[Sushiswap] - Fees on Kashi Markets

    Bounty Question: How much fees each Kashi market has generated and which are the top markets in terms of fees generated?

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    Introduction


    What is Kashi?

    Kashi is a lending and margin trading platform, built on the BentoBox, that allows for anyone to create customized and gas-efficient markets for lending, borrowing, and collateralizing a variety of DeFi tokens, stable coins, and synthetic assets. Kashi's broad diversity of tokens is supported through the use of a unique isolated market framework. Unlike traditional DeFi money markets where high-risk assets can introduce risk to the entire protocol, in Kashi each market is entirely separate (similar to the SushiSwap DEX), meaning the risk of assets within one lending market has no effect over the risk of another lending market. (Source)

    Methodology


    The following methods are used in this dashboard:

    • Due to the fact that Kashi Market has both lending and borrowing sections, 2 tables were used to filter Kashi Markets transactions. These two tables contain Ethereum and Polygon networks:

    > flipside_prod_db.crosschain.ez_borrowing > flipside_prod_db.crosschain.ez_lending

    • After filtering these transactions, the following tables were used to calculate the amount paid for the transactions:

    > ethereum.core.fact_transactions > polygon.core.fact_transactions

    Results


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    • Kashi platform users have paid 220 ETH for transaction fees in 467 days. That means, on average, 0.47 ETH has been paid daily for transaction fees.

    • The data in the Polygon tables is available from June 6, 2022==, it shows that in the last 37 days, a total of about 25 MATIC has been paid for transaction fees. That means, on average, 0.675 MATIC has been paid daily for transaction fees.

    • If we put the daily averages next to the price of ETH and MATIC, it can be said that users on the Ethereum network, on a dollar scale, have paid more than a thousand times more transaction fees than users in Ethereum layer 2 (Polygon). This is perhaps a good indication of how useful layer 2s can be for users.

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    • If we look at the daily fees paid on the Ethereum network, it can be seen that the fees paid during the peak days of the crypto market in 2021 were the highest.

    • On October 27, 2021, about 9 ETH has been paid for transaction fees. This amount is at least 2.4 times the fee paid for Kashi Market transactions on other days.

    • Among the markets, in the Polygon network, the ==WETH/USDC== market has generated the highest fee by paying more than 16 MATIC as a transaction fee. This is at least 8 times more than the fee generated by any other market. After that, ==WETH/DAI== and ==WBTC/DAI== are in second and third place with around 2.16 and 1.55 MATIC. In the chart above, you can see the top 10 markets in terms of fee generated.
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    • Among the Kashi markets, in the Ethereum network, the ==xSUSHI/DAI== market has generated the highest fee by paying more than 25 ETH as a transaction fee. After that, ==xSUSHI/USDC== and ==WETH/DAI== are in second and third place with around 19 and 13 ETH respectively. In the chart above, you can see the top 10 markets in terms of fee generated.

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    • If we look at the daily fees paid by the Polygon network, due to the incompleteness of the tables, it is not possible to make a detailed historical review. But in these 37 days that the data is available, there is no clear trend in the fees paid.

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    • On July 12, 2022, a little over 15 MATIC has been paid for transaction fees. This amount is at least 7.6 times the fee paid for Kashi Market transactions on other days.