GM Compound Community.
Aakash here from the PYOR team. We built out an analytics app for Compound v3 stakeholders.
As part of our grant to expand the Compound v3 Analytics, we have expanded the chain coverage from – Ethereum to the following chains:
• Arbitrum
• Base
• Polygon
This initiative is part of the CGP 2.0 and represents the final milestone of our proposal. However, we will be maintaining the pipeline for – 52 weeks (from May 2024) – which includes necessary engineering and data efforts to ensure the data flows to the frontend.
Information regarding the grant can be found on Questbook.
Check out the app here.
Summary
The Compound v3 Analytics App is designed to cater to specific needs to each target customer on Compound. Namely – borrower, lender, and market participant in the COMP token.
The app provides analytics on two dimensions:
-
Gas and Fees Analytics: This includes data on contract-specific and loan-specific financial metrics, such as gas fees paid to interact with Comet contracts.
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General Analytics: This encompasses macro-level data for the protocol relevant to COMP token investors, such as active addresses, lenders/borrowers, token holders, median & average amounts borrowed/lent, fees, revenues, token incentives, and protocol reserves.
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Chains and Assets: The dashboard provides data on USDC and ETH borrowed and lent across – Ethereum, Base, Arbitrum, and Polygon.
User Interface
Through keen market research, we have identified three key customer personas of Compound. These include:
- COMP token investor
- Lender
- Borrower
Each persona requires a different set of analytics for their onchain needs.
For instance, a borrower will want to know:
- What is the total borrowed assets and utilization rate of the same?
- What are the collateralized assets in total value and split across assets?
This will allow them to make better, and ultimately safer, borrowing decisions.
Some data points overlap between the personas. However, we have tailored the analytics shown in each persona to be relevant to the specific persona for better UX.
We also provide an option for switching between analytics for the different base assets (namely USDC and ETH).
Major Value Adds
The major value add in this update of the Compound v3 Analytics app is the addition of 3 chains – Arbitrum, Base and Polygon – across the persona categories mentioned above.
Some interesting points to note:
- Arbitrum: Collateralized assets to borrow USDC massively increased from $16 million (in June 2024) to $52 million (in August 2024) and then fell to $22 million (in September 2024). The collateralized assets to borrow USDC are – WBTC, WsETH, and WETH.
- Polygon: Less than 50% of the capital lent was borrowed on Compound v3 on the Polygon chain, in August 2024. Since then, the utilization rate increased to 63% which is far lower than the utilization rate on Ethereum (95%+).
- Base: Total borrowed assets (in ETH) on Base reached $5 million, up from $2 million a year ago.
Data updation
We strive to provide the latest data to the community. Currently, the data refreshes at 7:00pm UTC every Monday, but we are looking to increase this frequency in the final version.
Request for Feedback
We are in the final stages of development and are actively seeking feedback from the community. Your insights and suggestions are invaluable to us and will help us refine the app to better serve your needs. Please share your thoughts on the features, user interface, and any other aspect of the app that you think can be improved.
Conclusion
We believe that the expanded Compound v3 Analytics App will be a game-changer for all stakeholders of the Compound ecosystem across all chains. By providing detailed insights into – borrower and supplier analytics, collateralization, utilization, and fees distribition, we aim to empower COMP token investors, lenders, and borrowers to make informed decisions.
Thank you for your continued support and we look forward to your feedback.