The Crypto Credit Crunch

*Information contained within this newsletter is purely our opinion and should not be considered by readers to constitute any form of financial or investment advice. We encourage readers to conduct their own research into any financial product that they are interested in and Greythorn will not incur any liability for potential losses.
Figure 4: TVL across DeFi. Source: DefiLlama 02/07/2022.
Figure 5: % Change in TVL across various blockchains. Source: DefiLlama 02/07/2022.
Figure 6: Uniswap TVL. Source: DefiLlama 02/07/2022.
Figure 7: Pancakeswap TVL. Source: DefiLlama 02/07/2022.
Figure 8: Compound Total Value Locked vs Borrowings. Source: DefiLlama 02/07/2022.
Figure 9: SpookySwap Total Value Locked. Source: DefiLlama 02/07/2022.
Figure 10: Current Fully Diluted Market Capitalisations of several AMM’s comparing their current fees to tokenholders vs 25% of their peak fees. Potential Upside reflects the hypothetical increase in the value of each protocol if the associated governance token were to trade at 10x its ‘25% of Peak Volume’ fees. Source: (SeKe Appendices)

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Greythorn Asset Management

Melbourne-based asset management firm, focused primarily on Tech | Web3 | Crypto | Blockchain | DYOR/NFA. Subscribe to hear our latest industry insights.