A short Recap of the recent performance of @abelfinance, one of the Top 2 lending protocols on #Aptos that referenced the implementation of CompoundV2 and AAVE
Let's dive in๐
1. TVL growth
2. $Abel stats
3. Other metrics
twitter.com/abelfinance/status/1627456529908617218
1/ @abelfinance is the First Cross-Chain Lending Platform Build on #Aptos and #Sui, which serves as a DeFi infra for #Aptos ecosystem, accruing liquidity for legos built on top
2/ @abelfinance TVL has surged 100x from $18k to ATH $1.78M within Jan, while $APT was pumping, once outperformed other competitors and won the 1st place in the lending category on #Aptos
3/ Now it contains $721K TVL and settles in the Top 2 position with an unknown 20% drop during 7D
4/ Total Supply is at $1.27M, where the usage ratio is 50% on average
Top 3 popular assets are $ceUSDT, $APT, $ALT
5/ On @abelfinance, users can now supply coins like $ceUSDT $ABEL $CAKE $APT $USDT $USDC to earn high APY, up to 109.07%, where a certain amount of $ABEL emission rewards are also included
$ceUSDT is running juicy
6/ Despite $ABEL rewards for borrowers, the cost of borrowing $ceUSDT $ABEL $CAKE ranges from 24% to 78%, which shows high market demand
7/ @abelfinance completed its IDO on Dec 8, distributing $ABEL tokens at a price range of 0.02-0.06 $APT, equal to ~ $0.1 - $0.24
8/ Then $ABEL was listed on CEX @BitMartExchange @DigiFinex, both of which share half of the trading volume.
$ABEL climbed to ATH $0.3 in late Jan, but declined steadily until now, almost breaking the bottom IDO price at $0.1
9/ @abelfinance is at a very early stage where lots of visions are ahead on the roadmap, such as LP lending, NFT lending, cross-chain lending, and DAO voting with $ABEL
Hopefully, more solid usage would cover the emission cost maintaining the MC above $1.1M and FDV above $11M