A little bit of chit-chat
Akash Cloud Computing achieved a new daily leasing record on April 4th with 1100, nearly double its previous high and almost ten times the average daily leases for the past three years.
Also, we will be releasing our Q1 2024 State of ZK report in the coming days. If you want to read it first, sign up here.
Numbers from The Lab
PYOR released its Q1 2024 report on Osmosis, revealing some interesting findings. Here are the highlights:
Trading Volume Growth
The first quarter of 2024 saw trading volumes 3.5-4 times those of the same months in 2023.
The first half of March 2024 alone witnessed trading volumes of $1.1 billion, nearly three times March 2023's volume.
User Engagement
January 4, 2024, marked the highest number of active unique users on a single day with over 56,000.
The daily average of unique active users in January 2024 was 36,000, nearly 60% higher than January 2023.
February and the first 15 days of March 2024 maintained high user engagement with 32,000 and 30,000 daily active users, respectively.
New User Growth
Approximately 298,000 unique addresses joined the platform in the past 30 days of Q1 2024, indicating robust platform growth and interest.
Trading Activity Insights
Swaps per user increased notably, with an average of 20 swaps per trader in Q1 2024.
Volume per trader experienced a significant rise, with February 2024 seeing $7.5k volume per trader per day, and March 2024 witnessing volumes over $10k per trader on some days.
Revenue Generation
The first quarter of 2024 is projected to see close to $1.7 million in trading fees, a 12% increase from the previous quarter, highlighting a strong start to the new year.
According to the report, Osmosis ended Q1 2024 on a positive note, with notable growth in all the main usage stats.
Anoma story, uncensored
Welcome, FRAX.
The asset-issuance chain Noble has announced it will start issuing stablecoins FRAX and sFRAX, introducing them to the interchain ecosystem.
Here are some facts about the newly arrived stablecoins:
FRAX is a stablecoin pegged 1:1 to the US dollar, maintaining its value through Algorithmic Market Operations (AMO) contracts and non-custodial subprotocols. Meanwhile, sFRAX is a staked version of FRAX that allows users to lock their FRAX with a staking provider and earn yield exposure on their otherwise idle stablecoins.
FRAX is the eighth-largest stablecoin by market cap, with a valuation of $388.2 million, compared to USDC and DAI, which have market caps of $32.116 billion and $4.881 billion, respectively.
As part of the collaboration, additional Frax Finance tokens, such as the Frax Price Index (FPI) and FraxEther (frxETH), are planned to be integrated into the Cosmos ecosystem in the future.
Wrap Up
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