Compound Finance Daily Snapshot

18 FEB 2023 (SATURDAY)

What Is Compound?

Compound Finance is a decentralized lending and borrowing protocol, built on top of Ethereum blockchain where users are free to lend and borrow their crytpos on this platform.

Our analysis here would look into the day-to-day changes of all borrowing, lending, deposit and withdrawal activities that happened overnight here.

All analysis here is generated by OpenAI GPT3 artificial intelligence model based on Quantified Finance data feed, and further enchanced by our in-house analysts.


Please note that investing in cryptocurrency carries significant risks and may not be suitable for all investors. Cryptocurrency markets are highly volatile and unpredictable, and the value of your investment may fluctuate greatly, even within short periods of time. It is important to conduct your own research and understand the risks associated with investing in cryptocurrency before making any investment decisions.

Furthermore, investing in cryptocurrency is not protected by any government or regulatory authority. Unlike traditional currency or assets, cryptocurrency is decentralized and not backed by any physical asset or legal entity. This lack of regulation and oversight means that there is a higher risk of fraud, hacking, and other criminal activity that may result in a loss of funds.

Additionally, cryptocurrency exchanges may be subject to technical issues and operational failures that can impact the availability and security of your investments.

This article is written for educational and informational purposes only and is not a financial advice or recommendation to buy/ sell any cryptocurrency. Before investing in cryptocurrency, please consider your financial situation, risk tolerance, and investment goals. It is also important for you to seek advice from a qualified financial professional before making any investment decisions. By investing in cryptocurrency, you assume full responsibility for any losses that may result.

Overnight Borrowing Activities

This report analyses the borrowing rates of various crypto tokens with the lowest borrowing rates on February 18th, 2023. 

The borrowing rate for Pax Dollar (USDP) was 1.65%, with no change from the previous day. Ether (ETH) had a borrowing rate of 2.72%, representing a 0.020740% increase from the previous day.

Wrapped Bitcoin (WBTC) had a borrowing rate of 2.86%, representing a 0.002315% increase from the previous day. Lastly, DAI and COMP had borrowing rates of 3.27% and 3.38% respectively.

Overall, borrowing rates for crypto tokens remained relatively stable on February 18th, 2023. The only token to experience a significant change was DAI, which saw a 0.675747% decrease in the borrowing rate. The other tokens saw minimal changes or no changes at all.

Overnight Lending Activities

This section of the article analyses the lending rates and percentage change in lending rates of the five most popular crypto tokens as of February 18th, 2023 with the highest lending rates.

The highest lending rate of 4.82% was observed for Aave Token (AAVE). This was followed by USD Coin (USDC) at 1.97%, Tether (USDT) at 1.76%, Dai (DAI) at 1.42% and SushiToken (SUSHI) at 0.97%.

The greatest percentage change in lending rate was observed for Dai (DAI) at -0.612219%, followed by Aave Token (AAVE) at 0.500260%, 

Overall, the lending rates for these five tokens were relatively stable. This indicates that the demand for these tokens is relatively steady, with no significant changes in supply or demand.

Overnight Deposit and Withdrawal Activities

On February 18, 2023, the total supply (USD) of various crypto tokens was analysed. The following section provides an overview of the total supply of the crypto tokens in Compound Finance as of 18 Feb 2023, as well as the change in their respective total supply from the day before.

$31M worth of DAI and $1.7M worth of COMP and $59K of UNI were deposited into the Compound protocol on 2023-02-18 as the overall crypto market was trading up on this day.

On the other hand, $25M USDC, 750K ETH and $690K worth of ZRX were withdrawn.