Try Quests to earn cryptoHODL or Sell?
Q11. Identify accounts that have staked ETH with Lido when the price of ETH was much higher or much lower than it is now. Have they held or sold their stETH?
Methodology:
Lido is the leading platform for staking ETH. Users can stake ETH and obtain stETH in 1:1 ratio.
After staking and obtaining stETH, users decided to hold these stETH tokens or sale (swap them to ETH) based on the market condition and price of ETH.
This bounty aims to find the behavior of stakers (hold or sale) based on the time of staking and price of ETH.
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ETH price--> flipside_prod_db.ethereum.erc20_balances where CONTRACT_ADDRESS='ETH'
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Staking ETH on Lido--> ethereum_core.fact_event_logs
and contract--> 0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84
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Finding hold or sale--> comparing stake amount of stakers with balance of stETH for them
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balance--> flipside_prod_db.ethereum.erc20_balances where SYMBOL='stETH'
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Due to the harsh condition of market and huge price drops, the investigation period for ETH price considered from start of 2022 to end of April. In this period, the maximum price of ETH happened on 4th of January and the minimum price of ETH happened on January 24.
The overall analysis of staking ETH on Lido and hold or sale behavior of stakers shown in this donut.
As shown, the 59% of stakers hold their stETH and 41% of them swapped to ETH and sold it.
The table in this part shown the users that staked ETH on Lido in the date of highest ETH price. The address and exact amount of staking ETH shown in this table.
The behavior of these stakers from hold or sell points shown in the donut figure. As shown in the donut, 67.9% of stakers hold and rest of them means 92 unique stakers sold their stETH.
The second part presents the behavior of stakers in the lowest price of ETH in 2022. The address and exact amount of staking represented in the table. Based on the donut figure, 219 unique stakers on lowest ETH price hold their stETH means 68% of them. Also, 103 unique stakers fro this day sold their stETH by swapping it to ETH.