Question:

Choose 1 liquid staking provider (Ankr / Lido / rocketpool, etc) and answer the following question:

• How much ETH was staked?
• How many unique depositors are there?
• What is the avg/median/max/min/distribution of ETH deposits?

In this investigation, the StakeWise platform has been selected as a liquid staking provider and answer the above questions.

This dashboard has been refreshed in the daily basis and provide comprehensive analyze on StakeWise platform.

Staking ETH 2.0:

In general, anyone is allowed to participate in staking on any blockchain that performs Proof of Stake – PoS. Different types of PoS enable people to participate in this process.

==Ethereum has chosen this strategy to decentralize and speed up the network, and since its inception, it has operated on the basis of a proof-of-work consensus. However, one of the main reasons for switching to Proof of Stake is that it is much more efficient than the Proof of Work algorithm.==

What is Stakewise?

> StakeWise is a liquid Ethereum 2.0 staking service that allows anyone to benefit from the yields available on the Beacon Chain. StakeWise runs secure and stable institutional-grade infrastructure, combined with unique tokenomics, to provide the highest possible staking yields for its users. As a liquid staking platform, users are free to un-stake at any time or utilise their staked ETH capital to earn enhanced yields throughout DeFi. There is no minimum ETH requirement to stake with StakeWise and the platform fees are the lowest seen across the industry.

Part 1: General stats

Part 2: Daily stats

Key findings:

The outcomes related to the weekly analysis of staking on StakeWise platform have been provided in this sections:

• The start point of working StakeWise was January 25th, 2021.

• The week between March 28 to April 4, 2022 has the highest volume of stake with 13.128k ETH.

• The number of stakes and stakers have been followed the decreasing pattern over time but as can be seen on the first half of May 2022 increased in comparison with previous days.

• The highest average stake volume happened on May 28 to April 4, 2022 with 222.5 ETH.

• The highest net change in stake volume happened exactly on April 4 to 11, 2022.

• The cumulative volume of staked ETH on StakeWise has been illustrated the breakpoints on special weeks.

• The cumulative graph related to the number of unique stakers has been followed the consistent pattern with increasing gradient.

Part 3: Behavior of stakers

Key findings:

The final part has been shown the behavior of stakers on StakeWise and the consequences are as below:

• Most of the users (2405 unique stakers) have been staked under 1 ETH on StakeWise and its the largest group of users.
• Also as can be seen, the distribution of users based on the count of stake reveals the domination of users with only 1 time stake on StakeWise with near 70% of stakers.
• It can be concluded that, most of the stakers on StakeWise have quite noob on staking ETH 2.0 and they staked only 1 times and below 1 ETH.

References and useful links:

• Introduction to ETH 2.0 staking
• Stakewise official website
• Stakewise docs

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani

Methodology:

The data provided by Flipside has been used to handle this analysis.

The ethereum.core.ez_token_transfers has been used to find out the required metrics.

• The contract address of StakeWise is:

0xC874b064f465bdD6411D45734b56fac750Cda29A

• The distribution of users has been done by:

  when stake_vol<1 then 'a. under 1 ETH' when stake_vol>=1 and stake_vol<3 then 'b. between 1-3 ETH' when stake_vol>=3 and stake_vol<8 then 'c. Between 3-8 ETH' when stake_vol>8 then 'd. Over 8 ETH'