Opyn - Total Value Locked

    Q1. What is the total value locked in the Opyn Squeeth (osQETH) contract? And where does osqeth draw its value from?

    Methodology

    First we will look at the total value locked in the Opyn Squeeth (osQETH) contract.

    Then we will look at the total value locked in the SQU / ETH Uniswap V3 Pool.

    Finally we will see where does osqeth draw its value from.

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    The above charts show the total value locked in the Opyn Squeeth (osQETH) contract in USD terms and in ETH terms.

    In USD terms, the TVL reached a peak of ~ $16.9M on 5th April and has been declining since then.

    In ETH terms, the TVL reached a peak of ~ 7258 ETH on 19th June.

    This tells us that the decline in TVL from April 5th onwards is mainly because of the decline in ETH price.

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    The above chart shows the total value locked in the SQU / ETH Uniswap V3 Pool.

    The TVL reached a peak of ~ $16.36 M on 3rd April and has declined significantly since then.

    Summary

    • In USD terms, the TVL in the Opyn Squeeth (osQETH) contract reached a peak of ~ $16.9M on 5th April and has been declining since then.

    • In ETH terms, the TVL in the Opyn Squeeth (osQETH) contract reached a peak of ~ 7258 ETH on 19th June.

    • The decline in TVL from April 5th onwards is mainly because of the decline in ETH price.

    • The TVL in the SQU / ETH Uniswap V3 Pool reached a peak of ~ $16.36 M on 3rd April and has declined significantly since then.

    • oSQTH is the Squeeth ERC20 token and the price reflects the impact of daily funding since the contract was created.

    • oSQTH is the Squeeth ERC20 token and the price reflects the impact of daily funding since the contract was created.

    • Funding rate is the payments made by long Squeeth traders to short Squeeth traders based on the disparity between the Index Price (ETH²) and the Mark Price.

    • The Squeeth index price is ETH²

    • Mark is the current trading price of Squeeth

    osQETH Value