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Difai Weekly Report; Status of Decentralized Exchanges and Lending Platforms, September 27 (October 26)


Diffay has been a popular topic since last summer (Summer 2020) and has been recognized as a new application of the various capabilities of the Blockchain and the world of digital currencies. Since last year, the growth rate of decentralized programs and the diverse and powerful blockchains that have entered the field has grown significantly.

Decentralized finance, or DeFi, has grown from a passing wave in a hot summer to one of the most powerful and popular branches of investing and making money in the digital currency market. The category of investment, especially in the digital currency market, due to its infancy and unknown field, requires a careful study of information and data related to this market.

Continue to help an article From the Quinn 98 website, we will look at the status of Diffie protocols in several different Blockchainks.

Intra-chain criteria

First of all, we will look at the on-chain criteria of the popular blockchain domains of Defy, Ethereum, Binance Smart China and Paligan. Analyzing the number of intra-chain transactions, the number of addresses and their rate of increase can provide a good view of the defa status in these chains.

Total total addresses

Difai Weekly Report, September 27 (October 5)
Number of addresses in the three blocks of Ethereum China, Paligan and Bainance Smart China

The Paligan protocol, with its tremendous growth, is just 14.6 million addresses away from stealing the Bainance smart chain. Given that an average of 12 million addresses are added to the protocol every week, in the next week or two we will see the superiority of Paligan over Bainance Smart China.

New addresses

Difai Weekly Report, September 27 (October 5)
New addresses added to China Ethereum, Paligan and Bainance Smart China

Contrary to the growth of new addresses in the Paligan protocol, Ethereum Blockchain and Smart China Bainance are experiencing a downturn.

  • China Bainance Smart: 172,079 addresses (-51.5%)
  • Ethereum: 99,156 Addresses (-9.44%)
  • Paligan 1,845,341 Addresses (+ 30.78%)

Daily active addresses

Difai Weekly Report, September 27 (October 5)
Daily active addresses in the three blocks of Ethereum China, Bainance Smart China and Paligan

Bainance Smart China in terms of the number of active addresses in the network was able to exceed its previous peak and was in the range of 1.26 million active addresses per day. While Ethereum and Paligan have not changed significantly, with 200,000 to 500,000 daily active addresses, they continue to stabilize.

Daily transactions

Difai Weekly Report, September 27 (October 5)
Number of daily transactions in the three blocks of Ethereum China, Bainance Smart China and Paligan

The competition between Paligan and Bainance Smart China for the first place is spectacular. China’s Bainance Smart is currently peaking at 6.47 million daily transactions. Ethereum, meanwhile, is watching the rally with 1.2 million daily transactions as spectators.

Review of Layer 2 protocols

Total addresses

Difai Weekly Report, September 27 (October 5)
Total addresses in Optimism and Arbitrum

The powerful second layer protocols Arbitrum and Optimism are experiencing significant upward growth and are well received by their users. The exponential growth of the number of addresses in these two indicates this:

  • Arbitrum: 164,938 addresses (+13.13%)
  • Optimism: 125,656 addresses (+ 36.12%)

Daily transactions

Difai Weekly Report, September 27 (October 5)
Number of daily transactions in Optimism and Arbitrum

Arbitrary and optimistic protocols experience a downward trend after briefly touching the highest level of their daily transactions, indicating youthfulness and instability. Arbitrum recorded 267,000 daily transactions, and the number of Optimism transactions is in the same range.

Total locked assets

Difai Weekly Report, September 27 (October 5)

Arbitrum has proven to be a flagship in this field, and with its extraordinary leap, it has been able to register a total of $ 2.2 billion in locked assets (TVL) in its protocol. Optimism, with $ 231 million in assets locked in, is a long way off.

The sum of assets locked in blocks of different classes

Difai Weekly Report, September 27 (October 5)
TVL Blocks of different sizes

The Diffie ecosystem, with a slight drop of 5.96 percent from the previous week, now has $ 150 billion in assets. Ethereum is still at the forefront of this, and as you can see in the image above, about two-thirds of the total assets locked in the Defy domain are locked in the Ethereum blockchain.

Difai Weekly Report, September 27 (October 5)
TVL in the blockchain of Paligan, Solana, Olench and Tera

Solana has experienced significant growth in recent months, and as a result, the field of drifting on Solana has developed. But with a problem with the Blockchain network that affected it for several days, the price of the SOL token fell sharply, and the Defai area in Solana was damaged, with total assets locked up from $ 12.5 billion to $ 9 billion. Reduced. In this way, Solana, who by a large margin surpassed the Blockchain of Paligan, Olench and Terra, is now lagging behind Paligan. Terra is back in the market after last week’s decline and is strengthening its ecosystem. Olench has not lagged behind the market cycle, adding $ 3.2 billion to its ecosystem.

The sum of locked assets by ecosystem

In the following, we will examine the benchmark of locked assets for the 4 blocks of Ethereum China, Bainance Smart China, Solana and Olench. But in this study, decentralized exchange platforms, lending, assets and derivatives markets will be examined separately.

Ethereum

Difai Weekly Report, September 27 (October 5)
Total value locked in different categories in the Ethereum

Assets in collateral ecosystems in the Ethereum Blockchain are still on the rise with $ 40 billion in locked-in capital, maintaining a leading position in this area. The second largest decentralized exchange (DEX) is the one that has locked in $ 30 billion in its network. The derivatives market in the Ethereum blockchain also has $ 7.31 billion in locked assets, down 14.98 percent from the previous week.

Bainance Smart China

Difai Weekly Report, September 27 (October 5)
Total value locked in different categories in Bainance Smart China

Decentralized exchanges are the most popular market in China’s Bainance Smart, with $ 13.8 billion in locked-in capital in this ecosystem, and obviously Pancake Swap accounts for a large portion of this market. But the decentralized exchanges in the Blockchain have been on a downward trend since late August (early September). On the other hand, lending protocols in China’s Bainance Smart have been welcomed and have been on the rise since early September (mid-September). Derivatives markets have also re-entered their uptrend by attracting adequate capital.

سولانا

Difai Weekly Report, September 27 (October 5)
Total value locked in different categories in Solana

The Solana ecosystem has entered a downturn after a problem with the Blockchain network. The largest market belongs to decentralized exchanges, which are at the top of the list with $ 5.7 billion in locked assets, with the bulk of this market belonging to Ridium, Saber and Serum exchanges. Solana’s blockbuster digital assets are next with $ 2.37 billion, down 17.33 percent. But in the lending ecosystem, we have seen significant growth, bringing the amount of capital available in this sector to $ 800 million.

اولنچ

Difai Weekly Report, September 27 (October 5)
The sum of the values ​​locked in the various categories in the Olench

The strongest segment of the Olench ecosystem is decentralized exchanges, which top the market with $ 1.4 billion in capital raising. Digital assets and locked-in assets in the Blockchain lending sector are next in line.

A deeper look at the field of defense

In the following, we will examine in a little more detail the different areas of defa in different blockchains, and this time we will examine the share of each of the decentralized exchanges and large lending platforms in liquidity, trading volume and locked value.

Decentralized exchanges

Difai Weekly Report, September 27 (October 5)
Liquidity of decentralized exchanges by blockchain

Over the past week, the amount of liquidity available in decentralized exchanges has been declining significantly. In the meantime, the only platform that was promising was Olench. The decentralized exchanges in the Olench Blockchain surpassed it with $ 1.4 billion in locked-in assets in close competition with the Terra ecosystem. Access to the Solana market is the next goal of the protocol, which currently has $ 5.7 billion in locked-in capital.

Separation of liquidity of decentralized exchanges based on protocols

Difai Weekly Report, September 27 (October 5)
Liquidity in decentralized exchanges

Curve continues to lead the way with $ 13 billion in liquidity as a leading protocol. Pancake Swap is still in second place on the list, given that it is on a downward trend. Trader Joe’s decentralized exchange is also making significant progress and will be ready to overtake the TerraSwap and Raydium trading platforms in the next week or two.

Volume of weekly transactions in decentralized exchanges

Difai Weekly Report, September 27 (October 5)
Volume of decentralized exchange transactions

Sales in decentralized exchanges are still high, with a slight change from the previous week. The total number of transactions made this week is $ 23.56 billion, most of which were made in Uni-Swap and Pancake-Swap exchanges.

  • UniSwap: $ 10,640,995,273 (+66%)
  • Pancake Swap: $ 5,257,709,510 (+ 4.73%)

Lending platform ecosystem

Difai Weekly Report, September 27 (October 5)
Locked value in lending platforms

Although we have seen a declining trend, lending protocols on the Ethereum platform are still leading the way. Ethereum differs significantly from other blockchains in this area, and the total value locked in lending platforms is several times higher than the total blockchain blocks of Smart China, Paligan, Olench, Solana and Tera.

The amount of capital locked in lending protocols

Difai Weekly Report, September 27 (October 5)
TVL blocks different layers except Ethereum

Excluding Ethereum from the calculations, China’s Bainance Smart is at the forefront of this segment, and the Terra platform is waiting for the opportunity to take the place of this protocol. Solana has also grown significantly and is approaching the Olench lending protocol.

Outstanding lending platforms this week

Difai Weekly Report, September 27 (October 5)
Status of lending platforms

This week, due to the market downturn, most lending platforms faced a decline in capital. The Aave protocol is still in second place with $ 8.8 billion, down 2.62 percent at the top and compound with $ 8.6 billion, down 3.5 percent.

Ethereum Derivatives Market

Difai Weekly Report, September 27 (October 5)

The daily trading volume of the Ethereum Derivatives Market has increased significantly and has managed to cross its price peak of $ 2.66 billion. The most successful protocol in this area is dYdX, which alone accounted for 93.88% of transactions worth $ 1.7 billion.

Unparalleled stock markets; Significant growth of the OpenSea platform

Difai Weekly Report, September 27 (October 5)

After the volume of transactions and the number of unique addresses traded on the DUA in late August, we saw a one-third drop in the volume of transactions on the OpenSea platform, but the DAU did not decline that much. Is. This reflects the growing trend of small traders embracing the NFT market.

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