Introduction

AAVE is a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or undercollateralised (one-block liquidity) fashion.

In This Dashboard..

we’re going to utilize FlipSide Crypto’s tables to analyze the following:

1. Daily AAVE supplied and withdrawn on AAVE protocol

2. Daily AAVE staked and unstaked.

   
   \

Part I. Daily AAVE Supplied and Withdrawn on AAVE Protocol.

Observations

looking at charts #1 to #4 we can see that Feb 24, may 11 and Jun 13th were days that AAVE protocol had the most AAVE tokens supplied into the protocol, in other hand Mars 30, April 14 and and very recently in august 4th have seen the most AAVE tokens withdrawn from the protocol since the start of 2022.

as we can see even through the recent decline in market conditions users supplied more AAVE into the protocol than they withdrawn, this indicates that most users tend to hold onto their AAVE and use it as collateral instead of selling it, which can indicate an strong fundamental.

Part II. Daily AAVE Staked and Unstaked on AAVE Protocol.

looking at charts #5 to #8 we can see that in Feb 1st about marks the the highest amount of AAVE value in USD unstaked from the protocol with 44MM USD in value.

similar event also happened in May 11 with 40MM USD of AAVE unstaked from the protocol. in contrary Jan 4 and Mar 28 had the highest value in AAVE staked to the protocol.

stakers gain Proposition and Governance power by staking their tokens in the protocol. (see sources section).

we can see that there is a direct co-relation between AAVE unstaked and AAVE deposited into the Protocol and in the days with the most unstaked AAVE tokens we see the highest deposits of AAVE into the protocol.

Verdicts

• even in the bear market more users deposited AAVE into the protocol than they withdraw.
• Unstaking has a direct co-relation with Supplying in the market, days with the most AAVE tokens unstaked usually have the most AAVE tokens deposited into AAVE market.
• Feb 24, May 11and Jun 13 had the highest amount of AAVE tokens supplied into the protocol. also in these days or a couple before them we saw the highest amount of AAVE unstaked from the protocol, which proves our 2nd verdict.
• also we can see that most AAVE users prefer to supply their AAVE tokens and share the protocol interests rather than staking them.

Methodology & Related Sources

• for this analysis i used flipside crypto’s flipside_prod_db.aave tables for deposits and withdrawals. for querying AAVE’s price i used ethereum.core.fact_hourly_token_prices table and to track staking and unstaking transactions and values i used ethereum.core.fact_event_logs table.
• AAVE Documentation
• AAVE Governance
• Flipside Crypto

This Dashboard is made for Metrics DAO.

My Telegram