Method :

1. using Lido, Ankr, ClayStack contracts to find stake and unstake events and volume

   1. Lido : 0x9ee91f9f426fa633d227f7a9b000e28b9dfd8599
   2. ClayStack : 0x91730940dce63a7c0501cedfc31d9c28bcf5f905 - Polygon : 0x376b467dff007dd8d3f24404caddff7f72257fe4
   3. Ankr : 0xcfd4b4bc15c8bf0fd820b0d4558c725727b3ce89 - Polygon : 0x62a509ba95c75cabc7190469025e5abee4eddb2a

2. using ethereum.core.ez_token_transfers and polygon.core.ez_matic_transfers and filter origin_function_signature

   events to calculate stake and unstake and reward distribution volume

   
   
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Analyzed time period: Since the data exists in the flipside database

2.Analysis:

Conclusions :

1. It can be concluded that among the 3 liquid staking platforms for $MATIC, Lido is a better place to stake $MATIC in terms of overall stake volume, APR percentage and TVL volume.

2. The number of staking users in ClayStack is significant, most of them have a desire to stake on polygon, not Ethereum, in general it can be said that if there is a possibility of staking on the polygon blockchain in platforms, users will choose polygon, which can be due to The transaction fee is high in Ethereum.

3. It is clear that users have been more willing to Unstake and reclaim their matics in recent weeks, which could be due to the price drop in the markets.

4. Recently, a significant volume (nearly 27 million) has been staked on Stader in one week.

5. Although Ankr has fewer users, it has an acceptable stake volume, most of which is staked on the Ethereum blockchain.

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1. Lido Staking :

   APR : 6.3% - Blockchains : Stake on Ethereum

   1416 unique users have staked in Lido so far, the total amount of matic staked was 72 million, of which 24.5 million matics were unstaked and 552 thousand matics were distributed as rewards

   Lido's current TVL is 48 million matic, which is a very good statistic for a Liquid Staking platform.

   
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Introduction :

What is liquid staking?

Liquid staking protocols are at the forefront of the cryptocurrency staking economy, revolutionizing liquidity access in the decentralized finance (DeFi) industry.

One of the benefits of liquid staking is the ability to interact and use funds while simultaneously earning rewards. As a result, liquid staking protocols provide the foundations for activities such as lending protocols and yield farming activities.

Therefore, users can interact with numerous DeFi platforms earning multiple rewards from one pool of funds.

Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure. Users can deposit tokens and receive tradable liquid tokens in return. The DAO-controlled smart contract stakes these tokens using elected staking providers. As users funds are controlled by the DAO, staking providers never have direct access to the users' assets.

• How does Lido on Polygon work?

When staking with Lido on Polygon, users receive stMATIC tokens as soon as they submit MATIC. Lido will calculate the current stMATIC/MATIC ratio and send the correct amount to the user. MATIC tokens are then delegated across Polygon validators that are part of Lido on Polygon.

• How does ClayStack on Polygon work?

ClayStack is a decentralized liquid staking protocol that unlocks the liquidity of staked assets in Proof-of-Stake (PoS) networks. Users can deposit tokens in ClayStack’s smart contracts, which issues csTokens that are fully backed and fully fungible. These tokens increase in value as they receive staking rewards from the network.

Users can also utilize these tokens to participate in other DeFi protocols. The combined yield from staking rewards and participating in DeFi compounds over time, increasing yields for the user.

• How does Stader on Polygon work?

  Users will have the ability to stake their MATIC through Stader’s dapp, When a user stakes with Stader, they will mint a new liquid token — MaticX .

  MaticX will be a Token that increases in value relative to Matic as staking rewards accrue.

  When users stake MATIC, they will mint MaticX at the prevailing exchange rate. During an unstake operation, MATIC will be given back to the user at the prevailing exchange rate while the MaticX will be burned.

• How does Ankr on Polygon work?

Polygon Liquid Staking from Ankr Staking offers instant liquidity for your staked MATIC, enabling you to connect your aMATICb/aMATICc tokens with DeFi platforms and earn several more layers of rewards.

1. aMATICb is a reward-earning token, meaning that rewards from MATIC staking will be distributed daily through rebasing and aMATICb holders' balance in their wallet will increase on a daily basis.
2. aMATICc is a reward-bearing token, meaning that the fair value of 1 aMATICc token vs. MATIC increases over time as staking rewards accumulate.

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The weekly chart shows that stake was always higher than unstake.

the highest stack volume was in the week of July 18-25, when more than 12 million matic were staked in one week.

But in recent weeks, the amount of Unstake has slightly exceeded Stake, which can be due to the drop in prices in the market.

2. ClayStack Staking :

   APR : 5.90%   - Blockchains : Stake on Ethereum and Polygon

   8.36K unique users have staked in ClayStack , the total amount of matic staked was 3.86 million, of which 2.7 million matics were unstaked ClayStack’s current TVL is 1.167 million matic.

   The number of users interacting with the platform is stunning, although the stake volume was not high, it is interesting that 7.69K of these users have made a Stake on the Polygon blockchain, which could be due to the high transaction fees of Ethereum.

The weekly chart shows the balance in Stake and Unstake volumes, the highest volume of stakes happened in April where more than 1 million matics were staked per week.

But with the passage of time and in the recent months, it is clear that the interest in staking has decreased and in most weeks the amount of Unstake has been more than Stake.

3. Ankr Staking :

   APR : 5.28%   - Blockchains : Stake on Ethereum and Polygon

   272 unique users have staked in Ankr , the total amount of matic staked was 1.82 million, of which 136.7 million matics were unstaked Ankr current TVL is 1.69 million matic.

   The number of users interacting with the platform is stunning, although the stake volume was not high, it is interesting that 7.69K of these users have made a Stake on the Polygon blockchain, which could be due to the high transaction fees of Ethereum.

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Despite the small number of users, the amount of staked volume is decent, 48 user have staked on the Polygon blockchain and the rest had the desire to stake on Ethereum**.**

The highest staking volume in the week was between December 27th to June 3rd and June 17th to June 24th, when users staked more than 300k matic per week, Unstake volumes were low in all months, indicating that users probably staked their tokens have been spent token on the secondary market.

unstake requests have intensified in recent weeks.

4. Stader Staking

   APR : 5.28%   - Blockchains : Stake on Ethereum and Polygon

   121 unique users have staked in Stader , the total amount of matic staked was 47.3 million, of which 6.86 million matics were unstaked, 141 thousand matics were distributed as rewards

   Stader current TVL is 40.4 million matic.

Stader's weekly chart shows that Stake and Unstke have been balanced for most of the week. But recently, in the week between September 5 and 12, more than 26 million were staked in one week, which is significant. The number of unique daily users was less than 10 on average.

How do people use these "liquid" Derivatives?

It seems that most of the owners of these derivatives end up swapping them matic in in dexs,