Welcome to Issue #14 of Dune Digest! First, two pieces of news.
Firstly, we’ve launched a podcast called The Weekly Wizard!
We kicked off yesterday by interviewing one of the top Dune Wizards @hildobby. We talked NFTs, on-chain data, learning Dune, and much more!
Check it out:
We hope that the Weekly Wizard will be a great way for the Dune community to get to know each other better, and give rich insights from some of the sharpest minds in the industry!
Secondly - we’ve shipped sign in with Ethereum on Dune.
You can now:
1. Connect your wallet to your account (Settings > Wallets)
2. Show your address on your profile (Settings > Profile)
3. Log in with your wallet, no other credentials needed
We’re excited to launch this and also to explore more Web3 features in the future! Now, enough talk. Onto the data.
VADER Protocol
Vader protocol has been generating some buzz recently. It is essentially:
“A stablecoin anchored Automated Market Maker with protocol owned liquidity….. A combination of the best ideas in DeFi, namely the stablecoin mechanism of Terra Money’s burn to mint LUNA/UST, the AMM of THORChain, and the Bond Sales mechanism of Olympus Pro”
By combining some of the key innovations of the DeFi space, Vader protocol hopes to establish “the first truly decentralized stablecoin”, $USDV.
If you want to learn more about how it works there are some good articles here and here. The other best place to explore Vader is a dashboard by @andreaslewis.
For starters, $VADER is currently priced at $0.077 with a circulating supply of over 4.3 Billion, pushing market cap over $335 Million:
When this dashboard first came out there were fewer than 500 holders, this number has grown more than 15x since, now at 8,567 “invaders” in total:
LP fees dropped in mid December - picking up around Christmas time and remaining relatively steady since with a few significant spikes at the end of the month and early January:
While $VADER price hit an ATH of $0.130 on the 5th of January and held steady since:
It’s certainly a project with big ambitions and vision that we’ll be following closely.
If you want to learn more check out the full dashboard, and also this dashboard by @dotta that goes deeper into staking metrics.
Reimagined Finance
Billing itself as “DeFi reimagined”, Reimagined Finance is one of a new breed of yield farming platforms.
Essentially, you exchange ETH for $REFI and the project charges a “tax” for the treasury.
They then use this to farm across multiple chains and return profits back to holders in either ETH or native token dividends.
5% of each buy/sell is converted into ETH reflections automatically, and 7% goes to the treasury.
The project is only a month old but has been generating some buzz. @antforce put out a dashboard this week tracking things so let’s look at a few key metrics.
Firstly, the price of $REFI is currently sitting at $0.0618, and total market cap is at $61,791,774.
The daily reflection has dropped a little since early January:
And it’s sitting at a current 7 day average APR of 67.81%. The daily REFI reward distributions have followed a slightly different pattern:
With dividend APR at 63.25% over a 30 day average…. and daily rewards over the past 30 days averaging 37.0725 ETH.
It’ll be interesting to watch how this new generation of FaaS (farming as a service) platforms develops. In the meantime check out the full dashboard for a closer look!
Goldfinch Finance
Goldfinch is a lending protocol on Ethereum with some interesting characteristics.
Unlike collateralized DeFi lending platforms like Compound and Aave that dominate the market for low-risk lending to other DeFi users - Goldfinch seeks to lend to “real world” borrowers.
Their platform theoretically allows for the any form of collateral to back loans beyond pure digital assets, and for a variety of real world assets to be collateralized on-chain.
@pocker made a dashboard on Goldfinch earlier this week that sheds some light……
Firstly, the protocol retains 10% of all interest payments as reserves, with current reserves at $238,382 after a strong Q4:
TLV is also over $67 Million, with total gains standing at $932,666.07…..
Currently $1,187,026 has been repaid, with more than $38 Million in loans outstanding, a stat that has been growing considerably in recent months:
An interesting project that could potentially address a massive market, it will be interesting to see if they can pull it off.
To learn more read the whitepaper and check out the full dashboard by @pocker.
Chubbiverse Frens
If you like cute NFTs you’ll like Chubbiverse Frens that @hildobby recently released a dashboard on.
Total volume has cracked 2000 ETH, almost $3.4 Million…..
There are currently 2,459 holders, a figure that has grown steadily but not dramatically since mint in early November:
Sales volume was flat throughout the end of 2021, but shot up sharply in the New Year:
Price is currently at an average of 0.248 ETH, with a floor of 0.165 ETH.
Get a ton more stats from the full dashboard!
Hop Protocol
Hop allows you to send tokens from one rollup or sidechain to another, quickly and efficiently, through a trustless bridging protocol.
It currently supports bridging across Ethereum, Arbitrum, Optimism, Polygon and xDai.
@stakerj made a dashboard earlier this week that shows a TVL on Ethereum $79,067,148, and a total volume of 458,302,741!
Check out how TVL has grown through the past several months:
To learn more about Hop and see the full token breakdown - check out the full dashboard!
More Dashboards
GN
Thanks to all the Wizards who contributed this week - amazing work as ever!
We hope you enjoyed this edition, see you again next time for more data, dashboards & wizardry 🧙