Open markoinether opened 1 year ago
I totally missed this @markoinether . Sorry. Regardless, still hunkered down in the current dev cycle, when we get back to the roadmap I'll make sure to discuss and evaluate this with the team. Thanks for the suggestion!
@alextes I'll be really happy to pick this up. Let me know if I can, thanks :)
@ameya-deshmukh I think this one would need more design thinking but would you be interested in contributing to another widget?
For example I've been wanting a better accounting of how much ETH is in DeFi. Maybe using DefiLlama, would you be interested in helping with that? It would require some Rust backend work.
If you prefer TypeScript frontend we have this design which needs implementation:
lmk, and let's continue in a separate issue!
@alextes For sure! Keen on both issues but more excited about the ETH accounting in DeFi one! Can you open a separate issue please? LFG!
@ameya-deshmukh #274
Rationale
A money metric frequently used in trad finance regarding currency. Gives good indicator about the relative change in economic activity across time.
General formula
V = Velocity of money GDP = total value of economic transactions M1 = Monetary Base
$V = \frac {GDP}{M1}$
Eth relevant inputs
Velocity The idea here, is to include all transfers of eth in Ethereum economy, this formula should cover it:
$GDP_{eth}$ = eth_pure_transfers + tx_msg.value + weth.transfer + weth.transferFrom
NOTE: This does not include L2s + sidechains
M1 - coins and currency in circulation
M1 should include coins and currency in circulation. "in circulation" could be debatable. To be consistant with other graph we could use the liquid ETH from "scarcity" widget
Thus:
M1 = totalSupply - ("staking" +"defi (stale)" + "burn")
Resources
velocity Money supply