Try Quests to earn cryptoAave and stAave Movements on Ethereum Mainnet
Intro
Aave is a decentralized lending protocol that lets users lend or borrow cryptocurrency without going to a centralized intermediary. Users deposit digital assets into "liquidity pools," which become funds that the protocol can lend out.
About AAVE and stAAVE, AAVE is the Aave platform's native token and stkAAVE is the token stakers on Aave will receive after they stake and delegate their tokens.
Method of Analysis
The intention of this dashboard is to analyze what’s happening to Aave and stAave tokens on Aave protocol. First we get the information about supply and withdrawn of AAVE tokens through aave.ez_deposits and aave.ez_withdraws tables with a simple filter like SYMBOL='AAVE' Then we use the core.ez_token_transfers table to track the amount of AAVE tokens that has been staked and unstaked.
Since the beginning of AAVE activity, 12.2M AAVE tokens deposited as supply to Aave protocol and during this time period 13.6 tokens withdrawn from it. Total number of depositors (aka suppliers) who have deposit these tokens are 6306 users and total number of withdrawers are 4187 users.
Monthly graph of these two actions shows huge amount of activity between Oct 2020 to July 2021. I think If we look for the market condition on these days we’ll find sharp moves of increase and decrease on BTC that most likely will cause users lose financial capital so they deposited more tokens to pervent them from liquidition. Left graph illustrates percentage share of each actions of withdraws and deposits ,From the graph we can see 52.71% share belongs to deposits (aka supplied tokens) and 47.29% belongs to withdraws tokens.
Take a look at the above information about AAVE tokens that have staked and unstaked on/from Aave protocol.
First chart shows one massive and huge amount of stake on Oct 2020 which I think occurred when project launched and attract huge amount of tokens. Beside this one it seems like stake and unstake amount hasn't that much of difference in furture months. Second chart illustrates the number of stakers and unstakers of AAVE tokens over time.
On Oct 2020, more than 5K unique depositors used Aave protocol and stake AAVE tokens on it.
Since the beginning of Aave platform, 24K users staked their AAVE and 12.6K users has been recorded as unstakers on Aave protocol.
Amount of tokens that have staked and unstaked on Aave protocol over this years shows Aave protcol is still popular and receives tokens for stake.
Key Findings
Supplied and Withdrawn:
First months of AAVE launch was the busiest and most active time periods for supply and withdrawn.
Since 2022 and except on spike on January 2023, Number of AAVE suppliers and withdrawers were so much low.
So far number of depositors and supply amount is more than withdrawers and tokens that withdrawn from Aave platform.
Vast majority of supply and withdrawal activity happened on 1 transaction only.
Staked and Unstaked:
According to results volume of AAVE stake and unstake has been decreased constantly for the past couple of months.
Highest peak of stake amount and number of AAVE stakers occurred on October 2020.
So far net volume of AAVE tokens that has been stake on the platform is 1.6M tokens.
Number of unstakers has been almost steady for the past months.\
Distribution of transactions based on AAVE tokens that deposited and extracted to/from Aave protocol can be seen on above graph.
Vast majority of activity on both type of actions are around 1 transaction followed by transactions between 2 to 5.