What do borrowers do with their loans?

Who is the top borrowers on compound and what did they do with their loans?

https://velocity-app.flipsidecrypto.com/velocity/visuals/fb71f53b-6798-41e3-98e2-8e4ced525e70/8ca76a9d-2dd4-4b23-829c-554daa0efb3a

Top 20 borrowing from compound

We extract the top 20 borrower together with their loans. Top borrowers mostly borrow DAI and USDC as their loans. This is because DAI and USDC is both the stablecoin and easy to be trade on other market and price is less volatile.

https://velocity-app.flipsidecrypto.com/velocity/visuals/fefa73e8-b3c8-4a08-945c-2d1f1fb127bd/f7873d4e-d8c9-4efa-8b60-10ee6f52f362

Top borrower deposit to label

The top deposit to label is to curve finance. This means borrowers supply to curve3crv pool to farm. This match with our result since most of the loans is from USDC and DAI. Next is the aave lending protocol. Top borrowers supply their loans to earn further apy on aave. The third one is binance. Some is borrowing USDC and DAI to be trade on binance to earn further profit.

Source : https://app.flipsidecrypto.com/dashboard/what-top-compound-borrower-do-with-their-borrowing-R4WPl3