[Gauntlet] Base v3 USDbC Update (11/03/2023 - 11/09/2023)
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 4.47%, from $7.81M to $8.16M.
- USDC Supply is down 12.93%, from $11.38M to $9.91M.
- USDC utilization increased 17.57%, from 68.5% to 80.6%.
- The minimum USDC reserve growth was 16.5%, and the maximum was 24.2%. The average USDC reserve growth was 20.8%.
- The comet accumulated $1.27k USDC reserves while distributing $15.88k COMP rewards for a weekly Net Protocol Profit of $-14.61k.
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 1.82%, from $15.67M to $15.95M.
USDC Supply is down 12.93%, from $11.38M to $9.91M.
USDC Borrows are up 4.47%, from $7.81M to $8.16M.
USDC utilization increased 17.57%, from 68.5% to 80.6%.
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 68.3%, and the maximum was 80.6%.
The minimum USDC reserve growth was 16.5%, and the maximum was 24.2%. The average USDC reserve growth was 20.8%.
The comet accumulated $1.27k USDC reserves while distributing $15.88k COMP rewards for a weekly Net Protocol Profit of $-14.61k.