Weekly Highlights with EigenPhi - Week 5, Feb
What you need to know for the past week
🚀EigenPhi Update
HOLD FAST!!! It's Time to Inspect the Sandwich Spillover on BSC Chain.
Last week, we announced the First BSC Sandwich module of DeFi.
The NEW EigenPhi is released and ready to take your data experience to the next level. Any feedback and suggestions are welcome.
We extend our heartfelt gratitude for your support over the past year and look forward to continuing to provide you with the best possible experience. Thank you for your continued support!
📢Keeping UP with EigenPhi
Bonq DAO protocol on Polygon, similar to MakerDAO's lending service, got rekt on Feb 1st, 2023. About $1.2 million worth of stolen assets have been converted. Once again, the protocol’s oracle became the vulnerability. Another example of trying and failing to conquer the Tokenomics Trilemma, which will be illustrated in the following research.
EigenPhi Research and Dr. Chuanwei Zou from Wanxiang Blockchain just released the research about tokenomic trilemma of the blockchain token dynamics. And we analyze why is it difficult for independently issued algorithmic stablecoins to maintain anchorage and avoid entering a death spiral.
The token dynamics of blockchain follow the same theory of a tokenomic trilemma: being difficult simultaneously to achieve three conditions of free tradability, anchored price, and independent issuance.
Current DeFi protocols may not place enough value on liquidity data. There is a real need for detecting risk precursors by monitoring early liquidity anomalies.
The trend of high leverage, liquidity risk, and maturity mismatch issues requires new solutions.
Blaming individuals for the risks in Ankr may be easier, but systemic risks remain unmitigated. The security and robustness cannot be built on the assumption that no one within the system will make a mistake.
2022, the past bleak year, has been one of constant change and challenges, but through it all, EigenPhi has remained dedicated to providing top-quality data and analysis to the community. As we review the standout reports from 2022, you may discover insights and perspectives that shed new light on the constantly evolving world of DeFi.
These 10 reports cover:
MEV’s impact on the Ethereum ecosystem.
Newly emerged risks and attack vectors.
Following up on some of the most concerned events.
📈MEV Market Overview
Performance of MEV
Hot Token & Hot LP
TOP 6 Hot Tokens (by trading volume):
WETH ($2,583,317,710.09)
USDC ($1,921,172,234.31)
USDT ($631,448,106.07)
WBTC ($206,257,400.76)
ACCEL ($157,504,877.76)
DAI ($116,253,775.20)
Hot Liquidity Pools (by trading volume):
High-ROI MEV transaction this week
The sandwich attack reaped a profit of $6,342.70 with an impressive ROI of 231.41%. This bot ranked in the top 3 of the EigenPhi's profit leaderboard, with a total of 1,283 ATTACKS in 7 DAYS yielding a profit of $93,279.88. Keep an eye on this one!
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