Analytics Weekly Highlights | 2024-W24
Welcome to the Analytics Weekly Highlights for Week 24 of 2024.
Last week has been very chaotic on the crypto markets with the UwU exploit, and the drop in CRV price affecting all wrappers and triggerring mass liquidations accross the ecosystem. FiRM wasnt exempt with the large positions held by M. Egorov on on CRV and cvxCRV markets.
Let's dive into the figures to see what it meant for DOLA and FiRM.
Supply & Market Capitalisation
INV FDV USD: 18,642,450 (Change: -14.05%)
INV Circulating Supply USD: 18,241,599 (Change: -13.52%)
INV Circulating: 543,066 (Change: +0.62%)
DOLA Feds
DOLA Feds
This week the Fed Chair has been very active to accomodate for liquidators on the protocol to liquidate eligible positions pushing DOLA supply to a new all time high of USD 152 M and mitigate the effects of the turbulences on the LP :
Frax/pyUSD Fed has expanded by over DOLA 12 millions,
FiRM Fed by DOLA 3.9 millions,
Aura Fed by DOLA 2.2 millions,
Aero Fed by DOLA 1.5 millions,
and Opti Fed by DOLA 0.5 millions,
Total DOLA Supply: 152,859,686 (+15.66%)
FiRM
Usage
While FiRM user numbers have remained steady this week, we record the largest weekly number of transactions ever registered on the protocol with 280 operations over the week.
Borrowers: 59 (steady)
Stakers: 214 (-1)
Active Users: 250 (steady)
Markets
In Week 24 FiRM has known its largest weekly changes since its inception, with M. Egorov positions being liquidated on CRV and cvxCRV markets, decreasing both the TVL and current borrows by over a half.
However despite more than USD 6.474 millions of positions being liquidated over 105 liquidations, no bad debt was created for the protocol or its users.
Total Collateral: 19,963,253 USD (Change: -54.99%)
Current Borrows: 8,134,197 DOLA (Change: -55.54%)
Operations by types :
Liquidations : USD 6.474 millions (105)
Deposits : USD 2.190 millions (37)
Withdraw: USD 12.963 millions (58)
Borrow: USD 1.180 millions (28)
Week 24 Largest Transactions Summary:
Withdrawals by M. Egorov (0x7a1...428):
cvxCRV: 9,000,000 withdrawn for 3,009,339 USD (Transaction Link).
cvxCRV: 7,364,686.681 withdrawn for 2,462,538 USD (Transaction Link).
cvxCRV: 3,716,238.169 withdrawn for 1,242,602 USD (Transaction Link).
CRV: 4,100,000 withdrawn for 1,477,686 USD (Transaction Link).
cvxCRV: 500,000 withdrawn for 167,186 USD (Transaction Link).
see more below
Borrows:
DOLA: 999,000 DOLA borrowed against wstETH(Transaction Link).
Deposits:
wstETH : 427 deposited for 1,738,720 USD deposited on wstETH (Transaction Link).
Liquidations:
CRV: 280,000 liquidated for 280,000 USD (Transaction Link).
CRV: 217,818.8914 liquidated for 217,818.89 USD (Transaction Link).
CRV: 208,274.3432 liquidated for 208,274.34 USD (Transaction Link).
CRV: 178,539.2397 liquidated for 178,539.24 USD (Transaction Link).
CRV: 168,484.1744 liquidated for 168,484.17 USD (Transaction Link).
see more below
DBR
Burned: 1,299,534 DBR (Change: +7.88%)
Total Burned: 16,484,403 DBR
A handful of DBR purchases where spotted, most of them accomodating the liquidations on CRV and CVX markets.
You can find the exhaustive list of those trades in the table below.
sDOLA
Week 24 sees an sDOLA deposits decrease :
Weekly deposits : -97,557 DOLA
Total deposits : 1,436,398 DOLA (+6.36%)
DBR Virtual Auction
This week the DBR auction displays a more modest increase :
Total DOLA bougth : 771,104 DOLA (+33,889 DOLA / +4.60%)
Total DBR sold : 5,541,659 DBR (+356,006 / +6.87%)
DOLA Liquidity Pools
On the LP front, we can see larges shifts in LPs echoing by the large liquidations and repayments processed on FiRM :
DOLA in LPs: 69,365,569 (-20.84%)
Other Assets in LPs: 57,075,727 USD (-16.07%)
DOLA/Other Assets Ratio: 121.53 (Change: -4.11 pp)
The largest changes this week are observed in the DOLA-USDbC Aero lp and DOLA-USDC Aero lp on Base with respective decreases in TVL of USD 18.5 million (-23.38%) and USD 4.1 millions (-11.82%).
Governance
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.
This week in governance we've seen:
2 proposal created
2 proposal queued
Those proposals were related to :
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.