DeFi
Praneet Sinha

Don’t Trust, Verify Our Interest Rates

(The google sheet is updated every Monday and the blog on 1st of every month)

As an open finance platform, our goal is to be completely transparent about lending and borrowing activity on the platform and provide a way to verify your returns as a lender. We analyzed the Historical Interest Distribution activity on our platform and noticed some interesting movements across— DAI, USDC, TUSD, and WBTC.

You can click the link below to see the exact numbers:

The data points we analyzed were Daily Gains, Daily Gains% and Weekly Gains APR of these tokens to understand the behavioral movement of these tokens. Let’s take a deep dive into each of these tokens

DAI

The USD pegged DAI is the most utilized currency on Nuo, where we have
$1.3 million worth DAI stored in the Reserve Pool currently, with Active Loans being around $375,000 and Lend APR and Borrow APR at 8.8% and 10.7% respectively. From our report, we analyzed a few interesting activities that happened with DAI on our platform. You can see the interest distribution across the DAI pool since May.

Daily Gains for DAI from 10th May 2019 to 15th Sept 2019

If we break it down then,

Since 12th May to 15th Sept, the Reserve pool grew from $271,140.52 to $1,360,821 which is 501.89% growth in about 4 months.

Highest Weekly Gains APR recorded from 12th to 18th Aug at 59.94% and the highest Gain distribution in a single day has been of 10,433.67 DAI

USDC

Another rapidly growing stable coin on Nuo is USDC, wherein Reserve Pool size is at $2.6 million worth of USDC, with Active Loans being around $650,000 and Lend APR is as high as 14.6% while Borrow APR is at 9.7%. From our report, here is the interest distribution for the USDC reserve pool.

Daily Gains for DAI from 10th May 2019 to 15th Sept 2019

If we break it down then,

For USDC, July was the golden month., here we saw consecutive growth in Weekly Gain APR to be 27.61%, 38.88%, and 36.45% for the straight three weeks respectively.

Highest Weekly Gains APR recorded from 26th Aug to 1st Sept at 63.20% and the highest Gain distribution in a single day has been of 14,412.58 USDC

TUSD

Another well-reputed USD pegged on the Nuo.network is TUSD, wherein Reserve Pool currently there is up to $149,484, with Active Loans being around $20,956, and Lend APR is as high as 9.9% and Borrow APR at 6.8%. From our report, here are a few interesting activities happened in TUSD

Daily Gains for DAI from 10th May 2019 to 15th Sept 2019

If we break it down then,

In TUSD, from May to September start, the total reserve pool rose from $35,165.86 to $282,266.92 resulting in 802.67% growth.

Highest Weekly Gains APR recorded from 26th Aug to 1st Sept at 68.44% and the highest Gain distribution in a single day has been of 396.83 TUSD

WBTC

Wrapped Bitcoin is backed 1-to-1 by Bitcoin on Ethereum. The token was launched on31st Jan this year, and its supply has since grown over 300%.

On Nuo, where we have $262,361 worth WBTC stored in the Reserve Pool, with Active Loans being around $50,238 and Lend APR and Borrow APR at 1.8% and 7.3% respectively. From our report, we analyzed a few interesting activities that happened with WBTC on our platform.

Daily Gains for DAI from 10th May 2019 to 15th Sept 2019

If we break it down then,

Since 12th May to 4th August, the Reserve pool grew from $65,717.48 to $277,753.15 which is 422.65% growth in about 3 months. Weekly Gains APR for the week 24th June to 30th June were as high as 19.63% and for the week 8th July to 14th July APR went up to 11.46%.

Highest Weekly Gains APR recorded from 24th June to 30th June at 19.63% and the highest Gain distribution in a single day has been of 0.041584 WBTC

Conclusion

The goal of this analysis was to provide our users with the unfiltered insight into our progress and how each of these tokens is performing on our platform.

Daily Gains for DAI from 10th May 2019 to 15th Sept 2019
Daily Gains for DAI from 10th May 2019 to 15th Sept 2019

Observing the data of last three weeks average of over 20% weekly gains APR~ USDC and TUSD stands out followed by DAI backing its tracks with high gains APR. We hope, with this data you’ll be able to understand the behavior of these tokens and place your trades more effectively.

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