What is Ethereum Merge?

The Ethereum Merge merges Ethereum's PoS Beacon Chain and Mainnet in order to transition the blockchain away from the unscalable proof-of-work (PoW) mechanism. On the 15th September 2022, Ethereum has successfully made the transition to a PoS mechanism. Through the merging, operations have been moved from the current Ethereum Mainnet to the new Ethereum Beacon Chain. The energy use of Ethereum will be reduced by 99.95% as a result of this merge, allowing the Ethereum ecosystem to grow even further.

Introduction

In this dashboard, we will look at the amount of ETH added & removed from protocols like Compound, Aave and Uniswap over the past 30 days. This is due to a minority of relatively few but outspoken ETH miners who are prepared to fork the ecosystem. Under a PoW consensus mechanism, Ethereum miners have contributed to securing the network. However, miners will essentially go out of business as a result of the switch to PoS. A direct reaction to the Merge is ETHW, which aims to preserve the earlier Ethereum state, including its transaction history and all asset records, in order to survive.

Forked ETH PoW token airdrop will be eligible for wallets that are holding ETH at a ratio of 1:1.

Compound

Aave

Uniswap

• The graphs above depicts the amount of ETH added/removed from Uniswap over the past 30 days.

• On Uniswap, the net amount of ETH removed peaked one day before the merge on September 14th with a net amount of 34.71k removed.

• Net amount of 17.14k ETH were added during the merge day and 3.74k ETH were added as of September 16th.

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• The graphs above depicts the amount of ETH added/removed from Compound over the past 30 days.
• As can be seen, the net amount of ETH added or removed from Compound has been relatively equal from August 17th to September 6th.
• On September 7th forward, the amount of ETH removed from Compound increased significantly and peaked with 125.1k in a single day.
• Nonetheless, during the merge day on September 15th, we can see that the net amount of ETH added to Compound is 12.04k making it the highest net amount added over the past 30 days.

• The graphs above depicts the amount of ETH added/removed from Aave over the past 30 days.
• Similarly, large amount of ETH were removed one week before the merge.
• On top of that, net amount of ETH added to Aave increased considerable during merge day.

Conclusion

1. The three platforms all displayed the similar ETH added & removed trends.
2. The trend that were shown are large amount of ETH were removed one week prior to the merge.
3. Furthermore, a positive net amount of ETH were added during and one day after the merge.
4. As a conclusion, we may deduce that users are removing ETH from platforms in order to be eligible for Forked ETH PoW token airdrop.

Approach

1. Table used for ETH deposited on Compound:

   ethereum.compound.ez_deposits

2. Table used for ETH withdrew from Compound:

   ethereum.compound.ez_redemptions

3. Table used for ETH deposited on Aave:

   ethereum.aave.ez_deposits

4. Table used for ETH withdrew from Aave:

   ethereum.aave.ez_withdraws

5. Table used for Uniswap:

   ethereum.uniswapv3.ez_lp_actions

6. Daily Net ETH deposited amount is calculated by using daily ETH deposited - ETH withdrew.