Try Quests to earn cryptostETH Most Common Pools
In this article, You will read all about which pools are most commonly used to swap in and out of stETH. What are the most common pairs? Which pools are most often used?
All data from this presentation is from stETH inception.
To compare better, I added wstETH to my result. The total result for stETH in Ethereum core tables was not complete, so I added wsteth and stETH to my result. I used ethereum_core.ez_dex_swaps to find pools and pairs. I went through pairs and examined in total amount (amount in and amount out) and the total number of used steth.
Written by hess
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stETH is Lido's liquid variant of staked ETH. stETH is a token that represents staked ether in Lido, combining the value of initial deposit + staking rewards. stETH tokens are minted upon deposit and burned when redeemed.
The most used pool is in Uniswap platform, with more than 7K used. seETH/WETH is the most used pair among the others. The other pair of this platform is wETH/stETH with about 2000 used stETH in it.
The second place is DAI/stETH which was placed in Sushiswap. More than 4000 swaps happened in that pool.
About 50% of swap that used stETH goes through stETH/WETH pool. We can call this pool the most used pool in comparison to the others.
The next one has an 18% difference. DAI/wstETH with 32% is the second used pool.
About 18% of stETH swaps go through the three other pools
To understand pool activities better, You should see the below chart. The below chart shows top-ranked pools based on the Total volume of the amount in and amounts out in USD.
In this comparison, The first place flipped. More than 380M dollars swapped in DAI/wsETH pool.
stETH/WETH pool pairs which were the first place in total used of stETH. But in this chart is in third place. About 15M dollars were swapped in this pair.
The second one is WETH/stETH with more than 43M dollars.
Do you think how many unique users made the volume that you already saw in the previous chart?
The answer is in the below bar chart. WETH-stETH, with about 100 unique users made 43M.
The second and third place is near to the first place and the total number of their users are similar to WETH/stETH pool pair.
As you know, stETH is an exclusive Lido token. There aren't too many pools on the stETH token.
We can call stETH/WETH, WETH/stETH, and DAI/wstETH the most common pools that users used stETH in their swaps.
The answer for which pool pairs are often used by users is stETH/WETH.