Analytics & Research

Deep dives into DeFi protocols, on-chain analytics, and blockchain insights from the Pangea team.

20 articles found

crvUSD Monetary Policy
•5 min readDeFi

crvUSD Monetary Policy

crvUSD Monetary Policy is changing, but what does it mean for users and system stability? In this article we dive into what the Monetary Policy is, how and why it's changing, and what that means for users and the system. Stability Mechanisms crvUSD is a decentralised CDP stablecoin from @CurveFinance that can be minted against ETH or BTC collateral. That means every 1 crvUSD is backed by more than $1 in crypto collateral. As our research has shown, crvUSD has impressive stability, maintaini

Joe Wait

Scaling YieldBasis to $1bn
•7 min readDeFi

Scaling YieldBasis to $1bn

As @yieldbasis gets ready to scale up to a $1bn credit line from @CurveFinance, we investigate how the dynamics of the crvUSD system have changed. Our findings show that as structural crvUSD flows from YieldBasis grow, the stability of the crvUSD system is becoming tightly coupled to BTC price movements, with impacts on rates for Curve's borrowers. Raising the Cap 72 days since its deployment, YieldBasis has processed over $1bn in volume. Today, founder Michael Egorov raised a new proposal a

Joe Wait

Does YieldBasis hurt the crvUSD peg?
•5 min readDeFi

Does YieldBasis hurt the crvUSD peg?

With @yieldbasis requesting an increased $1bn crvUSD credit line from the @CurveFinance DAO, we investigated crvUSD peg stability before and after the launch of YieldBasis. Our findings show an increase in the volatility and peg deviation of crvUSD since the launch of YieldBasis. Methodology We gathered data on the end of block pool price for four crvUSD pools: * crvUSD<>USDC * crvUSD<>USDT * crvUSD<>PYUSD * crvUSD<>frxUSD These pools were chosen because they are used by the PegKeepers

Joe Wait

YieldBasis Rebalancing Risks
•7 min readDeFi

YieldBasis Rebalancing Risks

Analysis of the Oct-10 flash crash and its impact on YieldBasis LPs, exploring rebalancing mechanics and risks during extreme market conditions.

Joe Wait

Does YieldBasis Benefit Curve?
•15 min readDeFi

Does YieldBasis Benefit Curve?

As YieldBasis prepares to scale with a proposal to raise pool caps, we investigate whether predictions about its beneficial effects for the Curve DAO hold true. In summary, we found: * Every $1 traded on YieldBasis generates at least $1.089 volume on Curve * >88% of this volume was due to crvUSD swaps * YieldBasis has a disproportionate impact in increasing Curve’s market share Introduction YieldBasis is the latest project from Curve founder Michael Egorov, launching on Sep-24. It introd

Joe Wait

Aave's Liquidators
•6 min readDeFi

Aave's Liquidators

Liquidators are one of DeFi's vital organs, ensuring the health of Collateralised Debt Positions (CDP) to prevent lending protocols from accumulating bad debts. In this post we use Pangea's AI and SQL Framework to dive into the data on Aave's liquidators to understand more about their role in DeFi's largest lending protocol. How Liquidations Work In Aave, users supply collateral assets (e.g. WETH) to borrow other tokens (e.g. USDC). Each collateral type has a maximum Loan-to-Value (LTV) ratio

Joe Wait

Under The Microscope - Aave
•10 min readDeFi

Under The Microscope - Aave

JP Morgan Chase, Goldman Sachs, Morgan Stanley, Deutsche Bank, HSBC - these household TradFi names all make the list as being Global Systemically Important Banks (G-SIB). With trillions of dollars of deposits and investments across the globe, these titans of finance underpin the TradFi system, providing the liquidity that drives the global economy and keeps the market moving. When these institutions cough, the market takes notice. With over $39bn in TVL Aave has emerged as DeFi's most systemica

Joe Wait

DeFi Heat Index
•10 min readDeFi

DeFi Heat Index

"If you can't take the heat, get out of the kitchen!" Unlike TradFi where credit risks are often hidden, the unparalleled transparency of DeFi allows us to gain unique insights into real-time market dynamics. Pangea enables this analysis through easy access to usable on-chain data, making it easier than ever to build advanced indicators. In this article, we introduce the DeFi Heat Index, coined by our efforts to make DeFi intelligible to more users. This indicator compares the Aave USDC borrowi

Joe Wait

Vibe coding Aptos spreads with Pangea
•24 min readTutorial

Vibe coding Aptos spreads with Pangea

In this tutorial, I’ll walk you through how I used Pangea and Claude to build an app which calculates depth-of-market (DOM) quotes on Aptos and compares the spread between DEXs in real-time.

Joe Wait

The Hidden Infrastructure Crisis in Blockchain
•7 min readInfrastructure

The Hidden Infrastructure Crisis in Blockchain

The AI Agent Tsunami Is Coming - And The Infrastructure Isn't Ready Picture this: millions of AI agents, each executing hundreds of transactions per day, all hitting blockchain infrastructure simultaneously. This isn't science fiction—it's happening now. The convergence of AI and blockchain is creating an unprecedented surge in automated on-chain activity. Including pre-confirmations, the latest advance in block processing that significantly increases transaction speed and finality - creates th

Maxim Legg

Live Portfolio: Beta
•2 min readProduct

Live Portfolio: Beta

We're excited to announce Live Portfolio, a groundbreaking portfolio tool that delivers instant, accurate wallet data for users. Stay ahead of the curve with immediate updates that keep you informed when blockchain transactions happen. Today we're in beta providing a read-only view of wallet data on Move. Instant Updates Live Portfolio revolutionises the way you interact with blockchain data by providing: * Instant Updates: See your latest token balances and transactions immediately without

Maxim Legg

The Race for AI eXperience
•4 min readAI

The Race for AI eXperience

"Crypto AI agents have taken the starting pistol and put it to their head" In the rapidly evolving world of crypto, a new breed of AI-powered digital assistants has emerged, promising to revolutionise how we interact with DeFi. Yet despite the hype and flashy marketing campaigns touting "AI agents", the reality falls dramatically short of expectations. The race for true AI eXperience (AIX) has begun, but most have stumbled before crossing the starting line. The AIX Paradox Current crypto AI

James Corbett

RPC vs Pangea
•4 min readInfrastructure

RPC vs Pangea

The excitement of speed is like a drug; one can never get enough of it. - Enzo Ferrari As blockchain ecosystems compete for developer attention and user adoption, the infrastructure decisions made by chain ecosystems become critical strategic choices. The quality of developer tooling directly impacts which protocols choose to build on your chain, and ultimately, whether end users embrace these applications. In today's competitive landscape, user experience is the kingmaker and as we've demonstr

Maxim Legg

A Pangea Mobile App
•4 min readProduct

A Pangea Mobile App

Real-time data has never been so easy to integrate and get your hands on. In this article, we share how we built an iOS app with Pangea's real-time data in less than one week! The best part, now you can too!

Jay

What are Bitcoin Runes?
•10 min readEducation

What are Bitcoin Runes?

What are Bitcoin Runes? Let's explore the new protocol enhancing Bitcoin's ecosystem with efficient, scalable fungible tokens.

Jay

What is a blockchain inscription?
•13 min readEducation

What is a blockchain inscription?

What is a blockchain inscription? A blockchain inscription refers to embedding data directly onto a blockchain, ensuring it is immutable, secure, and transparent. This data can range from simple messages to complex digital contracts. Unpack more details in this helpful guide.

Jay

Developing Open Data
•5 min readData

Developing Open Data

If blockchain is to be a truly decentralised technology stack, we need to decentralise the data and make it more accessible. In this article I'm going to show how easy it is to analyse blockchain data with 3 common scenarios of key trading times, MEV and arbitrage.

Joe Wait

Introducing Pangea: The Open Index Protocol
•4 min readProduct

Introducing Pangea: The Open Index Protocol

By collecting and customising data in minutes, Pangea serves as the layer on top of which builders create applications, faster. Today, we introduce Pangea as The Open Index Protocol, setting a new standard for the speed, quality, and delivery of on-chain data. Developers can use Pangea to build applications faster through immediate and personal connection to data, free of centralised intermediaries. The Gatekeeper Problem Most indexes today are closed, siloed, or centralised, which leads t

Maxim LeggJames Corbett