Introduction

Welcome to the Mars Protocol on-chain analysis dashboard! This week has been a significant one for the bold, as the long-awaited token launch of Mars Protocol and the release of their Red Bank credit outpost on Osmosis took place. In this dashboard, we will be providing insights on key performance indicators that are essential to track Mars' performance in the market. We will be analyzing the Total Unique Deposit Addresses, Total & by token (OSMO, ATOM, axlUSDC), Total Unique Borrower Addresses, and Deposit Volumes. We will also be exploring how long each asset took to reach its deposit cap and the percentage of time each asset spent at its deposit cap. Utilization Analysis is an important aspect of the dashboard as it provides insights on how utilization rates have changed over time by asset and the current total utilization rate of the protocol. The Loan Analysis section provides information on the volume borrowed and repaid over time, the number of loans that have been fully repaid since launch, and the number of users with a 0% utilization rate. Additionally, the ratio of farmers to active borrowers and the cumulative amount of fees bridged back to Mars Hub (in USD and MARS) will be analyzed. Aditionally, we will also take a closer look at Pool #907 analysis and its impact on the overall performance of Mars Protocol. With this dashboard, we aim to provide an in-depth analysis of Mars Protocol's performance, helping you make informed decisions in the DeFi space.

Terms

The Mars Protocol on-chain analysis dashboard uses several technical terms to provide insights into the performance of the protocol. Here are some of the terms used in this dashboard and their definitions:

1. Total Unique Deposit Addresses: The number of unique addresses that have deposited funds into the protocol.
2. Total & by token: The number of unique deposit addresses broken down by token, such as OSMO, ATOM, and axlUSDC.
3. Total Unique Borrower Addresses: The number of unique addresses that have borrowed funds from the protocol.
4. Deposit Volumes: The total amount of funds deposited into the protocol.
5. Utilization Analysis: An analysis of utilization rates, which is the percentage of funds borrowed compared to the amount available to be borrowed.
6. Loan Analysis: An analysis of the volume borrowed and repaid over time, the number of loans that have been fully repaid since launch, and the number of users with a 0% utilization rate.
7. Ratio of farmers to active borrowers: The ratio of individuals who provide liquidity to the protocol to those who have borrowed funds from the protocol.
8. Fees: The cumulative amount of fees bridged back to Mars Hub (in USD and MARS).
9. Pool #907 analysis: A closer look at the performance of a specific pool and its impact on the overall performance of Mars Protocol.

By understanding these terms, users can better understand the performance of Mars Protocol and make informed decisions in the DeFi space.

Mars/Osmo Pool LP Activity

Mars/Osmo Pool Swap Activity

Pool 907 Analysis

Pool #907 is an Osmo/Mars pool on the Mars Protocol that was released recently. Since its release, the pool has seen a total swap volume of $13.4 million from 4,810 users. Despite the high initial volume, the pool's swap volume has been declining quickly since its release. Analysis of the graph shows that there has been $900K more of selling Mars than buying Mars in the pool. This trend indicates that more users are selling Mars than buying it, which could be a result of several factors, including market sentiment, profit-taking, or a shift in the demand for Mars. The declining swap volume could also indicate a decrease in the overall demand for the pool and its underlying assets, Osmo and Mars. This could be due to several factors, such as market conditions, competition from other pools, or a decrease in the popularity of DeFi. In conclusion, Pool #907 has seen a significant decline in its swap volume since its release, with more selling of Mars than buying. The reasons for this decline require further investigation, but it could be a result of several factors, including market sentiment, competition, and demand. Nevertheless, it's crucial to monitor the performance of Pool #907 and its underlying assets to get a better understanding of its impact on the overall performance of the Mars Protocol.

Mars Utilization Analysis

Deposit Analysis

The graphs show that it took less than a day for both the deposits and borrows to reach their caps on the Mars Protocol. This indicates strong demand for the protocol, as users quickly took advantage of the opportunity to deposit and borrow funds. A total of 171 wallets deposited ATOM, 529 deposited OSMO, and 35 deposited axlUSDC, demonstrating a diverse range of assets being utilized on the protocol. The fact that a large number of wallets have deposited funds into the protocol suggests that there is a high level of trust in the protocol and its underlying assets. However, since reaching its deposit and borrow caps, there has only been a small volume of activity on the protocol. This is because people can only deposit funds when others withdraw, and with the caps in place, there is limited room for new deposits. In conclusion, the graphs show that the Mars Protocol was quickly embraced by users, with deposits and borrows reaching their caps in less than a day. The large number of wallets depositing funds into the protocol suggests a high level of trust, but the limited activity since reaching the caps indicates that there is a need for increased liquidity to support further growth.

Mars Loan Analysis

Mars Fees Analysis

Lending and Interest Analysis

The graphs show that out of the 603 wallets that have deposited assets into Mars, approximately 48% of the users are farming and have not borrowed from the protocol. This indicates that a significant portion of the users are providing liquidity to the protocol, which is essential for its growth and stability.

Since the deposits and borrows reached their caps at the launch of the protocol, there has been a very small amount of additional volume due to turnover. This could be due to the limited room for new deposits and the fact that users can only deposit funds when others withdraw. The fees being sent to Mars Hub have been increasing, with a total of 148 USDC and about $120 of Mars being sent back to Mars Hub from fees. This indicates that the protocol is generating revenue and that the fees are being bridged back to the Mars Hub, which is an important aspect of its overall performance. In conclusion, the graphs show that a significant portion of the users are farming and not borrowing from the protocol. The limited additional volume since the launch of the protocol and the increasing fees being sent to Mars Hub indicates that the protocol is stable and generating revenue. The high percentage of farming users suggests that there is a strong community of liquidity providers supporting the protocol, which is essential for its growth and stability.

Conclusion

In conclusion, the Mars Protocol on-chain analysis dashboard provides an in-depth look at the performance of the protocol and its underlying assets. The dashboard provides insights on key performance indicators such as Total Unique Deposit Addresses, Total & by token, Total Unique Borrower Addresses, and Deposit Volumes. Additionally, the dashboard provides analysis on the utilization rates, loan volume, and the ratio of farmers to active borrowers. The fees being sent to Mars Hub are also analyzed, indicating that the protocol is generating revenue. Pool #907 is an Osmo/Mars pool on the Mars Protocol that was recently released and its performance is analyzed, showing that it has seen a significant decline in its swap volume since its release. However, the reason for this decline requires further investigation. The graphs show that the Mars Protocol was quickly embraced by users, with deposits and borrows reaching their caps in less than a day. This indicates strong demand for the protocol, but with limited room for new deposits, there is a need for increased liquidity to support further growth. A significant portion of the users are farming and not borrowing from the protocol, which is essential for its growth and stability. The limited additional volume since the launch of the protocol and the increasing fees being sent to Mars Hub indicate that the protocol is stable and generating revenue. In conclusion, the Mars Protocol on-chain analysis dashboard provides valuable insights into the performance of the protocol and its impact on the DeFi space. By understanding these insights, users can make informed decisions in the DeFi space and stay informed about the performance of Mars Protocol.