messari
Thena - BSC
Review Info
| Description | Info |
|---|---|
| Subgraph Reviewed | https://subgraphs.messari.io/subgraph?endpoint=https://api.thegraph.com/subgraphs/name/harsh9200/thena-fusion-bsc&tab=protocol |
| Schema Version | 3.0.4 |
| Subgraph Version | 1.0.0 |
| Methodology Version | 1.0.0 |
| Evidence Spreadsheet | https://docs.google.com/spreadsheets/d/1YzUpSMJW5Dt6rJpH7l1WHVxu3UCNf2dE/edit?usp=sharing&ouid=104027705798814439445&rtpof=true&sd=true |
Metric to Review
Revenue
- The recent daily total revenue data (as of May 30, 2023) does not align mathematically with the implied revenue calculated from the official website data, showing a significant discrepancy of -54.55%.
- Similarly, the recent daily fees data from Defi Llama also exhibits a notable discrepancy of -50.25%.
As of May 30, 2023
| Subgraph - Daily Total Revenue | Official Website - Daily Total Revenue | Absolute difference | Difference % |
|---|---|---|---|
| 1,507.32 | 3,316.08 | -1,808.76 | -54.55% |
| Subgraph - Daily Total Revenue | Defi Llama - Daily Total Revenue | Absolute difference | Difference % |
|---|---|---|---|
| 1,507.32 | 3,030.00 | -1,522.68 | -50.25% |
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Moreover, the 5-year average daily total revenue data of the subgraph displays a substantial discrepancy of -62.28%, indicating that the subgraph data is incorrect.
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The discrepancy occurs because Messari incorrectly assumes a fixed fee percentage of 0.009% for all pools, failing to account for the dynamic fee structure of Thena Fusion pools. For instance, the official website indicates that the total fee percentage for the USDT/WBNB pool should be 0.0491%, which significantly differs from the displayed 0.009% in the subgraph data. Consequently, the fee percentage varies for each individual pool, resulting in the inconsistency observed in the revenue data.
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Refer to the sheets 'Protocol' and "Pool_vault schema'
Daily Transaction Count
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The number of daily transactions does not necessarily match the total count of deposits, withdrawals, and swaps.
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Refer to the sheet 'Protocol'
Total Pool Count
- The analytics section of Thena Fusion reveals only 40 pools, suggesting that the subgraph data, which includes 87 pools, is inaccurate.
- Refer to the sheet 'Protocol'
Pool section
- The largest pool by TVL, namely the 'WUSDR/USDC' pool, is currently inaccessible in the Pool section due to an error.
- Please refer to the 'Pool_vault schema' sheet
Total Liquidity and Active Liquidity
- The reported total and active liquidity data for each pool/vault are significantly overstated & understated, deviating from the liquidity figures. Furthermore, this inconsistency is not aligned with the overall protocol's reported total and active liquidity data, which indicates a value of zero.
- Please refer to every pool in the Pool section
Events
- Deposit transactions are displayed as withdraw (remove) transactions on the official website/analytics site, and vice versa.
- Please refer to the 'Events' sheet
Positions
- This is not necessarily a data error but when clicking on the addresses under the 'account' and 'hashOpened' columns, it redirects to Etherscan instead of BscScan, which is incorrect for the Thena protocol running on the BNB chain. It should be directed to BscScan instead.
- Please refer to the 'Positions' sheet
Please refer to the attached worksheet for more details.
