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Earlier this week I released a report on @compoundfinance
The #DeFi lending protocol has seen substantial growth, reaching $1.5B in total supply + $300M in borrowing activity since inception
Full report live on @DefiRate
1/ https://defirate.com/compound-research/
The #DeFi lending protocol has seen substantial growth, reaching $1.5B in total supply + $300M in borrowing activity since inception
Full report live on @DefiRate 1/ https://defirate.com/compound-research/
2/ Despite offering <0.1% interest rates, ETH leads in cumulative deposits with $604M supplied to the lending protocol
Next up is @MakerDAO's Dai/Sai which totaled $532M
USDC - $287M
The remaining assets combined for <5% of total deposits
Next up is @MakerDAO's Dai/Sai which totaled $532M
USDC - $287M
The remaining assets combined for <5% of total deposits
The large majority of total borrowing activity comes from stablecoins
Of the $306M in cumulative borrows, $188M of it derives from $DAI or $SAI
The other significant borrowing activity naturally comes from the other stablecoin - $USDC - with nearly $85M in lending activity
Of the $306M in cumulative borrows, $188M of it derives from $DAI or $SAI
The other significant borrowing activity naturally comes from the other stablecoin - $USDC - with nearly $85M in lending activity
Since Black Thursday earlier this month, where lending rates experienced significant volatility (peaking at 20% APY), yields have taken a hard hit
As it stands today:
DAI: 0.36%
USDC: 0.41%
For reference - Dai rates started off the month hovering around ~8%
As it stands today:
DAI: 0.36%
USDC: 0.41%
For reference - Dai rates started off the month hovering around ~8%
This trend is further emphasized when looking at daily interest accrued by asset
Despite the downturn in yields, DAI still accounts for 68% of the interest accrued this month
Comparatively, USDC accounts for 28%
The rest of the assets combine for <4% of interest accrued
Despite the downturn in yields, DAI still accounts for 68% of the interest accrued this month
Comparatively, USDC accounts for 28%
The rest of the assets combine for <4% of interest accrued
This #DeFi report expands on my contribution to "Our Network" a few weeks ago
Make sure to subscribe to that newsletter for weekly insights on major networks and protocols from leading analysts in the space
https://ournetwork.substack.com/
cc @spencernoon
fin
Make sure to subscribe to that newsletter for weekly insights on major networks and protocols from leading analysts in the space
https://ournetwork.substack.com/
cc @spencernoon
fin
