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Polygon Shines, Perpetual Protocol’s Growth, and Uniswap Capital Efficiency

May 18, 2021 · 2 min read

By Ashwath Balakrishnan, and Jeremy Ong

Data Digest

  • Polygon continues to grow as BSC stagnates
  • DeFi coins led relief rally
  • Uniswap v2 vs v3 capital efficiency
  • Perpetual Protocol’s massive growth

Key Takeaways

  • Binance Smart Chain is experiencing capital outflow as Polygon’s TVL swells to $15 billion.
  • Price performance for both tokens is tracking capital flows, with BNB experiencing a downturn and MATIC flying.

Key Takeaways

  • The Asia and Europe sessions caused a market bounce, with blue chips like AAVE and SUSHI leading the market.
  • Despite the US session opening with a sell off, these DeFi coins are still up over the past 2 days.

Key Takeaways

  • Uniswap v3’s capital efficiency over v2 is glaringly obvious once we look compare liquidity and trading volume.
  • For every $1 of liquidity, v2 facilitates around $0.2 of volume. On v3, every $1 of liquidity produces between $0.8 and $1.6 of volume.

Key Takeaways

  • Since our DeFi derivatives deep dive, Perpetual Protocol’s volume has boomed to over $300 million a day.
  • With a 0.1% fee, the protocol is earning $300-350k in fees per day. That’s a run rate of $120-130 million per year.

Notable Tweets

Ethereum transaction fees eclipse Bitcoin transaction fees.

China bans Bitcoin again? Nope, it was just a reiteration of an old decision.

TLDR for the Three Arrows Capital Bankless Podcast.

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