Weekly DeFi Rabbit Hole by zj.valz
Welcome to the weekly 🐰 hole 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 = 122.45 bil, with 0.36% weekly change.
Top 10 Chain (In terms of Stables Mcap)
Top inflows:
- Osmosis
- Gnosis
- Canto
- Linea
- Kava
Top outflows:
- DefiChain
- Boba
- Terra Classic
- SmartBCH
- Arbitrum Nova
2. Smart Money Movement:
Top Smart money inflows (including stablecoins):
- Wrapped ETH
- wstETH
- USDC
- USDC (Arbitrum)
- USDT (Arbitrum)
Top Smart money outflows (including stablecoins):
- Dai
- Conic Finance Token
- HILD
- MKR
- poor guy (Arbitrum)
Top Smart money inflows (excluding stablecoins):
- Wrapped ETH
- wstETH
- FXS
- Ator
- Ethereum Token
Top Smart money outflows (excluding stablecoins):
- Conic Finance Token
- HILD
- MKR
- poor guy (Arb)
- Wrapped TON Coin
3. Top L1/L2 Financials:
Fees-Generated
- ETH
- Tron
- BTC
- BSC
- zkSync Era
Revenue
- ETH
- Tron
- zkSync Era
- Arbitrum
- Base
DAUs
- Tron
- BSC
- Near
- BTC
- ETH
Active Developers
- ETH
- Polkadot
- Cosmos
- Solana
- BTC
Code Commits
- ETH
- Polkadot
- Solana
- Cosmos
- BTC
4. Top DAPP Financials:
Fees-Generated
- Lido
- Friend.tech
- Uniswap
- OpenSea
- MakerDAO
Revenue
- MakerDAO
- Friend.tech
- OpenSea
- Lido
- Metamask
P/F Ratio
Relative valuation of protocols (Lower the no. the “better”)
- Mummy Finance
- Nether.Fi
- Equilibre
- ApeX Protocol
- Level Finance
P/S ratio
*DISCONTINUED FROM THIS WEEK ONWARDS DUE TO LACK OF DATA & RELIABILITY*
Holders Revenue - Cumulative revenue attributable to holders 24 Hours
- Venus
- PancakeSwap
- Radiant
- Synthetix
- Curve
DAUs - Daily
- Pancakeswap
- Uniswap
- Stargate
- 0x
- Metamask
Trending Applications
- Stars Arena
- Trust Wallet
- Arbitrum Odyssey
- Paraswap
- Gnosis
Trending Categories
- NFTs (ARB)
- Social (ETH)
- NFTs (ETH)
- Tokens (Polygon)
- Defi (OP)
Raises - Recent funding rounds
5. Movement Analysis:
Stablecoin flows:
- Total stablecoin market cap remains flat this week with a slight increase of 0.30%.
- Osmosis, Gnosis, and Canto saw the most significant stablecoin inflows.
- DefiChain, Boba, and Terra Classic saw the most significant stablecoin outflows.
Smart Money Movement:
- Smart Money has an aggregated portfolio allocation of 42% ETH/ETH Variant, 41% Alts, and 17% Stablecoin this week.
- FXS, Rollbit, and SPX saw the largest Smart Money inflow this week.
- Conic Finance, HILO, and MKR saw the largest Smart Money outflow this week.
- No notable movements were made by Smart Money other than small accumulation and/or divestments.
L1/L2 movement:
- Arbitrum revenue continues to outpace Base as users flock back in anticipation of the Arbitrum Grant Program.
- You can refer to https://arbitrumstip.replit.app/ to see which protocol has met the requirements to obtain the grant.
DAPP movements:
- MakerDAO overtook Friend.Tech this week in terms of revenue generated mainly attributable to the success of its RWA integration with T-bills and benefitting from the rising interest rate environment.
- Stars Arena is the top trending DAPP this week however the protocol suffered an exploit resulting in a $2.9 million hack. More details can be found here.
- Alpha drop by @apes_prologue
- Raises that caught my eye this week include:
- Ostium Labs - A RWA perp dex, raising $3.5 million from the likes of Balaji;
- Phaver - A Web 3.0 onboarding social protocol; and
- Blackbird - A Web 3.0 protocol aiming to transform the restaurant dining experience, raising $24 million series A round led by a16z.
6. TLDR:
• Slow start to the month of October. However, BTC and ETH continue to maintain a sideways trajectory with shallower dips, potentially signaling a local bottom soon.
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.