# Weekly Risk Report | October 6, 2024 **URL:** \ **Category:** Risk\ **Tags:** risk, chaos-labs\ **Created:** [October 7, 2024, 7:25pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133 "2024-10-07T19:25:00Z")\ **Posts on this page:** 9\ **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:** [October 7, 2024, 7:25pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/1 "2024-10-07T19:25:00Z")
![Jupiter Weekly Risk Report | Sunday, October 6th](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/5498a917b49050f15f7c0fa99e4e54e9d0a49496.png) ## Summary - Over the past week, the protocol’s volume increased by a massive 51.95%, averaging $571.2M per day, compared to $375.9M on average in the three weeks prior. - In the same span, SOL’s price decreased by 7.68%, ETH’s price decreased by 8.20%, and BTC’s price decreased by 4.31%. **JLP decreased by just 1.08% vs. the JLP basket’s 4.82%** , representing an outperformance of 3.74% for LPs relative to the JLP pool’s underlying assets. - Jupiter traders’ aggregate realized PnL decreased by $3.5M in gross terms and decreased by $6.1M in net terms due to their long-favored exposure. Cumulative _unrealized_ PnLs decreased by an additional $1.2M. ## Protocol Level ### JLP Pool ![JLP Pool Asset Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/5477d01a46887c509800e835c2b8b84434e938ab.png) ![Token TVL Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/f/f48ac8a3801a61d7eb2d63b9af4cf31d21a6c65f.png) ![Token Amount](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/59d958543174a256dee5371a5a6d1a1f5d40d0fe.png) The JLP pool grew in nominal terms this week, with SOL, WBTC, WETH, and USDT deposits all rising. SOL remains consistently above target, though only by 1-3 percentage points. ![Liquidity Allocation](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/d/de46c00b2b85bb52ff15ac0d7938300144ede744.png) ![Weightage Breakdown](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/6/6f9a6813fc426c01910a3f15f53e8f57f5d1fa1b.png) ![Utilization Rate Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/7946f60d76d2dd91ed1668cf95905f66112d0545.png) ### JLP Market Comparison JLP’s market price decreased by just 1.08% over the last week. In the same period, BTC decreased by 4.31%, ETH decreased by 8.20%, and SOL decreased by 7.68%. Given the JLP pool’s weights: - SOL - 46.68% - WBTC - 11.1% - WETH - 9.17% - USDC - 24.24% - USDT - 8.8% JLP’s basket price decreased by 4.82%. Jupiter LP token holders therefore outperformed the JLP basket by 3.74% due to the long-skewed imbalance of open interest. ### Volume Volume increased by 51.95% on Jupiter in the past week compared to previous weeks, averaging $571.2M per day, compared to $375.9M on average in the three weeks prior. ![Daily Volume Per Pair](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/2/2da7f3e2362e4a9d869e3347ed0d701c65de7813.png) ![Volume Distribution Last Week Pie](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/e/ef489b154653d97b25ea4bc1568fedbadd3a425f.png) SOL continues to be the most dominant market on Jupiter, consisting of 74.06% of the protocol volume in the last week. BTC continues to grow its share. ### Unique Daily Users Jupiter saw a maximum of ~8,500 unique active users on October 1st, and a typical range of 3,000 - 6,500. ![Unique Users Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/6/626602e29a93f29dce15f1dc44da9960893783c7.png) ### PnL Due to Jupiter traders’ net long exposure, their aggregate realized PnL decreased by $3.5M in gross terms and by $6.1M after fees. Traders’ cumulative unrealized PnLs, meanwhile, decreased by $1.2M this week. ![Traders Cumulative Gross PnL By Market](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/060dc77f8f573760b6dfbd828740ac7dfca4a371.png) ![Traders Cumulative Net PnL By Market](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/e/eb29577d819202703da05973f232e62c209e6457.png) ![Traders Cumulative Unrealized PnL](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/d/d13059d18edde23d73def0fad41e8e257441adb7.png) ### Fees Jupiter’s daily fees peaked on October 1st at more than $1.4M. Over the past week, Jupiter’s total cumulative fees were ~$4.5M, with a daily average of $645.5K, an increase of 28.00% from $504.3K the previous three weeks. ![Daily Fee USD Last 7 Days](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/537a38dd9b58f7837e16f67343163b9174ac7f07.png) ![Cumulative Fee USD Last 7 Days](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/57fc1571bdd7a1487558cf2cdc6d5c1741841891.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: ![SOL Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/775c274fa5d550bc516d9e43691e27824ef8c8b8.png) ![SOL Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/008446ff16aa73b9c030cf01d4ad42e9c41e6b6b.png) BTC: ![WBTC Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/c/ca991f32b2bbcc05ed39d8906cda955110fccc4d.png) ![WBTC Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/4/40963488ccc5474fcd34dc13976b92e889248d14.png) ETH: ![WETH Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/d/df0b945888b936c8ee5ded8524d6609517061bc9.png) ![WETH Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/3/37229bf65887eeadaabe7ebb65414a2649e7bf27.png) ### Price Impact P99 trades have paid 7.87 bps in the SOL market over the last four weeks, while BTC and ETH markets have paid 6.7 and 6.47 bps, respectively. P95 and below pay less than 1 basis point above 6 bps, the base rate, in all markets. SOL: ![SOL Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/9/997a536071bef0ccbf58ca037e72113552f7f0fa.png) BTC: ![WBTC Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/522e5831e11924ef13fae3dabac13de602380b7e.png) ETH: ![WETH Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/2/286a230107a4348ac0ab3861425e769edd28bc7b.png) ---
**Author:** ![Mbolorman](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/mbolorman/32/4735_2.png) [@Mbolorman](https://discuss.jup.ag/u/Mbolorman)\ **Post date:** [October 7, 2024, 8:15pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/2 "2024-10-07T20:15:44Z")
@chaoslabs always consistent. Drops these weekly reviews like magic​:clap:t6:👏🏿 ---
**Author:** ![BAYZWISE](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/bayzwise/32/9162_2.png) [@BAYZWISE](https://discuss.jup.ag/u/BAYZWISE)\ **Post date:** [October 7, 2024, 9:50pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/3 "2024-10-07T21:50:45Z")
The delivery is always top-notch 🤝. Kudos ---
**Author:** ![zenpunkt](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/zenpunkt/32/5354_2.png) [@zenpunkt](https://discuss.jup.ag/u/zenpunkt)\ **Post date:** [October 7, 2024, 9:55pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/4 "2024-10-07T21:55:01Z")
Thanks for the report. Very informative! ---
**Author:** ![Merlin-M-Ostermann](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/merlin-m-ostermann/32/5778_2.png) [@Merlin-M-Ostermann](https://discuss.jup.ag/u/Merlin-M-Ostermann)\ **Post date:** [October 8, 2024, 11:01am UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/5 "2024-10-08T11:01:19Z")
Thank you for the tireless work on these reports! ---
**Author:** ![Delyo](https://avatars.discourse-cdn.com/v4/letter/d/ee59a6/32.png) [@Delyo](https://discuss.jup.ag/u/Delyo)\ **Post date:** [October 10, 2024, 12:20pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/6 "2024-10-10T12:20:43Z")
Can’t appreciate you guys enough on doing that job ! ---
**Author:** ![lastone1](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/lastone1/32/4477_2.png) [@lastone1](https://discuss.jup.ag/u/lastone1)\ **Post date:** [October 13, 2024, 5:22am UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/7 "2024-10-13T05:22:24Z")
> [@chaoslabs](#): > > ### Unique Daily Users > > Jupiter saw a maximum of ~8,500 unique active users on October 1st, and a typical range of 3,000 - 6,500. > > ![Unique Users Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/6/626602e29a93f29dce15f1dc44da9960893783c7.png) What happened at the start of Oct that spiked the users? ---
**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:** [October 14, 2024, 8:14pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/8 "2024-10-14T20:14:08Z")
@lastone1, thanks for the question. On October 1st, there was a broad sell-off of crypto assets, likely in response to the escalating geopolitical conflict. SOL, ETH, and BTC all fell by 3-10% that day. ---
**Author:** ![lastone1](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/lastone1/32/4477_2.png) [@lastone1](https://discuss.jup.ag/u/lastone1)\ **Post date:** [October 19, 2024, 7:49pm UTC](https://discuss.jup.ag/t/weekly-risk-report-october-6-2024/23133/9 "2024-10-19T19:49:45Z")
Makes sense, thx for the reply