# Weekly Risk Report | January 19, 2025 **URL:** \ **Category:** Risk\ **Tags:** risk, chaos-labs\ **Created:** [January 22, 2025, 2:41am UTC](https://discuss.jup.ag/t/weekly-risk-report-january-19-2025/33276 "2025-01-22T02:41:33Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![chaoslabs](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/chaoslabs/32/4510_2.png) [@chaoslabs](https://discuss.jup.ag/u/chaoslabs)\ **Post date:** [January 22, 2025, 2:41am UTC](https://discuss.jup.ag/t/weekly-risk-report-january-19-2025/33276/1 "2025-01-22T02:41:33Z")
![Chaos Labs Weekly Risk Report | January 19, 2025](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/9/9594dfcbdca80ec38f3eef45ee37fbc1a3431bcf.png) ## Summary - Over the past week, the protocol’s volume increased by 156.23%, averaging $1.6B per day, compared to $641.0M on average in the three weeks prior. - In the same span, SOL’s price increased by 33.71%, ETH’s price increased by 4.86%, and BTC’s price increased by 8.70%. JLP increased by 10.82% vs. the JLP basket’s 17.60%, representing an impermanent loss of 6.78% for LPs relative to the JLP pool’s underlying assets. - Jupiter traders’ aggregate realized PnL increased by $50.8M in gross terms and $33.0M in net terms due to their long-favored exposure. Traders’ cumulative unrealized PnLs, meanwhile, increased by $65.0M this week. ## Protocol Level ### JLP Pool ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/2/2df8e98cd1ec804cd20890750bd847bf17499863.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/f/fe0c12057109644360c8aba02f908a58059b60cd.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/3/36932563590f1b57f15dcb67f362115eceef0fae.png) The JLP pool deposits were volatile this week as LPs fled to $TRUMP and $MELANIA, but this capital has been steadily returning since. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/8/8dff44515ad0446a44ab29fca6ea5d469493f2bd.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/1f3f108f40871730404b00ef487b4869d635ebd8.png) The pool’s composition also hemmed close to target after brief deviations, with utilization rates remaining steady. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/1d4fc39923b4c144fab3f2af960e6c467ef05f91.png) ### JLP Market Comparison JLP’s market price increased by 10.82% over the last week. In the same period, BTC increased by 8.70%, ETH increased by 4.86%, and SOL increased by 33.71%. Given the JLP pool’s weights: - SOL - 47.8% - WBTC - 11.41% - WETH - 10.26% - USDC - 25.97% - USDT - 4.55% JLP’s basket price increased by 17.60%, reflecting an impermanent loss of 6.78% for LPs due to the long-skewed imbalance of open interest. ### Volume Volume increased by 156.23% on Jupiter in the past week compared to previous weeks, averaging $1.6B per day, compared to $641.0M on average in the three weeks prior. BTC’s average daily volume increased by 113.15% over the last week compared to the three weeks prior. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/4/4d4abea6353346470819754813f7e0e2007cd02b.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/d/dae02ead7a26312d0b9ec9e50b7418c7dea7e534.png) SOL continues to be the most dominant market on Jupiter, consisting of 71.73% of the protocol volume in the last week. ### Unique Daily Users Unique daily addresses rallied to a high of 12K and persisted around 6-12K throughout the week, with activity elevated around the $TRUMP launch. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/5a50352cfd71e251fd7a09ff10148e5520ad09b2.png) ### PnL Due to Jupiter traders’ net long exposure, their aggregate realized PnL increased by $50.8M in gross terms and increased by $33.0M after accounting for fees. Traders’ cumulative unrealized PnLs, meanwhile, increased by $65.0M this week. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/a/a4bf4df730bd78b814905399f0188112c64fcc69.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/6/64a56b08ddf02f83227b7eec11b576d0b6ee6693.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/8/863db9f51b89673191c7bc34033486b3174f46fa.png) ### Fees Over the past week, Jupiter’s cumulative fees were ~$15.9M, with a daily average of $2.3M, a increase of 123.40% from $1.0M the previous three weeks. ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/3/3746212b9c8d61c3c8be0378b23292e5ceb9f030.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/7cc05d02cba65fd5b1639e7880d11c14f1742d32.png) ## Market Level ### OI Distribution Jupiter’s traders continue to have a strong bias for long positions. There’s currently no expectation or reason for that to change. **SOL** : ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/75780a879ca428177db4685f00de0759bd5e5a63.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/3/30764c1d2924b15428f844a0e972593e575a051b.png) **BTC** : ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/589df77dbfe6257c3c38009332ad0cdace991b11.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/b/be76f2da3438afeb0dd017aa4f471e2fa92fd034.png) **ETH** : ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/0c21f1985b9d6f7e6f2b9fed014cf96a7a1be662.png) ![](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/d/d0bf95219ba9b1727836b898f9f8506afbd4abcc.png) ---
**Author:** ![Konstantinos](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/konstantinos/32/9632_2.png) [@Konstantinos](https://discuss.jup.ag/u/Konstantinos)\ **Post date:** [January 22, 2025, 8:29am UTC](https://discuss.jup.ag/t/weekly-risk-report-january-19-2025/33276/2 "2025-01-22T08:29:38Z")
Got a little shock when i saw that $JLP fell from $4.9 to $4.3 in minutes. But seems like it recovered well.