Overview

Synthetix platform is a DeFi platform on the Optimism network that has capabilities such as staking and borrowing. The purpose of this dashboard is to examine these two capabilities and provide visualizations of staking and borrowing capabilities.

• staking

Users of this platform can first transfer their SNX tokens to Optimizm network layer 2 and stake it in this platform and receive sUSD synthetic tokens in exchange for SNX tokens. In fact, by staking SNX Token synthetic sUSD is mined, which has the ability to trade on this platform. These users can burn their sUSD tokens whenever they want and withdraw the amount of their staked SNX token.

In the first part of this dashboard, we want to present different visualizations about Mint and Burn sUSD Token, which can be seen below.

• Methodology

  To create visualizations of this section, the optimism.core.fact_event_logs table has been used and with using the SNX contract address which the Mint and Bourne transactions have interacted and using the null address as the recipient and sender of the transaction in Mint and Bourne sections, we reached the following graphs, of course, we also used the contract address of the sUSD token as the contract address column.

conclusion of staking section

sUSD mint: 92M

sUSD burn:71M

Mint about 21 m more than Burn

sUSD minter: 26,700

sUSD withrawer: 19,000

minter about 7500 more than withrawer

sUSD mint tx volume:33,700

sUSD burn txvolume:21,300

mint tx volume about 12,000 more than burn tx volume

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• Borrowing

Synthetix platform has another feature called loan, in which users can bring their ethereums to layer 2 through the Optimism network and deposit it in this platform as a collateral, and in exchange, synthetic tokens sUSD and sETH will be loaned. As we said, these synthetic tokens can be traded on the synthetix platform, and users can trade these assets. In the next part of this dashboard, we will examine this feature and show visualizations of Ethereum deposits and sUSD,sETh borrowings.

• Methodology

  This part of the dashboard is also used from the optimism.core.fact_event_logs table. By using the event name CollateralDeposited, the collateralAmount inputs were found, and by using the null address of the borrowing and repayment items, which are actually Mint and Burn tokens of sUSD and sETH and also by using ORIGIN_FUNCTION_SIGNATURES related to borrowing and repayment and placing the addresses of SUSD and SETH contracts, different visualizations of depositing collateral and loan amounts were presented in different ways, which can be seen below.

conclusion of Borrowing section

• The amount of Ethereum deposits in the ETH deposit section of the Synthetix platform is very impressive, and so far more than 11 million Ethereums have been deposited in this platform.
• The borrowing amount of sUSD is more than the repayment amount of about 120,000 sUSD.
• In other cases, visualizations are indicative of all cases