Stablecoins on Kashi
Introduction
- 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.
- In this dashboard, we will analyse the behavior of stablecoins on Kashi markets.
- We will first first look at the volume of stablecoin deposited for lending on Kashi (on Ethereum and Polygon).
- Then, we will examine the volume of stablecoin collaterised for borrowing on Kashi (on Ethereum and Polygon).
Approach
- Polygon data dates from June 6th 2022.
- 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, thekmWETH / 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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- The bar chart above shows the volume of stablecoin deposited for lending on Kashi Ethereum.
- Kashi Ethereum has 6 stablecoins deposited for lending.
- With a volume of 47.87M USD, DAI is the stablecoin with the highest volume deposited for lending on Kashi Ethereum.
- This is fitting since DAI is the one of the most popular and most used stablecoin on Ethereum DeFi.
- This is followed by USDC and USDT, with volumes of 35.63M USD and 32.07M USD, respectively.
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- The bar chart above shows the volume of stablecoin collaterised for borrowing on Kashi Ethereum.
- Kashi Ethereum supports 3 stablecoins for borrowing.
- With a volume of 2.16M USD, DAI is the stablecoin with the highest volume collaterised for borrowing on Kashi Ethereum.
- This is followed by USDC, which has a total collaterised volume of 1.13M USD.
- The bar chart above shows the volume of stablecoin deposited for lending on Kashi Polygon since June 6th 2022.
- There are 3 stablecoins deposited for lending on Kashi Polygon.
- USDC is the stablecoin with the highest volume deposited for lending on Kashi Polygon, with a volume of 5.943k USD.
- The bar chart above shows the volume of stablecoin collaterised for borrowing on Kashi Polygon since June 6th 2022.
- There are 3 stablecoins collaterised for borrowing on Kashi Polygon.
- USDC is the stablecoin with the highest volume stablecoin collaterised for borrowing on Kashi Polygon, with volume of 1.176k USD.
- This is followed by USDC, with a total volume of 168 USD.
Conclusion
- 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.
- 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.