MonkeDAO Validator

    The MonkeDAO was the first NFT DAO on Solana and also was the first NFT DAO to set up a validator in an effort to help decentralize and secure the network. When a user decides to stake their Solana, they delegate which validator to support with their staked Solana. How many unique wallets since February 1st have decided to delegate their staked Solana to the MonkeDAO validator? Create a visualization showing delegations per day.

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    Introduction to Validators

    A validator is one of the basic building blocks of the Solana blockchain. They are servers running specialized software that helps secure each and every transaction. From minting an NFT to exchanging tokens on a DEX, the reason you can trust that any action you take on Solana will succeed and be recorded is because of the work validators do behind the scenes.

    MonkeDAO is a completely independent, community-organized DAO. The DAO's focus to showcase its principles while securing the blockchain was to contribute to its community of validators. Their goal is to highlight the positive, constructive aspects of crypto while serving as a resource for the entire Solana ecosystem.

    MonkeDAO Validator Metrics

    The purpose of this dashboard is to present metrics on delegations to MonkeDAO since February 1, 2022. This data could be insightful to prospective MonkeDAO members, crypto VCs, and Solana fanatics in general.

    Summary of Findings

    We have introduced readers to who validators are and their role in the Solana ecosystem. We analyzed metrics of the MonkeDAO validator including unique delegators and the number of delegations over time. We also analyzed the amount of SOL being staked over time and here is the summary of our findings:

    • There are 36 unique delegators so far since February 1, 2022.
    • The average number of delegations per day stands at 2.
    • There has been as low as 0 SOL delegated, to as high as 1,000 SOL delegated on a single day.
    • There is no correlation between delegation frequency and total amounts delegated.

    Our first metric is the number of unique wallets that have delegated staked Solana to MonkeDAO. These unique wallets are proxies for unique users backing the MonkeDAO project via stake delegation. A large number of unique wallets in a short time is a strong indicator of adoption.

    There are about 36 new unique stakers delegated to MonkeDAO since the start of February. It is February 16 now at the time of analysis, which means that there are at least 2 new delegators daily.

    The next metric coming up is "Daily MonkeDAO Delegations" as we want to see how delegation frequency has changed over time. Showing delegation frequency over time helps to narrow down into specific events at a particular time that could have influenced delegations.

    As you can see, the daily frequency of delegations is hoovering about the average of 2. We have an outlier on February 10, 2022, where there was a total of nine (9) delegations. For February 4, 2022, there were no delegations recorded on the day.

    With the numbers from daily delegations, we are curious to dig deeper into the actual amounts staked on these various days. The next metric is about the amount of Solana delegated daily to MonkeDAO.

    The day with the highest stake amount delegated since February 1, 2022, was February 8 (1,000 SOL), although there were only two delegation events on the day. February 10, which recorded the highest number of delegations was one of the days with the least staked amount (27.15 SOL).