GM
We hit double figures - welcome to Issue #10 of Dune Digest!
As we approach the festive season Dune Wizards seem to be even more prolific than usual. It was hard to choose which dashboards to cover out of all the great ones released this week.
But, we managed to in the end. Let’s check them out……
The Currency by Damien Hirst
Known for his infamous pickled Sharks and quirky sculptures, Damien Hirst is a legend of the contemporary art world.
The Currency is his first foray into the world of NFTs. It’s a collection of 10,000 NFTs which each correspond to a unique physical artwork by Hirst & are stored in a vault in the UK.
Until July ‘22, holders will have the opportunity to burn the NFT and receive the physical artwork, or keep the NFT and the real piece will be destroyed. Interesting!
@OllieF built a nice dashboard on the project. Let’s take a look.
Since the project’s inception - total volume has been impressive hitting over $50 Million.
There has been almost half a million dollars of volume in the last week alone……
In total, there are 2,101 NFTs in circulation right now, and only a small portion of those have been burned and exchanged for the physical pieces:
The pieces are all unique, ranked by rarity according to a list of possible attributes. The most desirable pieces have been sold for six figures plus, with few having changed hands more than a couple of times.
An interesting project from a very big name, showing how mainstream NFTs are becoming in the traditional art world.
@OllieF hypothesizes that Hirst himself has earned around $1.3 Million from the project. Not bad at all - perhaps this will encourage more big names to enter the space. Check out the full dashboard for more!
GEARBOX Credit Account Mining
Gearbox is a new “generalized leverage protocol”, which allows users to take leverage in one place, then use it across various protocols and platforms.
On Wednesday, the protocol came one step closer to launch with the roll out of credit account mining.
What is credit account mining? Well, users need to rent “credit accounts” from the protocol to access the “composable leverage”. This is because its inefficient and impractical to deploy and toss a new smart contract every time.
So a list of wallets (with a history of protocol governance) have been given the opportunity to spend some gas to deploy one account per wallet and receive $GEAR in return.
To understand things further we can check out an excellent dashboard released yesterday by @k06a - Gearbox Credit Account Mining.
5000 credit accounts are available to mine, and there are 55,000+ eligible wallets.
When we checked in yesterday, only 1,500 accounts had been mined. It has been a busy 24 hours though because now all 5000 are done!
These account miners have spent 1,804 ETH, totaling $7,307,556!
There was a spike in new accounts early on, before dropping to a steady rate throughout the day as cumulative accounts rose nicely to hit the full quota:
There were also a few unlucky ones, with 93 failed attempts in total!
Check out the dashboard for more, this is an interesting new protocol.
[REDACTED] Treasury Bootstrap
[REDACTED] Cartel is a new DAO attempting to work as a complimentary sub-DAO and extension of Olympus DAO. Here’s the big idea:
“[REDACTED] will self-govern as a DAO, [REDACTED] is an OHM fork, and BTRFLY is the name of its rebasing governance token. Blah blah blah. In operation Swallowtail, its treasury will bond CRV and CVX tokens in exchange for BTRFLY. Minting off of gOHM and expanding out into other influential governance tokens are also on the horizon”
This week, treasury bootstrapping is underway. To explore further, @ethpanda made an excellent dashboard to shine some light.
In just a couple of days, more than 72 Million dollars has been raised.
Funds have been raised in:
OHM
CRV
CVX
Here’s the distribution visualized:
It looks like a real success. The dashboard has a lot more information and data on the $BTRFLY token, auction data, and treasury metrics. Check it out for a real deep dive.
Cowswap is Finding Traction
Cowswap is the first trading platform built on top of Gnosis v2, billing itself as a “DexAggregator of DexAggregators”.
@momir gave us a great dashboard earlier this week examining the protocol - let’s take a look.
Key stats:
36,634 unique traders
More than $3.5 Billion in cumulative volume
Not a whole lot was happening volume wise until the end of Summer, but everything surged upwards in Q4:
Daily traders also trended up during the same period, hitting consistent highs of 1000+ over the past week.
Daily volume is dominated by low frequency traders, with a significant minority of medium frequency.
These medium frequency traders seem to be making significantly larger individual trades though, since they barely show up on the daily trader count graphs.
Daily volume is also dominated by whales:
But recently more small traders are flocking to the platform which is showing healthy growth.
Check out the dashboard for liquidity, traders, volume and more!
$LYRA Airdrop
Lyra is a decentralized options platform on Ethereum. Over the past week they’ve been airdropping their $LYRA token to eligible addresses.
By looking at this dashboard the @Muir built to track things, we can see that the majority (of tokens have been claimed already - almost 52 million out of a total airdrop of 61 million.
That said, only around 1/3 of eligible addresses have claimed. Some received massive airdrops of 20-100k tokens, but the majority of addresses got between 100-1k.
$LYRA is now sitting at a price of $0.42, after some volatile swings during the week, so this was a nice airdrop for many.
Check out the full dashboard for far more detail!
More Dashboards
It was hard to choose the featured dashboards this week, there were so many awesome ones. Here are the ones that almost made it…..
GN
Thanks for reading as always. There are so many interesting projects being investigated on Dune lately, we hope that you enjoyed all the data and dashboards.
Double thanks to the Wizards for all their excellent work.
Have a great weekend. See you next time for more dashboards and wizardry!