Terra Delegator Churn
This dashboard looks at redelegations and the top validators and delegators by volume in/out.
Redelegations by whale delegators
This graph shows entries from delegators who have delegated over 1M USD over a one week time period. It’s difficult to tell how many of these addresses are redelegating during multiple weeks, so the following table was created to show how many weeks the delegators have made redelegations. Notice that only 1 whale has redelegated at least 1M USD for 5 weeks and that only a handful have done so more than once.
This next graph shows the voting power of the top source addresses who have seen at least 10M USD in any of the weeks over the past 4 months.
This next graph shows the voting power of these top destination addresses who have seen at least 10M USD in any of the weeks over the past 4 months. Notice again how much more voting power Orion.Money has compared to the other validators which is consistent with how much redelegated LUNA it has received over our window.
Introduction
There are a lot of things to consider when picking a validator when delegating your LUNA. For most novice users and others who are only considering making money, validators with no commission tend to be chosen at a higher rate than others due to the higher rewards. On the other hand, with the way governance votes work, only considering the returns is not healthy for a decentralized ecosystem. It is healthier to have a range of different validators to spread the voting power around.
Data
Transactions were first queried using terra.staking
then the transaction was parsed from terra.msgs
grabbing the destination and source validator addresses. To narrow down the amount of entries, minimum USD value threshold of 1M USD were used to find only the validators and delegators who are seeing high volumes of redelegations.
Destination validator: validator who is receiving the redelegated LUNA
Source validator: validator who is losing the redelegated LUNA
Redelegations by destination validator
Orion.Money saw the most consistent amount of redelegated LUNA > 1M USD week after week. Redelegated LUNA over the past month or so saw a consistent volume of LUNA being redelegated. Notice that the week of June 27th saw the highest amount of redelegated LUNA to dozens of different validators.