Anchor bETH Collateralization

Anchor Borrow is one of the main component of Anchor Protocol. This is where some of the yield that are being used to pay out the Earn rewards come from. On Borrow, users provide PoS assets which are yield-bearing assets to Anchor as collateral. These collateral assets will be bonded (or staked) and collects the staking yields. In this dashboard, we will take a look at users trend on $bETH collateralization for the past 90 days.

Graph below shows the current $bETH balance in the bETH custody and its worth in USD. The balance just reached ATH and worth over 1.4B USD.

Some notable finding is that, many of $bETH providers will only provide $bETH.

For conclusion, raising $bETH LTV can help to raise collateral capital efficiency. This will help to encourage more borrowing and will increase loan revenue. This also will help attract more new users if Anchor can give better LTV compared to other protocols on Ethereum network.

Let's see how much the $bETH providers are borrowing. From scatter plot below, we can see that most of top 100 $bETH provider as of now, are borrowing less that 50% LTV against the provided $bETH. The one with more that 60% LTV means they also provided $bLUNA as collateral.

Graph below shows the daily $bETH provided and providers count. We can see both metrics has an uptrend so this means Anchor became choice for Eth users to park their $ETH.

However, $bLUNA is much more popular as bAssets provided on daily basis as shown in graphs below.

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Anchor bETH Collateralization