Solana — liquidation analysis for Saber and daoSOL (MonkeDAO)

Saber is the leading cross-chain stablecoin and wrapped assets exchange on Solana. Simply put, it is something like the Uniswap/Sushiswap in Solana chain. In Saber, users can do swap, deposit and liquidated like in the other DEX platform. This article is going to provide a metric analysis for Saber and one of the liquidation pool — MonkeDAO.

In Solana, users can easily create a liquidity pair with staked SOL, for example, from the MonkeDAO, users can create the DAOPool and then earn the additional yield on Saber.

One sample tx for this type is: 5ptLnEaEAjC45QRKGS8RLDFp3UwdzarWSuN65yT2inV1WuFha7HE8bvREHzs1KTSyrSLRHhJG7darVj6dav4Lrow. Looking at this transaction in the Solscan, there are multiple steps/events during the whole process and the smart contract read, contract interaction is very similar with the Uniswap and SushiSwap.

Here, the important contract address is monKYjV2bHTjbJVWCCcwhxE8C96sdTKR2HUNUHCjh4z, the pool address is the LP pool in Saber for daoSOL and SOL.

Metrics Analysis

Since the start of February, how much liquidity has been deposited in the daoSOL-SOL pool per day?

Since the start of February, every day there are daoSOL and SOL as a pair get deposited into the pool. Extracted that kind of information and plot it to the chart, we can find that the Feb/5th stands out for the daily deposit. For a single day, there are 9,953 SOL get deposited, and the daily average deposited amount is 894 SOL.

How many unique wallets have added liquidity to that pool since February 1st?

Plot it to the chart, the above panel shows the daily unique wallet address and the peak is on Feb/10th and Feb/11st, when there are 685 and 433 unique wallet addresses. The below panel shows the running total unique count of the wallet addresses and until now (Feb/13rd), the total unique wallet address number is 1,199.

Looking both the deposited amount and the unique wallet addresses at the same time with the running total, there are several conclusion we can derive:

• Since launch, there is a whale event happened on Feb/5th, no much unique address added, but huge deposited
• 4 days after the whale events, there are 2 peak days for the unique wallet addresses on Feb/10th and Feb/11th
• The whale event for the huge deposit might lead to this increases of the unique wallets

Thanks Flipside Crypto for providing the data.