What is Kashi?

Kashi is a lending and margin trading platform, built on the BentoBox, that allows for anyone to create customized and gas-efficient markets for lending, borrowing, and collateralizing a variety of DeFi tokens, stable coins, and synthetic assets. Kashi's broad diversity of tokens is supported through the use of a unique isolated market framework. Unlike traditional DeFi money markets where high-risk assets can introduce risk to the entire protocol, in Kashi, each market is entirely separate (similar to the Sushiswap DEX), meaning the risk of assets within one lending market has no effect over the risk of another lending market.

Approach and Methodology

Results Ethereum by asset and by collateral

On this part we will talked about kashi sushiswap on ethereum chain. what is the highest available stablecoin asset on kashi over time and what are the stablecoins with more loans by asset and by collateral.

On this dashboard, we will try to take a look at the behavioron Kashi markets. Which ones are being deposited for lending? Which ones as collateral? We will try track on Kashi both on Ethereum & Polygon chain.

I will need to get all the kashi contract with their asset and collateral address and filter it with stablecoin only and after that we can use event_name="LogAddAsset" and "LogRemoveAsset" where total asset is on event_inputs:share. it is hard to track it with token_transfer because sometimes when we withdraw the asset we can choose to withdraw it on our own wallet or bentobox. If we withdraw on bentobox there are no transfer token.

• From above chart we can see that $DAI is the most TVL on kashi lend and then there are USDC & USDT, the lowest one is $UST
• If we count the number of loans and grouping them by the asset on the pair we get that more than 40% is controlled by USDC (1st) followed by DAI and UST.
• If we count the number of loans and grouping them by the collateral on the pair we get that more than 75% is controlled by USDC. So, USDC is predominating as a collateral on all kashi markets.

Results Polygon by asset and by collateral

• From above chart we can see that $USDC is the most TVL on kashi lend on Polygon and then there are DAI& USDT.
• If we count the number of loans and grouping them by the asset on the pair we get that around 40% is controlled by USDC.
• If we count the number of loans and grouping them by the collateral on the pair we get that around 40% is controlled by USDC.

Conclusions

It has to be said that the database from kashi markets in Ethereum is much larger than in Polygon. Because of tha,t the conclusions that we can get from Polygon charts are not definitve. However, from the charts obtained from Kashi markets data on Ethereum we can say that the stablecoin USDC is the most common one used both in lendings and as a collateral.

For polygon we used all the data available, so there was no restriction on any starting date for the analysis.