Try Quests to earn crypto$THOR Staking Wallets
Q90. Since vTHOR and THOR Staking 2.0 was released in May, we’re interested in finding out more about how the community has embraced the staking rewards. How many unique wallets have staked $vTHOR? Chart this number over time.
Introduction
In this relatively short dashboard, I will investigate how much the community has embraced the staking rewards provided by ThorChain. I will look into the count of unique wallet IDs that have staked $THOR since it has been launched in May 2022. I will also look at the overall picture - how much $THOR has been staked in total as well as how that amount looks like on a daily basis.
We can see that ThorChain's new option of staking has been quite popular since its launch, with almost 40M of $THOR being staked! Let's see now how this sum has been accumulated over time by looking at a daily chart of $THOR staking.
We can see here that the biggest interest in staking $THOR has been on the 4th of May 2022. The total amount staked on that day was 15.77M $THOR.
By looking at the second graph, we can see how the overall trend of the amount staked behaves in comparison to the net amount staked. After the initial interest, the net amount staked seems to be slowly decreasing over time - this could be caused by the speculation in the crypto market and the interest rates still rising in many parts of the world, meaning that not as many users have the liquidity available to stake $THOR.
We can see that the biggest interest and the biggest number of new users incoming to stake $THOR has been on the first day - 4th of May 2022. After that, the number of stakers has been decreasing...
Lastly, we can see that on the first day, the average amount per each stake was around 2.66M, which is a big number! This also means that ThorChain's staking option has attracted people who have a lot of liquidity, possibly whales too. However, the average amount of $THOR staked has been decreasing since the launch and is now pretty low - at around 15k (on the 19th of May 2022).
Summary
This dashboard has looked into how $THOR staking has been attractive to users. I have looked into the daily amount being staked, as well as the average amount per each staking transaction and the total amount staked. We can see that the initial interest has been quite large, but sadly, it has been declining and it seems to me that new users don't see staking $THOR as an exciting opportunity, as much as they did at the beginning of the month.