Analytics Weekly Highlights | 2024-W01

Naoufel

1/8/20244 min read

Welcome, invaders, to the inaugural week of 2024! As we step into this new year, let's delve into the Analytics Weekly Highlights for Week 1, 2024, covering the latest developments within the Inverse Finance ecosystem.

Supply & Market Capitalisation

This week, we observed notable shifts in Inverse Finance's market dynamics:

  • INV FDV USD: 18,302,400 (Change: -3.81%)

  • INV Circulating Supply USD: 18,130,812 (Change: -3.78%)

  • INV Circulating : 453,957 (Change: +0.63%)

These changes signify a cautious start to the year, reflecting a recalibration in the market's outlook.

DOLA Feds

There was no change in the DOLA Feds, indicating a period of low market activity for the AMM Feds :

  • Total DOLA Supply: 49,571,853 (No Change)

FiRM

The FiRM markets this week showed interesting movements in collateral and borrows:

  • Total Collateral: 44,942,447 USD (Change: -8.19%)

  • Current Borrows: 15,257,045 DOLA (Change: -0.10%)

While this decline in collateral is notable, it does not originates from large nominal withdrawals on FiRM but rather from the sharp decline in price of CRV and assimilated wrappers on cryptocurrencies markets.

At the contrary we observe large deposits rebalancing this risk and flowing towards CRV and CVX markets with the 3 following suming up to more  than USD 1 Million :

$DBR

  • Burned: 21,926 DBR (0.41% of total amount burned)

  • Total Burned: 5,324,606 DBR

Usage

In FiRM, we noticed a slight decline in  borrower numbers balanced by an increase in stakers carrying the total user count to 241.

  • Borrowers: 50 (Change: -1 user)

  • Stakers: 217 (Change: +3 users)

  • Active Users: 241 (Change: +2 users)

The minimal change in FiRM's user activity suggests a strong holding sentiment for INV Stakers.

Exchange Markets

Week 1 of 2024 in the Inverse Finance ecosystem displayed diverse trends in market prices, illustrating the ecosystem's continuous adaptation to market dynamics.

  • $INV:

    • The price of $INV saw a notable decrease, ending the week at 38.13 USD (Change: -5.02%).

    • The weekly trading volume also experienced a significant drop, totaling 1,909,226.00 USD (Change: -36.91%).

    • This decline in both price and volume may suggest a period of reduced market activity and investor caution.

  • $DOLA:

    • Demonstrating stability, $DOLA's price exhibited a minor decrease, closing at 0.9887 USD (Change: -0.37%).

    • Despite this, the trading volume significantly declined to 1,473,165.91 USD (Change: -60.26%)

$DBR

In the first week of 2024, $DBR exhibited a significant downward trend, opening at 0.1595 USD and closing at 0.1414 USD, registering a notable decline of -11.38% in its daily price.

A detailed analysis of the transaction data from the TriDBR curve pool, particularly focusing on the DOLA/DBR exchange, reveals a contrasting trend. While DBR's trading price and volume have shown a downward trajectory in Week 01, there is a discernible increase in the average and median prices of DOLA compared to the previous week (2023-W52).

DOLA Liquidity Pools

In the first week of 2024, within a context of evolving market conditions, DOLA maintained a notable presence in the liquidity sphere. The week's activity was relatively quiet, with no liquidity pool marking TVL changes higher than USD 500k.

Key Highlights:

  • DOLA Value in LPs: The DOLA value in liquidity pools saw an uptick, reaching 30,179,001 DOLA. This represents a week-on-week change of +0.67%.

  • Other Assets Value in LPs: In contrast, the value of other assets in the liquidity pools decreased to 18,808,333 USD, a week-on-week change of -1.86%.

  • DOLA/Other Assets Ratio: The ratio experienced a considerable increase to 160.46%, signifying a change from the previous week of +6.64%.

Significant Pool Contributions:

  • D0LA-USDC AeroLP (Aerodrome on Base): Maintained its status as the largest liquidity provider.

    • DOLA Variation: +61,936.13 DOLA

    • TVL Variation USD: -229,585.74 USD (Week Change: -1.00%)

  • D0LA-FRAX-USDC (CRV on Ethereum): Experienced a downward trend over the week.

    • DOLA Variation: -290,113.43 DOLA

    • TVL Variation USD: -152,138.32 USD (Week Change: -3.61%)

The week's data for 2024-W01 highlights the dynamic nature of liquidity pool activities, with notable fluctuations in DOLA values and the DOLA/Other Assets ratio. The sustained role of D0LA-USDC AeroLP as a major liquidity provider illustrates the ongoing adaptability and key positioning within the Inverse Finance ecosystem's liquidity landscape.

Governance

A quiet week on the governance front, with only one new proposal created to adjust cvxFXS market parameters on FiRM.

Stay tuned for more insights next week ! If you have any data question don't hesitate to reach out to @naouufel on X/Twitter or to the Analytics General channel on our Discord.

Notes

Supply & Market Capitalisation : positions : on-chain data (RPC) , prices : DefiLLama

FiRM & Governance : on-chain data (subgraph: inverse-governance-subgraph)

DOLA Feds : on-chain data (RPC)

Markets : prices: Coingecko ; CEX trades & volume: Coingecko ; DEX trades & volume: on-chain data

Liquidity Pools : positions : on-chain data (RPC) ; prices : DefiLLama

To process and analyze the data we make a heavy use of python scripts and SQL which rely on our in-house data analytics platform Inverse Watch.

The data presented in this article has been aggregated on a weekly basis and is combining multiple data sources listed below. It is presented for information purposes and does not constitute an investment advice.

This analysis was realized taking assumptions due to the quality of the historical data available for some token prices. For this reason, some historical values might deviate from the reality

We do strive to continuously improve our data productions processes and are upgrading our methodology every day with the best tools available. For this rreason the data might periodically get revised.

Sources

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