what is Lido?

The Lido protocol is a decentralized finance (DeFi) protocol built on the Ethereum blockchain. Its primary role is to enable the conversion of staked Ethereum (ETH) into a tradable and liquid token called Staked ETH (StETH). The protocol allows users to directly stake their ETH in the Lido smart contract and receive StETH tokens in return. Users can then use StETH within the DeFi ecosystem. The DeFi ecosystem is a collection of blockchain-based applications and protocols that provide permissionless, transparent, and customizable financial services. These protocols enable users to engage in financial activities without relying on traditional intermediaries such as banks. The StETH redemption feature in the Lido protocol is significant as it involves a daily buyback and burn mechanism. Each day, the protocol buys back a portion of the profit generated from block rewards and adjusts the StETH supply accordingly. This buyback and burn process increases the price and value of the StETH token. This feature can impact the Ethereum staking landscape by increasing the value of StETH, which, in turn, contributes to the overall value of the Ethereum ecosystem and ETH stakes. With the increase in the price of StETH, users can earn higher returns from acquiring and holding StETH tokens. This incentivizes users to participate in Ethereum staking through Lido and contributes to the growth and liquidity of the Ethereum staking landscape within the DeFi ecosystem. The StETH redemption feature aligns the interests of stakers and token holders, creating a symbiotic relationship between the Ethereum staking community and DeFi participants.

what is StETH redmption?

STETH redemption refers to the process of converting Staked Ether (STETH) back into Ether (ETH) on the Ethereum network. STETH is a token that represents the value of ETH deposited into the Ethereum 2.0 Beacon Chain for staking purposes.

When a user stakes their ETH in the Ethereum 2.0 network, they receive STETH in return, which represents their staked ETH. The staking process involves locking up ETH to support the security and consensus of the Ethereum network.

Redemption occurs when a user wants to exit their staking position and retrieve their original ETH along with any earned rewards. By redeeming STETH, users can convert their staked ETH back into the native Ether cryptocurrency.

Redemption may involve a waiting period, as the Ethereum 2.0 network has specific rules and requirements for the withdrawal of staked ETH. These rules are designed to ensure the stability and security of the network.

It's important to note that the specifics of STETH redemption may vary depending on the Ethereum 2.0 protocol and the staking platform or service being used. Users should refer to the documentation or guidelines provided by their staking provider for detailed information on the redemption process

What is standard deviation? Standard deviation is a statistical measure that quantifies the amount of dispersion or variability in a dataset. It provides information about how the data points are spread out around the mean (average) value. In other words, it measures the average distance between each data point and the mean.

The standard deviation is calculated by taking the square root of the variance. The variance is obtained by calculating the average of the squared differences between each data point and the mean.

A high standard deviation indicates that the data points are more spread out and less clustered around the mean. This suggests a higher degree of variability or dispersion in the dataset.

Conversely, a low standard deviation indicates that the data points are closer to the mean and more tightly clustered. This suggests a lower degree of variability or dispersion in the dataset.

Standard deviation is commonly used in various fields such as finance, economics, social sciences, and natural sciences to analyze and interpret the spread of data, assess the reliability of statistical results, and make comparisons between different datasets.

What is a quartile distribution table? A quartile distribution table, also known as a quartile table or quartiles summary table, is a tabular representation of data that summarizes the quartiles of a dataset. Quartiles divide a dataset into four equal parts, each containing an equal number of data points or an equal percentage of the data.

A quartile distribution table typically includes the following information:

Quartiles: The table displays the three quartiles: Q1, Q2 (median), and Q3. These quartiles divide the data into four equal parts, representing the 25th, 50th, and 75th percentiles, respectively.

Minimum and maximum values: The table provides the minimum and maximum values of the dataset, indicating the range of values observed.

Total amount: The table may include the total amount or sum of the values in the dataset.

User count: If applicable, the table may include the count or number of users associated with each quartile.

The quartile distribution table provides a concise summary of the distribution of the dataset, highlighting the range, central tendency, and spread of the data. It is particularly useful for understanding the spread of values, identifying outliers, and comparing the distribution of multiple datasets.

Methodology I used the Wallet address 0x889edc2edab5f40e902b864ad4d7ade8e412f9b1 and the Ethereum.core.ez_eth_transfers table to identify StETH to ETH redemptions.

Also, from the StETH token contract address and using the ethereum.core.fact_token_transfers table, I was able to identify the eth deposit and StETH withdrawal from Lido. And I was using the crosschain.core.address_labels table, I found the address of celcius wallets.