Introduction

Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble's core product is USDH, a decentralized stablecoin that can be borrowed against your crypto assets. Users can deposit multiple crypto assets like SOL, BTC, ETH, and others, to borrow USDH. In turn, USDH can be used to serve various purposes across Solana DeFi. Hubble will offer multiple USDH borrowing vaults, with various asset combinations and vault-specific parameters such as Stability Fees and Deposit Caps. USDH borrows are guaranteed by a combination of Hubble's USDH Vault (Stability Vault), and bots that facilitate market-based liquidations. The USDH that users deposit into the USDH Vault is used to pay off bad loans, while depositors earn a net positive ~10% difference in liquidated assets. In addition, users who deposit USDH in the USDH Vault earn HBB, Hubble's native token. In the coming phases of development, the protocol will launch various products and services to bring further utility to the platform, and USDH itself.

Method

The tables used in this dashboard are solana.core.fact_transactions and from the filter instructions[0]:programId='HubbLeXBb7qyLHt3x7gvYaRrxQmmgExb7fCJgDqFuB6T' is used to get Hubbub data.

The criteria that are checked in this dashboard are:

• daily active users
• new users
• mint/burn rates
• different rates of instructions
• Show the flows of USDH

Display information about active users

📊 Below you can see the data related to active users,

   which is 👀 displayed on a daily and weekly basis

It can be seen in the graph that At the beginning of Hubble's launch,

active users had a good increase And in 📅 January, which was the beginning of work, the conditions were good Then,

in 📅 April, the graph increased again

📈 In the following, according to the market conditions, this trend has decreased

The following graphs show the total number of new users as well as new users on a daily basis

As you can see, the 📈 total number of users is 4580 In the beginning, this trend reached its highest value on

📈 February 1, which was 510,

and the number continued to decrease.

On 📈 March 1st with 112 numbers and

on📈 April 19th with 170 numbers

, this routine increased again.

📊 Finally, according to the market conditions, this routine is still weak.

mint/burn rates

👀 The items shown in the following charts are:

• The total number is mint + burn 📊

• The number of burns on a daily basis📊

• Number of mints daily📊

• Amount of mint/burn rates on a daily basis📊

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flows of USDH

In the graphs below, the flows of USDH are displayed in the form of numbers and amounts On September 21, 2022, more USDH is the most used with 91 and Amount respectively

• February 10, $425K
• and February 25, $509K
• and On April 14, $435K
• And on September 22, it is $768K

📊 👀 It can be seen according to the diagrams The number of burns reached 📅 21 on February 24, there was a good routine from 📅 May 8 to May 20, and this routine did not increase from 📅 June 3 to 13. In the beginning, the number of mints had a good increasing trend, according to the number of active users and new users, this number reached 874 on 📅 February 1, 2022. This trend has been increasing at the end of March We had a good routine in 📅 September and October

In mint/burn rates, due to the fact that the number of mints in the graph is always more than burn, mint rates are 📈 close to 1 in most cases.

Kamino is an automated liquidity solution, built on DEXs operating concentrated liquidity market makers (CLMMs). Liquidity providers (LPs) seeking increased capital efficiency can take advantage of Kamino’s automated market-making vaults to improve expected yield from fees and rewards.

CLMMs are exponentially more capital efficient than traditional automated market makers (AMMs). However, this efficiency comes at the cost of complexity, and users can rarely harness the full potential of providing concentrated liquidity due to:

• Price volatility Increased risk of impermanent loss (IL)
• Inefficiently set ranges
• Manually compounding fees/rewards
• Time-consumption

Kamino resolves these issues by actively managing your LP positions so you can “set it and forget it.” Kamino maximizes capital efficiency and yield through:

• Advanced market-making strategies
• Automated position rebalancing
• Auto-compounding fees/rewards
• Passive user participation (improved UX)

Additionally, Kamino gives you a fungible kToken instead of an NFT as a receipt for your deposit. This LP token will be whitelisted as collateral to borrow USDH in the near future.

Conclusions

According to the above graphs, the following conclusions can be drawn: At first, the number of active users and the number of new users increased, but over time, the trend decreased The number of mint rates is more than burn rates and the reason for this is that the number of mints is more than burn According to the number of mint and burn, it can be seen that this practice is decreasing According to the graphs, it can be seen that USDH is used extensively in the Solana ecosystem, but the volume used is small.

USDH three pools:

• USDH-USDC
• SOL-STSOL
• USDC-USDT

respectively have more usage in Kamino