[Gauntlet] BASE v3 WETH Update (10/13/2023 - 10/19/2023)
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 down 6.13%, from 1.46k ($2.29M) to 1.37k ($2.15M).
- WETH Supply is up 3.99%, from 4.83k ($7.73M) to 5.01k ($8.04M).
- WETH utilization decreased 9.83%, from 29.6% to 26.7%.
- The minimum WETH reserve growth was -43.4%, and the maximum was -35.1%. The average WETH reserve growth was -37.9%.
- The comet accumulated $-0.34k WETH reserves while distributing $5.65k COMP rewards for a weekly Net Protocol Profit of $-5.99k.
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 7.76%, from $2.82M to $2.61M.
WETH Supply is up 3.99%, from 4.83k ($7.73M) to 5.01k ($8.04M).
WETH Borrows are down 6.13%, from 1.46k ($2.29M) to 1.37k ($2.15M).
WETH utilization decreased 9.83%, from 29.6% to 26.7%.
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 WETH utilization was 26.6%, and the maximum was 29.9%.
The minimum WETH reserve growth was -43.4%, and the maximum was -35.1%. The average WETH reserve growth was -37.9%.
The comet accumulated $-0.34k WETH reserves while distributing $5.65k COMP rewards for a weekly Net Protocol Profit of $-5.99k.