[H_N]

For transition metals acting as catalysts, oxidation/reduction potential seems to be a primary factor in catalytic ability. However, does the oxidation potential of a transition metal also impact its catalytic ability as a compound, and how? For example if Iron Sulphate is acting as a catalyst, and the primary reagent is reduced, would it be correct to state that Fe 2+ temporarily acts as an reducing agent? If so, what is the half equation and standard oxidation potential of fe 2+ in this situation?

[Enthalpy]

If the catalyst acts as a solid by its surface, the oxidation potentials are not relevant. It's more a matter of adsorption and chemical bonds to a surface.

I imagine (but can be horribly wrong) that the oxidation potential matter when said transition metal is in an ionic solution, and are accurate only in water.