Introduction:

The stETH is the token that received by stakers of ETH on LIDO platform with 1:1 ratio. Now in this bounty we want to track the possible destination and usage of stETH by its users.

This analysis contains these steps:

1. First identify the sector of application (DEX or DeFi).
2. The DEXs that stETH is used should be obtained.
3. The DeFi programs that stETH users interacted with discovered.

Methodology:

To track the behavior of stETH users, the following tables are used:

1. The ethereum.core.ez_token_transfers table by joining ethereum.core.dim_labels as a destination.
2. The ADDRESS_NAME ilike '%stETH%'--> possible destinations of stETH
3. There is no restriction on time frame.

Outcomes:

As shown in this donut, the 87.9% of stETH users interacted with DEX sector and 12.1% of them use DeFi programs.

The application of DEXs contains, providing liquidity to pools and making swap.

The liquidity pools that stETH used are listed in the next table. According to that table, 22 pools on various platforms are available for stETH application.

The most used DEXs by stETH users are shown in the donut and bar charts.

Based on these charts, the Curve Fi is the leading DEX and Uniswap stands in the second place.

Now talk about DeFi programs used by stETH users.

By considering the number of interaction, the Yearn lead the DeFi programs but in term of amount of stETH, the Abracadabra money has dominant performance among DeFi programs. Additionally, the Ribbon Finance takes the second place by amount of stETH sent by users.

The application of various programs by stEH users over time is shown in this area chart.

As shown in this chart, the Curve fi has the largest space and dominate the application by stETH users. Also, the application of Uniswap and Sushiswap could not be ignored as shown in this chart.