[Gauntlet] Ethereum v3 WETH Update (10/13/2023 - 10/19/2023)
Gauntlet would like to provide the community with an update on metrics from the Ethereum v3 WETH comet over the past week.
Simple Summary
- WETH Borrows are up 5.56%, from 25.78k ($40.4M) to 27.21k ($42.65M).
- WETH Supply is down 1.09%, from 43.83k ($68.85M) to 43.34k ($68.1M).
- WETH utilization increased 6.72%, from 58.7% to 62.6%.
- The minimum WETH reserve growth was 8.4%, and the maximum was 22.0%. The average WETH reserve growth was 13.7%.
- The comet accumulated $3.77k WETH reserves while distributing $19.77k COMP rewards for a weekly Net Protocol Profit of $-16.0k.
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 4.87%, from $55.23M to $52.54M.
WETH Supply is down 1.09%, from 43.83k ($68.85M) to 43.34k ($68.1M).
WETH Borrows are up 5.56%, from 25.78k ($40.4M) to 27.21k ($42.65M).
WETH utilization increased 6.72%, from 58.7% to 62.6%.
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 WETH utilization was 56.9%, and the maximum was 71.4%.
The minimum WETH reserve growth was 8.4%, and the maximum was 22.0%. The average WETH reserve growth was 13.7%.
The comet accumulated $3.77k WETH reserves while distributing $19.77k COMP rewards for a weekly Net Protocol Profit of $-16.0k.