Stablecoins on Kashi

    Introduction

    1. Kashi Market is a Sushiwap lending platform built on the BentoBox that allows anyone to create customised and gas-efficient markets for lending and collateralizing a variety of DeFi tokens, stable coins, and synthetic assets in a decentralised and seamless manner.
    2. In this dashboard, we will analyse the behavior of stablecoins on Kashi markets.
    3. We will first first look at the volume of stablecoin deposited for lending on Kashi (on Ethereum and Polygon).
    4. Then, we will examine the volume of stablecoin collaterised for borrowing on Kashi (on Ethereum and Polygon).

    Approach

    1. Polygon data dates from June 6th 2022.
    2. Each Kashi market consists of a single asset and a single collateral token. The name of each Kashi market on Kashi is interpreted as Collateral / Asset - Oracle. For example, the kmWETH / USDT - LINK could be interpreted as a Kashi pair, with WETH serving as collateral, USDT serving as the lending asset, and LINK serving as the oracle.
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    1. The bar chart above shows the volume of stablecoin deposited for lending on Kashi Ethereum.
    2. Kashi Ethereum has 6 stablecoins deposited for lending.
    3. With a volume of 47.87M USD, DAI is the stablecoin with the highest volume deposited for lending on Kashi Ethereum.
    4. This is fitting since DAI is the one of the most popular and most used stablecoin on Ethereum DeFi.
    5. This is followed by USDC and USDT, with volumes of 35.63M USD and 32.07M USD, respectively.
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    1. The bar chart above shows the volume of stablecoin collaterised for borrowing on Kashi Ethereum.
    2. Kashi Ethereum supports 3 stablecoins for borrowing.
    3. With a volume of 2.16M USD, DAI is the stablecoin with the highest volume collaterised for borrowing on Kashi Ethereum.
    4. This is followed by USDC, which has a total collaterised volume of 1.13M USD.
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    1. The bar chart above shows the volume of stablecoin deposited for lending on Kashi Polygon since June 6th 2022.
    2. There are 3 stablecoins deposited for lending on Kashi Polygon.
    3. USDC is the stablecoin with the highest volume deposited for lending on Kashi Polygon, with a volume of 5.943k USD.
    1. The bar chart above shows the volume of stablecoin collaterised for borrowing on Kashi Polygon since June 6th 2022.
    2. There are 3 stablecoins collaterised for borrowing on Kashi Polygon.
    3. USDC is the stablecoin with the highest volume stablecoin collaterised for borrowing on Kashi Polygon, with volume of 1.176k USD.
    4. This is followed by USDC, with a total volume of 168 USD.

    Conclusion

    1. DAI is the most popular stablecoin on Kashi Ethereum for both deposited lending and collaterised borrowing, as it has the highest deposit and collaterised volume.
    2. On the other hand, as the stablecoin with the highest deposit and collaterised volume, USDC is the most popular stablecoin for both lending and borrowing on Kashi Polygon.