[Gauntlet] Ethereum v3 USDC Update (10/13/2023 - 10/19/2023)
Gauntlet would like to provide the community with an update on metrics from the Ethereum v3 USDC comet over the past week.
Simple Summary
- USDC Borrows are up 4.51%, from $280.95M to $293.61M.
- USDC Supply is up 1.52%, from $310.2M to $314.92M.
- USDC utilization increased 2.94%, from 90.6% to 93.2%.
- The minimum USDC reserve growth was 11.8%, and the maximum was 16.9%. The average USDC reserve growth was 16.0%.
- The comet accumulated $36.09k USDC reserves while distributing $180.41k COMP rewards for a weekly Net Protocol Profit of $-144.32k.
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 2.92%, from $573.28M to $590.0M.
USDC Supply is up 1.52%, from $310.2M to $314.92M.
USDC Borrows are up 4.51%, from $280.95M to $293.61M.
USDC utilization increased 2.94%, from 90.6% to 93.2%.
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 90.4%, and the maximum was 93.9%.
The minimum USDC reserve growth was 11.8%, and the maximum was 16.9%. The average USDC reserve growth was 16.0%.
The comet accumulated $36.09k USDC reserves while distributing $180.41k COMP rewards for a weekly Net Protocol Profit of $-144.32k.