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Uniswap Report

Covering November 5 - 11, 2019

PROTOCOL STATS

THIS WEEK

LAST WEEK

W/W

Liq. Reserves, ETH 67,314 63,848 +5%
Trading Volume, ETH 40,659 29,579 +37%
Traders 2,410 2,090 +15%
Trades 11,300 10,474 +8%
Liquidity Providers 2,441 2,345 +4%
DAI liquidity deepens 15% w/w. And liquidity further deepened after this report's cutoff. It helps that DAI is cheap to borrow -- MakerDAO recently decreased the stability fee for ETH-collateralized loans. LPs using CDPs are hoping their pooled ETH and borrowed DAI continue to outperform the 5% stability fee.

DAI pool returns likely to drop. The strategy to take advantage of the imbalance is: open a CDP with 67% ETH - mint DAI at 200% ratio - add 33% ETH and resulting DAI to Uniswap Pool. We can expect the DAI pool returns to get worse for two reasons: more LPs will mint (not buy) DAI and more LPs will join the pool to take advantage of the difference in borrow rate vs expected earn rate.



The limitations of VOL/LIQ. Dividing pool liquidity by volume gives a surprisingly reasonable indication of returns. But be wary. Imagine a big chunk of liquidity was removed just prior to the calculation -- returns would be severely overestimated.

Upgrades to uniswap.info. The stats site developed by the Uniswap team was given a major overhaul, including a detailed subgraph for just about any data pull you can think of.

Today's edition by
 
Caleb Sheridan
Co-founder, Blocklytics
Twitter
 

Trends

Over the last eight weeks

 

Top Exchanges

Ranked by volume

 

EXCHANGE

VOL. (ETH) ▼

TRADERS

LIQ. (ETH)

--- MKR
View on Pools.fyi ↗︎
13,533 459 9,746
--- DAI
View on Pools.fyi ↗︎
10,284 978 8,812
--- SNX
View on Pools.fyi ↗︎
5,036 308 3,433
▲ 1 USDC
View on Pools.fyi ↗︎
2,878 281 1,995
▼ 1 sETH
View on Pools.fyi ↗︎
1,636 103 19,522
--- REP
View on Pools.fyi ↗︎
757 95 600
▲ 1 BAT
View on Pools.fyi ↗︎
708 188 1,946
▼ 1 WBTC
View on Pools.fyi ↗︎
628 101 2,388
▲ 1 sUSD
View on Pools.fyi ↗︎
606 128 976
▼ 1 LINK
View on Pools.fyi ↗︎
490 89 493
▲ 3 NMR
View on Pools.fyi ↗︎
361 38 187
▲ 33 TKN
View on Pools.fyi ↗︎
338 43 1,265
▼ 1 RLC
View on Pools.fyi ↗︎
297 72 153
▲ 13 CBI
View on Pools.fyi ↗︎
288 3 643
▲ 1 ANT
View on Pools.fyi ↗︎
232 31 413
Uniswap Factory: 0xc0a47dfe034b400b47bdad5fecda2621de6c4d95