Total Volume/Number of Transactions/Unique Users of ETH Deposit in per Platform

The charts below show the volume in USD and ETH, the number of transactions and the number of unique users on each platform.

• The largest volume and number of transactions is staking and deposit belonging to ==Direct Staking== with ==243.2k transactions== and ==31.8B dollars== and ==13.5M ETH==.
• The largest number of unique users is staking and deposit belonging to ==Lido== with ==80.3 users==.
• After Direct Staking, the ==Lido== platform has the largest volume(==about 12.1B dollars, about 4.2 ETH==) and number of transactions(==122.2k transactions==).
• RocketPool, Stakewise, Cream and Stkr are in the next ranks based on the volume and number of transactions.

Total Daily/Monthly Volume in per Platform

The charts below show the total daily and monthly volume in per platform.

• The highest staked volume was in March 2022 with about 2.4M ETH and 6.5B dollars, Direct Stacking (1.33M ETH and 3.8B dollars) and Lido (with 944.1M ETH and 2.6B dollars) had the largest share.
• The highest staked volume was on March 15, 2022, and it was on the 15th day, Direct Stacking (202.2M ETH and 517M dollars) and Lido (with 197.2k ETH and 505M dollars) had the largest share.
• 75.5% of Ethereum's staked volume belongs to Direct Staking.
• 63.4% of Ethereum's staked number of transactions belongs to Direct Staking.
• The Lido platform has a higher percentage of number of unique users than other platforms.

How likely are depositors to use multiple platforms vs using a single platform?

Method: In each platform, I grouped the users based on their address and wallet and divided them based on the number of platforms that the user has deposited.

• Users who have only deposited on one platform => 159.7k users, 97%

• Users who have deposited on multiple platforms => 4862 users, about 3%

As can be seen, only ==3%== of users have deposited or staked on multiple platforms and ==97%== of users have deposited or staked on only one platform.

So it can be said that the probability of users depositing on several platforms is about 3% and this probability is low.

What is Lido?

Lido is a liquid staking service, that lets users deposit assets like Ethereum, Solana, Polygon, and others to earn a yield. Whenever users stake these assets, they receive another staked version of the same token, which can be used elsewhere in the market.

What is RocketPool?

Rocket Pool is the first truly decentralized Ethereum staking pool. Liquid Staking. Innovative liquid staking token that accrues while using an increasing exchange rate, rather than rebasing which is better for DeFi and better for tax reporting.

What is Stkr?

Stkr is a DeFi protocol for Ethereum 2.0 staking and liquidity. Built by Ankr and powered by ANKR token. Stakers؛earning staking rewards. Providers; running Ethereum 2.0 nodes and earning from staking rewards and platform fees.

What is Stakewise?

StakeWise is a liquid Ethereum 2.0 staking service that allows anyone to benefit from the yields available on the Beacon Chain. StakeWise runs secure and stable institutional-grade infrastructure, combined with unique tokenomics, to provide the highest possible staking yields for its users.

What is Cream?

CREAM Finance is a decentralized lending protocol for individuals, institutions and protocols to access financial services.it is a permissionless, open source and blockchain agnostic protocol serving users on Ethereum, Binance Smart Chain, Polygon and Fantom. Users who are passively holding ETH or wBTC can deposit their assets on CREAM.

Introduction

What is Staking?

Staking is the act of depositing 32 ETH to activate validator software. As a validator you’ll be responsible for storing data, processing transactions, and adding new blocks to the blockchain. This will keep Ethereum secure for everyone and earn you new ETH in the process

What is Liquid Staking?

Liquid staking is the act of delegating your tokens to a service that stakes for you without losing access to your funds.

Liquid staking allows you to access your funds even when you’re staking them. The funds remain in escrow, but aren’t “locked” and inaccessible, as they would be with PoS staking.

• Difference between Staking and Liquid Staking

When you stake coins you have to lock them up for a specified amount of time. During which you cannot sell or transfer your coins. If there is a market crash during your lock period, you won’t be able to act in a timely manner. With liquid staking, you can add and remove funds as you pleased (usually with a trade-off of lower APR)

Liquid staking offers the best of both worlds: a passive income and access to your staked funds.

Method

I used the hint inside Flipside to contract the addresses of the platforms and analyzed the platforms as follows:

• Lido
  • Contract Address: 0xae7ab96520de3a18e5e111b5eaab095312d7fe84
  • Table: ethereum.core.ez_eth_transfers
• Direct Staking
  • Contract Address: 0x00000000219ab540356cBB839Cbe05303d7705Fa
  • Table: ethereum.core.ez_eth_transfers
• Rocket Pool:
  • Contract Address: 0x4D05E3d48a938db4b7a9A59A802D5b45011BDe58
  • Table: ethereum.core.fact_event_logs
  • Condition: event_inputs:from::string = lower('0x0000000000000000000000000000000000000000')
• Stkr:
  • Contract Address: 0x84db6eE82b7Cf3b47E8F19270abdE5718B936670
  • Table: ethereum.core.fact_event_logs
  • Condition: event_inputs:from = lower('0x84db6eE82b7Cf3b47E8F19270abdE5718B936670') and origin_function_signature in ('0x9fa65c56','0xeb834a2c')
• Stakewise:
  • Contract Address: 0xC874b064f465bdD6411D45734b56fac750Cda29A
  • Table: ethereum.core.fact_event_logs
  • Condition: origin_function_signature in ('0x4a58db19','0x3a4b66f1','0x040dee8a')
• Cream :
  • Contract Address: 0xcbc1065255cbc3ab41a6868c22d1f1c573ab89fd, 0x49d72e3973900a195a155a46441f0c08179fdb64
  • Table: ethereum.core.fact_event_logs
  • Condition: origin_function_signature = '0xa9059cbb'

Average/Median/Max/Min of ETH Deposit

Total Volume/Number of Transactions/Unique Users of ETH Deposit

Distribution of ETH Deposits

The charts below show the distribution of Ethereum deposits based on the number of users and the number of transactions.

I divided the deposit volume into 6 categories and as you can see,

• The volume range of ==20 to 50 Ethereum== has the highest percentage of transactions with ==235.6k transactions== and ==61.4%==.
• The volume range of ==20 to 50 Ethereum== has the highest percentage of unique users with ==79.7k users== and ==44%==.

Average/Median/Max/Min of ETH Deposit in per Platform

The charts below show average, median, max, min of ETH Deposit in per Platform.

• The max stake volume of ==Lido== platform is higher than other platforms(62k ETH and 200.5M dollars).
• The median stake volume of ==Direct Staking== is higher than other platforms (32 ETH and 81.2k dollars).
• The average stake volume of ==Cream== platform is higher than other platforms (141.6 ETH and 489.5k dollars).
• The min stake volume of ==Stkr== platform is higher than other platforms (0.4 ETH and 468.6 dollars).

Cumulative Volume/Number of Transactions/Unique Users of ETH Deposit in per Platform

The charts below show the cumulative volume and transactions and the number of users in staking platforms.

• Cumulative volume and transactions in ==Direct Stacking== is higher than other platforms and its graph is upward.
• It is noteworthy that the cumulative number of ==Lido== users, which was lower than Direct Stacking until March 1, 2022, has been higher than Direct Stacking since the beginning of March.

Are depositors Dollar cost averaging their ETH into the platforms?

I have to answer this question:

• I obtained the number of transactions of each user's address wallet and I divided it into two categories:
  • Those who have made only one deposit => 142.7k users ,84.2%
  • Those who have made multiple deposits => 26.7k users, 15.8%

As you can see, ==84.2%== of users have made a deposit only once and ==15.8%== of users have made a deposit more than once.

Distribution of Time Difference

In this section, I analyzed the users who have several deposits.

I categorized based on the difference in deposit time.

• The highest percentage of deposits are made in the period of 1 week to 1 month, about 28%.
• More than 50% of the second deposit of users is about 30 days.
• Only about 1.5% of users have deposits after 1 year.

Average Time Deposit in per Platform

Opposite chart shows average time deposit in per Platform.

• The lowest average deposit time belongs to Direct Stacking with 2.1 days.

• The average deposit time on the Cream platform is about 16 days.

• The average deposit time on the RocketPool platform is about 16.8 days.

• The average deposit time on the Lido platform is about 20 days.

• The average deposit time on the Strk platform is about 20.4 days.

• The longest average deposit time belongs to Stakewise with 24.3 days.

Conclusion

• The volume range of 20 to 50 Ethereum has the highest percentage of transactions with 235.6k transactions and 61.4%.
• The volume range of 20 to 50 Ethereum has the highest percentage of unique users with 79.7k users and 44%.
• The largest volume and number of transactions is staking and deposit belonging to Direct Staking with 243.2k transactions and 31.8B dollars and 13.5M ETH.
• The largest number of unique users is staking and deposit belonging to Lido with 80.3 users.
• After Direct Staking, the Lido platform has the largest volume(about 12.1B dollars, about 4.2 ETH) and number of transactions(122.2k transactions).
• RocketPool, Stakewise, Cream and Stkr are in the next ranks based on the volume and number of transactions.
• The max stake volume of Lido platform is higher than other platforms(62k ETH and 200.5M dollars).
• The median stake volume of Direct Staking is higher than other platforms (32 ETH and 81.2k dollars).
• The average stake volume of Cream platform is higher than other platforms (141.6 ETH and 489.5k dollars).
• The min stake volume of Stkr platform is higher than other platforms (0.4 ETH and 468.6 dollars).
• 75.5% of Ethereum's staked volume belongs to Direct Staking.
• 63.4% of Ethereum's staked number of transactions belongs to Direct Staking.
• The Lido platform has a higher percentage of number of unique users than other platforms.
• Cumulative volume and transactions in Direct Stacking is higher than other platforms and its graph is upward.
• It is noteworthy that the cumulative number of Lido users, which was lower than Direct Stacking until March 1, 2022, has been higher than Direct Stacking since the beginning of March.
• The probability of users depositing on several platforms is about 3% and this probability is low.
• 84.2% of users have made a deposit only once and 15.8% of users have made a deposit more than once.
• The highest percentage of deposits are made in the period of 1 week to 1 month, about 28%.
• The lowest average deposit time belongs to Direct Stacking with 2.1 days.
• The longest average deposit time belongs to Stakewise with 24.3 days.

THANK YOU FOR READING!

Twitter: mohsen.dastpeyman

Discord_id: mohsen#4796

Resources

• https://ethereum.org/en/staking
• Flipside hint for contract addresses
• https://www.google.com

Distribution of ETH Deposits in per Platform

The charts below show the distribution of Ethereum deposits based on the number of users and the number of transactions in per platform.

I divided the deposit volume into 6 categories and as you can see,

• The volume range of ==20 to 50 Ethereum== has the highest percentage of transactions, most of which belongs to ==Direct Staking==.
• The volume range of ==20 to 50 Ethereum== has the highest percentage of unique users, most of which belongs to ==Direct Staking==.