Try Quests to earn cryptostETH Use Cases
Exiting Liquid Staking
The chart visualizes the txn volume of using stETH to swap for other asset and swap to get stETH. Beginning Jan 2022, the number of swap transaction shows an increase in the activity for both direcion. This suggests, stETH were used as swap assets to exit their staked ETH position into other assets, mostly WETH. This is convenient compared to navigate to Lido website and claim equivalent amount of ETH, as stETH can be used in swap to get different assets directly.
Provide Liquidity StETH-Weth
The other activity users participated is adding liquidity to stETH-WETH pairs on DEXs to farm yields and collect fees. The chart below visualizes the activity where users add/remove liquidity. The upside of adding liquidity with stETH is user are earning both liquidity rewards AND staking rewards.