Tracking the Top Saber Lockers

    Introduction

    Saber is an automated market maker (AMM) built on Solana that provides cross-chain liquidity for stablecoin pairs such as UST/USDC. Liquidity providers earn yield in the form of the protocol’s native SBR token.

    Until recently, the core development team set the reward allocations for each liquidity pool. Now that protocol governance is live, these decisions are in the hands of the community - SBR token holders. In order to cast votes for which pool(s) should receive rewards (via the “gauges”), users must lock SBR tokens to receive voting escrowed Saber - veSBR. Locking SBR for longer periods (5yr maximum) grants the token holder more voting power - more say in which liquidity pool gets the most SBR rewards.

    Once votes are cast and the next epoch begins, the new rewards distribution is applied to the liquidity pools. 1 epoch = 1 calendar week. As of March 3, 2022, nearly 38% of the total SBR token supply is locked in protocol Governance.

    In this dashboard, we shall analyze the data revolving around SBR lockup in the Saber lockers.

    SBR Lockup Over Time

    The first SBR lockup epoch began on January 21, 2022, and since then there have been 7 epochs till now. The change in how SBR has been locked up over time is an interesting metric because we get an idea of how the program is growing over time. The line graph below shows the amount of SBR locked up over time since Epoch 1.

    Loading...
    Loading...
    Loading...
    Loading...

    Top 20 Lockers

    What are the wallets with the most amounts of SBR lockups in February? In the chart we present the top 20 solana wallets, who locked up the most SBR in the month of February.

    There were a total of 7.1M+ SBR locked up in Epoch 1, 7.7M+ in Epoch 2, and 6.2M in Epoch 3. Epoch 4 saw an astronomical number of lock-ups with 34.1M. Lockups for Epoch 5, 6, and 7 has since been in a downtrend with 4.5M, 3.8M, and 1.4M respectively.

    On the right side of the donut chart are the top 10 wallets with the most locked SBR. Another thing you can notice from the chart is that the top 3 wallets are responsible for 90% of the staked SBR.

    Our next interest is to determine how many lockups the top 20 wallets have done after February. Looking at the figure above, it is obvious that there has been only one lock-up action by the top guys since the beginning of March 2022.

    We are also interested in knowing other decentralized protocols that the top 20 wallets are using aside from Saber. Our investigation informs us that, the only other protocol used by the top guys is Jupiter, the DEX aggregator, which has been used 29 times.

    Conclusion

    In this analytical investigation, we have created a time series showing the amount of SBR locked up since Epoch 1 and have deduced the top 20 wallets to lock SBR within the month of February.

    With Epoch 4 seeing the most amount of lockups, we can conclude that the top wallets locked up liquidity in Epoch 4.

    We found out that the top guys have only locked up SBR again only once after February which means that they lock up all their SBR in governance at once. Also, apart from Saber, the top guys have only interacted with only Jupiter, 29 times since the beginning of March 2022.