Try Quests to earn crypto$MATIC Staking
How many $MATIC have been staked since July 1, 2022? What is the staking ratio of $MATIC (amount of $MATIC staked vs circulating $MATIC) during the same time frame?
Method
For solving the questions above i deep dived into ==MATIC staking and unstaking== actions.
I used ==Ethereum.core== database from Flipsidecrypto and this specific table:
==“ethereum.core.ez_token_transfers”==
Then i used “==0x5e3ef299fddf15eaa0432e6e66473ace8c13d908”== contract address for ==Polygon Staking Contract== and ==“0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0”== contract address for ==MATIC token==.
In addition, i used ORIGIN_FUNCTION_SIGNATURE='0x6ab15071' for ==Staking== actions and
ORIGIN_FUNCTION_SIGNATURE='0xc83ec04d' for ==Unstaking== actions.
Also i used Log Scale for some charts to understand the analytics better.
All the data that i analyzed and you are going to watch are from July 1 2022 until now (22 September)
Introduction
What Is MATIC?
MATIC is Polygon's native cryptocurrency. It is an ERC-20 token, a token created on the Ethereum blockchain. This token is used to govern and secure the Polygon network and pay the network's transaction fees.
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What is Staking and how does it work?
What is staking and how does it work?
Staking is when you lock crypto assets for a set period of time to help support the operation of a blockchain. In return for staking your crypto, you earn more cryptocurrency. Many blockchains use a proof of stake consensus mechanism.
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Findings👀
- MATIC experienced its biggest fluctuations in August
- MATIC recorded its highest stake volume on Aug 30th and Aug 25th with a total of 354M MATIC and 290M in USD in just 2 days
- Sep 12th was the lowest MATIC stake volume in past 3 months and the reason is users terrified because of the merge
- After Jul 18th, Number of transactions and stakers dropped with a gentle slope
- Sep 15th(Merge Day), had the lowest daily transactions and stakers and i think users decided to not do anything that day, wait for the ethereum merge and see what happens next
- MATIC recorded 0.863B stake volume in USD and 1.061B stake volume in MATIC in just past 3 months
- A few days before the ethereum merge day number of transactions and stakers started to drop badly
Findings👀
- Lowest Unstake Volume and transactions and unstakers was on Sep 15th because of the ethereum merge people decided to not do anything at all
- July had so many unstake actions
- After mid July, Unstake daily stats started to drop slowly
- So far September wasnt a bad month for MATIC Unstake stats except Sep 15th
- MATIC recorded 357M unstake volume in USD and 468M unstake volume in MATIC in just past 3 months
- Ethereum merge day did a bad effect on unstake overall stats
Conclusion
- Users are staking more than unstaking
- Unstake transactions and unstakers are more than stakers and stake transactions but stake volume and volume in USD are more than unstake volume and volume in USD
- In past 3 months, MATIC recorded ==0.863B== stake volume in USD and ==357M== unstake volume in USD ==(0.413 Unstake/Stake rate)==
- Staking and unstaking stats didnt change that much since July except ethereum merge day
- Sep 15th had the lowest number of both staking and unstaking transactions and also stakers and unstakers
- MATIC had the highest NET Stake on Aug 25 , 30
- Average stake volume was almost 133K in USD and average unstake volume was 630 in USD in past 3 months
- Users preferred to stop doing stake and unstake actions around the ethereum merge day