wETH Deposit Rate
Q11. Calculate the deposit rate of wETH over time on Osmosis. How does this compare to SushiSwap and Thorchain now? How does the wETH deposit rate compare to when wETH was a relatively new asset (or the protocol was relatively new)? Is Osmosis growing at a faster rate than Thorchain and Sushiswap?
wETH Deposited in the Osmosis
The below area chart displays the amount of wETH deposited in the Osmosis Since the launch of the wETH Pool. wETH could bridge through Cosmos blockchain via Axelar or Gravity bridge. Gravity started to bridge wETH earlier than Axelar, but the popularity and the volume transferred via Axelar were considerably greater than Gravity. The rate of wETH deposit was too low at the beginning of Feb 2022, but after May, the rate increased, and the deposit amount reached 720 wETH.
Conclusion
- axelar was the main bridge for sending wETH through Cosmos blockchain.
- From the beginning of the Thorchain and sushiswap wETH pool launch, the deposited rate was high and reached the highest amount, but for Osmosis nearly three months, not a considerable amount was deposited on its pool.
- The wETH deposited amount in the Sushiswap was considerably higher than Thorchain and Osmosis. Still, the wETH deposit trend for sushiswap was generally descending, but for Thorchain and Osmosis was ascending.
wETH Deposited in the Thorchain
The below area chart shows just ETH volume deposited (Not ETH+RUNE volume) on Thorchain ETH.ETH pool over time. If we disregard the constant interval between Jul 17th to Oct 18th, 2021, the deposit rate from Apr 12th, 2021 to Mar 31th 2022 was ascending, and the deposited amount started from 357 ETH and reached 14.4K wETH. After Apr 2022, the deposit trend descended, and there was no signal for changing its current direction.
wETH deposited in the Sushiswap
The below area chart shows the wETH deposited on Sushiswap over time. Sushiswap had more wETH deposit history than Thorchain and Osmosis. From Sep 2020 to Mar 20th, 2021, The deposit wETH trend ascended and started from 791K and reached 1.35M. From Mar 2021 to now, the major deposit trend was descending, and the deposited amount dropped 85% from the top.