btc to usd 4

DeFi ecology with exponential growth: the full total variety of users is more than 150000, with the average daily development rate of 0.56%.

Total locked value (TVL) happens to be typically the most popular decentralized financial (DeFi) test indicator, and we can view the relevant monitoring data on industry service systems such as DeFi Pulse. For the DeFi task that has just began and is looking forward to drainage, the full total lock-in value is definitely a good test index of the task. After all, when there is insufficient liquidity, the option of automated market manufacturers such as Uniswap and money agreement systems such as Substance will be greatly reduced.

However, if we go through the total locked value by itself, it isn’t an entire decentralized financial test indicator. Why?

To get started with, the total locked-in value is denominated in US dollars, so this indication can be misleading when ethernet prices fluctuate.

Second, some decentralized financial projects lock security in stable currencies such as ETH and DAI. When the price of ETH falls, as the DAI/ETH price percentage increases, the total locked value of ETH will actually rise; on the contrary, when the price of ETH rises, the total locked value of ETH will fall.

More importantly, there is an open up secret in the DeFi industry: DeFi utilization is basically managed by huge whales, or a small quantity of users control most of DeFi product utilization. For example, the holder of an independent MakerDAO mortgage personal debt position, (CDP) # 3088, has mortgaged 127274 ETH, which is 17 times the security held by the holder of the second major mortgage debts position. On InstaDApp, about 80 % of debris are kept by three users. Actually, in regards to to the extremely unequal distribution of use, we’ve only given two illustrations, and there are a great many other illustrations which have not been shown one at a time the truth is.

The actual fact that DeFi use is managed by giant whales is wii thing, since it means that the full total locked value indicator can be artificially increased with a few “powerful users”. But at the same time, the DeFi ecosystem depends upon large whales because they can offer almost all liquidity and collateral for different tasks, that will, of course, lead to a substantial decrease in the decentralization of DeFi.

Therefore, as well as the total locked-in value indicator, we also have to look for other indications that can better evaluate DeFi adoption, like the final number of users.

Why is the full total variety of users (final number of users) a good DeFi signal? Actually, for days gone by 2 yrs, the industry has been talking about the unanswered question of when and exactly how DeFi can bridge the difference and gain mainstream adoption. It really is believed that a lot of folks have a consensus on the idea of “mainstream adoption”, that is, mainstream adoption should not be dependant on “locking in the full total value of smart agreements exceeding vast amounts of dollars”. In addition, it depends upon “just how many common people are employing such products.” Here, let’s first give a good example of mainstream adoption: for example, the cryptocurrency exchange Coinbase, whose market capitalization has already reached 8 billion US dollars, will not really imply that Coinbase has been used by the mainstream, but another sign, the amount of Coinbase users, has exceeded 30 million, meaning Coinbase has been used by the mainstream.

Next, we will collate the full total amount of users for a few top DeFi tasks, which is dependant on counting the amount of unique addresses for a specific DeFi task, although the amount of unique addresses is not really a perfect indicator of the full total number of users-because many people use multiple addresses, it can at least show a certain degree of evaluation effect. If you think this statistical method is inappropriate, you can give a discount according to what you think is the proportion of repeated users.

In addition, it should be noted that in our analysis, the cumulative data is selected over time, so the amount of data is always increasing. In this case, if you want to analyze the average number of new users per day, you can calculate the first derivative based on the chart data; if you want to analyze the user growth rate, you can calculate the second derivative predicated on the graph data. The relevant data may also be referenced here.

Let’s check out the total amount of users of the top-level DeFi task (by Apr 28, 2020):

Kyber:62264.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

Evaluate based on the address of the initial trader.

Uniswap:51711.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

It really is evaluated based on the unique liquidity source and the address of the investor.

Compound:27644.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

Evaluate against Substance v1 and v2 individual customer and lender addresses.

On May 23, 2019, Compound v2 was released, and on July 24, 2019, DAI loans reached an annual interest rate of nearly 15%.

OpenSea:18575.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

Evaluate according to the unique buyer address and seller address of the irreplaceable token (NFT).

On September 1, 2019, OpenSea began to support the auction of ENS short names of domain with an amount of 3 to 6 characters.

MakerDAO:14793.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

It really is evaluated based on the amount of holders of unique collateralized personal debt positions in single-mortgage and multi-mortgage DAI.

, Coinbase Earn launched the “Generate Dai with Manufacturer” education course on July 26, 2019, due to the fact many Coinbase users have created many small home loan personal debt positions in their Coinbase Finances wallets.

On November 18, 2019, MakerDAO launched multi-mortgage Dai.

Creating a home loan position is totally not the same as using DAI as a medium of exchange, and that means you can see an evergrowing craze in DAI utilization in the graph below.

The amount of separate addresses that keep Dai stable coins as time passes.

InstaDApp:8894.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with an average daily growth rate of 0.56%.

Evaluate according to the address of the InstaDApp separate account.

DYdX:8514.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

Evaluate against the addresses of independent borrowers, lenders, and margin traders of dYdX v1 and v2.

April 17, 2019: dYdX launches v2 independent margin trading.

April 20, 2020: dYdX launches the bitcoin perpetual contract market.

1inch:6399.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

Evaluate according to the address of the 3rd party trader.

Synthetix:5502.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

The information is dependant on the address of most Synths unique traders and the initial seigniorage (minter) address.

Dec 6, 2018: the task brand changed from Havven to Synthetix, and launched man made tokens supported by cryptocurrency.
March 13, 2019: Synthetix changes monetary plan to boost the way to obtain SNX and allocates additional SNX as security.

Aave:4293.
DeFi ecology with exponential development: the full total amount of users is more than 150000, with the average daily development rate of 0.56%.

Evaluate based on the address of the only real borrower, lender and adobe flash lender.

January 8, 2020: the project brand changed from ETHLend to Aave, and launched a money market platform that supports flash lending.

0x:3230.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

It is evaluated according to the unique hanging address and bill address of 0x v3.

On December 2, 2019, 0x launched v3, which is essentially a decentralized exchange liquidity aggregator application program interface, because v1 and v2 are decentralized exchange trading entrustment book agreements, so it is not included in the total user statistics.

Augur:2609.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

Evaluate using the only trader in every forecast markets.

November 6, 2018: there were 3517 ETH bets (almost $720000) on this issue “which aspect of america will control the home of Representatives following the 2018 mid-term elections” on Augur, a forecasting application predicated on Ethernet Square. Against the background of the US mid-term election frenzy, the total amount of bets on Augur reached a record level of nearly $2.1 million.

Nexus Mutual:689.
DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

It is evaluated according to the list price provider, mortgage address and liquidity provider.

On February 14, 2020, the cryptocurrency exchange bZx was attacked, in which the mortgagors who had applied for insurance prior to the first attack on bZx voted. Following the DeFi insurance contract Nexus Shared voted on two promises for the bZx strike, the assessors voted for promises 121 and 152, totaling around 3. 3. Ten thousand dollars, and a fresh intelligence contract promise of just one 1.3 million dollars.

Overview of general situation.
To estimate the full total amount of addresses in the current DeFi market, we summed up the number of unique addresses for all the above projects, and the final physique is: more than 150000 users (155140).

DeFi ecology with exponential growth: the total number of users is more than 150000, with an average daily growth rate of 0.56%.

We found that although the current DeFi market is still very small, the number of DeFi users is still showing an exponential growth pattern. We humans tend to underestimate exponential development, whether it’s infections or total product users. Predicated on the current development rate of DeFi users (0.56% each day), we expect DeFi users to exceed 1 million by March 2021 and 10 million by May 2022.

A common pattern in DeFi projects is that each time a fresh version is released or something is updated, you will notice an enormous leap in the growth rate of new users. In June, Augur will release v2, and Uniswap will release v2 in the next quarter of the season. These upcoming products will probably stimulate another surge in the amount of new users. For all those early DeFi tasks, here’s a little bit of advice: your product is only going to achieve success if one of its features can be used on a sizable scale, as well as your product will accelerate growth-so iterate through your product until users like what you’re building.