Staking/unstaking per day?

stETH currently cannot be unstaked. According to the Lido docs, "When withdrawals are enabled on the beacon chain, stETH can be redeemed for unstaked ETH and accumulated rewards", and the Ethereum Beacon chain will enable withdrawals after the Merge is complete, later in 2022 or in 2023.

Therefore, from the point of view of the protocol, for now all staked ETH remains staked, until Beacon withdrawals are live following the complete shift of Ethereum to proof-of-stake.

But for the purposes of this analysis, we can look for user actions that are similar in intention to unstaking, from the point of view of the user themselves. To construct the visualization below, we consider an action equivalent to unstaking for the user -- selling their stETH (swapping out), so that someone else becomes the staker.

Introduction

Lido Protocol broadens the scope for Ethereum staking by -allowing staking which started much before the Merge was complete, -allowing staking for any amount without necessarily meeting the 32 ETH validator minimum, -and most importantly, by enabling users to retain access to liquidity while their ETH is locked in staking, by issuing an equivalent amount of stETH to users that they can use on DeFi and other platforms.

Methodology

This dashboard explores the metrics of ETH staking with Lido, including:

• daily and total stETH minted (ETH staked on Lido),

• the size of an average staking transaction,

• the number of unique users staking,

• how long some of the users have kept their stake.

The stETH token's contract address examined is 0xae7ab96520de3a18e5e111b5eaab095312d7fe84.

Daily volume of stETH?

Over 4.1M Ether has been staked on Lido, represented by over 4.1M of stETH minted. Staking had reached all-time highs from March to May 2022:

Average stake size?

Most of the time, the daily staking transactions on average remained below 500 stETH; most of them in single or low double digits of stETH:

Number of stakers over time?

Over 91k unique users have staked ETH with Lido. Most days this translated to one or several hundred unique stakers coming in per day:

Average time staked?

Most of the currently staked ETH amount was first staked over a month ago (the peak of staking, as seen in the charts above and below, was from March to May 2022). The average age of ETH staked on Lido is approximately 6 months:

On the chart above we see that, according to the ethereum.core.ex_dex_swaps table in the Flipside Crypto data, the vast majority of users' stETH remains staked with them, and is not transferred to others.

About

This analysis was created by catscatscode (Flipside, Twitter, catscatscode#3578 on Discord) on 8 June 2022 for Flipside Crypto's "Daily stETH Metrics" Lido bounty.