What Will You Read?

In this Analysis, You will read about the Total Value Locked in the Opyn. We want to know What is the total value locked in the Opyn Squeeth (osQETH) contract? And where does osqeth draw its value from?

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What is Opyn?

Opyn is a capital efficient DeFi options protocol that allows users to buy, sell, and create options on ERC20s. DeFi users and products rely on Opyn's smart contracts and interface to hedge themselves against DeFi risks or take positions on different cryptocurrencies.

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Method

I Used oSQETH contract address

0xf1B99e3E573A1a9C5E6B2Ce818b617F0E664E86B and found any transfer via this contract in

ethereum.core.fact_token_transfers. Then I calculated the cumulative amount. So I have oSQETH cumulative amount. I multiple to osQETH current price. The final answer is TVL.

The below chart shows the total daily oSQETH amounts.

• From June, The total Daily sQETH increased.
• The highest amount of sQETH was deposited on June 15th.
• The average daily amount until May was under 5K.

The below chart shows the cumulative daily amount of oSQETH.

• There were two points where the cumulative amount increased.
• One Happened on May 9th and the other happened On June 7th which amounts increased significantly.
• The Cumulative amount of oSQETH is 1.29M.

• The total value locked in OPYN Squeeth is 77.4M dollars.

The below chart shows the top 10 holders of oSQETH based on their balance in USD.

• The top wallet holds nearly 1M dollars of oSQETH.
• The second one holds nearly 175K dollars of oSQETH.
• The third one holds 100K dollars of oSQETh.

Conclusion

• We can see more value locked in Opyn in the last month in comparison to other months.
• Almost total value lock increased 50% in the last month.
• It seems more users deposit and hold their oSQETH.