WePiggy lending protocol.

2. The WPC token incentive will only be given to the 180-Day pool
3. Every 3 Pools started at 16:00 (UTC+8) on August 3.
4. WePiggy Coin (WPC) is the governance token of WePiggy protocol, which gives the community the power to govern the protocol.

Introduction

Methodology

Analysis

Key Findings

• First, most of the investment in LockDrop was made in the 180 Days Pool and then in the three-month pool, which means that users' desire for long-term investment is much higher than short-term investment.
• Considering the fact that in order to receive WPC incentive tokens, the tokens must be deployed in the six-month pool for 180 days, most of the deployments were made on the first day of the opening of these pools. (August 3)
• The number of users welcoming this plan is about 140 people, which is not a large number, and perhaps it was not adequately promoted.
• About one-third of investments in six- and three-month pools were made through a wallet

Observation

User Profiling

In the final step, we examine the staking users and analyze two issues:

• Is the age of a wallet (user) directly related to the amount of pUSDC staked or not? That is, are old users eager to participate in this LockDrop or new users?
• What is the age distribution of these users?

Notes :

• We calculate the age of a user based on the difference between the current date and the first transaction of the user.
• Considering that the Optimism tables in the FlipSideCrypto database are less than three months old, the analysis of the age of the users is not accurate and cannot be considered as an accurate analysis. It is only done to show what can be done with the available data.

Observation

• For about one-third of users, the wallet age is less than one month, meaning they are new users who have joined the Optimism blockchain.
• There is no direct correlation between the age of a wallet and the amount of tokens deployed, but relatively speaking, users who have staked a large amount of tokens are younger.

Observation

In the "Daily Stake Amount - WePiggy LockDrop Pools" chart, we can see the amount of daily stake in the WePiggy LockDrop Pools in August 2022. As we said before, we see three WePiggy pools of 30 days, 90 days and 180 days.

In the chart, we can see that the most used pool is the 180-day pool. On August 3, 2022, the largest number of stakers were active on the WePiggy platform.

On August 3, more than 69.1 million pUSDC tokens have been staked in the 180-day pool. More than 4.5 million pUSDC tokens have been staked in the 30-day pool and more than 16 million pUSDC tokens have been staked in the 60-day pool. As we can see, stakers prefer the 180-day pool.

In the "Cumulative pUSDC Staked Amount over Time per LockDrop Pool" diagram, it shows us the total volume of all three pools during the month of August 2022. On September 1, 2022, the total volume of the 180-day pool is equal to 143.722 million pUSDC tokens. The 90-day pool is equal to 47.594 million pUSDC tokens. Until August 14, 2022, the total volume of the 30-day pool is equal to 9.07 million pUSDC tokens.

In the "Daily WePiggy Reward Amount" chart, we can see the amount of daily rewards to stakers. The 180-day pool is the most rewarding. An average of 129,334 WPC tokens are distributed to stakers daily. 72.8% of the daily reward is related to the 180-day pool. in the 90-day pool distributes 44,091 WPC tokens to stakers. And in the 30-day pool, an average of 4317 WPC tokens are distributed among stakers.

Observation

In "Total Staked Amount per LockDrop Pool" chart, we see the total volume of staked pUSDC tokens in all three pools. The 180-day pool has the largest share among the other two pools. More than 140 million pUSDC tokens have been staked in the 180-day pool. More than 47 million pUSDC tokens have been staked in the 90-day pool. More than 9 million pUSDC tokens have been staked in the 30-day pool.

In the "Total Unique Stakers per LockDrop Pool" chart, we see the number of stakers in all three pools.

The largest number of stakers is related to the 180-day pool. 237 stakers are in the 180-day pool. 116 stakers are in the 30-day pool and 127 stakers are in the 90-day pool.

The total number of stakers are 431.

In the "Top Stakers for each LockDrop Pool" chart, we see the wallets that have made the largest amount of stakes. The largest staked is related to [0xd88...330b] wallet.[0xd88...330b] wallet has staked 32.37 million pUSDC tokens in the 180-day pool. In the 90-day pool, the largest amount of pUSDC tokens staked is related to [0xacd...b991] wallet.(9.88 million pUSDC) In the 30-day pool, the largest amount of pUSDC tokens staked is related to [0x9e6...f451] wallet. (2.46 million pUSDC)

Conclusion

WePiggy platform is one of the successful Lending platforms in Optimism Network. Some of the most important findings of this platform in this dashboard are:

• Total pUSDC Staked Amount: 200.4M
• On August 3, 2022, the largest number of stakers were active on the WePiggy platform.
• On August 3, more than 69.1 million pUSDC tokens have been staked in the 180-day pool.
• More than 4.5 million pUSDC tokens have been staked in the 30-day pool and more than 16 million pUSDC tokens have been staked in the 60-day pool. stakers prefer the 180-day pool.
• On September 1, 2022, the total volume of the 180-day pool is equal to 143.722 million pUSDC tokens.
• The 90-day pool is equal to 47.594 million pUSDC tokens.
• total volume of the 30-day pool is equal to 9.07 million pUSDC tokens.
• The 180-day pool is the most rewarding. An average of 129,334 WPC tokens are distributed to stakers daily.
• 72.8% of the daily reward is related to the 180-day pool.
• in the 90-day pool distributes 44,091 WPC tokens to stakers.
• in the 30-day pool, an average of 4317 WPC tokens are distributed among stakers.
• The 180-day pool has the largest share among the other two pools.
• More than 140 million pUSDC tokens have been staked in the 180-day pool.
• More than 47 million pUSDC tokens have been staked in the 90-day pool.
• More than 9 million pUSDC tokens have been staked in the 30-day pool.
• The largest number of stakers is related to the 180-day pool.
• 237 stakers are in the 180-day pool. 116 stakers are in the 30-day pool and 127 stakers are in the 90-day pool.
• The total number of stakers are 431.
• The largest staked is related to [0xd88...330b] wallet.
• [0xd88...330b] wallet has staked 32.37 million pUSDC tokens in the 180-day pool.
• In the 90-day pool, the largest amount of pUSDC tokens staked is related to [0xacd...b991] wallet.(9.88 million pUSDC)
• In the 30-day pool, the largest amount of pUSDC tokens staked is related to [0x9e6...f451] wallet. (2.46 million pUSDC)