Overview of October

Each month we take a look at some Ethereum network metrics to gauge the growth of the network. Some of the metrics will be the same to monitor how they evolve while others will be new or different to capture the newest insights and real-time evolution of Ethereum. October saw record highs of DAI locked in defi applications as well as new highs for the number of contract wallets, publishers using CodeFund’s Ethical Advertising, and users of applications like Brave Browser. All of these signs point towards the continuous adoption of Ethereum and the growth of the crypto ecosystem.

Network

  • 89. Countries running Ethereum nodes.

  • 59. Ethereum nodes being run at universities and colleges.

  • 79.76%. Percent of total 2050 Ethereum supply issued.

  • 256,776. The number of Ethereum addresses that transacted in the past 24hrs.

  • 4.5%. Ethereum's current yearly network issuance

Dapps

  • 2,652. Total decentralized applications built on Ethereum.

  • 57.73k. Transactions of dapp contracts over the past 24 hours.

  • 33,333 ETH. Total ETH earned by Gods Unchained from card sales.

  • 13,225. Amount of smart contracts powering dapps.

  • 8M+. Monthly active users for the Brave Browser.

Defi

  • 25.2M. DAI locked in DeFi applications

  • .01. The beta coefficient for Dai compared to Ethereum.

  • 0.99. The beta coefficient for Ethereum.

  • 84M. Amount of current Dai supply in circulation.

  • 6k+. Contract wallets on Instadapp.

  • 0.06%. Percent of total ETH supply locked in Uniswap.

  • 50.96%. MakerDAO Defi dominance.

  • $89.7M. Locked USD value in Synthetix.

Defi Ecosystem Evolution


[embed]https://www.youtube.com/watch?v=uKOjCtbMY5s[/embed]

The defi ecosystem has exploded, evident from Alethio’s graphic representation of the increasingly interconnected ecosystem. The number of users interacting with more than one defi application is growing quite rapidly. However, as you can tell from the end of the video, there’s still plenty of room for greater user adoption specifically across defi platforms. As defi and open finance continuous to evolve more and more applications will either be interconnected or available under one encompassing wallet or web3 provider.

Snapshot: Where are users borrowing dai from?

Fig. Market Share Percentage of DAI Borrow Volume Across Lending Platforms (Past 6 Months)


Borrowing dai from platforms such as Compound and dYdX overtook lending dai from Maker Vaults in July of 2019. For the past three months, dYdX has consistently overtaken Maker single-handedly for the purposes of borrowing dai. It will be interesting to see how this trend continues, if Compound, NUO, and other platforms will gain more borrowing market share or if Maker will gain control again once it enables multi-collateral vaults.

Developers

  • 1M. Goal established to expand the Ethereum community to 1m developers.

  • 200,360+. Number of active Ethereum developers.

  • 2.4M+. Truffle Suite lifetime downloads.

  • 24,613. Github stars for Ethereum.

  • 318,083. Ethereum Github lines added over the past 3 months

  • $2.5M+. Gitcoin’s gross marketplace value.

Ethereum 2.0

  • 16m. Hard gas limit proposed in EIP 1559 for Eth 1.0 chain.

  • $175K. Grants awarded to projects developing on Ethereum.

  • 9,069,000. Target block number for Ethereum Instanbul upgrade.

Food for Thought

  • 170. Publishers using Codefund for Ethical advertising.

  • 4m+. Uber drivers will be getting a mobile bank account.

  • 65. The exchange rate of 1 Argentine Peso to 1 DAI.

  • $2B. Amount of treasury bills the Fed purchased in Oct.

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