What is Lido?

Lido is the market leader for Ethereum liquid staking, representing over 80% of market share in that space. Assets staked on Lido are worth over $10 billion USD at today’s prices, and are split across 76,000 individual crypto wallets.

stETH

irstly, it is necessary to explain what is stETH and how this token is related to Lido. stETH is a token that represents the staked Ether in Lido, combining the initial deposit value with rewards. Thus, stETH is a token that allows you to earn DeFi yield rewards. By using Lido to bet their ETH on the Ethereum chain, users will receive the stETH token, which represents their ETH on the Ethereum beacon chain on a 1:1 basis.

Therefore, the first thing to check is the ETH/stETH price parity.

Metrics

This chart represents the total stETH staked in Lido and its cumlative. The graph reveals a high peak in March, particularly on March 15th, when about 191k stETH were staked.

The was biggest stETH staked of all 2022 happened during May 22nd in terms of average staked per day.

Stakers can stake for stETH repeatedly when they buy more ETH to grow their stETH holdings. To avoid double counting unique staking addresses, the staking transactions were aggregated by address.

We chartthe daily number of stakers and new stakers to Lido against the total number of stakers through time in the graph below.

This does not take into account stETH holders who obtained stETH through trading or other reasons.

As the average days staking is highly related to the number of stETH in possesion this metric will be classified into 4 tiers:

• 0 to 10 stETH
• 10 to 100 stETH
• 100 to 1k stETH
• More >1k stETH

Conclusions

We have been able to have a deep view of some o stETH metrics related to LIDO.

Thank you for reading.