Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly 🐰 hole (13 August 23) of liquidity movements & DeFi analysis, where we uncover key trends and insights into the top protocols and hidden gems.
🐰 Contents:
- Stablecoin flows
- Smart Money Movement
- Top L1/L2 Financials
- Top DAPP Financials
- Movement Analysis
- TLDR
1. Stablecoin flows:
Total Stablecoin MCAP = 122.36bil, with -0.27% weekly change.
Top 10 Chain (In terms of Stables Mcap)
Top inflows:
- Waves
- Mixin
- Wanchain
- Starknet
- Kava
Top outflows:
- Bittorrent
- KCC
- Conflux
- Algorand
- Osmosis
2. Smart Money Movement:
Cr: @ozfrox
Top Smart money inflows (including stablecoins):
- rETH
- USDT
- Dai
- stETH
- Wrapped ETH (Arbitrum)
Top Smart money outflows (including stablecoins):
- Wrapped ETH
- USDC
- Wrapped BTC
- GMX
- USDC (Arbitrum)
Top Smart money inflows (excluding stablecoins):
- rETH
- stETH
- Wrapped ETH (Arbitrum)
- Pepe
- 0x
Top Smart money outflows (excluding stablecoins):
- Wrapped ETH
- Wrapped BTC
- GMX
- HarryPotterObamaSonic10Inu
- Maker
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- BTC
- BNB
- Arbitrum
- Optimism
Revenue
- ETH
- Tron
- Base
- BSC
- Arbitrum
DAUs
- Tron
- BSC
- Polygon
- ETH
- Flow
Active Developers
- ETH
- Polkadot
- Cosmos
- Solana
- BTC
Code Commits
- ETH
- Polkadot
- Solana
- BTC
- Cosmos
4. Top DAPP Financials:
Fees-Generated
- Lido
- Uniswap
- AAVE
- MakerDAO
- PancakeSwap
Revenue
- AAVE
- MakerDAO
- Lido
- Maestro
- Convex Finance
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- Equilibre
- Mummy Finance
- SpookySwap
- Solarbeam
- Kwenta
P/S ratio
FDV Mcap/Annualized Revenue (Take this metric with a pinch of salt as revenue figs used could be annualized and not actual revenues earned)
- Equilibre
- Level Finance
- X2Y2
- Stargate
- SpookySwap
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Velodrome
- PancakeSwap
- Radiant
- Curve
- Synthetix
DAUs - Daily
- Pancakeswap
- Uniswap
- Stargate
- 0x
- Metamask
Trending Applications
- Gnosis
- Lifi (Arb)
- Lifi (BSC)
- Element Market
- Dao
Raises - Recent funding rounds
- Hypelab
- Helios Protocol
- Cantina
- Rocket Pool
- Curve
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap remain relatively flat this week at -0.27%.
- Waves, Mixin and Wanchain saw the largest stablecoin inflows.
- Bittorrent, KCC, and Conflux saw the largest stablecoin outflows.
Smart Money Movement:
- Smart Money remains slightly risk-on with increased exposure to Alts.
- rETH and stETH captured the majority of Smart Money inflow this week.
- Pepe, 0x and MNT lead Smart Money inflow this week.
- GMX lead Smart Money outflow this week despite the launch of GMX v2.
L1/L2 movement:
- Base L2 continues to rake in huge revenue this week as official bridges are live and actual defi applications start launching on the chain.
- Arbitrum retook its position over Optimism in terms of revenue earned as OP stack demand subsides.
DAPP movements:
- Lido remains the top fee-generating DAPP protocol this week as the premier LSD provider on-chain.
- Alpha drop by @apes_prologue
6. TLDR:
- GMX V2 was a flop in terms of assisting $GMX price appreciation, but only time will tell if this upgrade will allow it to maintain its dominance in the Perp Dex space.
- New protocol launches like $HMX seem to be doing well but do ape carefully as the risk of rugs is high with limited information.
P.s. I may have positions in the projects discussed in this article. Please note that this article is not intended as financial advice, and I encourage readers to conduct their own due diligence and ape responsibly.
Conclusion
That’s it Anon, hope you enjoyed the 🐰hole this week.
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