Try Quests to earn crypto$MATIC Staking
Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. You can buy or sell MATIC via exchanges like Coinbase.
PROBLEM/CHALLENGES
- The dashboard is aimed at getting the amount of matic token staked since July 1, 2021
- To do this, stake matic token (stmatic) with the contract address 0x9ee91F9f426fA633d227f7a9b000E28b9dfd8599 on the ethereum mainnet is used. A total of approximately 47million of the stmatic token is available for circulation.
- To get the amount of matic staked, data is querried from the flipside velocity app using the fact_transactions table in the core of the ethereum tables.
- Tx_json was used to filter out the required amounts which are all always found at the third log(logs[2]), decoded and values. This deduction was possible with the aid of etherscan.io which gave a comprehensive summary of the transactions.
- daily stake, weekly stake and the average weekly stake values were then computed
- weekly stake ratio was calculated by dividing the weekly amount of matic staked divided by the total matic available for circulation.
- Other metrics like; unique stakers, users with highest and lowest stakes and what users do after staking might be explored to give a richer dashboard.
DAILY STAKED MATIC
This does not show a trend and is just an irregular pattern. But a noticeable spike to 6.7mil was seen on the Jul 23, 2022 which is 3 times more than the normal average daily stake. This brings a question WHY?
To answer the question, a quick research lead to the polygon matic twitter account where an interesting finding was made.
Poltgon matic announced a giant leap forward for Ethereum scaling and ZK innovation on the 20 Jul, 2022. It Introduced Polygon #zkEVM, the first EVM-equivalent ZK L2. To visit tweet click here. Two days later, a surge to 2.03mil stake and optimally 6mil three days after the announcement.
The amount staked in the weekly time on Jul 17 equals 12.34 million, after which it has reached 1.3 million with a big drop on Jul 13.
Total matic staked was 49.3mil
The most amount staked by:
0x59988be6d331e658f79bcf182fbb9b517737c401
The lowest amount staked by:
0x855f9a961fd50adc48b5096fc092ea9ba5aa3a46
On July 18, the matic ratio was the highest value of 0.25, and the dose on August 1 was the lowest value of 0.03.
- Total matic ratio was 1.04