Stakers deposit funds into StakeWise and receive a return on investment in the form of staking rewards (supply-side fees).

StakeWise is a non-custodial staking protocol built on Ethereum. StakeWise was founded by Dmitri Tsumak & Kirill Kutakov and launched in 2021.

SWISE tokenholders own and govern the protocol. They currently take a cut of the total return on investment (revenue). StakeWise’s investors include Blockdaemon, Boldstart Ventures, Collider, etc.

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StakeWise

# StakeWise Assets staked Methodology

## 1. Overview

Assets staked measures the total value of ETH staked across all StakeWise staking products, including v1 pooled staking, v3 vault staking, and solo staking services. This metric captures the amount of ETH that StakeWise has deposited to the Ethereum beacon chain on behalf of users, representing the protocol's total staking exposure. The calculation combines data from multiple StakeWise products and versions, tracking both pooled staking through liquid staking tokens and dedicated solo staking validators.

## 2. Data sources

- **Beacon deposit events**: Parsed `DepositEvent` events from the Ethereum beacon chain deposit contract containing validator public keys, deposit amounts, and indexes
- **Transaction traces**: Ethereum transaction trace data showing ETH transfers to the beacon deposit contract, used to identify StakeWise-controlled deposits
- **Block withdrawal data**: Ethereum block withdrawal records from the beacon chain containing validator withdrawals and partial reward distributions  
- **StakeWise v3 state data**: External state data tracking total assets and withdrawable assets for StakeWise v3 vaults
- **StakeWise v1 state data**: External state data containing total supply values for v1 staking tokens
- **Token metadata**: Token addresses and symbols for WETH and staking tokens
- **End-of-day price feeds**: Daily ETH/USD exchange rates for currency conversion

## 3. Step-by-step calculation

### Component A: V3 vault staked assets
- **Purpose**: Calculate ETH staked in StakeWise v3 vaults by determining assets actively deployed to validators
- **Logic**: Extract `total_assets` and `withdrawable_assets` from StakeWise v3 vault state data. Calculate staked assets as total assets minus withdrawable assets, representing the portion deployed to validators rather than sitting idle. Apply a floor of zero to handle negative values that can occur during migration periods when previously staked v1 tokens are counted as withdrawable but not yet reflected in total assets
- **Key fields**: `total_assets` (total vault holdings), `withdrawable_assets` (idle funds available for withdrawal), calculated `amount` as the difference representing actively staked ETH

### Component B: V1 staking token supplies
- **Purpose**: Track ETH staked through StakeWise v1 liquid staking tokens
- **Logic**: Extract `total_supply` values directly from StakeWise v1 staking token state data. Each token represents staked ETH in the v1 system, so total supply equals total staked amount. Convert from wei to ETH by dividing by 10^18
- **Key fields**: `total_supply` (total tokens in circulation), `token_address` (staking token contract), `native_token_address` (underlying ETH token address)

### Component C: Solo staking beacon chain balances  
- **Purpose**: Calculate ETH staked through StakeWise's solo staking service by tracking validator deposit and withdrawal flows
- **Logic**: Identify StakeWise-controlled deposits by matching transaction traces to the beacon deposit contract from known StakeWise account addresses. Extract deposit amounts from beacon `DepositEvent` logs, converting hexadecimal values to integers through byte reversal and decimal adjustment. Track withdrawals by matching beacon block withdrawal data to StakeWise validators using validator indexes derived from deposit events. Classify withdrawals as either full stake amounts (32 ETH multiples) or partial rewards. Calculate daily net flows (deposits minus withdrawals) and compute cumulative running balance over time
- **Key fields**: `deposit_index` and `amount` from beacon deposits, `validator_index` and withdrawal `amount` from block data, cumulative `amount` representing current beacon chain balance

### Component D: Validator identification
- **Purpose**: Link beacon chain validators to StakeWise accounts for withdrawal tracking
- **Logic**: Process beacon deposit events to extract validator public keys and deposit indexes. Convert hexadecimal deposit indexes to integers using byte reversal operations. Assign sequential validator indexes based on deposit order. Match deposit addresses to known StakeWise account addresses to identify StakeWise-controlled validators
- **Key fields**: `pubkey` (validator public key), `validator_index` (sequential validator number), `deposit_address` (account that made the deposit)

### Final aggregation
- **Combining components**: Sum all three components (v3 vault staked assets, v1 token supplies, and solo staking balances) grouped by timestamp, chain, and product metadata
- **Currency conversion**: Convert ETH amounts to USD using end-of-day ETH/USD exchange rates, applied after all ETH calculations are complete
- **Time aggregation**: Aggregate all data to daily boundaries using timestamp truncation, fill missing dates with zero values using forward-fill strategy
- **Final calculation**: The final assets staked value represents the total USD value of ETH staked across all StakeWise products, providing a comprehensive view of the protocol's total staking exposure

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of assets staked or restaked through the project.

StakeWiseSWISE

Assets staked

Assets staked

Competitive landscape

Chain breakdown