Try Quests to earn FLOWFLOW's Path To Decentralization
Introduction
Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. Flow also has a native cryptocurrency that trades under the symbol FLOW [1].
Operators of nodes are often referred to as node operators. A node operator must acquire tokens before they may link their software applications on the network. To ensure that node operators don't break the rules of the network—for example, by stealing money from user accounts—they must temporarily hand over (or "stake") a big portion of their tokens.
Staking refers to the temporary relinquishment of tokens.
Flow tracks node operators. The list includes each node's public key, address, and kind. (Collection, Consensus, Execution, or Verification)
Node operators register nodes by submitting a transaction with node information and FLOW to stake. If they meet the node requirements, they can join the network.
Once a node is staking and operating properly, it will receive periodic reward payments if it stays online, actively participates in the protocol, and doesn't commit slashable offenses. Nodes must operate for a protocol-specified time after registering [2].
Method
In the current dashboard, tried to analysis of staking actions and delegators behaviour on FLOW.
In order to this, the flow.core.ez_staking_actions table was userd as main table, that filtered columns by
There are several type of actions on this table which I have classified them into 3 overall types:
WHEN action in ('DelegatorTokensCommitted','TokensCommitted') THEN 'Stake'
WHEN action in ('DelegatorUnstakedTokensWithdrawn','UnstakedTokensWithdrawn') THEN 'UnStake'
WHEN action in ('DelegatorRewardTokensWithdrawn','RewardTokensWithdrawn') THEN 'Claim Reward'
- There have been 1,036,200,000 FLOW tokens in circulation as coingecko.
- Time frequency have been selected in weekly, but it can be ==changed== by header tape.
✍🏻 Conclusion
how much total $FLOW is staked?
> The amount of 0.699B FLOW is staked in net state.
How much $FLOW is staked/unstaked per day?
> There was a spike in third week of Dec 2020, that was the all-time high of stake volume with 680M FLOW. this repeated third week of Mar, 2021. In the other hand the UnStake volume peaked at 637.7M FLOW in first week of Feb 2021. the huge Unstaking volume repeated in First week of Sep & Oct, 2021 with 210.9 & 94M FLOW, respectively. alongside of these spiked week, other weeks hadn’t have significantly volume to stake or unstak over time.
How many unique stakers there are?
> There are 38K unique Staker and 10.8K Unstakers
What is the amount of $FLOW staked vs. $FLOW circulating?
> The amount of 0.699B FLOW is staked against to amount of 1.036B FLOW that is in circulating.
Overall, can resulted that The FLOW's Path To Decentralization is smooth.
And finally, I’m glad to share this research with those who care about this issue via Twitter Link, and will be pleased by your comments.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
FLOW's Path To Decentralization
Flow is becoming more permissionless! Flow’s long-term vision is to optimize for security and scalability and move toward decentralization over time. With the release of permissionless contract deployment and new nodes for staking, build an analysis around the state of staking on Flow.
Display the progress toward decentralization, answering questions like (but not limited to): how much total $FLOW is staked? How much $FLOW is staked/unstaked per day? How many unique stakers there are? What is the amount of $FLOW staked vs. $FLOW circulating?
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I'm Hamed, a civil engineering Ph.D.
student interested in data analysis.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please take a look at my various contact details and let me know what you think.
:mag_right: Findings:
As can be seen in the charts above, except some weeks like third week of March, first week of May, fourth week of Jun and etc, rest of week the Stake transactions count increased over time, that was repeated pattern on unique Staker cunt.
In terms of volume, can be observed there was a spike in third week of Dec 2020, that was the all-time high of stake volume with 680M FLOW. this repeated third week of Mar, 2021. In the other hand the UnStake volume peaked at 637.7M FLOW in first week of Feb 2021. the huge Unstaking volume repeated in First week of Sep & Oct, 2021 with 210.9 & 94M FLOW, respectively. alongside of these spiked week, other weeks hadn’t have significantly volume to stake or unstak over time.
:mag_right: Findings:
The new user have been compared to Unstakers count, unstake volume and new nodes over time in three charts above right. as of these charts can be seen the new users are greater than all three aforementioned metrics. totally nearly 40K new user came into staking activities over time.
Also the new nodes and weekly count of nodes are shown in the above chart. till last week of Apr, 2021, weekly count of nodes wasabove 320, then suddenly dropped to nearly 50 per week and increased to above 100 in first week of Nov, 2021 and stayed steadily to date.
:hourglass_flowing_sand: Distribution of Transactions count, User Count & Volume per Nodes
The following section deals with Node’s State in terms of total count of transactions count and unique users and total staked volume.
:mag_right: Findings:
398K transactions took place to stake 1.95B FLOW, 1.254B of staked tokens Ustaked by 34K transactions, that led to 0.699B stake net volume.
So, by considering 1036200000 FLOW tokens in circulation, 67.5% of its circulating supply is currently staked in 423 distinguished nodes.
:hourglass_flowing_sand: Staking Metrics Over Time
The visuals in the sections below preset the staking metrics include: Unique stakers/UnStakers, transactions count, volume etc…, over time.