Lido

Lido is a staking platform for Ethereum and other proof-of-stake chains. The platform allows users to stake their tokens without locking up assets by making an equivalent token available.

There are challenges with staking on the Ethereum blockchain. Users are only able to stake multiples of 32 ETH, and there are also operational hurdles that require technical expertise to participate. Additionally, staked ETH is locked and cannot be used in other protocols. ==Lido aims to solve these problems by providing non-custodial stake services==, which is the strength of the Lido platform to exchanges. In Lido, the user receives stETH token equivalent(1:1) to the amount of Ethereum staked, which can be used on other platforms.

Rocketpool

Rocket Pool is an Ethereum 2.0 stock pool. This protocol tries to lower the minimum amount of stake to provide the ground for staking the assets of ordinary users (with low assets), which will lead to decentralization and increase the security of Ethereum. To achieve this goal, Rocket Pool allows users to participate in the staking process as a group.

Since many staking platforms are often centralized and custodial (users have to give up control of their ETH), ==Rocket Pool is looking for a solution that allows users to stake even 0.01 Ethereum in cooperation with node operators.== Node operators on the protocol validate or attest to transactions in Ethereum 2.0 and to do so in Rocket Pool they must hold 16 Ethereum. All potential node operators are given an equal opportunity to delegate from users.

Ankr

Ankr is a Web3 decentralized infrastructure provider that helps developers, decentralized applications, and stakeholders easily interact with a set of blockchains.

Ankr aims to bring together several key features, including a platform where users can deploy nodes on Proof of Stake (PoS) blockchains, share their PoS tokens, and access decentralized finance (DeFi) applications, make Web3 adoption easier.

With Ankr's StakeFi, people can stake as little as 0.5 ETH, which is automatically directed to the highest-yielding pools. This platform, like Rocketpool and Lido, has developed a token (aETH) that eliminates the need to lock the staked Ethereum and users can use it on other platforms.

Lido

• In the graph on the right, we tried to show the relationship between the amount of ETH staked and the price of ETH over time. As you can see, at the local minimum price points, a large volume of ETH has been staked. The highest staked volume occurred on May 2, 2022, with a volume of 90,000 ETH.
• A total of 1.82 million ETH has been cumulatively staked on Lido.
• ETH staked over time is equivalent to $2.83 billion.
• This volume is staked by 52.8K unique wallets, which means an average of 34.4 ETH staked per wallet.
• And also these people have done 57K transactions to stake this amount. In other words, each wallet has done an average of 1.08 transactions.

Lido Vs RocketPool Vs Ankr

The distribution of stacked ETH is shown in the graph on the left. The ==horizontal axis shows the volume range== and the ==vertical axis shows the number of transactions==. The largest number of transactions is related to the volume between 1 and 10 ETH. 11.57K transactions are related to this interval. The second place with 10.8K transactions is related to the range of 0.1 to 1 ETH and the third place is related to the range of 0.01 to 0.1.

The noteworthy point is that 8,638 transactions occurred with a volume of less than 0.001, which is very significant considering the stake limits on Ethereum 2 and shows that Lido has done well in attracting low assets.

In this section, we compare all 3 platforms with each other.

We remind you again that you can change the analyzed period by using the parameter specified above.

Now we look at the last 30 days.

Observations:

Top left chart: The relationship between Ethereum price and the total staked volume is shown on 3 platforms: Lido, Rocket Pool, and Anker. As you can see, the lowest volume is at the peak of the price, and the highest volume of ETH is at the bottom.

Top middle chart: This chart shows the contribution of each platform in the amount of ETH staked. In the last 30 days, 55.3% are related to Rocket Pool, 42.6% are related to Lido and 2.15% are related to Anker.

Top right chart: The stacked volume is given based on its dollar value; the percentages have not changed much.

Introduction

Methodology

In this dashboard, we first explore Lido by the On-chain data and try to answer the questions mentioned above. Then we compare the Lido platform with Rocketpool and Ankr from different aspects and reach a final conclusion.

The data analyzed in this dashboard are:

• The volume of staked ETH
• The average amount of ETH staked per user and transaction
• Number of depositors
• Distribution of staked ETH
• Minimum, Maximum, and Median of ETH staked

It should be mentioned that the results related to the Lido platform are from the beginning until now, but in the next part, when we compare the platforms, you can change the period using the parameter specified at the top of the page, and see the results.

Analysis

• The ETH amount median staked on Lido is 0.1467
• The maximum amount of ETH staked on Lido is 50K.
• The minimum amount of ETH staked on Lido is near 0!

==Observation:==

• The largest volume of ETH is related to Rocketpool and Lido, and in the last 30 days, relatively less volume has entered Anker.
• The graph of the average staked ETH shows that the average amount in Rocketpool and Anker are much higher compared to Lido, so that on some days it is up to 47 ETH on Rocketpool and 22 ETH on Ankr.
• Also, the average ETH staked per user is much higher in Rocketpool and Anker compared to Lido.
• In general, in the last 30 days, ==5678 ETH has been staked in Rocketpool==, ==4371 ETH in Lido== and ==220 ETH in Anker==.

Observation:

In the last 30 days:

• the largest number of users or depositors is related to the Lido platform. Of course, between August 25 and 30, the number of users on the Rocketpool platform suddenly grew and reached 1,775.
• In general, in the last 30 days, the Lido platform has hosted 4983 users, the Rocketpool platform has hosted 4745 users, and the Anker platform has hosted 73 users.
• The number of transactions also follows the same pattern: the first rank is related to Lido with 5261 transactions, the second rank is related to Rocketpool with 4857 transactions, and the third rank is related to Anker with 76 transactions.
• In the graph on the left, the number of transactions on each platform in the last 30 days is shown. The size of the markers is based on the volume of the ETH stake. The highest volume occurred on August 17 on the Rocketpool platform. This amount has been done by only 7 wallets.

Maximum

• Lido: 655.7 ETH
• Rocket Pool: 1399 ETH
• Ankr: 34 ETH

Minimum

• Lido: ~ 0
• Rocket Pool: 0.01
• Ankr: 0.5

Median

• Lido: min = 0.001, max = 0.05
• Rocket Pool: min = 0.039, max = 1.62
• Ankr: min = 0.5, max = 28

Conclusion

1. The amount of ETH staked has an inverse relationship with its price, so that whenever the price decreases, the amount of Ethereum staked increases.
2. In terms of staked Ethereum volume, Rocket Pool and Lido are more popular platforms compared to Anker, but users who use Anker have a higher deposit average and it can be said that a certain type of user uses this platform.
3. In terms of the number of users, Lido is in a better position, but Rocketpool has also grown significantly. It seems that whales are more interested in the Rocketpool platform and compared to ordinary users, they use Lido more to stake their Ethereum.

Contact me

Thank you for being with me so far in this analysis. If you have any questions, you can ask through the following ways. I will be pleased to answer the questions.

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