Try Quests to earn cryptoETH Derivatives
aETH
Stkr is a decentralized protocol and platform, built by Ankr, where users can stake any amount of ETH in Eth2 Micropools with zero slashing risk, and get instant liquidity with aETH.
The Stkr platform combines staking and DeFi, implementing elements from traditional staking with non-custodial management and decentralized governance.
aETH is a synthetic derivative asset issued to ETH stakers, that enables instant liquidity for the illiquid Ethereum 2.0 network. source
rETH
Rocket Pool ETH is a unique decentralizedstaking pool protocolon Ethereum. Rocket Pool aims to implement the core ethos of DeFi and Ethereum, specifically the non-custodial, trustless nature that supports self-sovereignty. According to the whitepaper, the community-owned Rocket Pool is based on the PoS (Proof of Stake) algorithm, wherein users can participate by tokenized staking or by running a node in the protocol. Operators need to stake 16 ETH to run a node and earn commissions and rewards thereon. Further, users can stake their ETH tokens on the Rocket Pool network to earn rETH tokens automatically. The rewards will be gained over time, regardless of whether their ETH tokens are traded, sold, or held; rewards are automatic from the moment they deposit ETH for staking in the liquidity pool.
stETH
Staked ether (stETH) refers to a cryptocurrency token representing one unit of ether (ETH) that has been "staked" or deposited and locked up in support of Ethereum's upgraded network called the beacon chain. Staked ether functions somewhat like an IOU, in that stETH holders should be able to redeem staked ether tokens for an equivalent number of ether tokens following a waiting period. In this case, the waiting period will last until after Ethereum's new network standard, Ethereum 2.0, is adopted.1
Methods
Table I used :
ethereum.token_prices_hourly
ethereum.core.fact_event_logs
ethereum.dex_swaps
Symbols:
symbol = 'aETH'
symbol = 'rETH'
symbol = 'stETH'
Contracts:
aETH (0xE95A203B1a91a908F9B9CE46459d101078c2c3cb)
rETH (0xae78736Cd615f374D3085123A210448E74Fc6393)
stETH (0xae7ab96520DE3A18E5e111B5EaAb095312D7fE84)
All data is from 2022-01-01
Peg or Depeg
It is very important to maintain the value or so-called peg of ETH derivatives. There is a risk of de-pegging Ethereum derivatives for them, and various factors have an effect on de-pegging them. One of the most important factors is supply and demand, if these two have sudden changes, they will lead to de-pegging of ETH derivatives, because if there are sudden changes, it will cause the liquidity of pools to suffer and their currencies to change. Among ETH derivatives, ==aETH== is the most stable and has the closest currency to ETH and is very little de-pegged. During this year, aETH has found a big difference with ETH 2 times, the first time was on June 8, when it reached 0.97 ETH, and the other time was on July 5, when it reached 0.94 ETH. One of the most volatile ETH derivatives is rETH, whose value is very volatile, reaching 0.82 ETH on July 20. One of the most controversial derivatives of ETH is stETH for the Lido platform, which is the largest platform for Ethereum Stake. stETH still could not reach ETH after being DePeged. stETH has fallen to 0.93 ETH in the liquidity crisis that happened to it when it was DePeged and still has not been able to return to its previous value.
Staking Amount, effective or ineffective?
The highest amount of ETH staked is in Lido and the number of ETH staked is 2.94M. The highest amount of ETH staked in one day and this year on the Lido platform is on July 12, and on this day 825k ETH were staked on this platform. After this stake volume, with the help of it, a few days later, on July 24, the value of stETH reached 0.98 ETH, which is the highest currency after its de-pegging, and this shows that the stake volume has a direct effect on It has the value of Ethereum derivatives. On February 3, the highest amount of stakes was recorded in Rocket Pool, and the amount of stakes reached 3100 ETH on this day, and just a few days later, the value of rETH reached 1 ETH on February 20.
Of course, as I said before, the value of Ethereum derivatives depends on many different factors, and as you can see here, although the amount of ETH staked in Lido is more than Ankr, the value of stETH is lower than ETH. aETH is the same value as ETH.
Swaps and Top Addresses
stETH has a high volume of swaps and has the largest volume of swaps among all ETH derivatives. The most popular stETH pool is DAI-wstETH and it ranks first with 57%. rETH is swapped daily in heavy volumes, so that on March 11, its swap volume reached 60 million, and the most popular pool of this currency is rETH-WETH. The largest volume of aETH swaps in one day and this year is on January 18, and the volume of swaps on this day was close to 3 million, and the most popular pool is WETH-aTH. The most address to which aETH was sent is Burn address and 98% of aETHs were sent to this address. The most popular address for rETH is Uniswap, so that 71% of RETHs are sent to it, and for example, in the third week of July, 380K rETHs were sent to this address. Uniswap is the most address where stETH is used and 58% of stETH is used in that address.
Conclusion
As I mentioned earlier, the preservation of the value of Ethereum derivatives depends on various factors, some of which we examined together. aETH can be called the most stable derivative of Ethereum because it has not had a large price difference over time and its value has always been equal to Ethereum, which makes it the most stable derivative of Ethereum.
