1/ The state of #DeFi in 15 charts🧵
2/ Starting by Total Value Locked, obviously.
$55.6B locked in DeFi smart contracts.
Down 69%😅from all time high ($182B) on December 3rd, 2021.
$55.6B locked in DeFi smart contracts.
Down 69%😅from all time high ($182B) on December 3rd, 2021.
4/ Blockchain developer activity
Data on new GitHub repositories per chain shows that devs are still building!
Ethereum and Solana have the most activity, with Polygon coming in 3rd.
(87,116 repositories monitored)
Data on new GitHub repositories per chain shows that devs are still building!
Ethereum and Solana have the most activity, with Polygon coming in 3rd.
(87,116 repositories monitored)
5/ The bad?
Number of new developers joining has dropped significantly.
Interestingly, more devs have been joining Solana and Polygon than Ethereum.
(98,960 developers monitored)
Number of new developers joining has dropped significantly.
Interestingly, more devs have been joining Solana and Polygon than Ethereum.
(98,960 developers monitored)
6/ Smart money holdings
According to @nansen_ai 30 day data, smart money is moving capital to Compound, Aave and wBTC.
They are also accumulating $MATIC, $BADGER, $APE, $UNI, $SRM and $CHZ.
According to @nansen_ai 30 day data, smart money is moving capital to Compound, Aave and wBTC.
They are also accumulating $MATIC, $BADGER, $APE, $UNI, $SRM and $CHZ.
7/ Weekly DEX Volume
Weekly trading volume on DEXes has been going down, but stands at a decent $8B.
Top 5 DEXes by 7D volume:
• Uniswap $5.4B
• Curve $1975M
• Dodo $731M
• Balancer $601M
• Sushiswap $170M
Most of Dodo volume came from stablecoin pairs.
Weekly trading volume on DEXes has been going down, but stands at a decent $8B.
Top 5 DEXes by 7D volume:
• Uniswap $5.4B
• Curve $1975M
• Dodo $731M
• Balancer $601M
• Sushiswap $170M
Most of Dodo volume came from stablecoin pairs.
8/ DEX to CEX spot trading volume
Centralized exchanges dominate decentralized counterparties.
The ratio reached all time high at ~25% in February 2022, but has dropped to around 12%.
Keeping in mind how cheap it is to wash trade on CEXes, the ratio is not that bad!
Centralized exchanges dominate decentralized counterparties.
The ratio reached all time high at ~25% in February 2022, but has dropped to around 12%.
Keeping in mind how cheap it is to wash trade on CEXes, the ratio is not that bad!
9/ Yields on stablecoins
Days of high yields are long gone.
Most of stablecoin lenders earn between 0.1% to 3.5%.
Only Tron's $USDD depositors earn a decent yield. But please DYOR on USDD before depositing!
Days of high yields are long gone.
Most of stablecoin lenders earn between 0.1% to 3.5%.
Only Tron's $USDD depositors earn a decent yield. But please DYOR on USDD before depositing!
10/ Stablecoin ratio by chain
This ratio shows stablecoins against DeFi TVL deposited by each chain.
Tron is a blockchain for stablecoins.
The marketcap of stablecoins on Tron is 4 times larger than the entire DeFi TVL on the chain.
This ratio shows stablecoins against DeFi TVL deposited by each chain.
Tron is a blockchain for stablecoins.
The marketcap of stablecoins on Tron is 4 times larger than the entire DeFi TVL on the chain.
12/ Top projects/dApps by revenue
Ethereum is a clear leader by 90 day revenue with $194.1M USD.
Followed by:
• OpenSea $35.1M
• dYdX $22.2M
• PancakeSwap $16.5M
• Synthetix $14.1M
• ENS $12.7M
Interestingly, Solana's low transaction fees also means low revenue.
Ethereum is a clear leader by 90 day revenue with $194.1M USD.
Followed by:
• OpenSea $35.1M
• dYdX $22.2M
• PancakeSwap $16.5M
• Synthetix $14.1M
• ENS $12.7M
Interestingly, Solana's low transaction fees also means low revenue.
13/ Revenue distribution
This DefiLlama table shows fees accrued to the protocol that goes to treasury or holders.
While some protocols generate a lot of fees, real revenue is quite low.
Ethereum is again a clear leader with $1.8M per day going to stakers.
This DefiLlama table shows fees accrued to the protocol that goes to treasury or holders.
While some protocols generate a lot of fees, real revenue is quite low.
Ethereum is again a clear leader with $1.8M per day going to stakers.
14/ DeFi protocols by Treasury size
Treasury is a USD value of the protocol's funds held on-chain (including unallocated governance tokens).
Uniswap is sitting on $2.8B treasury assets!
Higher treasury allows projects to hire more people, build new features and scale business.
Treasury is a USD value of the protocol's funds held on-chain (including unallocated governance tokens).
Uniswap is sitting on $2.8B treasury assets!
Higher treasury allows projects to hire more people, build new features and scale business.
15/ Amount of money lost in CeFi & DeFi scams, hacks and exploits
$60B!
Terra alone is responsible for $40B.
Other major DeFi hacks of 2022:
1. Ronin Network - $625M
2. Wormhole - $326M
3. Nomad Bridge - $190M
4. Beanstalk - $181M
5. Wintermute - $162M
$60B!
Terra alone is responsible for $40B.
Other major DeFi hacks of 2022:
1. Ronin Network - $625M
2. Wormhole - $326M
3. Nomad Bridge - $190M
4. Beanstalk - $181M
5. Wintermute - $162M
16/ Funds lost by blockchain
BSC was notorious for hacks and rug pulls during DeFi summer days.
But for the past 3 months most of the funds were lost on Ethereum.
BSC was notorious for hacks and rug pulls during DeFi summer days.
But for the past 3 months most of the funds were lost on Ethereum.
17/ Bonus chart. Hack attack types
DeFi protocols accounted for 97% of all crypto stolen in the first 3 months of 2022, according to a report from @chainalysis
Good news?
Flash loan attacks are almost gone in 2022.
Most hacks now are due to security breaches or code exploits.
DeFi protocols accounted for 97% of all crypto stolen in the first 3 months of 2022, according to a report from @chainalysis
Good news?
Flash loan attacks are almost gone in 2022.
Most hacks now are due to security breaches or code exploits.
18/ 👉 All the data sources available by checking the picture description.
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