[Gauntlet] Arbitrum v3 USDC Native Update (11/03/2023 - 11/09/2023)
Gauntlet would like to provide the community with an update on metrics from the Arbitrum v3 USDC Native comet over the past week.
Simple Summary
- USDC Borrows are up 22.25%, from $11.31M to $13.82M.
- USDC Supply is up 24.18%, from $13.28M to $16.49M.
- USDC utilization decreased 1.83%, from 85.3% to 83.8%.
- The minimum USDC reserve growth was -10.6%, and the maximum was 24.1%. The average USDC reserve growth was 0.9%.
- The comet accumulated $0.03k USDC reserves while distributing 14.11k COMP rewards for a weekly Net Protocol Profit of -14.09k.
Analysis
Below are metrics of the market and parameters over the past week. Note that collateral supply values are normalized to end date token prices, in order to get an idea of intentional user behavior as opposed to fluctuations in underlying token prices.
Market Growth
Total Collateral (USD) is up 15.09%, from $24.4M to $28.08M.
USDC Supply is up 24.18%, from $13.28M to $16.49M.
USDC Borrows are up 22.25%, from $11.31M to $13.82M.
USDC utilization decreased 1.83%, from 85.3% to 83.8%.
Supply Caps
Above are the current supply cap utilizations for each collateral asset.
Above is a time series of supply cap utilization for each asset over the past week.
Utilization and Reserves
The minimum USDC utilization was 80.0%, and the maximum was 92.5%.
The minimum USDC reserve growth was -10.6%, and the maximum was 24.1%. The average USDC reserve growth was 0.9%.
The comet accumulated $0.03k USDC reserves while distributing 14.11k COMP rewards for a weekly Net Protocol Profit of -14.09k.