How much money did big players make on Big Data Protocol (BDP)?

Big Data Protocol has become an absolute phenomenal product of the current DeFi, and only such a bull market can achieve such a data volume.

On March 8, according to DeBank data, the total pledged token amount of the DeFi protocol Big Data Protocol, which was launched for 2 days It has exceeded 6.5 billion US dollars, becoming the first place in the total lock-up volume of DeFi projects in one fell swoop.

Big Data Protocol is a protocol that provides a liquid market for data with commercial value, similar to a decentralized The data trading market mainly comes from the 14,141 professional data providers connected to the data platform Amass Insights, which was founded by the co-founder of the project in 2015.

Big Data Protocol can currently mine two types of tokens, namely the platform token BDP and the data token. At present, the annualized rate of mining BDP is basically more than 100%, while the annualized rate of data tokens is higher, reaching more than 3000%.

The participation rate of terror

The participation rate of Big Data Protocol, we can see from the amount of token lockup , such as SUSHI, YFI, and stable coins.

According to the data on Big Data Protocol’s official website, there are currently 34667753.764 SUSHI tokens used for mining in the protocol pieces (approximately 34.67 million pieces). The current total circulation of SUSHI is about 127 million pieces, which means that 27% of SUSHI in circulation are used for mining in this protocol.

Looking at YFI again, the number of YFI in Big Data Protocol reached 5,618, accounting for 15% of its total 30,000. In terms of stablecoins, nearly 1.7% of USDT in circulation and 6.5% of USDC are also pledged for mining in Big Data Protocol.

How many people are playing with the $6.4 billion lockup? According to data from the Ethereum browser, there are currently 3,574 BDP addresses, of which the top 100 addresses hold nearly 94% of the BDP tokens.

On average, each address has to lock 1.7 million US dollars, which shows that the funds of large households have completely raised the average .

How much money did the big family earn?

In the initial stage of the protocol’s launch, it has been revealed that SBF, Shenyu, etc. have participated in the mining of the protocol. Among them, the community broke out that a coin holding address suspected of Alameda Research was mining in BDP. At the time of writing, the address has more than $800 million worth of tokens in Big Data Protocol, and the number of acquired BDPs is about 55,878, worth about $378,879.

In addition, in the WETH+BDP pool, also won 11 bALPHA tokens worth over $100,000.

The community previously speculated that the address of Huang Licheng, founder of Cream.Finance and SWAG.Finance, also participated in BDP mining. An address shows that the current yield is 0.58 bALPHA, worth $5118.

Mining risk

Although it seems that the mining income is very high, there are also users who participate in WETH+ BDP pool mining caused losses.

Because the current BDP / ETH and bALPHA / ETH two mining pools have extremely high returns, they are 3251% and 5525%. Therefore, at the beginning, many users bought a large number of BDP and bALPHA tokens for mining.

According to the BDP price on Uniswap, on March 7, the BDP price peaked at $14, while Then it fell back sharply to around $5.4, a 45% intraday drop.

On the other hand, the price fluctuation of bALPHA is even more exaggerated, falling from the highest point of around US$37,000 to the current US$8,744, an intraday drop of 66%.

The single-day decline of the two coins exceeded 40%, which caused some users who bought bALPHA and BDP for mining to suffer asset losses. Of course, if the APY of mining on this protocol continues to remain high, users who bought the two tokens at a high price before still have a chance to recover their losses.

However, Rhythm BlockBeats reminds users that liquidity mining itself is a It is a risky investment. According to the current gas fee calculation, participating in mining requires at least 20-100 USD in handling fees. In addition, the price of the token itself fluctuates greatly, please comprehensively consider your own anti-risk ability and rate of return, and do not blindly follow the trend to guard against asset losses.

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