Screenshots from Websites were taken in December 23, 2022. All the Data is from November 1, 2022 Onwards

Methodology at the bottom== and the ==summary of all protocols also in the bottom== if you want the tl;dr from my investigation

Because of the Amount of Charts is big, some browsers such as Chrome, will take a long time (or never) to load all the data, i recommend to change the browser for other options such as mozilla firefox (it loads entirely, after 2-4 mins).

Liquidity Staking Protocol Tokens in Solana

The main goal of this dashboard is to show the popular Liquidity Staking protocols in Solana

And help the new users in Solana to decide where to stake their SOL, based on their project stake activity and their staked token swap activity. The Following SOL Staked Tokens are included (in Order):

• bSOL BlazeStake Staked Sol.
• daoSOL DAOpool Staked Sol of MonkeDAO.
• eSOL Eversol Staked Sol.
• JSOL JPOOL Staked Sol.
• stSOL Lido Staked Sol.
• mSOL Marinade Staked Sol.
• scnSOL Socean Staked Sol.

Each One of these tokens will have the respective explanation and useful links later.

Methodology - Personal Thoughts.

Using Flipside Tables solana.core.fact_swaps for Swap Activity, and solana.core.fact_stake_pool_actions for stake activity i used also the solana.core.dim_labels to label the assets:

Considering only Succeeded = True and block_timestamp>= ‘2022-11-01’ transactions.

• Swaps: Because is impossible to label the TO/FROM Assets at the same time (without using too much ctes) i decided to create 2 queries:
  • First i filter by Swap_From_Mint -- Swap_TO_Mint using the Address of the Staked Sol Token, and then i join the label table to identify the rest of assets being swapped from/to using the Sol Staked Token, and thanks to one of the pair being always the same i can create the Pair using this ‘Staked Sol Token‘ + ‘ ↔ ‘ + address_name , finally i need to count (distinct tx_id) for unique Swaps, count (distinct Swappers) for unique Swappers and SUM (Amount from Sol Staked Token Only) to get the Amount.
    • For the DEX i used Case to group their differents programs in their respective DEX protocol.
  • Second, to get the daily activity i consider their DEX only and filter the swaps using (swap_from_mint or swap_to_mint) = Staked Sol Token Address , finally count (distinct tx_id) for the unique Swaps.
  • Last i got the total metrics forking the Daily Activity for Swappers and Swaps, and forking the TO/FROM queries to get the total Token Amount.
• Stakes: Most of the Protocols only have Action ilike ‘%deposit%’ as Stakes and Action ilike ‘%withdraw%’ as unstakes, Marinade is the only with unstakes having action = ‘Claim’ with the amount and action ‘order_unstake’ for the delayed unstake activity.
  • I filter using stake_pool = address of the stake pool and then count(distinct tx_id) to get the unique transactions, count(distinct address) to get the unique users and sum(amount/pow(10,9)) to get the $SOL Amount with the Decimal correction applied.
  • I created 2 queries, one with the daily activity and other without the date aggregation for the total metrics.

My original idea was to include all tokens with SOL in their name, but because i was already having a long dashboard, i decided to only include staked sol tokens with their activity in both swaps and Stake tables, although i’m very happy with my results because most of my motivation to create this dashboard was to known my options to stake my $SOL.

I hope you can learn more about the Solana Ecosystem with this dashboard.

Swaps Using $eSOL to Swap From. $eSOL → X

Summary - Final Thoughts on the Projects

After seeing all the Liquidity Staking Protocols in Solana we can group them on three Tiers.

• High Activity Tier: Here we have Lido and Marinade Finance, both Protocols have more than 100 LPs with their Staked Sol Token, they were the ones losing the biggest amount of $SOL, but their Stake/Swap Activity is the highest.
  • Marinade: It’s seems that their Unstake Volume is lower by far than Lido, but this is because their Unstake Now Transactions aren’t recorded in the Stakes Table, The amount of Swaps is the second highest in total ==but if we count only December Swaps is at First place then. And one of the advantages this protocol have against ==Lido is their Social Media channels, the Website is really attractive and their ==Official twitter is daily posting.
  • Lido: Although the volume of Unstake is the highest ==they also have the highest Stake Volume in the time period recorded, in the latest weeks of December Lido have the highest amount of Stakes of all Protocols, and also has a High Swap Activity but most of the Swaps are from the FTX Crash, in December the daily swaps are lower than ==Marinade== but still are bigger than other Protocols, The release of the v2 Update sparked the stake activity, but i think their Lido Solana Twitter needs to be more active.
• Medium Activity Tier: Here we have Socean, MonkeDAO DAOpool and JPool. These protocols presents a Swap Activity between 5,000 to 10,000 total Swaps, and also have an important flow of $SOL.
  • Jpool: This Protocol is the one which lost most $SOL in Unstakes from this tier, their Stake Activity isn’t the greatest but at least ==their Sol Staked Token presents double digits Swaps every day,== most of the total activity is concentrated during the FTX Crash, and the amount of $SOL lost in Unstakes is really high than the amount of Stakes. Their twitter isn’t daily active and their Website UI could improve.
  • Socean: Although this protocol doesn’t lost a big amount of $SOL as Jpool in the FTX Crash, ==more than 50% of their Unstake Volume has been recovered in Stakes==, it’s seems that Socean have a bigger Stake activity than Jpool with recent spikes in the last week== and there are ==some days of december with swap activity reaching the 3 digits, they could update their Roadmap and have more Activity on their twitter to have a better reach but overall of the 3 protocols in this tier is doing the best (in Stake/Swap Activity on December).
  • MonkeDAO DAOpool: This Protocol ==have the second Lowest amount of $SOL Staked, it has recovered only a 6% of the total Unstake Volume Lost in the FTX Crash, their LPs presented daily activity of 3 digits Swaps but on the last days this amount of swaps has gone from 2 digits to single digits, because most of the reach from this Protocol comes from their NFT Activity, the CryptoWinter has been affecting this DAO a lot, Their Social Media Channels present daily activity and events concetrated on their NFTs only, updating the Roadmap for their DAOpool could improve the Stake Pool Activity.
• Lowest Activity Tier: Is easily to identify StakeBlaze as a small project compared against the rest, but in the case of Eversol i decided to include this Protocol here because it was the most affected in activity after the crash, having the lowest activity from all the protocols in the Medium Tier, so for that reason i included this project here.
  • StakeBlaze: Surprisingly this is the only Protocol with a positive Net Flow of $SOL, the FTX Crash also affected this project with a notable $SOL unstake Volume, but days after a bigger Stake was placed on this Project, raising their activity. The main problem of this protocol is that their swap activity is the lowest of all, almost reaching 200 swaps in total, although most of the swap activity is concetrated in December, and presents a daily Stake activity, the biggest potential for this project are, a detailed Roadmap including the creation of a DAO and an airdrop system, and their twitter having a high daily activity posting/retweeting all the news about the Solana Ecosystem and a clean UI on their website.
  • Eversol: This is the protocol most affected by the FTX Crash, losing a lot of their Activity and having the lowest amount of $SOL Staked reaching only a 9% of the total Unstake Volume lost in the FTX Crash, their Stake activity and Stake Volume is lower than StakeBlaze, and having the big time periods without Swaps/Stake of all the Protocols, their December activity is the lowest of all the projects and although they have a roadmap for 2022 Q3&Q4 their Twitter activity is lower than StakeBlaze, so they need to improve their reach!, and fixing the UI of their website can help too.

This Dashboard have an intense amount of information but i hope it can help you to find your ideal Protocol to Stake your $SOL, and if you’re looking to provide liquidity Jupiter LPs of Sol-Staked Sol Token is the safest Option, USDC-Staked Sol Token is the High risk Pool having the most amount of Swaps overall.

Dashboard Made by Popex404, Twitter Link Here

What is Eversol? - Powered by Everstake

> The main Eversol mission is to assist Solana ecosystem growth by supporting financially the projects carefully selected by the community, through the DAO Governance. > > Eversol stake pool is built using the standard Solana contract, but we want it to be special – different from existing pools like Marinade, Lido, Socean, etc. That is why we dedicate the percentage of the pool rewards to the stake pool's Treasury. Also, we will help with co-marketing activities, useful business contacts, technical expertise, and consider the most voted project as a recipient of funding from Everstake Capital. Eversol Docs

This Project started their activity since Q4 2021 as indicated by their Roadmap, and their activity is slowly increasing in the Solana Ecosystem, some of the things to come in this project are a Referral Program and more Partnerships with other Projects, their DAO is already Live.

Twitter - Website

Swaps Using $bSOL to Swap From. $bSOL → X

Swaps Using $bSOL to Swap To. X → $bSOL

What is Blaze Stake?

> BlazeStake is a fully non-custodial Solana stake pool protocol that is supported by the Solana Foundation. By staking SOL through BlazeStake, you will receive BlazeStake Staked SOL (bSOL) tokens that can be used in DeFi applications. BlazeStake automatically delegates SOL across many Solana validators to strengthen the decentralization of Solana. bSOL is designed to increase in value compared to SOL every epoch relative to the staking APY, as bSOL is always backed by an amount of SOL which increases as staking rewards compound. BlazeStake Docs

This Project started their activity since Q4 2021 as indicated by their Roadmap, although their influence on Solana Ecosystem isn’t as big as other Projects, their activity is slowly increasing and with the launch of airdrops (as indicated by their Roadmap) their reach will increase, their DAO is expected to launch on 2023.

Twitter - Website

BlazeStake Staked Sol Token $bSOL Swap Activity

🔎BlazeStake Analysis🔍

BlazeStake Activity is small, but one of the interesting things i found is that during the FTX Crash this Project doesn’t lose too much Volume.

• We can see a total Unstake Volume of 2,112 $SOL in November 10, but four days after the Protocol received a total Volume of 5,072 $SOL Staked in November 14.
• There isn’t notable SWAP activity during the FTX Crash.
• Since November 1 the protocol has a Net Flow of +6260 $SOL.
• USDC↔bSOL and SOL↔bSOL are the Liquidity Pools with most Activity.
  • Jupiter DEX present the biggest amount of swaps between these tokens.

In the Last week of December this Project attracted more Stakers and Jupiter bSOL pools presented the most activity on that week.

BlazeStake - Stake Activity

Eversol - Stake Activity

Eversol Staked Sol Token $eSOL Swap Activity

Swaps Using $eSOL to Swap To. X → $eSOL

What is Socean?

> Socean (SO—shen, rhymes with Ocean) is a suite of win-win DeFi products on Solana. > > Our vision is to build best-in-class, positive-sum financial products. We want to be a place where anyone who wants to grow their money can find something that fits their needs and risk preferences. > > Our customers are always going to want higher returns, lower risks, and better UX. Those are the three things we’ll constantly optimise for. Socean Docs

This Project started their activity since Q3 2021 as indicated by their Roadmap, and their activity is high in the Solana Ecosystem thanks to the promise to give the best yields on Solana, there isn’t information about the future projects in their Roadmap at the moment.

Twitter - Website

🔎Socean Analysis🔍

Socean lost an Important Amount of $SOL in Unstakes During the FTX Crash.

• We can see a total Unstake Volume of 10,694 $SOL in November 13, in November 10 lost 4,609 $SOL in Unstakes,
• There is a notable SWAP activity before and during the FTX Crash, at the end of November the Swap Activity is lower until December 13 which increases again.
• Since November 1 the protocol has a Net Flow of -10,130 $SOL.
• USDC↔scnSOL and SOL↔scnSOL are the Liquidity Pools with most Activity.

  • There are less Swappers interacting with USDC↔scnSOL Pool, but the amount of swaps made in that pool by them reach more than 6000 Swaps which is more than 67% of the Total Swaps.

  • Jupiter DEX present the biggest amount of swaps between these tokens.

After the FTX Crash the Stake Activity decrease, but in the last week of December the Amount of Stakes increase.

Socean - Stake Activity

Socean Staked Sol Token $scnSOL Swap Activity

Swaps Using $scnSOL to Swap From. $scnSOL → X

Swaps Using $scnSOL to Swap To. X → $scnSOL

🔎Eversol Analysis🔍

Eversol lost an Important Amount of $SOL in Unstakes During the FTX Crash.

• We can see a total Unstake Volume of 5,078 $SOL in November 10, in November 8 lost 2,104 $SOL in Unstakes and 1,248 $SOL in November 13
• There is a notable SWAP activity before and during the FTX Crash, at the end of November there isn’t Swap Activity until December 5 with single digits swaps from that date Onwards.
• Since November 1 the protocol has a Net Flow of -8,730 $SOL.
• USDC↔eSOL and SOL↔eSOL are the Liquidity Pools with most Activity.

  • There are only 7-8 Swappers interacting with USDC↔eSOL Pool, but the amount of swaps made in that pool by them reach 1763 Swaps which is 88% of the Total Swaps.

  • Jupiter DEX present the biggest amount of swaps between these tokens.

Since the FTX Crash, the activity related to Eversol is really Bad, there a bigger Outflow of $SOL than Inflows in December.

What is Marinade?

> Marinade.Finance is a non-custodial liquid staking protocol built on Solana. You can stake your SOL tokens with Marinade using automated staking strategies and receive "marinated SOL" tokens (mSOL) that you can use in decentralized finance (DeFi). Marinade Docs

Marinade Chefs began working in February 2021, as indicated in their Roadmap (Blog), thanks to an early start in 2021, this Project is one of the biggest for users which are looking to Stake their SOL, and some of their next steps on their road ahead are to Create a grant program to supports builders and projects building on Marinade and mSOL, Improve their strategies, and expand their MNDE token across the ecosystem.

Twitter - Website

Marinade Unstakes Dilemma in Flipside

There are 2 problems with Unstakes in ==Marinade, because there are 2 ways of Unstake, detailed info in their docs.

• Unstake Now aka Liquid Unstake: If the user unstake their mSOL immediately, the following operations happen:
  • User Transfer their mSOL to Marinade.
  • Marinade Swaps mSOL → SOL using the Liquidity Pool.
  • User Get a transfer of SOL with the fee deducted, variable fee (0.3% - 3%) more info about this here.
  • Example of Transaction, Marinade SOL Leg Account which Transfer the SOL in the Last step UefNb6z6yvArqe4cJHTXCqStRsKmWhGxnZzuHbikP5Q.
• Delayed Unstake: If the user is patient and doesn’t want to pay a fee, the following operations happen:
  • User receive a claim ticket (NFT), with the amount and due time of their Unstake.
  • Their mSOL is burned and removed from the supply.
  • The Unstake Operation is launched and performed by the bot.
  • At due time, the user will be able to claim their SOL.

Only the ==Delayed Unstake== is registered on the ==Stake_Action Table== from Flipside.

And because the actions are ==Order_Unstake and Claim instead of the classic Withdraw== as the rest of Stake Pools, usually this information is missed.

Marinade - Stake Activity

Marinade Staked Sol Token $mSOL Swap Activity

Swaps Using $mSOL to Swap From. $mSOL → X

Swaps Using $mSOL to Swap To. X → $mSOL

🔎Marinade Analysis🔍

I have to filter LPs again using a minimum of 20 swaps required in the period of time, Unstake Activity is called claim here because users order a unstake and then after 2 epoch they can claim their $SOL.

Marinade lost a really high Amount of $SOL in Unstakes During the FTX Crash and this only considering the Delayed Unstake

• We can see a total Delayed Unstake Volume of 726,665 $SOL in November 10, Because of the Delay, days after there is a Delayed Unstake Volume of Almost 500,000 $SOL between November 12 and 15.
• There is a notable SWAP activity during the FTX Crash, with November 10 the day with the biggest spike (more than 35,000 Swaps). After November 14 the Swaps Activity starts Decreasing.
• Since November 1 the protocol has a Net Flow of -1,288,000 $SOL, This is only considering the Delayed Unstakes, if we add the $SOL transfers from their SOL Leg Account (857k) which are the Unstake Activity unavailable in the Stake Table we can reach a Net Flow of Over 2M $SOL, The Biggest Amount of all Protocols.
• USDC↔mSOL, mSOL↔mSOL and SOL↔mSOL are the Liquidity Pools with most Activity.

  • The amount of Swappers in mSOL↔mSOL is low, but they made the biggest amount of Swaps, the reason to swap the asset for the same asset is because they were looking to made winnings because of the volatile price of mSOL during the FTX Crash, this action is called Arbitrage.

  • Although mSOL↔mSOL Doesn’t have the biggest swap activity it has the biggest amount of Users and mSOL Volume.

    • The Amount of mSOL Swapped is small than the amount of mSOL received.

  • Jupiter DEX present the biggest amount of swaps between these tokens.

The amount of $SOL lost in Unstakes because of the FTX Crash was high, but Marinade seems to have a a high volume of Stakes as Inflow, although in December 5 they have the 2nd biggest Spike in Unstakes.

Swaps Using $stSOL to Swap To. X → $stSOL

Lido Staked Sol Token $stSOL Swap Activity

What is Lido?

> Lido on Solana is a liquid staking solution for SOL backed by industry-leading staking providers. Lido lets users earn SOL staking rewards without needing to maintain infrastructure and enables them to trade staked positions, as well as participate in on-chain decentralized finance with their staked assets. - Lido

Developers started building Lido for Solana in April 2021, as announced on Chorus-One Medium, and thanks to their background their stacked SOL stSOL is present on differents Protocols in Solana.

Recently in December 2022 the Lido Team released the 2nd version of the program which spiked the stake activity in the latests weeks.

Twitter - Website

Lido - Stake Activity

Swaps Using $stSOL to Swap From. $stSOL → X

🔎Lido Analysis🔍

This is the First Project that i have to filter the Swap Pools, because of the high amount of LPs. I decided to include only LPs with more than 20 Swaps in this period of time.

LIDO lost a really high Amount of $SOL in Unstakes During the FTX Crash.

• We can see a total Unstake Volume of 897,490 $SOL in November 10, The biggest amount of $SOL so far (again).
• There is a notable SWAP activity during the FTX Crash, with November 10 the day with the biggest spike (more than 60,000 Swaps). Since that day the Swap activity goes in a downtrend.
• Since November 1 the protocol has a Net Flow of -1,501,000 $SOL.
• USDC↔stSOL and stSOL↔stSOL are the Liquidity Pools with most Activity.

  • The amount of Swappers in stSOL↔stSOL are really low, but they made the biggest amount of Swaps, the reason to swap the asset for the same asset is because they were looking to made winnings because of the volatile price of stSOL during the FTX Crash, this action is called Arbitrage.

  • Although stSOL↔stSOL Doesn’t have the biggest swap activity it has the biggest amount of Users and stSOL Volume.

  • Jupiter DEX present the biggest amount of swaps between these tokens.

The amount of $SOL lost in Unstakes because of the FTX Crash was high, but LIDO seems to have a lot of Stakers reaching the project after the Incident, reaching a high activity in Stakes on December and although the Swap activity is lower, this amount is bigger in comparison to the projects seen recently.

What is JPOOL?

> JPool is a stake pool on the Solana blockchain network enabling safe, secure, high-yield rewards on your staked SOL. JPOOL Twitter

This Liquid Staking Protocol was launched in Q3-Q4 2021, and there isn’t new announcements or a roadmap for the future in their docs, but for 2022 they were working with several DeFi to include their staked SOL token JSOL.

Twitter - Website

🔎JPOOL Analysis🔍

JPOOL lost a really high Amount of $SOL in Unstakes During the FTX Crash.

• We can see a total Unstake Volume of 188,942 $SOL in November 8, The biggest amount of $SOL so far.
• There is a notable SWAP activity before and during the FTX Crash, with November 8 the day with the biggest spike (1624 Swaps). Since that day the Swap activity goes in a downtrend.
• Since November 1 the protocol has a Net Flow of -169,100 $SOL.
• USDC↔JSOL and SOL↔JSOL are the Liquidity Pools with most Activity.

  • Both Pools have the biggest Swap Activity, with the USDC↔JSOL Pool having less Swappers than the SOL↔JSOL Pool.

  • Jupiter DEX present the biggest amount of swaps between these tokens.

Since the FTX Crash, the activity related to JPOOL starts to decrease, and stake activity is really low after that, but their LPs have a low but regular activity regarding swaps in December.

JPOOL - Stake Activity

Swaps Using $JSOL to Swap To. X → $JSOL

JPOOL Staked Sol Token $JSOL Swap Activity

Swaps Using $JSOL to Swap From. $JSOL → X

What is MonkeDAO DAOPool?

> Stake with the DAOPool to earn double rewards and support all of the Solana community! Each SOL staked in the pool is distributed to the Solana communities’ validators, with the goal of further decentralizing the network while also supporting all DAOs. This MonkeDAO initiative aims to highlight the positive, constructive features of crypto, while serving as a resource for the entire Solana ecosystem. MonkeDAO

MonkeDAO origins are related to Solana Monke Bussiness NFT Collection, these NFTs were really popular and culminated in the creation of MonkeDAO, later in December 19, 2021 they announced on their twitter the launch of the first Solana’s Community Staking Pool for DAOs by a DAO.

In their Roadmap which is in latin, after the Launch of Daopool the following steps are the Launch of Monkeverse 3D Metaverse ready avatars, NFTs and finally the launch of $MONKE Token.

Twitter - Website

🔎MonkeDAO DAOpool Analysis🔍

MonkeDAO lost an Important Amount of $SOL in Unstakes During the FTX Crash.

• We can see a total Unstake Volume of 22,352 $SOL in November 10, and two days after the Stake Pool lost 9,541 $SOL in Unstakes again.
• There is a notable SWAP activity during the FTX Crash and goes in a downtrend reachin lower amount of Swaps in December.
• Since November 1 the protocol has a Net Flow of -33,545 $SOL.
• USDC↔daoSOL and SOL↔daoSOL are the Liquidity Pools with most Activity.
  • Jupiter DEX present the biggest amount of swaps between these tokens.

In the Last week of December this Project attracted more Stakers but their Staked Volume is really low in comparison with the Unstakes.

Swaps Using $daoSOL to Swap To. X → $daoSOL

MonkeDAO Staked Sol Token $daoSOL Swap Activity

MonkeDAO - Stake Activity

Swaps Using $daoSOL to Swap From. $daoSOL → X

Sol Wars, the competition between SOL tokens

There are more than 10 differents SOL Tokens in ==Solana==, aside from SOL and Wrapped SOL we have:

• The Synthetic SOL (xSOL) from Synthetify a token which looks to have the same price as the $SOL.
• Aggregate Solana Stake Pool Token (aSOL) which is a abandoned project with their website and twitter shutdown.
• Amulet Staked Sol (amtSOL) from Amulet a Liquidity Staking Protocol on Solana.
• Jito Staked Sol (JitoSOL) from Jito another Liquidity Staking Protocol on Solana.

These Tokens will not be considered in this dashboard, and the reasons behind are:

• Liquid Staking Protocols (Jito/Amulet), don’t have Stake/Unstake Activity in Flipside solana.core.fact_stake_pool_actions Table.
• The Size of the dashboard is bigger enough to add more Tokens.
  • This is ultimately the main reason to not include more Data.