Report on V3 Compound Finance by PYOR

Greetings from PYOR. My name is Aadarsh and I work with the research and analyst team at pyor.xyz. We are a blockchain analytics firm and we work with protocols by giving high-fidelity insights. We have our own data product which we use to perform analysis and deliver insights to institutions like Ribbit Capital, M31 Capital and Compound.

We just published a detailed ecosystem report on Compound V3 offering insights on the new lending and borrowing features introduced. The aim of the report is to show the community how Compound as a protocol fared including how V3 improved on V2 providing better capital efficiency and risk management.

While curating this report, these are few of the things we found interesting:
As of April 28, 2024, the total USDC and ETH borrowed from their respective Compound v3 markets was $415.18 million and $86.78 million respectively.

Total earned assets (yield + native tokens) increased by ~150% over the last year.

As of February 5, 2024:

  1. Supply APR for USDC: 33.16%
  2. Borrow APR for USDC: 28.18%
  3. Utilization rate for USDC: 99.88%

Curating such a report will also give the foundation insights to effectively set goals for 2024.

I personally think this would be a great report to send out to the people who themselves use Compound and also for future users who would want to know more before getting their hands into the game.

We (PYOR) have also built a dashboard on Compound that you can check out, here’s the link.

Report on Compound v3