Flash Bounty: Merge Staking Providers

    Overview


    In this dashboard, I will answer this question from Flipside Crypto:

    Choose 1 liquid staking provider (Ankr / Lido / rocketpool, etc) and answer the following question:

    • How much ETH was staked? 
    • How many unique depositors are there? 
    • What is the avg/median/max/min/distribution of ETH deposits? 
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    Introduction


    The Merge

    • Soon, the current Ethereum Mainnet will merge with the Beacon Chain proof-of-stake system.
    • This will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake.
    • This sets the stage for future scaling upgrades including sharding.
    • The Merge will reduce Ethereum's energy consumption by ~99.95%.[1]

    introduction to Ankr

    • ANKR is the Ankr platform's utility token. ANKR is an ERC-20 and BEP-20 token that can be used in both the Ethereum and BNB Smart Chain ecosystems. The ANKR token has a max supply of 10,000,000,000 and plays a core function in Ankr Protocol’s decentralized infrastructure marketplace:

      1. Ankr Protocol users pay for Premium services with ANKR.

      2. Independent node providers stake ANKR and serve traffic to earn ANKR rewards.

      3. Token holders can stake ANKR to help secure the protocol and share in the rewards.

      4. Pay ANKR for remote access to your own Ankr-run node.

      5. Use ANKR to vote with Ankr's governance mechanism.

        As such, ANKR can be used both as a utility token and a governance token within the Ankr network. ANKR is a payment method for all Ankr products and a crucial part of the Ankr Protocol for users, providers, and stakers. This makes ANKR more similar to PancakeSwap's CAKE than native cryptocurrencies with their own network like BTC or ETH.[2]

    introduction to Rocket pool

    • Rocket Pool is a first of its kind ETH2 Proof of Stake Protocol, designed to be community owned, decentralised, trustless and compatible with staking in Ethereum 2.0. It was first conceived in late 2016 and has since had over 5 successful public betas over the life span of ETH2 development.

      Rocket Pool is designed to cater to two main user groups; those that wish to participate in tokenised staking using rETH (opens new window)using as little as 0.01 ETH and those that wish to stake ETH and run a node in the network to help generate a higher ROI than staking outside of the protocol due to commissions earned.

    • For more information on these two groups that make up the protocol, we'd highly recommend reading article one in our explainer series (opens new window)that goes into great detail on how users can participate, be it via tokenised staking or running a node in the protocol.

      The core premise behind a protocol is to ensure the network is not beholden to any one party. This is a principle directly linked to Ethereum and ETH2 itself, and a mindset used at every stage of the process as Rocket Pool has evolved.

    • Rocket Pool strives to embody the core ethos of Ethereum and DeFi, specifically the non-custodial, trustless nature that allows self-sovereignty to truly thrive.

      This is why creating this base protocol layer for ETH2 staking is so important, especially with the vast majority of players either not having the technical skills to run a node, or the financial capacity to own 32 ETH. [4]

      introduction to Lido \n

    • Lido is the leading liquid staking solution - providing a simple and secure way to earn interest on your digital assets. By staking with Lido your assets remain liquid and can be used across a range of DeFi applications, earning extra yield.

      1. Staking pool. Protocol to manage deposits, staking rewards, and withdrawals. A separate one for every supported network.
      2. st[token]. Unlike staked assets, the Lido st[token] are freely transferable instead of locked as in the case of native staking. Lido lets users operate with staked assets to gain yield on top of yield by leveraging collateral, lending, yield farming, and other kinds of Defi protocols.
      3. DAO. Lido liquid protocols management entity, responsible for picking node operators, configuring the protocol parameters and much more.

      > 📝 To dive into the details of governance design and implementation, proceed to DAO

      1. Node Operators. entities that manage a secure and stable infrastructure for running validator clients for the benefit of the protocols. They’re professional staking providers who can ensure the safety of funds belonging to the protocol users and correctness of validator operations.

      Ethereum is and remains a primary focus of Lido. That’s affected the organisational structure - the governance is implemented through ERC20 LDO token. Currently Lido supports several PoS networks - when staking native assets with Lido, users will receive a st[token], which represents their [token] which represents their deposit and the rewards aggregated over time (penalties too). The following networks are supported:

      > 📝 Protocols on different networks inherit the architecture of their respective networks. This means that the designs of Lido tokens can vary significantly. Also different protocols are maintained by different dev teams [5]

    Method


    To solve this question, I used the ethereum.core.fact_event_logs table for the platforms (ANKR ( stkr) , and Rocket pool),

    and for the Lido platform, I used the ethereum.core.ez_token_transfers table,


    • ==For== ANKR ( stkr) I used contract 0x84db6eE82b7Cf3b47E8F19270abdE5718B936670 and set origin_function_signature to ('0x9fa65c56','0xeb834a2c') I also put this condition: event_inputs:from = origin_to_address
    • ==For Rocket pool==, I used contract 0x4d05e3d48a938db4b7a9a59a802d5b45011bde58 and set origin_function_signature to '0xd0e30db0' I also put this condition: event_inputs:to = ORIGIN_from_ADDRESS
    • ==For Lido==, I used contract 0xae7ab96520de3a18e5e111b5eaab095312d7fe84 and I also put this condition: from_address = '0x0000000000000000000000000000000000000000'
    • To get the distribution, I checked the number of transactions based on the volume of transactions, for example: how many transactions with a volume of 0.1 Ether to 0.3 Ether have been done?
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    Chart & Analysis [1]

    section 1 How much ETH was staked? 

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    observations

    • Stacking on ANKR started on October 9, 2021,On October 9, 2021, the most Ethereum was stacked on this platform. On April 25, 2022, a jump was seen that moved the daily amount of accumulated Ethereum by one step. In July 2022, the Ethereum stack reached its lowest volume in 2022, and on some days, less than 1 Ethereum was stacked.

      \

    • The stack in Lido has been started since November 4, 2020, but a large amount of Ethereum has been stacked in this month, the activity has decreased in the following months. On November 23, 2020, the most Ethereum was stacked on this platform.

      On April 28, 2021, a jump was seen that moved the daily amount of accumulated Ethereum by one step . On March 15, 2022, a bigger jump than before is seen, which has a great impact on the daily amount of Ethereum accumulated.

      Since May 12, 2022, the amount of ETH staked has decreased significantly

      \

    • The stack in Rocket pool started on October 2, 2021, but there was not a large amount of Ethereum stack in this month, the activity started from the next month on November 9, 2021. On June 29, 2022, the most Ethereum was stacked on this platform. In July 2022, the Ethereum stack reached its lowest volume in 2022, and on some days, less than 10 Ethereums were stacked.

      \

    section 2 How many unique depositors are there?

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    observations

    • The number of users on Ankr had a jump on April 21, 2022, but this jump was not long, and in the following month, the number of users returned to the daily number before the jump.
    • The number of users in Lido had a jump on August 14, 2021, February 11, 2022, and May 7, 2022, but this jump was not as long as Ankr, and in the following months, the number of users returned to the daily number before the jump, but with the difference that again However, the number of users of this platform is more than the other two
    • in the Rocket pool , it seems that there were less than 50 depositors on most days, but recently, from August 25, 2022 to today, the number of depositors has increased significantly. The highest number of depositors was on August 26, 2022 with the number of 1772 depositors

    section 3 What is the avg/median/max/min of ETH deposits? 

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    • The average amount of Ethereum deposited by users on Lido is lower than the others, but consider that Lido users are many times more than the other two platforms.
    • Ankr ~ 329 $ETH
    • Lido ~ 31.42 $ETH
    • Rocket pool ~ 1976 $ETH
    • The median of the Lido and Ankr platforms is close to each other, but the Rocket pool is almost a third
    • Ankr ~ 0.93 $ETH
    • Lido ~ 0.9 $ETH
    • Rocket pool ~ 0.29 $ETH
    • But in terms of the lowest deposit, Lido has the lowest deposit. I don't know why this happened with the transaction cost in Ethereum. 😄
    • Ankr ~ 0.46 $ETH
    • Lido ~ 1* 10^-18 $ETH
    • Rocket pool ~ 0.009 $ETH
    • In terms of the largest deposit, Lido is the first. Ankr and Rocket pool have a difference of almost 8 Ethereum
    • Ankr ~ 3.7 $ETH
    • Lido ~ 62k $ETH
    • Rocket pool ~ 11.7 $ETH
    1. Average $ETH Deposit by depositors ( higher to lower)
      • Rocket pool== [ 1976 $ETH ] > Ankr [329 $ETH] > Lido Finance [31.42 $ETH]
    2. Median $ETH Deposit by depositors ( higher to lower)
      • Ankr [0.93 $ETH] > Lido Finance [0.9 $ETH] >Rocket pool== [ 0.29 $ETH ]
    3. Minimum $ETH Deposit by depositors ( higher to lower)
      • Ankr [0.46 $ETH] > Rocket pool== [ 0.009 $ETH ] > Lido Finance [1e-18 $ETH]
    4. Maximum $ETH Deposit by depositors ( higher to lower)
      • Lido Finance [62k $ETH] >Rocket pool== [ 11.7 $ETH ] > Ankr [3.7 $ETH]

    section 3.5 What is the distribution  of ETH deposits? 

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    observations

    • In the ANKR platform, the volume of transactions is mostly below 1 Ethereum, and approximately 58.3% of all transactions are below 1 Ethereum.
      • Transactions of 1 to 10 $ETH account for approximately 32.89% of all transactions
    • In the Lido platform, the volume of transactions is mostly below 1 Ethereum, and approximately 57.21% of all transactions are below 1 Ethereum
      • Transactions of 1 to 10 $ETH account for approximately 29.06% of all transactions
    • In the Rocket pool platform, the volume of transactions is mostly below 1 Ethereum, and approximately 59.99% of all transactions are below 1 Ethereum
      • Transactions of 1 to 10 $ETH account for approximately 20.12% of all transactions

    Conclusions

    1. How much ETH was staked? 

      • Lido ~ 4.17M $ETH
      • Rocket pool ~ 121k $ETH
      • ANKR ~ 3550 $ETH
    2. How many unique depositors are there? 

      • Lido ~ 80.4k
      • Rocket pool ~ 7.78k
      • ANKR ~ 754
    3. What is the avg/median/max/min/distribution of ETH deposits? 

      • Lido avg = 31.42 $ETH median = 0.9 $ETH max = 62k $ETH min = 1e-18 $ETH
      • Rocket pool ~ 7.78k avg = 1976 $ETH median = 0.29 $ETH max = 11.7 $ETH min = 0.009 $ETH
      • ANKR ~ 754 avg = 329 $ETH median = 0.93 $ETH max = 3.7 $ETH min = 0.46 $ETH

      The percentage of transactions between >0 and 1 Ether

      • Rocket pool  (59.99%) ANKR   (58.3%) Lido (57.21%)

      between 1 and 10 Ether

      • Rocket pool  (20.12 %) ANKR   (32.89 %) Lido (29.06 %)

      more then 10 Ether

      • Rocket pool  (19.89%) ANKR   (8.81%) Lido (13.73%) \n

    Contact data


    -> the writer : sajjadsmoke -> discord : smokeyPINE#5567


    Thanks for reading !

    Appendix


    The solution of this question and the queries are completely used from the filipside database

    The construction of the dashboard was also used from the site

    app.flipsidecrypto.com/velocity, which belongs to flipside