Try Quests to earn cryptoTotal value locked in sqeeth
Calculate Total value locked and value of oSQTH
Introduction
Overview on squeeth
squeeth is ETH^2 index for users to long or short, the squeeth contract works like a perpetual swap where we can open a long or short position but unlike others in here there are no leverages. And it is impossible to be liquidated.
Trading oSQTH
For long, you can buy and for closing the position you simply can sell the erc20 token to the pool and for shorting you must mint oSQTH tokens and sell them to the pool and for closing the position you simply buy oSQTH tokens and burn them.
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Method
TVL calculating
I simply used flipside_prod_db.ethereum.erc20_balances table with pool address (0x82c427adfdf2d245ec51d8046b41c4ee87f0d29c) AS user_address and then sum all usd amount of token that locked there
oSQTH value
oSQTH Performance is affected by a few things:
- Implied Volatility (IV) (did you buy when iv was relatively higher?)
- Value and movement of ETH
- oSQTH Price (was oSQTH priced higher when you purchased?)
- Normalization Factor (i.e. funding paid by longs, debt reduced by shorts)
but we have formula that we can calculate the value :
oSQTH value(ETH) = (ETH Price * (MARK/INDEX) * Normalization factor) / 10000
INDEX : (ETH price)^2
MARK price and Normalization factor : we can find MARK price and Normalization factor on the sqeeth app on opyn website
you can give value to the parameters at the section I provide on above of the dashboard to calculate the value of oSQTH base on them
if you let the ETh_price parameter blank, this will place the price of ETH on the given date by default
We see drop in TVL in the last 30 days
In the above graphs, we can see the sqeeth stats over a period of time we can see drop in volume and count of users or TX due to ETH price action in the market