Introduction

The staking process consists of acquiring cryptocurrencies and keeping them locked in a wallet in order to receive profits or rewards. It is a process very similar to HODL, only that in staking the balances are blocked and you cannot use them freely. At the same time it contributes to the operation and functioning of the blockchain of that same cryptocurrency.

Circulating supply is an approximation of the number of coins that are circulating in the market and in the hands of the general public, i.e. that are accessible to the public. Note that this should not be confused with total supply or maximum supply, as not all coins are always in circulation.

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Methodology

In this dashboard we are gonna track not only the Matic staked since July 2022 but also the Matic in circulation in order to see whats happening on the token. To complement the analysis we will track the staking ratio which is the staked MATIC vs the MATIC in circulation.

In the first approach, I have used the polygon.core.ez_matic_transfers filtering by

address_name LIKE '%stak%' and label_subtype = 'pool'. With these assumptions we will be obtaining the staking actions.

For the second approach I have used the same table but filtering by

address_name LIKE '%stak%' and label_subtype = 'dex' to track the flow over DEXes and then, obtaining the MATIC volume in circulation.

Key insights

• MATIC staked increased from the mid July to mid August, passing from below 200k daily MATIC staked to more than a million.
• MATIC in citculation seems to be more stable over time, near to 10M, but with a jump ver 50M on August 1st.
• In the major of the days, the staking ratio was in the range of 0.01 to 0.03.
• From 2nd week of July to 1st week of August, the staking ratio stayed above 0.1.

As a results, it can be seen how the MATIC staked increased from the mid July to mid August, passing from below 200k daily MATIC staked to more than a million. However, from August 9th, the daily amount staked has decreased considerably.

On the other hand, the MATIC in citculation seems to be more stable over time, near to 10M, but with a jump ver 50M on August 1st.

Finally, looking at the staking ratio, we can see how in the major of the days, the staking ratio was in the range of 0.01 to 0.03, but it experimented a huge increase from 2nd week of July to 1st week of August, reaching values over 0.1.