15 Indicators Overview of DeFi Status in 2022
Original author:Ignas，DeFi Research
Compilation of the original text: The Way of DeFi
Original author:
Compilation of the original text: The Way of DeFi
So what is the current state of DeFi in 2022?
Here are 15 metrics to know.
1. Total Value Locked
The figure is down 69% from its all-time high of $182 billion on Dec. 3, 2021.
https://defillama.com/
Maker's TVL dominance is 13.98%, which is much lower than the 50%+ dominance seen during the DeFi summer of early 2020.
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Note: The TVL calculation performed by DefiLlama does not include governance tokens pledged in the protocol, so-called second-pool LP tokens, borrowed assets on the lending market, liquid pledged assets, and double-calculated TVL from other protocols.
If the above metrics are included, DeFi TVL will be $92.7 billion.
2. DeFi Token Prices (YTD)
The DeFi Pulse Index (DPI) tracks the performance of major decentralized financial assets across the market.
In U.S. dollar terms, DPI is down 67.8% so far this year, outperforming ETH by 5%.
Among the major DeFi tokens, CRV saw the biggest drop of 85%.
3. Blockchain developer activities
The data for each new GitHub repository on-chain shows that developers are still building.
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Source: https://leodatavinci-blockdevmonitor-1--chain-activity-dashboard-rbz4 n5.streamlitapp.com/
A repository is where codebases are stored on GitHub.
The development activity of BNB Chain and Cosmos is steady, but much less than that of the three leader blockchains.
Things look even worse when it comes to code commits (tracking changes to the codebase) per chain.
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Code changes are down significantly across all blockchains, but Solana appears to have more activity than Ethereum.
Finally, the new developer figures per chain are not very optimistic.
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Source: https://leodatavinci-blockdevmonitor-1--chain-activity-dashboard-rbz4 n5.streamlitapp.com/
4. Smart Money holdings
https://pro.nansen.ai/smart-money/holdings
Smart Money data on Nansen refers to cryptocurrency entities that have traded or invested in a manner deemed experienced, well-informed, or "in the know."
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5. Weekly DEX trading volume
Weekly trading volume on DEXs has been declining, but remains at $8 billion.
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Source: https://dune.com/hagaetc/dex-metrics
Top 5 DEXs by 7-day trading volume:
Uniswap $5.4 billion
Pancakeswap $1.3 billion (data not included in this Dune table as it was taken from DefiLlama)
Curve $974.5 million
Dodo $731 million
Balancer $601 million
Sushiswap $170 million
Most of Dodo’s trading volume comes from stablecoin pairs.
Centralized exchanges dominate decentralized counterparties.
The ratio hit an all-time high of about 25% in February 2022, but has fallen to about 12%.
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Source: @TheBlock__, data @congecko
Remember how cheap it is to trade on CEX, the rate is not bad!
7. Earnings from Stablecoins
Most stablecoin lenders pay between 0.1% and 1.5% on Compound, Curve, Uniswap, or Aave.
Considering the risk reward ratio, Convex FRAX-USDC 2.45% or FRAX-3 CRV 3.19% are probably the best options.
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Source: https://pro.nansen.ai/smart-money/holdings
However, only Tron's USDD depositors can reap significant gains.
8. Proportion of on-chain stablecoins
This ratio shows how stablecoins compare to the DeFi TVL deposited on each chain. Tron is a blockchain of stablecoins.
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Source: https://xangle.io/en/analytics/CHAINS/tvl
9. The amount of pledged ETH
A total of 14.1 million ETH (11.7% of the total ETH supply) is staked, worth $19.4 billion.
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Lido 29.9%
Coinbase 14.5%
Kraken 8.2%
Source: https://dune.com/arch1111/eth-staking-dashboard
http://Staked.us 2.9%
Top 5 savers by market share:
Binance 6.5%
10. Top earning projects/dApps
Token Terminal tracks crypto projects based on cumulative revenue.
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Source: https://tokenterminal.com/terminal/metrics/protocol-revenue
Ethereum clearly leads with $193.1 million in 90-day revenue. followed by:
OpenSea $35 million
dYdX $22.2 million
PancakeSwap $16.6 million
Synthetix $13.8 million
ENS $12.5 million
11. Income distribution
The DefiLlama table shows the fees incurred by entering the treasury or the agreement of the holder.
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Source: https://defillama.com/fees
While some agreements incur substantial fees, actual revenues are low.
For example, Lido generated $950,435 in the past 24 hours, but only 10% of that ($95,044) was distributed to token holders or the Treasury.
12. DeFi Protocols by Treasury Size
Treasury is the dollar value of protocol funds (including unallocated governance tokens) held on-chain.
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Source: https://tokenterminal.com/terminal/metrics/treasury
Uniswap is sitting on $2.8 billion in treasury assets! The Ethereum Name Service (ENS) is also surprisingly well positioned in the bear market, with a treasury of $1.2 billion.
13. Amount of losses due to CeFi and DeFi scams, hacks and exploits
According to the Defi Yield App, a total of $60 billion has been lost due to scams, hacks, runaways, or other attacks.
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Source: https://defiyield.App/rekt-database
Terra alone lost $40 billion.
Other major DeFi hacks and losses in 2022:
Ronin Network - $625 million
Wormhole - $326 million
Nomad Bridge - $190 million
Beanstalk - $181 million
Wintermute - $162 million
More importantly, the DeFi Yield App data shows that the blockchain has lost a lot of money.
BSC is notorious for its frequent hacking and donation running incidents in the DeFi summer. For several months, more funds were lost on Ethereum, but in October, BSC returned to the position of "leader".
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15. Types of Hacking Attacks
According to a report by Chainalysis, DeFi protocols accounted for 97% of all stolen cryptocurrencies in the first three months of 2022.
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good news?
