Try Quests to earn cryptoLido Staking
Open Analytics Bounty: ETH (October 16) Date Created: 22/10/2022
INTRODUCTION
Lido is a Liquid Staking platform for Ethereum. It provides the opportunity to anyone to stake ETH without the minimum of 32 ETH of a validator and without setting up any configuration. Lido uses multiple reputable validators with different kind of setups in order to avoid slashing.
How It Works.
When you stake your ETH into the platform Lido gives you stETH for your original ETH at an 1:1 ratio.
Even though you can’t withdraw your ETH right now from the platform (you will when Ethereum completes its upgrade) you can sell the tokens on secondary markets like AAVE.
METHODOLOGY
In this dashboard we will see Lido’s performance and of their users so far. We will include total metrics, weekly metrics, cumulative, top 10 users and distribution of users.
DATA SOURCES: Data were taken by Ethereum.core tables.
On the left we see that a total of 4.3M ETH have been Staked on Lido. This is about $12.5B which is measured at the price when it’s been staked. At the current price of ETH that is about $5.8B. There are 93.5k unique depositors on Lido.
There have been a total of 142k deposits on Lido, each user makes 1.5 deposits on average and they stake 46 ETH on average. (Which is very skewed by the whales) The median amount of ETH deposited is just 0.74 ETH.
On the left we see the weekly amount of ETH Staked on Lido. The majority of the funds were deposited before May 2022 where it had a big increase around Feb - May 2022. In the summer it a was a small flat amount <5k ETH. On September -the month of the merge- it got attraction again and it reached a peak of 33k ETH.
Here we see the USD value of the ETH Deposited on a weekly basis. A noticeable difference from before is on September 2022 with the increase on ETH we don’t see that big of an increase on USD due to low price of ETH <$1.5k as compared to the other highs which indicates that more got Staked even with lower prices (and lower rewards eventually).
On the left we see the number of weekly Deposits on Lido. We note that from May to August even though volume (ETH + $) drops a lot the number of deposits has a smaller decline indicating that across summer while the Merge was on the news constantly only smaller wallets were staking. Probably that’s when they found out about it.
Here we see the weekly unique depositors which after August 2021 increased to >1k have a smaller volatility ranging from 1k to +2k.
Here we see the top 10 wallets by staking amount. The first one is 0x10f37ceb965b477ba09d23ff725e0a0f1cdb83a5 with 200k ETH (~ $260M) while the 10th one is 0x8eaba09bf9865b13eab9632fffb88f46b5c2a7fc with 54k ETH Staked (~ $74M). The spread on the top is not very high and these are either institutional or high net worth investors.
Here we see the top 10 Users by number of Deposits. The first one is 0xf27696c8bca7d54d696189085ae1283f59342fa6 with 2302 deposits while the 10th one is 0xb0fe3d791038f52f369f4ce9eac43a883900f89d with 142 deposits. Quite the difference (x15).
On the left we see the distribution of ETH Deposits. 32% of deposits are 1-10 ETH, 28.4% are<0.1 ETH, 25.8% are 0.1-1 ETH, 11.3% are 10-100 ETH and 2.13% are100-1k ETH.
Here we see the distribution of people who have sold stETH on markets. The chart doesn’t filter out people who buy stETH on markets and sell it again. We see that 36.8% of market share is 1-10 ETH, 24.7% is 10-100 ETH, 18.4% is 0.1-1 ETH. We see that generally more transactions sell higher amounts of ETH (>10).
Total Metrics.
Weekly Metrics.
Top 10 Users
Distributions
- 4.3M ETH have been staked on Lido.
- 93.5k unique depositors.
- Staking volume picked up a little on September but very small compared to the levels pre summer.
- The top wallet has 200k ETH staked.
- The top wallet has made 2302 deposits.
- 54.2% of deposits are <1 ETH.
- 0.37% of deposits (>1k ETH) have total 2.68M ETH.
- Selling has generally higher volume on withdrawals.