[Gauntlet] Base v3 USDbC Update (09/08/2023 - 09/14/2023)
Gauntlet would like to provide the community with an update on metrics from the Base v3 USDC comet over the past week.
Simple Summary
- USDC Borrows are down 9.19%, from $6.07M to $5.51M.
- USDC Supply is up 21.65%, from $9.25M to $11.25M.
- USDC utilization decreased 25.34%, from 66.0% to 49.3%.
- The minimum USDC reserve growth was -1.0%, and the maximum was 15.4%. The average USDC reserve growth was 7.9%.
- The comet accumulated $0.34k USDC reserves while distributing $11.96k COMP rewards for a weekly Net Protocol Profit of $-11.62k.
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 down 4.28%, from $10.73M to $10.27M.
USDC Supply is up 21.65%, from $9.25M to $11.25M.
USDC Borrows are down 9.19%, from $6.07M to $5.51M.
USDC utilization decreased 25.34%, from 66.0% to 49.3%.
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 49.1%, and the maximum was 66.9%.
The minimum USDC reserve growth was -1.0%, and the maximum was 15.4%. The average USDC reserve growth was 7.9%.
The comet accumulated $0.34k USDC reserves while distributing $11.96k COMP rewards for a weekly Net Protocol Profit of $-11.62k.
