Explore Friktion DeFi Options Vaults – BTC Covered Call Volt

The Solana protocol Frikition was founded by young and brilliant engineers Uddav & Alex to help individuals, institutions and DAOs manage their crypto protocols. Friktion’s platform manages crypto assets across market cycles, allowing users to generate and generate volatility yields over time. Designed for both individuals and DAOs,Volts provides sustainable income generation and volatility yields. It is not the largest options protocol on Solana but also the third largest options protocol across all blockchain networks with over $107.83m in total value locked. In of the recent interviews, Uddav said

We want to bring the best of TradFi to DeFi. We want to onboard the next billion users who have no idea what DeFi is and are moving down the risk spectrum and getting traditional products more comfortable with the risks of DeFi and education

If you are new to Options and Covered calls, check this education video by one of the Friktion’s partners

As a part of this post, we will examine the new users who deposited BTC into the Friktion BTC Covered Call Volt since January 28th (Epoch 6).List the top 10 wallets in terms of the amount deposited into this BTC Volt since Epoch 6 and the number of unique wallets that have deposited into it.

As we already know, Friktion is a structured protocol on the Solana network. Friktion is a brand new portfolio management product from DeFi that aims to maximize profits by reducing costs. As a result, users can generate profit by enhancing profitability by using it. It is one of the yield opportunities available to participants who wish to generate income from holding BTC while they hold the Covered Call Volt. According to this graph, there are 168 unique wallets deposited into the BTC Volt system since the 28th of January (Epoch 6).

What about BTC covered call volt deposits? The following chart shows the BTC covered call volt deposits into the Frikition volts starting Jan28th 2022 to Mar 18th 2022. As you see in the charts, 61.9 BTC tokens were deposited on Jan 28th and there we can not see more growth of deposits impressively. There was a maximum BTC Deposits(BTC) of 61.9 observed in January 28, 2022 and a minimum BTC Deposits(BTC) of 0 observed in February 7, 2022.

Here from the below graph we can see the Friktion covered call volt deposits in USD from Jan 28th 2022 to Mar 18th 2022.In the beginning, deposits grew rapidly and gradually declined . If we look at the graph below, we can see a slow improvement of deposits from Mar 11 2022 onward. It demonstrates the improvement in BTC Volt deposits on Friktion. You can also see the user growth on BTC volts during the same period in the charts following this section.

How about the user growth on BTC volt. The following chart shows the first time users depositing BTC tokens to the vault since Jan 28th 2022(epoch 6) . Jan 28th started with attracting 15 users and then on we can see a new users at an impressive pace. On January 28, 2022, there were a maximum of 15 New Users and a minimum of 1 New Users on February 5, 2022 .

On the following graph we can observe the average deposits of BTC tokens on Friktion BTC covered call volt during epoch 6.Initially there are more average deposits than later periods. Again, we can see an increase in deposits on Mar 10th 2022. The average amount of Bitcoin deposits (BTC) decreased by 100% from 4.13 in January 2022 to 0.02 in March 2022.

In the graph below, we can view the amounts deposited in the top 10 wallets since epoch 6. In this top 10 wallets , BTC Deposits (USD) via 5XgStSeDe22PVKojnuHaoboNGiJxgeszhLHsQYAgEBvs wallets represented almost three-quarters (81.09%) of the total.

Volt Popularity On ‘whales’ or Solana wallets?

The below graph shows all of the top 10 wallets since Epoch 6, and the deposited amount in USD is clearly visible there, we can see that there is a great deal of amount deposited with a single wallet, with some amounts reaching 2 million. When we consider that wallet as a whale, the others are average accounts. From the charts above, it is clear that most of these accounts are average Solana accounts, and there are only a few whale accounts on this BTC volt account.

Observations

From the above analysis,

  • There are 168 unique wallets deposited into BTC covered call Volt since Jan 28th 2022 to Mar 18th 2022(Epoch 6).
  • On Jan 28th 2022, we see that a large amount of deposits was deposited, and then gradually that amount was reduced over the next few weeks.
  • The top 10 wallets accounted for almost three-quarters of total BTC transfers (USD) via 5XgStSeDe22PVKojnuHaoboNGiJxgeszhLHsQYAgEBvs wallets.
  • From this list, we can observe that, out of the top 10 wallets, only one contributes more than 81% of deposited funds. If we consider this wallet a whale, the others are average. Therefore, it is evident that most of these accounts are average Solana accounts, and there are only a few whale accounts on this BTC volt account.

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