The distribution of rewards per wallet is given in the plots above. For the sake of convenience, only 1000 wallets that have earned the most rewards is considered.

The biggest wallet in terms of size with a balance of 400.394846M, the reward it got is 394.827K. While the wallet that got the biggest reward of 25.3586M has a balance of 9.759298M. It can be seen that most wallets that got a reward of more than 5M has comparatively lower balance, whereas most wallets with a balance of more than 50M has comparatively lower rewards. So it can be argued that wallets with a lower balance have earned more rewards. This may be because they have spent more and hence the lower balance and higher rewards.

What is Algofi ?

Algofi is a fast, low-cost crypto lending market on the Algorand blockchain that makes decentralized lending broadly accessible. Algofi aims to be the first crypto-native bank that bridges the gap between traditional and decentralized finance. Algofi's simple fiat on-ramp allows users to buy crypto and earn interest without a bank or centralized custodian. In addition, traders can use Algofi to go short or to trade with leverage. In the future, Algofi will offer more traditional banking services like savings accounts and credit cards, all powered by the growing DeFi ecosystem on Algorand.

What is Algomint ?

Algomint is the next generation of Blockchain infrastructure that solves the interoperability challenge. Which brings popular assets to Algorand, where you can enjoy high speed and low cost in its DeFi boom scene. Holders can also join the party. They can now store their BTC and ETH in the safe box of Copper.co, mint goBTC and goETH in 1: 1 ratio and redeem later on demand.

Now we will deal with the reward payment rate in different volts and then we will examine the different protocols in terms of reward payment.

ALGO

Weekly Liquidity

The trend we see is that most of the weeks have seen people providing more followed by withdrawing

ALGO seems to borrowed and repaid very less, which might be due to the fact that loan goes up and down in value as the ALGO price fluctuates.

Weekly # of wallets

Most of the wallets are providing ALGO, followed by withdrawing.

Average Liquidity

On an average ~2000 ALGOS are being provided and withdrawn.

On an average ~1000 ALGOS are being repaid and borrowed.

Cumulative Liquidity

Most of the ALGO used in Algofi is used to provide as collateral.

The ALGO amount borrowed is very less as compared to provided as collateral.

Cumulative # of wallets

Most of the wallets are providing ALGO as collateral.

Very few are borrowing ALGO.

USDC

Weekly Liquidity

The trend we see is that most of the weeks have seen people borrowing more followed by Providing USDC seems to withdrawn and repaid very less, which might be due to the fact that USDC is a perfect source to provide and borrow as collateral.

Weekly # of wallets

Most of the wallets are providing USDC, followed by borrowing.

Average Liquidity

On an average each liquidity type is < 5000 USDC

However during the week of Jan 10, the average withdraw was 33.5K

Cumulative Liquidity

Most of the USDC used in Algofi is used to borrow as collateral.

The USDC amount provided is very less as compared to borrowed.

Cumulative # of wallets

Most of the wallets are borrowing USDC.

Very few are repaying or withdrawing USDC.

goETH

Weekly Liquidity

The trend we see is that most of the weeks have seen people providing more followed by Withdrawing

goETH seems to borrowed very less given the volatile nature of the asset.

Weekly # of wallets

Most of the wallets are providing goETH.

Average Liquidity

On an average each liquidity type is < 20 goETH

However during the week of Jan 10, the average provide and withdraw was ~ 120 goETH

Cumulative Liquidity

Most of the goETH used in Algofi is used to provide as collateral.

The goETH amount borrowed is very less as compared to borrowed.

Cumulative # of wallets

Most of the wallets are providing goETH as collateral.

goBTC

Weekly Liquidity

The trend we see is that most of the weeks have seen people providing more followed by Withdrawing

goBTC seems to borrowed very less given the volatile nature of the asset.

Weekly # of wallets

Most of the wallets are providing goBTC.

Average Liquidity

On an average each liquidity type is < 4 goBTC

However during the week of Jan 10, the average provide and withdraw was ~ 7 goBTC

Cumulative Liquidity

Most of the goBTC used in Algofi is used to provide as collateral.

The goBTC amount borrowed is very less as compared to borrowed.

Cumulative # of wallets

Most of the wallets are providing goBTC as collateral.

STBL

Weekly Liquidity

The trend we see is that most of the weeks have seen people borrowing more followed by Repaying, given the Stable nature.

STBL seems to provided very less given there is no incentive to provide it to the platform.

Weekly # of wallets

Most of the wallets are borrowing STBL.

Average Liquidity

On an average each liquidity type is < 2000 STBL

Cumulative Liquidity

Most of the STBL used in Algofi is used to borrow.

The STBL amount provided is very less as compared to borrowed.

Cumulative # of wallets

Most of the wallets are borrowing STBL as collateral.

Non-Stable assets like ALGO, goBTC and goETH are ones that are most supplied as collateral, since people expect these assets to go up in value in the long term, therefore it makes sense to provide them as collateral and hold them.

Stable assets like USDC and STBL are mostly borrowed since the loan value doesn't go up in value if the borrowed asset goes up in value.

As we can see, a total of 3370.118 goETH and 270.4724 goBTC are in circulation.

Now, we will calculate how many of them have been minted each day over time. To view a good analysis about that, I represent the result in two charts:

A daily line chart about the total tokens mint by asset over time

The cumulative are progression of tokens mint by asset

As shown in the charts above, the highest rewards for goETH and goBTC have been reviewed below.

We can see how during the first few days, more goBTC were minted. However, from starting December, the daily amount of tokens mint was higher for goETH asset. Nevertheless, both trending lines look similar. When number of goETH minted increase, the number of goBTC increase as well, in a little scale because of its high price but the daily change seems similar. In fact, on the only days when the goETH volume minted is much higher, there is a bigger difference with goBTC mining as the rise is not as steep. Finally, the second are chart shows the total accumulate tokens minted by asset over time, when we can see how during December and first days of January, the difference between both assets increased. It occured because of during these days, the peaks commented before appeared and the difference between both mintings was higher.

In the following, analyzing both charts about daily wallets that minted some tokens, we can see that the results are very different from the previous metrics analyzed. In this case, there is no relationship between both assets. Regarding goETH, we can see how the number of "minters" have been like 2 different waves. The first during the end of the year, and the second and the big one during last week, when the major number of wallets have been registered (a total of 419 in a single day). However, for the goBTC "minters" we can see only one wave during the same days as the first goETH wave. It seems that the number of "Minters" are equal for both in this specific wave. However, there is no a second wave registered for goBTC. In fact, the number of minters decreased from the first wave and now remains constant between 20 and 30 total minters.

I have plotted as well the number of mintings done by asset and the cumulative ones. In this case, the charts looks similar to the number of wallets that have minted some asset. Then, the results are clear, currently, the users are preferring to mint goETH rather than goBTC.

As we can see in the charts, few users have been redeemed some goBTC nor goETH so far. Taking a look at the last chart, the maximum amount of different wallets that redeemed some tokens was 3 and only in two occasions. As well, taking into account at the first chart, the number of tokens minted are so lower than the total minted, then we can thinking about the users who mint these tokens do it to hold them. as well, we can see how the two major peaks in terms of redeems are done during the two waves commented before.