Stablecoins

    The growth of non-volatile assets pegged to a fiat currency has been a one of the clear trends in crypto in the last few years. However, during the past days, a big fatal event occurred when Terra UST peg token started to depegging from $1. Many different projects proposed different models to define their own stablecoins. For this Bounty, analyse the stablecoin landscape on Sushiswap, identifying the various tokens available and their main metrics (volume, number of swaps, TVL, and other relevant for you). Argue why any of these stablecoins could succeeded in comparison to UST and why.

    Introduction and methods

    The growth of non-volatile assets pegged to a fiat currency has been a one of the clear trends in crypto in the last few years. However, during the past days, a big fatal event occurred when Terra UST peg token started to depegging from $1.

    In this dashboard we are gonna try to find different types of stablecoins models and we will compare between them analyzing different metrics such as:

    • Number of swaps
    • Number of swappers
    • Swapped volume
    • Longevity
    • Number of pools
    • TVL

    Results

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    In the cases of the number of swaps and swappers, the most popular stablecoins are USDC,USDT and DAI, followed by the UST. THe other stablecoins have lower values.

    In terms of sswapped volume the same occurred. In this case, the most popular is USDC followed by dAI and USDR and sUSD srpassed UST. However, 47% of the total stablecoins volume is in USDC, while around 50% in dAI and USDT.

    In terms of longevity we can see how the major of the pools are older than UST except TUSY and alUSD.

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    USDC, USDT, DAI and sUSD havee concentrated in more pools than UST, being USDC and USDT the most popular pools being in at least 150 pools each.

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    Finally, the TVL is prominent for USC and USDT, but bad for DAI because of looks negative.

    Conclusions

    In conclusion,we have seen the difference between all important stablecoins on Sushiswap against the UST. We have seen how the most concolidated one are USDT and USDC that looking at the results, it seems to have the best mechanism to succeed.

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