[Gauntlet] BASE v3 WETH Update (09/08/2023 - 09/14/2023)
Gauntlet would like to provide the community with an update on metrics from the BASE v3 WETH comet over the past week.
Simple Summary
- WETH Borrows are up 62.87%, from 0.87k ($1.42M) to 1.42k ($2.3M).
- WETH Supply is down 2.60%, from 3.84k ($6.42M) to 3.75k ($6.25M).
- USDC utilization increased 67.23%, from 22.0% to 36.9%.
- The minimum USDC reserve growth was -68.3%, and the maximum was -20.3%. The average USDC reserve growth was -45.3%.
- The comet accumulated $-0.29k USDC reserves while distributing $5.32k COMP rewards for a weekly Net Protocol Profit of $-5.61k.
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 57.21%, from $1.72M to $2.71M.
WETH Supply is down 2.60%, from 3.84k ($6.42M) to 3.75k ($6.25M).
WETH Borrows are up 62.87%, from 0.87k ($1.42M) to 1.42k ($2.3M).
USDC utilization increased 67.23%, from 22.0% to 36.9%.
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 18.7%, and the maximum was 36.9%.
The minimum USDC reserve growth was -68.3%, and the maximum was -20.3%. The average USDC reserve growth was -45.3%.
The comet accumulated $-0.29k USDC reserves while distributing $5.32k COMP rewards for a weekly Net Protocol Profit of $-5.61k.
