Methodology

• For finding all the ETH metrics we look at all the ETH transfers to the given Staking Platform addresses and we filter by identifier = 'CALL_ORIGIN' to filter for staking transactions.
• We then join the amount with the prices table to get the $USD value of the staking transactions.
• We are only analyzing the metrics for the past 60 days.
• We look at both the metrics in terms of $ETH and $USD.

Cumulative ETH Staked over time

• Direct staking has by far the most amount of ETH staked over time in the past 60 days.
  • A cumulative value of 431M $USD or 293.6K $ETH
• Lido comes in second with 27.6K $ETH staked vs 44M $USD worth of $ETH staked.
• Other platforms like Stakewise or stkr or rocket_pool have less staking as compared to these platforms, however rocket pool looks promising, at it has gained a lot of new users over time.
• Rocket Pool seems to have had about 14M $USD worth of ETH staked until Aug 28, 2022, however after that seems like we have missing data.

How many unique depositors are there?

• Overall there were around 400 unique depositors overall daily, however last week of August saw a huge spike especially thanks to rocket pool.
• We saw as many as 1.7K users on Rocket pool alone on 26th Aug, 2022.
• Lido has the most unique depositors overall, with 12K unique wallet depositors, the second most unique users on a platform are 4.4K users on rocket pool.

How likely are depositors to use multiple platforms vs using a single platform?

• Majority of the depositors are using a single platform around 16K out of the total 18K
• However, there are about 1.5K depositors that use multiple platforms out of the total 18K.
• Seems like platforms have a certain stickiness which turns user into mostly using just 1 platform.

Avg/median/max/min/distribution of ETH deposits? Are depositors Dollar cost averaging their ETH into the platforms?

• Given below are all the ETH Metrics requested.
• Direct Staking has the highest metrics of the lot with there being mostly transactions for 32 $ETH median and minimum both.
• The Maximum ETH deposited is 63.9K ETH on direct staking.
• For all the other platforms the median, average and min ETH deposited is quite less.
• From the distribution Majority of the deposits for LIDO and Rocket Pool are between 0-1 $ETH, few between 1-10 $ETH and even fewer between 10-50 $ETH.
• The overall

Conclusion

• Direct staking clearly has the most amount of $ETH staked.
• Rocket Pool and Lido are the other popular platforms that have the most ETH staked.
• Lido has the most number of unique users, most likely it being the oldest of all the platforms.