$AMPL on Aave Fees & Revenue — The Story So Far
$AMPL has been live on Aave for about three months now, and the fee revenue it has generated for both lenders and the Aave protocol ($AAVE holders) is astronomical.
In fact, no other cryptocurrency comes even close to $AMPL in terms of the fees generated for the amount of liquidity provided.
In the past 90 days, $AMPL has raked in $1.3 million in fee revenue for lenders and the Aave protocol, making it the 4th largest cumulator of fees on Aave!
This is an outstanding accomplishment for 3 reasons:
- There are 31 assets listed on Aave and $AMPL is ranked #4 in terms of fee revenue.
- $AMPL brought in this revenue with very little liquidity — $8M as of late, but <$4M for the first two months (the pool is growing quickly now).
- The first two months were really just a trial period for $AMPL on Aave with a few hiccups. It was only recently that the rates were fixed and the Aave UI bug that was displaying the wrong rates was fixed.
Now, if we take points 2 and 3 into consideration and look at more recent data, we can get a more accurate look into how $AMPL on Aave is really performing (seeing as the pool has had time to mature and work out some of the kinks).
So, taking a look at more recent data from Oct 21 — Oct 27 (when the APY rates and Aave UI was fixed), we get a clear picture of how it's evolving:
As seen in the chart above, $AMPL has cumulated $1.1 million in fee revenue for lenders and the Aave protocol in the past 7 days alone! That’s 10.19% of all the fees generated on Aave in the past 7 days:
And get this — $AMPL brought in all of these fees with just $8 million in liquidity!
It’s truly outstanding when you think about it. I mean, just look at the size of the $USDC, $USDT, and $DAI markets; they’re in the $ Billions:
And yet $USDC only generated $5.5M; $USDT generated $1.9M; and $DAI generated $1.7M in fees…
These Billion $ pools aren’t generating much more than $AMPL’s measly $8 million pool.
In fact, AMPL is currently 0.04% of the TVL on Aave v2, yet it generates 10.19% of protocol revenue. Let that sink in.
Makes you think, doesn’t it?
Just imagine, what would the cumulative fee revenue for lenders and the Aave protocol be if the $AMPL pool was the size of $USDC, $USDT, or $DAI… it’s actually mind-boggling.
Follow me here on Medium and on Twitter for more updates like these. I’ll be tracking $AMPL fee revenue on Aave closely to see how it progresses ;)