Lido Custom Analytics

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    Introduction

    Lido is a liquid staking solution for ETH 2.0. Employing Lido, users stake their ETH without locking assets or maintaining infrastructure. ّ For every one ETH staked, stakers receive 1 stETH. stETH, then, can be used for DeFI activities on LIDO ecosystem, such as Curve, and Blaster liquidity pools. While the staked ETH cannot be withdrawn or unstaked with LIDO, stETH can be swapped to ETH anytime.

    LDO is the governance token of LIDO which allowing its holders to take part in community voting and other decisions for the protocol's future.

    This dashboard aims at providing an analytical overview of LIDO protocol.

    Analytics

    SECTION ONE: Day-over-day Ethereum staking with LIDO

    This section show how Ethereum staking with LIDO has changed over time.

    Graphs in this section present the daily amount of ETH staked, number of staking action and number of stakers.

    Method

    To grab ETH staked amount with LIDO two methods can been used. 1- stETH minted and transferred from Genesis to wallets using ethereum.udm_events table. 2- Current circulating supply of stETH using ethereum.erc20_balanaces. In this section the first approach has been taken.

    SECTION FOUR: Monitoring dashboard/explorer for Lido validator nodes

    Lido validators play a major role in LIDO. Below we can see the list of 22 validators at time of writing.

    SECTION THREE: Active rewards with current APYs

    LIDO as a proof of stake (PoS) based blockchain has the system of rewarding through stakings. Users can stake ETH, delegate to validator nodes and receive rewards.

    Above that users can also earn money through stETH. stETH holders received rewards proportional to their steTH share compared to the circulating supply.

    The graph below shows overall APYs.

    Notable findings

    Shares and rewards diminishes over time.

    Notable findings

    The data shows that

    • after an increase in staking ETH in March and April, in May the volume of ETH staked sharply and significantly has decreased.
    • the upward trend starting from the beginning of 2022 has turned into a downward trend since the beginning of April.

    SECTION TWO: Analysis of the most traded intervals of stETH/ETH pair by volume and by time

    While unstaking ETH directly with LIDO is not possible, users are able to swap their stETH to ETH and unstake their ETH indirectly. There several liquidity pool of ETH<->stETH including stETH_ETH LP on UniSwap and stETH-ETH SLP on SushiSwap.

    This section analyses swaps on this liquidity pools.

    The graph below shows stETH and wETH swaps volume over time. We can see that the number of swaps spiked around May 13th as an aftermath of the Terra Colllapes.

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    The graph below shows that the amount of stETH for ETH and the other way around is almost the same and has net been changed significantly over time.

    Graph below shows the LDO reward per validators over time.

    We can see that P2P validator DSRV and staking fish provide the highest amount of rewards.