[REPORT] eUSD Quarterly Report Q4 2024

[0xTomSawyer]

This report provides an overview of relevant metrics surrounding Electronic Dollar (eUSD) in Q4 of 2024. Taking a look at the governance performance both on the forums and onchain, TVL and other important DeFi metrics, and social media data. The goal being to keep everyone in the community up to date on all things eUSD.

Market Cap and TVL:

Summary: This section looks at the total market cap of eUSD and how it’s split across different networks and accounted for in the Reserve Yield Protocol.

eUSD Total Market Cap: $22.4 Million

eUSD Market Cap Breakdown - https://defillama.com/stablecoin/electronic-usd

• Market Cap on Ethereum: $12.54 Million
• Market Cap on Base: $8.87 Million
• Market Cap on Arbitrum: $1.06 Million
• Staked RSR: 3.1 Billion RSR staked
• eUSD’s Total TVL in the Reserve Protocol(Market cap + Staked RSR): $57.2 Million

Governance:

Summary: This section looks at all the governance proposals both onchain and on the forums.

Vote Outcomes for RFC’s and IP’s

1. [RFC] eUSD Fintech Revenue Share Update 2024-09-30

• 5 total voters
• 1 Yes, 4 No

Outcome: Fintech Revenue Share Update was not brought onchain.

2. [RFC] eUSD Rev Share with RToken Champion

• 17 total voters
• 12 Yes, 5 No

Outcome: eUSD Rev Share with RToken Champion was brought onchain

3. [IP] eUSD Rev Share with RToken Champion

• Quorum: 447M
• Votes For: 942K
• Votes Against: 48M
• 6 total voters
• 2 Yes, 4 No

Outcome: IP was not successful

4. [RFC] Addendum to eUSD Rev Share with RToken Champion

• 15 total voters
• 7 Yes, 8 No

Outcome: Addendum to eUSD Rev Share with RToken Champion was not brought onchain

5. [RFC] eUSD Fintech Revenue Share Update 2024-10-31

• No voters

Outcome: eUSD Fintech Revenue Share Update 2024-10-31 was not brought onchain

6. [RFC] eUSD Rev Share - Finale

• 5 total voters
• 5 yes, 0 No

Outcome: eUSD Rev Share - Finale was brought onchain

7. [IP] eUSD Rev Share - Finale

• Quorum: 426M
• Votes For: 416M
• Votes Against: 1M
• 11 total voters
• 10 Yes, 1 No

Outcome: IP was successful

8. [RFC] eUSD Backing Buffer Change 0.15

• 4 total voters
• 4 yes, 0 No

Outcome: eUSD Backing Buffer Change 0.15 was brought onchain

9. [IP] eUSD Backing Buffer Change 0.15

• Quorum: 394M
• Votes For 528M
• Votes Against 0
• 6 total voters
• 6 Yes, 0 No

Outcome: IP was successful

10. [RFC] eUSD Collateral Basket Change Proposal 3

• 8 total voters
• 6 yes, 2 No

Outcome: eUSD Collateral Basket Change Proposal 3 was brought onchain

11. [IP] eUSD Collateral Basket Change Proposal 3

• Quorum: 394M
• Votes For 523M
• Votes Against 0
• 4 total voters
• 4 Yes, 0 No

Outcome: IP was successful

12. [RFC] eUSD RevShare with Fintech Apps Update 2024-12-01

• 5 total voters
• 5 yes, 0 No

Outcome: eUSD RevShare with Fintech Apps Update 2024-12-01 was brought onchain

13. [IP] eUSD RevShare with Fintech Apps Update 2024-12-01

• Quorum: 407M
• Votes For 396M
• Votes Against 0
• 7 total voters
• 7 Yes, 0 No

DeFi and Onchain Metrics

Transactions on Each Network:

eUSD transactions on Ethereum - 9000

eUSD transactions on Base - 75,890

eUSD transactions on Arbitrum - 12,538

Integrations

Summary: This section looks at the TVL of eUSD in all the different protocols.

Morpho

Gauntlet eUSD Core vault on Ethereum

• TVL: $5.37M
• Number of Holders: 33

Morpho eUSD vault on Base

• TVL: $5.64M
• Number of Holders: 344

Curve

Curve Pools on Ethereum:

TriRSR:
Total Pool TVL: $6.3M
ETH+: 558($1.8M)
RSR: 143M($1.8M)
eUSD: $1.8M

eUSD/USDC:
Total Pool TVL: $6.2M
eUSD: $3.1M
USDC: $3.0M

eUSD+FRAX/USDC (FRAXBP):
Total Pool TVL: $236K
eUSD: $87K
USDC: $19K
FRAX: $130k

Curve Pools on Arbitrum:

eUSD/USDC:
Total Pool TVL: $692K
eUSD: $454K
USDC: $239K

KNOX/eUSD:
Total Pool TVL: $692K
KNOX: $360K
eUSD: $569K

Aerodrome:

Aerodrome Pools on Base:

Concentrated Stable USDC/eUSD:
Total Pool TVL: $4.1M
eUSD: $1.4M
USDC: $2.6M

Basic Stable USDC/eUSD:
Total Pool TVL: $3.3M
eUSD: $1.7M
USDC: $1.6M

Basic Volatile hyUSD/eUSD:
Total Pool TVL: $5.5M
hyUSD: $2.5M
eUSD: $2.7M

Fintech Revenue Share

Summary: In this section we look at what the FinTech Revenue Share percentage is of eUSD and what the projected yearly income is.

Ugly Cash:
Percentage: 4.4%
Approximate Projected Annualized Income: ~$53k

Sentz:
Percentage: 3.4%
Approximate Projected Annualized Income: ~$41k

Social Media

Summary: In this section we look at the surrounding data and important metrics from eUSD’s X account.

X Followers: 343
X Impressions: 50k
X Engagement Rate: 2.4%

Disclaimer: This is everything that happened, a celebration of the community and an invitation to participate in the ongoing success of eUSD. Continue to participate in the gov ops call, continue to participate on the forums and onchain votes. **eUSD is a permissionally governed and decentralized token.

[0xJMG]

This is a well done 1st report!

A few suggestions to increase report utility in the community.

1. Hyperlink to the RFCs so people get to more quickly dabble in the weeds (you are reducing friction).
2. Hyperlink to the Curve pools, Morpho vaults so people can more quickly use them and learn more, and help immediately grow TVL
3. Consider writing a analysis section of “interesting things learned and things to prioritize in next quarter.” Why do this? because it starts a conversation with the community and hopefully provides an invitation for different superpowers to see where they can help contribute. Terrific [place to talk about your comms strategy and request feedback. This is your super-summary and call to action.
4. Request-harvest-extract insights from the Sentz and Ugly Cash teams on whats happening in their worlds and distill it here. They are getting a rev share so them contributing a few sentences a quarter should not be too painful. You are best placed to be the conduit on this fodder and it will further strengthen your own strategies.
5. This report is suddenly the most comprehensive place to get up to speed on the latest happenings with eUSD. It should be promoted across X and Discord, including ideally by the @reserveprotocol account. Take it to the people!

Onward and upward🚀

[socopower]

Hey Tom, GG for this first report, very complete and detailed IMO… The observations are practically the same as those mentioned by @0xJMG, especially emphasizing the placement of the relevant hyperlinks to facilitate the transition of users to the external pages mentioned.

Nice work ser .