Intro

Squeeth offers the same exposure to volatile markets that one could expect from leveraged tokens in other CEX like Binance or Kucoin. But this protocol allows to leverage your own ETH.

Buy Long if u think price is gonna uptrend.

And buy shorts if u think price is gonna downtrend.

Method

To find value locked in Squeeth, Flipside’s Data repository was used.

• To calculate value in and out, effectively looking TVL
  • ethereum.core.ez_eth_transfers table was used

Task

• What is the total value locked in the Opyn Squeeth (osQETH) contract?
• And where does osqeth draw its value from?

Deposits and Withdrawals

Since its beginning, Squeeth has received a constant influx of ETH activity.

• With a “turbulent” year on its back, deposits toward Squeeth has remained constant.
• Reaching high activity startin on May.
• And given the low amount of withdrawals made during this period, Squeeth TVL increased.

A little more clearer

• Squeeth TVL has seen more days in a positive influx of ETH than a massive exodus from its reserves.

• Though in June 20 & 24 there was more than 800 ETH leaving the vaults.

So, TVL

There are currently 13.92k ETH in Squeeth’s Vault.

And where does the Squeeth value derives from?

Squeeth provides more exposition to price movements. Where in a movement you could only increase X in price, now you could increase the exposure while not being in risk of liquidations, unless you opt in on shorts. The other way of gaining exposure to price movements. In were your tokens appreciate in value the more the price falls. BUT, in these possible gambles there is the risk of being liquidated. So invest responsibly