Friktion SOL vs mSOL Volts

Friktion offers an income generating covered call product to users. A covered call option involves holding a long position in a particular asset, for example, SOL, and writing a call option on that same asset with the goal of realizing additional income from the option premium. How much SOL was deposited during the February 4th and February 11th epochs and how many unique users were in the SOL covered call volt? How much mSOL was deposited during those same epochs and how many unique users were in the covered call volt? Why do you think one volt has been gaining more adoption than the other?

Introduction

Friktion is DeFi's first full-stack portfolio manager offering both active and passive portfolio management strategies for DAOs and traditional institutional asset managers. Volts are Friktion's native capital allocation strategies and offer an income generating covered call product to users.

In this dashboard, we will see how much SOL and mSOL have been deposited during the two last epochs (between February 4th and February 11th) as well as how many unique users have been involved on each.

Methodology

To carry out the task, I have taken into account the Solana events involved during the period mentioned above. Then, I have filtered the events for which the mint addresses were 4Hnh1UCC6HLzx9NaGKnTVHR2bANcRrhydumdHCnrT3i2 for SOL covered call and 6UA3yn28XecAHLTwoCtjfzy3WcyQj1x13bxnH8urUiKt for mSOL covered call.

Then, because of we need to get the deposits and users, I have made a sum of all amounts and count the distinct accounts. Finally, I have calculated the metrics by day and the cumulative numbers.

Results

As a results, I have plotted each metric over time and cumulative and I put both calls in the same charts to be able to compare them. I divided the analysis by metrics: Deposits and users.

Regarding deposits, we can see how despite deposits on SOL were higher in the first day, the most of the other days were dominated by mSOL. There were two important days were the amount of mSOL deposits spiked, February 11th when the amounts of SOL also spiked and the last day when the SOL amounts didn't spike. The amount of deposits for these days were more than 1000 mSOL.

Taking a look at the cumulative chart, we can see how the amount of deposits were higher for mSOL rather than SOL. The first onw received almost 3250 mSOL and the other one 867.86 SOL.

In terms of users, we can see how the first epoch involved more users than the other. In this case, we can see how in the major of the cases, more users joined the SOL volt. In fact, taking a look at the cumulative chart, we can see how from the beginning to the end the number of SOL users were higher than the mSOL users.

Conclusion