Introduction

Lido is a staking protocol that allows for liquid staking of multiple assets such as Ethereum, Terra and Solana. Normally, the coins that you are staking are locked and cannot be used for anything else. With Lido, users are able to stake their assets and get a token in return that can be used to redeem their staked assets. This is called liquid staking as this new token can be used freely. For Ethereum, this token is called stETH (staked ETH).

Rocketpool is a similar staking solution. It's staking token is called rETH.

In this dashboard, we'll compare the daily deposits (ETH staked) on the two protocols over the last 90 days.

Methodology

1. Find the daily deposits for both Lido and Rocketpool. This was done using the table ethereum_core.fact_event_logs in combination with the contract addresses for stETH and rETH: 0xae7ab96520de3a18e5e111b5eaab095312d7fe84 and 0xae78736cd615f374d3085123a210448e74fc6393 respectively.
2. Then we filter for depositing using the event_name table. For Lido we use event_name = 'Submitted' and for Rocketpool we use event_name = 'TokensMinted'.

Results

From the two graphs above, we can see that Lido and Rocketpool are not really comparable. In the daily deposits chart, we can bearly see the numbers for Rocketpool. To make this difference more obvious, we also plotted the cumulative amount of ETH that was deposited into the two platforms over the last 90 days. We can see that about 52K ETH was deposited into Rocketpool while about 1.9M ETH was deposited into Lido. That is almost a 40x difference.

Key findings

• Over the last 90 days, about 52K ETH was deposited into Rocketpool while about 1.9M ETH was deposited into Lido.