$AMPL on Aave — Remember Remember the Month of November

  1. $AMPL on Aave Fees & Revenue — The Story So Far
  2. $AMPL is a Revenue-Generating Powerhouse
  3. $AMPL on AAVE = Perpetual Growth for $AMPL Utility & AAVE Revenue
  4. $AMPL will Become the #1 Asset Across Lending Platforms
$AMPL Rebase History — Coin Tools
  • Utilization went from 100% to 80% to 20% to 10% to 5% — declining with each day $AMPL’s price was below target and negatively rebasing.
  • $AMPL went from being the biggest revenue-generating asset on Aave v2 each day for seven days in a row with a peak of $530K (28.7% of total) revenue generated on Nov 9; to becoming an insignificant asset with a minuscule low of $17 (0.010% of total) revenue generated on Nov 19.
Cumulative Aave Fee Revenue (Nov 1 — Nov 30) Source: Token Terminal

Nov 1st — Nov 11th: $AMPL’s Positive Rebase Period

$AMPL Price & Supply (Nov 1 — Nov 30): Ampleforth Dashboard

Nov 12th — 13th: $AMPL’s Neutral Rebase Period

$AMPL Price & Supply (Nov 1 — Nov 30): Ampleforth Dashboard
Aave Fee Revenue on Nov 12 — Source: Token Terminal

Nov 14th — Nov 25th: $AMPL’s Negative Rebase Period

$AMPL Price & Supply (Nov 1 — Nov 30): Ampleforth Dashboard
Aave Fee Revenue on Nov 17 — Source: Token Terminal
Aave Fee Revenue on Nov 25 — Source: Token Terminal

Nov 26th — Nov 30th: $AMPL Back in Positive Rebase Territory

$AMPL Price & Supply (Nov 1 — Nov 30): Ampleforth Dashboard
Aave Fee Revenue on Nov 26 — Source: Token Terminal
  1. Lenders are willing to continue to lend even when they could take their aAMPL out of the pool to receive the full rebase.
  2. Similarly, borrowers are willing to pay high-interest rates for multiple days even though they could borrow just/around the time before rebase.

Conclusion

The month of November was very eventful for the aAMPL pool on Aave.

  • We got to experience how lenders and borrowers react during all three of $AMPL’s cyclical periods.
  • We witnessed lenders earning 180,000% APYs and borrowers earning billions and even trillions of % APYs.
  • We saw the aAMPL pool grow in liquidity from ~$8.0M at the beginning of the month to >$20.0M at its peak — yes I know this liquidity is still relatively small, but it is growing!
  • We saw the aAMPL pool’s generated revenue grow from $2.2M in October to $6.0M in November!
  • We saw $AMPL become the 2nd largest revenue generator on Aave V2 with $6.0M (19.44% of total) revenue generated. And don’t forget, it got to this position with very little liquidity (only $8.0M — $20.0M).
  • And we saw Aave’s protocol-owned $AMPL liquidity grow to become the Aave DAO treasury’s 4th largest holding with 505,543.65 $AMPL worth $686,669 — which is 0.17% of the total $AMPL supply.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store