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    stETH uses on curve.fi

    This is the analytics of the use of stETH. stETH is a token that denomination of staked ether in Lido, adding the value of initial deposit + staking rewards. stETH tokens are pegged 1:1 to the ETH staked with Lido and can be used as one would use ether, allowing users to earn Eth2 staking rewards whilst benefiting from Defi yields. In this particular analytics, the DeFi instrument to be discussed is curve.fi

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    The following chart below shows the most used transaction on curve.fi according to its usage. The most transaction on curve.fi is AddLiquidity. It is not surprising as majority of crypto holders want to get rewards by providing liquidity.

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    The below chart shows the number of user who provided liquidity by month. The number of users rise and drop each month, may due to the rising gas fee or the users country legal action on cryptocurrency which may incentivize or discentivise cryptocurrency investments

    Overview of stEth uses on curve.fi

    1. Providing StEth in liquidity pool
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    1. Reinvestments transaction put back into LP

    The second use of stETH is using rewards from LP to reinvest in the LP to raise capital position. Although this is not done by the user manually, as it is autocompounded, this mechanism are a significant instrument to attract users to use Lido so that they can make full use and maximize gain from their Ether balance.

    The below chart shows the number of of reinvestment transaction from LP into LP again. the month April shows the highest reinvestment transaction and has been decreasing since then. This may due to regulations crackdown around the world and rising gas fee. Not to mention the rise of new crypto projects may cause user to withdraw from LP to put their money in project they think that have potential.

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    User can collateralize their stETH to track sythetic assets to gain capital without actually having to sell their stETH

    1. stETH as collateral to track securities/markets movements

    In conclusion, the stETH offers a lot of usage. keep in mind the discussed uses are only on curve.fi. There are a lot of other projects and instruments that has offer ways to utilize stETH. With the rising price of ETH and cryptocurrency community, the use of stETH will only grow bigger and so do, Lido