Try Quests to earn cryptoCOSMOS hub: Top delegators behavior
32.43% of the delegated volume is related to the top 8 Delegators and the remaining 67.57% is related to others.
Among the top 8 Delegators, the address "cosmos10f8g9ahz3nnt2h8ceyrw30suzpc2sc0xd0c57h" has the most delegated volume. These Delegator have approximately 11.37% of the delegated volume. Also, the volume delegated by the top Delegator (24.437M) is almost 2.5 times the volume delegated by the second-best Delegator (10.08M). Other top Delegators are displayed in the charts.
The weekly graph of volumes delegated by the top Delegators shows that in the second week of January 2022, approximately 8 million atoms were delegated by the second top Delegator "cosmos1p3ucd3ptpw902fluyjzhq3ffgq4ntddac9sa3s" (red color). Also, in the first 5 months of 2022, the third-best Delegator (purple color) delegated more volumes than other Delegators. But from the beginning of September 2022, we will see an increase in the volumes delegated by the top Delegator (yellow color). The change statistics of other Delegators can be seen in the chart.
popular validators by delegated $ATOM among top 8 Delegators
In the donut chart, you can see popular validators among the top 8 Delegators. Based on the amount of $ATOM they delegated. The most popular validators among the top 8 delegators are Binance Staking, which accounts for approximately 21% of the volume delegated by the top 8 delegators. Also, Coinbase Custody is the second best validator and approximately 19.5% of the delegated volume of top Delegators was in it. Statistics of other top validators are shown in the donut chart. In the weekly chart, it is noteworthy that $8.126M ATOM was delegated to Binance Staking validators in the second week of January 2022 by the top 8 Delegators. This volume is almost 80% of the volume delegated by top Delegators all the time. Other volume changes delegated by the top 8Delegators to popular validators are displayed in the chart
popular validators by delegated $ATOM among other Delegators
In this donut chart, you can see popular validators among other Delegators. The top validator among the most popular is SG-1, which accounts for approximately 18.09% of the volume delegated by other Delegators. Also, Binance Staking validators are the second most popular validators among other Delegators. As in the previous explanation, on the date of the second week of January 2022, we will see the delegation of a large amount of $ATOM in Binance Staking, in which approximately 8 million have been delegated by other Delegators. In the last months of 2022 and the first months of 2023, we will see an increase in the amounts delegated by other Delegators.
Cosmos
Cosmos (ATOM) is a decentralized network of independent blockchains, each powered by Byzantine Fault-Tolerant (BFT) consensus algorithms. $ATOM is the native staking token of the Cosmos Network. The Cosmos vision is to build an “internet of blockchains” that can scale and interoperate with one another.
Cosmos Validator
The Cosmos Hub is based on Tendermint which relies on a set of validators to secure the network. The role of validators is to run a full node and participate in consensus by broadcasting votes that contain cryptographic signatures signed by the validator's private key. Validators commit new blocks in the blockchain and receive revenue in exchange for their work. Validators must also participate in governance by voting on proposals. Validators are weighted according to their total stake.
Cosmos Delegator
Delegators are ATOM holders who cannot, or do not want to, run a validator themselves. ATOM holders can delegate ATOM to a validator and obtain a part of their revenue in exchange. Because delegators share revenue with their validators, they also share risks. If a validator misbehaves, each of their delegators are partially slashed in proportion to their delegated stake. This penalty is one of the reasons why delegators must perform due diligence on validators before delegating. Spreading their stake over multiple validators is another layer of protection.
Delegators play a critical role in the system, as they are responsible for choosing validators. Being a delegator is not a passive role. Delegators must actively monitor the actions of their validators and participate in governance
Approach
Method
In this dashboard, we will use Flipsidecrypto’s database to get deep into the top delegators behavior on Cosmos.
This analysis will compare top delegators regarding delegate & Redelegate activities over time.
Dashboard sections :
- COSMOS Hub: General Info about delegation
- Delegation volume ($ATOM) among top 8 Delegators vs. others
- Popular validators based on delegated volume ($ATOM) among top 8 Delegators vs. others
- Top 8 delegators: Spreading stake over multiple validators
- Redelegating among top delegators
In this section, we examined the distribution of shares of the top 8 Delegators in different validators. In the diagram on the left, we show how many validators the 8 delegators have delegated their assets to. The top delegator (cosmos10f8g9) has delegated his assets to 56 different validators. The second top Delegators have delegated their assets to only 3 validators. Also, ranks 4, 6, and 8 among the top 8 Delegators have delegated their assets to only one validator. But the fifth top Delegators (cosmos1l267d) has chosen 208 validators to delegate. The 3rd top Delegators have 7 validators and the 7th top Delegators have chosen 62 validators to delegate their property.
But in the graph on the right, you can see the percentage of volumes delegated by the top 8 delegators in the 8 popular validators. The noteworthy note is the three Delegators ranked 4, 6, and 8, each of whom has delegated their assets only in Kraken, Coinbase Custody, and DACM validators, respectively. You can see other statistics in the chart.
In this section, we show the number of redelegate transactions by the top 8 Delegators. Top delegators have had few redelegate transactions. Only the fifth top Delegators had 22 redelegating transactions, and after that, the highest number of redelegates is related to the number one rank of top Delegators. In the graph on the right, we showed how many redelegates were transferred to other validators. You can see the number of redelegating and their next destinations in the chart. The noteworthy point is that this redelegate is done to transfer to other validators.
The donut chart on the left shows that validators Binance node and Kraken are the most popular destinations of the top 8 Delegators after redelegate.
The donut chart on the right shows the top popular routes after redelegate. The most popular route is Kraken to Kraken, which is the route of approximately 52% of redelegated volumes. It means that the origin is Kraken and the destination is Kraken. For example, asset "A" has been redelegated in Kraken, and then later on, it has become asset "B" and has been re-delegated in Kraken's validators. The transfer was within the network and only the contract has changed. The second most popular route, which accounts for 46%, is the Binance staking to Binance node route. that the two validators are separate from each other.
Conclusion
The results show that the total number of Delegators is approximately 538K. Also, the total delegated $ATOM is 215M. Of this delegated volume, 32.47 percent is related to the top 8 Delegators and the other 67.57 percent is related to other Delegators. Among the top 8 Delegators, "cosmos10f8g9ahz3nnt2h8ceyrw30suzpc2sc0xd0c57h" is the top Delegator, which is approximately 11.37 percent of the delegated volume (24.437M) by this Delegator is delegated to 56 validators. Also, the 1st rank delegator has delegated almost 2.5 times more than the 2nd rank. From the beginning of December 2022 to February 2023, the most delegated volumes among the top 8 Delegators are related to rank 1. In the following, we showed which are the most popular validators for the top 8 Delegators. Among them, Binance Staking and Coinbase Custody were the most popular. Also, the most popular validators for other Delegators have been SG-1 and Binance Staking respectively. Also, the results showed that the fifth top delegator has delegated his assets to 208 validators, and in contrast to the 4th, 6th, and 8th ranked delegators, each has delegated his assets only to Kraken, Coinbase Custody, and DACM validators, respectively. The top Delegator has divided its holdings among 56 validators. Also, in another section, we showed how many redelegate transactions the top 8 Delegators had and how many of them were the destination of other validators. In general, the number of redelegate transactions among the top 8 Delegators has been limited. Finally, we showed that the two most popular destinations of Delegators who redelegate are Kraken and Binance node validators, which are the destinations of 98% of redelegate volumes. Also, among the popular routes after redelegate, the two routes from Kraken to Kraken, which are internal transfers, and Binance Staking to Binance node are the most popular routes.
Author
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