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).

In this dashboard, we'll determine the most common pools to exchange stETH.

Methodology

1. determine all contract addresses of stETH pools:

2. Using the table ethereum_core.ez_dex_swaps, retreive all the swaps using the above contract addresses.
3. use count(distinct(tx_hash)) to find the total number of transactions per pool, count(distinct(sender)) to find the total number of wallets that interacted with a pool, sum(amount_in_usd) to determine the total swapping volume of the pool.

Results

We can see that there are five pools that are actively being used to swap stETH. The largest by number of transactions being the stETH-WETH LP on Uniswap.

We can see that the total number of unique users per pool is quite similar across these 5 pools.

However, when it comes to swap volume, the DAI-wstETH LP is clearly the largest.

Key findings

• There are 5 pools that are commonly used to swap stETH.
• The stETH-WETH LP is the largest by the number of transactions
• The DAI-wstETH LP is the largest by total swap volume