Magmatic

Advanced AMM analytics for DeFi shareholders

[Magmatic @MagmaticHQ]

Alpha is out! Gradually sending first invites.

If you're not on waitlist yet, now is the best time to sign up: https://t.co/rCDlh3tkHi

[Magmatic @MagmaticHQ]

test

[Magmatic @MagmaticHQ]

Some Uniswap V3 stats:

ETH/USD (USDC, DAI, USDT) vol share: 70+%
ETH/USDC vol share: 50%
Stablecoin vol share: ~5%

Interestingly, most of ETH/USD vol is made through 0.05% fee pools.

[Magmatic @MagmaticHQ]

Interestingly, RAI liquidity on Uniswap is on par with other major stablecoins. It's about the same as DAI, and about 1/3 of USDC/USDT.

[Magmatic @MagmaticHQ]

.@reflexerfinance RAI is one of the most interesting experiment in stablecoin design.

A thread.

[Magmatic @MagmaticHQ]

Over the last 30 days, RAI liquidity grew from $54M to $105M, almost doubling in a month.

[Magmatic @MagmaticHQ]

@1A1zP1 DM for Alpha invite 👀

[Magmatic @MagmaticHQ]

Eventually, any AMM could win this market, either by sheer trading fees, liquidity mining, or partnerships. But for now, the market is segregated.

[Magmatic @MagmaticHQ]

What's the best place to shop DeFI tokens? Here, we'll look at the biggest DeFi tokens by volume on AMMs to find some patterns.

[Magmatic @MagmaticHQ]

So far, the biggest driver for liquidity are farming incentives. There are incentives to LP DPI on Uniswap, and AAVE on Balancer. Sushi is providing rewards for most of DeFi pairs via Perpetual mining & Onsen. The only outlier is MKR, which operates on Uniswap organically.

[Magmatic @MagmaticHQ]

This analysis doesn't include BTC/BTC pairs. But, as a side note, @CurveFinance broke ATH yesterday on WBTC/renBTC pair volume: over $200 millions were traded in a single day. Pretty cool.

[Magmatic @MagmaticHQ]

If we zoom into WBTC/ETH pair, we can see how @SushiSwap came from nothing and eventually took over 35% of market share in 3 months.

[Magmatic @MagmaticHQ]

Here's an aggregated view on WBTC/ETH pair, all time and last month alone. Sushiswap is growing, as well as 1inch.

[Magmatic @MagmaticHQ]

Looking into @Uniswap, we can see again that most of BTC volume went from WBTC pair, and that BTC pairs exploded in 2021, driving $1.5B of volume each month on Uni alone.

[Magmatic @MagmaticHQ]

BTC/ETH is a huge piece of DEX trading. Just last month alone, over $4.5 billion was traded across 3 pairs (WBTC, renBTC, TBTC).

Since january 2020, over $12 billion went through BTC/ETH markets, with over 97% of that being WBTC/ETH pair.

[Magmatic @MagmaticHQ]

Diving deep into BTC/ETH pairs, $11.8B originated from WBTC, $0.3B from renBTC, and $14 millions – from TBTC.