[Gauntlet] Base v3 USDbC Update (10/13/2023 - 10/19/2023)
Gauntlet would like to provide the community with an update on metrics from the Base v3 USDbC comet over the past week.
Simple Summary
- USDC Borrows are up 12.06%, from $6.12M to $6.85M.
- USDC Supply is down 2.32%, from $12.26M to $11.98M.
- USDC utilization increased 14.54%, from 50.0% to 57.2%.
- The minimum USDC reserve growth was -0.1%, and the maximum was 9.3%. The average USDC reserve growth was 4.3%.
- The comet accumulated $0.19k USDC reserves while distributing $12.71k COMP rewards for a weekly Net Protocol Profit of $-12.52k.
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 8.29%, from $11.35M to $12.29M.
USDC Supply is down 2.32%, from $12.26M to $11.98M.
USDC Borrows are up 12.06%, from $6.12M to $6.85M.
USDC utilization increased 14.54%, from 50.0% to 57.2%.
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 49.9%, and the maximum was 59.5%.
The minimum USDC reserve growth was -0.1%, and the maximum was 9.3%. The average USDC reserve growth was 4.3%.
The comet accumulated $0.19k USDC reserves while distributing $12.71k COMP rewards for a weekly Net Protocol Profit of $-12.52k.