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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Liquid staking

StakeWise

# StakeWise Active users (daily) Methodology

## 1. Overview

The StakeWise daily active users (DAU) metric measures the number of distinct users who interact with StakeWise liquid staking protocols on any given day. This includes users who deposit ETH for staking, enter exit queues, or withdraw their stakes across StakeWise's solo staking and pool staking products on Ethereum and Gnosis chains. The metric provides insight into daily user engagement with StakeWise's liquid staking services.

## 2. Data sources

The calculation relies on multiple blockchain data sources:
- **Ethereum beacon chain events**: Parsed `DepositEvent` events from the beacon deposit contract containing validator registration data
- **Ethereum transaction traces**: Transaction trace data linking beacon deposits to originating user addresses
- **Ethereum beacon chain blocks**: Block withdrawal data containing validator withdrawal information
- **StakeWise contract events**: Parsed events from StakeWise v1 and v3 contracts including `DepositAdded`, `Deposited`, and `ExitQueueEntered` events across solo and pool staking products
- **Token transfer events**: ERC-20 token transfer events for sETH2 (Ethereum) and sGNO (Gnosis) tokens representing pool staking positions
- **Migration events**: Parsed `Migrated` events from StakeWise v3 contracts identifying token migrations between protocol versions

## 3. Step-by-step calculation

### Component A: Contract event users
- **Purpose**: Identifies users from direct contract interactions with StakeWise protocols
- **Logic**: Extracts user addresses from various StakeWise contract events across v1 and v3 deployments. For solo staking, captures `DepositAdded` events from the Solos contract using the `sender` field as the depositor address. For pool staking, captures `Deposited` and `ExitQueueEntered` events from EthGenesisVault and EthVault contracts using the `receiver` field. Classifies users as either "Depositor" or "Withdrawer" based on the event type.
- **Key fields**: `sender` and `receiver` addresses from contract events, `block_timestamp` for timing, event-specific parameters for user classification

### Component B: Solo staking withdrawers
- **Purpose**: Identifies users withdrawing from solo staking through beacon chain withdrawals
- **Logic**: Links beacon chain validator withdrawals to known StakeWise validator accounts. Processes beacon chain block withdrawal data, filtering for withdrawals from validators that belong to StakeWise (identified through validator index mapping). Only includes withdrawals with positive amounts, excluding zero-value partial withdrawals. Creates synthetic user records with "Withdrawer" classification since beacon withdrawals don't generate contract events.
- **Key fields**: `account_address` from withdrawal data, `amount` for filtering positive withdrawals, `validator_index` for StakeWise validator identification

### Component C: Pool v1 token users
- **Purpose**: Captures pool staking users through sETH2 and sGNO token minting and burning
- **Logic**: Identifies depositors through token mints (transfers from null address `0x0000000000000000000000000000000000000000`) and withdrawers through token burns (transfers to null address). Processes sETH2 tokens on Ethereum and sGNO tokens on Gnosis chain. For withdrawers, excludes transactions identified as v1 to v3 migrations to avoid double-counting users who are simply upgrading protocol versions rather than truly withdrawing.
- **Key fields**: `from_address` and `to_address` from token transfers, `token_address` for filtering specific StakeWise tokens, `transaction_hash` for migration filtering

### Component D: Validator data processing
- **Purpose**: Maps beacon chain validator data to StakeWise accounts and processes deposit information
- **Logic**: Extracts validator deposit data from beacon chain events, performing complex byte array conversions to decode deposit amounts and validator indexes from hexadecimal format. Reverses byte order and converts to integer values for proper data interpretation. Joins deposit events with transaction traces to identify the originating user addresses. Maps validator public keys to sequential validator indexes and links them to known StakeWise deposit accounts.
- **Key fields**: `pubkey` for validator identification, `amount` after decimal conversion, `deposit_address` linking to user accounts, `deposit_index` for validator sequencing

### Final aggregation
- **Combining components**: Union all user activity sources (contract events, beacon withdrawals, token transfers) into a single user activity dataset with consistent schema including chain, product type, user type, and user address
- **Time aggregation**: Truncate all timestamps to day-level granularity using `timestamp_trunc(block_timestamp, day)` to create daily boundaries
- **User deduplication**: Apply `distinct` operation on the combination of date, chain, user type, market sector, business segment, product, and user address to count each unique user only once per day regardless of multiple interactions
- **Final calculation**: The daily active user count represents the number of distinct user addresses that had any interaction with StakeWise protocols on each day, segmented by product type (solo vs pool staking) and interaction type (depositor vs withdrawer)

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

Unique revenue-generating users over a fixed 24-hour window.

StakeWiseSWISE

Active users (daily)

Active users (daily)

Competitive landscape

Chain breakdown