Try Quests to earn SOLAll metrics of Hubble Protocol
Create a KPI dashboard that shows Hubble metrics such as: daily active users, new users, mint/burn rates, different rates of instructions etc. (anything you find relevant)
Introduction:
Make your crypto work for you with Hubble Protocol.
Hubble is a decentralized finance (DeFi) protocol built on Solana. Hubble's core product is USDH, a decentralized stablecoin that can be borrowed against your crypto assets.
Users can deposit multiple crypto assets like SOL, BTC, ETH, and others, to borrow USDH. In turn, USDH can be used to serve various purposes across Solana DeFi.
Hubble will offer multiple USDH borrowing vaults, with various asset combinations and vault-specific parameters such as Stability Fees and Deposit Caps. USDH borrows are guaranteed by a combination of Hubble's USDH Vault (Stability Vault), and bots that facilitate market-based liquidations.
The USDH that users deposit into the USDH Vault is used to pay off bad loans, while depositors earn a net positive ~10% difference in liquidated assets. In addition, users who deposit USDH in the USDH Vault earn HBB, Hubble's native token.
In the coming phases of development, the protocol will launch various products and services to bring further utility to the platform, and USDH itself.
The HBB Token
Hubble delivers value to its community via HBB staking, allowing users to earn rewards generated by the protocol. In future, HBB will be used as Hubble's governance token, which will empower users to direct protocol decision-making.
Building on top of the borrowing protocol, Hubble will offer unique yield-generating infrastructure, as well as staking mechanisms geared towards adding further value to HBB stakers, while bolstering the value of HBB itself.
Borrowing made easy, cheap, and attractive
SOL, BTC, ETH, etc. holders, motivated to keep the upside to their portfolio, can deposit their assets and borrow USDH to use it across various protocols on Solana. While a user's loan is active, their assets retain full exposure to the market. Upon paying back their debt, users will regain access to their collateral. If the value of their collateral increased while it was deposited, they receive that entire value back upon repaying their debt.
Loans have no fixed maturity, so debt owners can pay back their debt whenever they wish.
Earning yield on collateral
In addition to keeping the upside on collateral, users can earn yield on their deposits. At present, this is facilitated by Hubble's onboarding of yield-bearing collateral. Hubble currently accepts mSOL, stSOL and daoSOL as collateral, with Solend cTokens, stETH, scnSOL, and numerous other yield-bearing assets being onboarded imminently.
In future, users will be able to opt-in to have their collateral allocated to partner protocols to earn yield. Users will have the freedom to choose from multiple yield-earning strategies.
Methodology:
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for finding USDH destination solana.core.fact_transfers have been used and mint='USDH1SM1ojwWUga67PGrgFWUHibbjqMvuMaDkRJTgkX' have been tracked.
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for finding hubble transactions program id 'HubbLeXBb7qyLHt3x7gvYaRrxQmmgExb7fCJgDqFuB6T' have been trackes.
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there are two types of transactions on hubble. first has inner instruction, this transactions are main. second dosent have inner instructions. it seems second type occure because of some errors. we named second as null transactions.
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.after finding hubble transactions we need to decoded them. we seperate null transactions from main transactions by 'INNER_INSTRUCTIONS[0] is not null' command.
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now we have to find actions and sub actions. after exploring log massages we used two below command to find them: SUBSTR(LOG_MESSAGES[1],27,len(LOG_MESSAGES[1])-26) as actoin SUBSTR(LOG_MESSAGES[2],17,len(LOG_MESSAGES[2])-16) as sub_act
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now we have actions and sub actions so gorubed transactions number by actions and sub actions to find number of them.
7.for finding staking and unstaking amount we used below command: INNER_INSTRUCTIONS[0]['instructions'][0]['parsed']['info']['amount']/1e6
> arash atashgahi:
- for recognizing liquidation token we used both sub act and source of transfer sub acts: HarvestLiquidationGains SOL HarvestLiquidationGains BTC HarvestLiquidationGains FTT and ...
sources:
liquidationRewardsVaultSol gbbqSXucKBYcfvaPR2DevzExFpstvE6Ypu1Nfs3HGB1
liquidationRewardsVaultSrm 2hwuFn23CqZdsQ2hCbjRHLuNeHra1zfk6qAurTjEL133
liquidationRewardsVaultEth CyfPwr1uV3pkhQtCdCpLvzzVvAngXYqq4KSAvkVxqhga
liquidationRewardsVaultBtc EQxPELJWp87ziPFm6cnWEqqbGuzwbfbE4ejXgoBKfdJg
liquidationRewardsVaultRay 3aqwFikJ1sLwebd3GDdPxFPnzTaPVEQp9J7R3stNfPHL
liquidationRewardsVaultFtt 77PfF5Nqx8r3ZwLccxhyW9jmEYNLKrYTa4ruB8uAXQSA
liquidationRewardsVaultMsol 5xvgjTUyR5yBEW6oKYTeTd6BaQobGt7ECLPUearAxjBA
> \
- for finding amount of actions we have used below command: INNER_INSTRUCTIONS[0]['instructions'][0]['parsed']['info']['amount'] depond of token this amoubt will divide to 1e6, 1e7 and 1e8
10.for finding deposit collatral tokens we have used token contracts as below:
SOL 68yQyYj4YymoiQ644LVyRdvWLpw9xsjp67kmZhLMGnQp
ETH HWTdcMDUF2UJqmD39dix2ATbKTJYQVhpPyoHgJTthpEz
BTC 4EhioLhAgbX18VGmX5Qf7qBGB7HEDQELcBxEGTk6c38G
SRM 5p8atdH8vX1mKgA38DPCC6tWGuGCiMRmZqFg1KrsECTW
RAY BcmAzZsn6uZL8Hsv4ZWidXFshPS5oSyBXetf2ZD2i5i7
FTT 5EpCf866wXEgPFyTstgmJZJK1TPZJ3d1Jcvi2mT6EXFj
mSOL 9FWk5tni1jv6muvuUeh2JJdcfGcuzShkh2Ashzr6QWch
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repay loan consist of two parts. first tranferring of usdh to a system contract. second burning of usdh. so we can conclude repay loan is burning usdh action.
\
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for finding null transactions below command have used INNER_INSTRUCTIONS[0] is null.
✍️ Section 1: General
The general part consists of :
- The "Number of transactions of the Hubble protocol per day" chart (bar and cumulative chart).
- Action on Hubble protocol (Bar and donate chart)
- Number of transactions per day (Bar and line chart)
- Sub activities on Hobble protocol (Table, donate chart)
- Top 100 USDH destinations (Table, donate & bar chart)
two figure below shows daily hubbleprotocol transactions as we see there are two impulse. first in 30 may 2022 and second on 10 June 2022.by exploring data we found out these transactions related to null transactions. \n three most numbered of tranasctions is respectively stakingstakehbb, \n harvestliquidationgains, and stability provide. \n except null transactions the trend of number of true transactions descend. as we see the number of total true transactions was high at feb 2020. only the trend of collateral Withrow is ascend. \n we see the 100 top usdh destination with their contract addresses. it is mentionable that non of these 100 contract was not in labels table.
✅ Observation:
It becomes clear that the highest number of transactions took place on ==June 10, 2022==.
==June 9, 2022== is the second most important day in terms of "number of transactions".
The third rank is ==May 1, 2022.==
When tracking the cumulative chart, these days show as a sharp jump in this chart.
✅ Observation:
There are 29 separate actions on Hubble the "StakingStakeHbb", "HarvestLiquidationGains", and "StabilityProvide" are the top 3 of them by ==18.2%, 15.5%,== and ==13.9%== of all actions, respectively.
"Sub activities on Hubble protocol" comprise 6 sub-activities that Null whit ==70.9%==, transfer by ==21.9%==, and mintTo by ==4.73%== of all sub-activities has the first to third ranking.
✅ Observation:
Based on our finding “H66xGa3c5wvg5ZGF7RCwskf52iH42C8u8v8TPwQXwc3m“, “CpNGqip6qTSmYEa3ANtPdHUzgD6HSWKeDE8ovNUtQLQy”, and “F1TVmk1LAaVDGDfEFJWfNLCh9wikZxv33e54ZPeRQzEh” are the top 3 of USDH destinations by “==84057866.545983==“, “==51013690.143147==”, and “==45078368.949969==” USDH volume, respectively.
✍️Section 3: liquidation action
The liquidation part consists of the following:
- Number of liquid actions (Table, donate & bar charts)
- Total of liquidation users
- The volume of liquidation per token (Table and bar chart)
- Daily liquid action number (Bar and cumulative charts)
- The daily volume of liquidation (Bar and cumulative charts)
for better comparison we exchange liquidation values to usd dollars based on today token prices: BTC liquidation: 1,482,000 ETH liquidation: 74,400 SOl liquidation: 153,568 MSOL liquidation: 455,600 FTT liquidation:- RAY liquidation:6,350 SRAM liquidation:-
✅ Observation:
Solana with ==32.8 %==, Msol with ==19.8 %==, and ETH with ==12.6%== of liquid actions are the ==top 3== liquid actions.
The total number of liquidation users is ==1410. ==
Msol, RAY, and SRAM are the ==top 3== tokens in an aspect of "Volume of liquidation."
February, May, and June are the three months with the most daily liquid action numbers.
Two spikes (==May 12, 2022, & Aug 17, 2022==) have been observed in the "Daily volume of liquidation."
✅ Observation:
"BwhMSeb1idZdxiqX4AxBDuVH9Z2P9Xq4VdzWbVyjVBSp" is the first-rank USDH provider contract.
Total USDH provides for stability is more than ==49.2 M.==
The total of liquidation users is ==1410.==
Daily USDH providers for stability has downward trending since February 2022 up to this time.
✅ Observation:
"6WXPrjt5MBB5TvRaqrw4oLgPzn5KSW9qvJami1Pcetie", "7aKxZg1aoLuB51JUw7fruF77ts7SWoB7pcLBZKHZMynr", and "7aKxZg1aoLuB51JUw7fruF77ts7SWoB7pcLBZKHZMynr" are the top 3 user with maximum USDH reward
The total number of USDH-rewarded users is ==1980==.
USDH reward volume is more than ==142.7 K==.
✅ Observation:
"BwhMSeb1idZdxiqX4AxBDuVH9Z2P9Xq4VdzWbVyjVBSp", "EJgmk1vLPA7qETqda9giUGT1LnnGQADCSnfYS46dGJ84", and "BCwCpeABMuENfyX8C8dVW24fjByz1ZdoUM7ASYk8BnqE" are the top 3 user or contract with most USDH.
The number of USDH stability withdraw users is ==1883==.
Total USDH stability withdraw is more than ==44 M==.
"BwhMSeb1idZdxiqX4AxBDuVH9Z2P9Xq4VdzWbVyjVBSp", "EJgmk1vLPA7qETqda9giUGT1LnnGQADCSnfYS46dGJ84", and "BCwCpeABMuENfyX8C8dVW24fjByz1ZdoUM7ASYk8BnqE" are the ==top 3== user or contract with most USDH
USDH volume stability withdraw per day has dropped significantly after May 2022!
✍️Section 9: Repay Loan or burn USDH
- Top 10 users with max USDH volume repay the loan.
- User's number of repaid loan actions.
- Total USDH repaid for loan or total USDH burned
- The daily volume of USDH repaid or burned
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repay loan after one repays his loans the usdh repaid will be burned. so we can conclude repay equals to burning. from season 7 we found out stability withdraw equals to mintng usdt. so with subtractiong rewards from burning amount the usdh liquiditation will be found. \n 44M-29.6M= 14.4M is the usdh liquditation.
✅ Observation:
"2XtdpvifqoUh2JLwgVsZyiA7hpXd4EkYzbUgiwmFMK54" ==(17.6 %)==, "BhhA5CSNhzDs4PdtXYqf5sNescn2hUjyNzPGP7bpvuAP" ==(11%)==, and "FxVmMjz8pzZnqqbpdzHitRHZLxaRZm2JLrfkiz6jjYyU" ==(10.4%)== are the ==top 3== account USDH borrower
The total stablecoin borrower account is ==694==.
The total number of stablecoin (USDH) borrower user is ==692==.
The total Borrowed USDH is more than ==16.5 M.==
Daily borrowed USDH dropped after February of 2022 and now is too low! (Lower than ==5000 USDH== daily!)
✅ Observation:
"Bz6zbmbZn2ERVsLq4gUCgqLJCTdWYS1iN59EdSbNoPZv" by ==400000 USDH (28.4%)==, "CvNxc1iJDDSN62Rm2xAwPtxDazFjhoZzdQ74SkTiv7KN" by ==1898843.0604 USDH (13.5%)==, and "BwhMSeb1idZdxiqX4AxBDuVH9Z2P9Xq4VdzWbVyjVBSp" by ==1887436.7928 USDH (13.4 %)== are the top 3 user with max USDH volume repay loan.
The user's number of repaid loan actions is ==1013.==
The total USDH repaid for a loan or total USDH burned is more than ==29.6 M==.
✍️Section 11: clear Liquidation and null actions
In the last section, we investigate the following:
- Clear liquidation gains group by tokens
- Number of actions
- RAY liquidation and clear liquidation
- FTT liquidation and clear liquidation
- ETH liquidation and clear liquidation
- SRAM liquidation and clear liquidation
- BTC liquidation and clear liquidation
clear Liquidation and null actions we have liquidation clear amount. from Session 2 we have deposit liquidation amount so we can find today liquidation tokens by subtracting depositing liquidation from liquidation clear. \n we belive null transactions occured because of some errors. it seems these transactions have occured between jun and may 2022. may be there was a problem on hubbleprotocol on that days. in addition 91 percent of null transactions belong to 0xbba and 0xbc4. this prove our claim.
✅ Observation:
"Null" ranks first in the "clear liquidation gains group by tokens ".
"Custom program error: 0xbba" with more than ==285 K== actions is the first rank in "Number of actions"
All of the
RAY liquidation and clear liquidation
FTT liquidation and clear liquidation
ETH liquidation and clear liquidation
SRAM liquidation and clear liquidation
BTC liquidation and clear liquidation
charts show that number of liquidations had a sharp spike if February of 2022 and then dropped sharply! All of the "Number of clear- liquidation line charts" had a sharp spike on Feb 24, 2022, also.