Sushi Extra Yield for Kashi Users

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    Introduction

    Sushi is offering extra incentives for people who are depositing capital for lending on Kashi. The depositor can not only earn APY from lending, but they can also earn extra APY by staking their lending position into an ONSEN farm.

    In this dashboard, we will analyze the behavior of Kashi lenders to find out what percentage of lenders farm their lending position for extra yield, what percentage of Kashi TVL is being farmed, and which farms are the most popular. In the end, we will see if there is a relationship between Kashi farm rewards and TVL for Kashi pools.

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    Most popular farms

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    Method:

    • Kashi contracts/symbols were identified from ethereum.core.dim_contracts by the master contract of Kashi.

    • Lending transactions were identified by Kashi token transfers from null address to lender address.

    • Staking (Farming) transactions were identified by Kashi token transfers from lender address to SushiSwap MasterChef LP Staking Pool.

    • Daily Lend and stake amounts were calculated by Kashi lending tokens from flipside_prod_db.ethereum.erc20_balances table.

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    • Although new lending and staking decreased severely since the beginning of 2022, unsataking hasn’t decreased that severely. In fact, the amount that decreased on January 30th, 2022, was from unstaked lending and caused the percentage of staking to go up.
    • Pools and farms with xSUSHI are the most popular. like xSUSHI/USDC and xSUSHI/DAI.

    Relationship between Kashi farm rewards and TVL for Kashi pools

    The TVL, Rewards and APR were extracted from ONSEN Pool list and being analyzed in excel.

    You can access the excel file here.

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    • We can conclude that TVL has a strong positive correlation with the Sushi reward of the farms and doesn’t have relationship with the APR.

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    Summary

    • Lending and staking transactions decreased severely since the beginning of 2022.
    • Pools and farms with xSUSHI are the most popular
    • TVL has a strong positive correlation with the Sushi reward of the farms

    Unique lenders/stakers and percentage of farmed Kashi TVL for current day: