Stablecoins on Kashi
Introduction
This dashboard analyses the behaviour of stablecoins on Kashi Markets found on Ethereum as well as on Polygon.
I will look into the number of transactions, the number of unique users that are depositing/withdrawing/borrowing/repaying, as well as the amount of USD deposited/withdrawn/borrowed/repaid.
The layout of this dashboard is as follows:
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SUSHI on Ethereum:
- Lending Deposits
- Lending Withdraws
- Borrowings
- Repays
-
SUSHI on Polygon:
- Lending Deposits
- Lending Withdraws,
- Borrowings
- Repays
Key points:
We can see that the popularity of lending Kashi Pools has quieted down quite a lot since about December 2021 - not many users are transacting in the lending pools lately. By looking at the amount of USD deposited and withdrawn from these lending pools, we can see that USDC seems to have the biggest volume for both deposits and withdraws, whereas DAI seems to have the lowest.
Borrowing and Repaing on Ethereum
Key points:
There is a very close relationship between the number of users who are borrowing and who are repaying - which means that users don’t like to keep their loans hanging for too long. In addition, we can see that DAI’s volume is a lot higher when it comes to borrowing and repaying loans compared to withdrawing or depositing in the lending pools - interesting!
SUSHI on Polygon
The next step is to repeat these metrics for Polygon and investigate how the behaviour of stablecoins on Kashi markets looks there.
Key points:
We can see that some data is missing, as Flipside is still in the process of backfilling their Polygon tables. The starting date in those charts is June the 6th, and what we can see during this short period of time is that the number of transactions for deposits and for withdraws is practically the same - which is also the case for the number of unique users. In addition, by looking at the USD volume, we can see that USDC is definitely the most popular stablecoin for SUSHI on Polygon. However, I think it is important that we take this analysis with a pinch of salt, as it seems that a lot of data is still missing, meaning that the results are not fully correct.
Borrowing and Repaing on Polygon
Conclusion
This dashboard has looked into how the picture is looking like for stablecoins found on Sushi for both Ethereum and Polygon. We have seen that for Ethereum the analysis is quite clear and some interesting insights have been discovered. Sadly, this is not the case for Polygon due to the tables still being backfilled - however, once that is over, a refresh of this dashboard will provide you with more insightful results! ☺️