Integral Insights: Febraury '25
Mar 5, 2025
Integral Insights: February 2025
Executive Summary
February 2025 proved to be another month of exceptional capital efficiency for Integral, with our passive concentrated liquidity model continuing to demonstrate its effectiveness across both Ethereum and Arbitrum deployments. With a slight decrease in TVL, the protocol facilitated an impressive $167.17M in total trading volume, showcasing our ability to do more with less capital.
Notably, our Arbitrum pools achieved extraordinary capital utilization rates, with the WETH-USDC.e pool reaching an industry-leading 18,851% utilization. This means that for every dollar of capital deployed, the pool facilitated nearly $189 in trading volume — a testament to our innovative oracle-based pricing system and TWAP execution mechanism.
Trading Volume & Protocol Performance
Key Metrics at a Glance
Total Volume: $167.17M
Fees Generated: $19,735
TVL Start: $2.60M
TVL End: $2.28M
Network Distribution
Network | Volume | % of Total |
|---|---|---|
Ethereum | $135.29M | 80.93% |
Arbitrum | $34.85M | 20.85% |
While Ethereum continues to dominate our volume metrics, Arbitrum's performance is particularly impressive given its significantly lower TVL, reflecting the growing adoption of our platform on this scaling solution.
Capital Efficiency Leaders
The following pools demonstrated exceptional capital efficiency this month:
Top 5 Pools by Utilization Rate
Pool | Network | Utilization | Volume | TVL |
|---|---|---|---|---|
WETH-USDC.e | Arbitrum | 18,851% | $9.56M | $50.72K |
WETH-USDC | Arbitrum | 16,121% | $18.02M | $111.80K |
wstETH-WETH | Arbitrum | 11,500% | $2.95M | $25.69K |
WETH-ARB | Arbitrum | 9,785% | $688.38K | $7.04K |
wstETH-WETH | Ethereum | 9,720% | $18.30M | $188.29K |
Top 5 Pools by Trading Volume
Pool | Network | Volume | TVL | Utilization |
|---|---|---|---|---|
WETH-USDT | Ethereum | $46.85M | $482.53K | 9,709% |
USDC-WETH | Ethereum | $28.82M | $658.71K | 4,375% |
WBTC-WETH | Ethereum | $23.68M | $399.08K | 5,935% |
wstETH-WETH | Ethereum | $18.30M | $188.29K | 9,720% |
WETH-USDC | Arbitrum | $18.02M | $111.80K | 16,121% |
Network-Specific Performance
Ethereum Highlights
Active Pools: 5 pools with significant volume
Total Volume: $135.29M
Most Active Pool: WETH-USDT ($46.85M)
Average Utilization (active pools): 7,241%
Arbitrum Highlights
Active Pools: 5 pools with significant volume
Total Volume: $34.85M
Most Active Pool: WETH-USDC ($18.02M)
Average Utilization (active pools): 12,957%
Analysis & Insights
Capital Efficiency at Scale
February's data continues to validate Integral's unique approach to liquidity provision. Our passive concentrated liquidity model, powered by oracle-based pricing and TWAP execution, enables our pools to facilitate trading volumes that far exceed their TVL.
The stark contrast between TVL and volume metrics underscores a key advantage of our design: traders can execute large orders with minimal price impact, while liquidity providers benefit from enhanced capital efficiency.
Arbitrum's Growing Importance
While Ethereum remains our largest market by volume, Arbitrum has emerged as our most capital-efficient network. The five active Arbitrum pools averaged a 12,957% utilization rate, significantly outpacing their Ethereum counterparts.
This trend highlights the increasing importance of Arbitrum in our ecosystem and suggests potential for continued growth as more traders discover our competitive pricing and deep liquidity on this L2 solution.
Liquidity Provider Opportunities
With utilization rates consistently in the thousands of percent across our most active pools, liquidity providers continue to find attractive yield opportunities on Integral. The combination of trading fees and exceptional capital utilization creates compelling returns compared to traditional DeFi alternatives.
Looking Ahead
As we move into March, we remain focused on further optimizing our liquidity provision model and expanding our integration network. The significant trading volume across both networks, despite the modest decrease in TVL, demonstrates the resilience and efficiency of our protocol design.
Liquidity providers looking for capital-efficient opportunities should particularly consider our top-performing Arbitrum pools, which continue to demonstrate extraordinary utilization rates and attractive yields.
Stay connected with us on Twitter and Discord for the latest updates and announcements.
Note: This blog post contains metrics from February 1-28, 2025. All figures are calculated based on on-chain data from Ethereum and Arbitrum subgraphs.