What is the question?🚨

What has been happening in the Solana defi ecosystem since the Mango Markets Hack?

Has activity increased? Decreased? Are users flocking to any particular defi apps? Are they leaving the ecosystem? Chart flows in and out of centralized exchanges from the Solana ecosystem. Has staking behavior changed on Solana since the hack?

What we will cover in this dashboard?🌊

1. DeFi Daily and Overall Stats
2. Stake and Unstake Stats
3. Top 10 Solana DeFi Protocols by Users and Events
4. Daily Transactions and Users Divided by DeFi Protocols and Labels
5. CEXs Inflows and Outflows

Method⚡

For this analytics, i went through Solana and its DeFi platforms and analyzed some different metrics for both solana and DeFis to see what happened to Mango markets and its hack that happened on Oct 11th.

I extracted the data from ==Solana.core== database provided by Flipsidecrypto and used multiple tables to grab the data that i needed. These are the tables that i used: ==“solana.core.fact_swaps”== , ==“solana.core.fact_staking_lp_actions”== ==“solana.core.fact_nft_mints”== , ==“solana.core.fact_transactions”== , ==“solana.core.fact_transfers”== , ==“solana.core.dim_labels”== ,

==“solana.core.fact_events”== . I also used Mango contract to calculate its daily price :

==“MangoCzJ36AjZyKwVj3VnYU4GTonjfVEnJmvvWaxLac”==. Also i only considered successful transactions with

succeeded = ‘TRUE‘

In this dashboard, there are multiple sort of charts to make the data more understandable and comfortable to read/follow.

I analyzed all the charts and stats since the beginning of October 2022 ==‘2022-10-01‘==

Introduction🚩

What is Solana?

Solana is a high-performance blockchain supporting builders around the world creating crypto apps that scale today.

What is Mango Markets?

Mango Markets is a fresh and juicy decentralized exchange (DEX) on the Solana blockchain that offers traders up to 20x leverage on popular trading pairs. Transactions are fast, cheap and permissionless, and the overall experience is smooth, thanks to a host of features that make Mango Markets unique.

More Info

What is DeFi?

Decentralized finance (DeFi) applications aim to cut out the middlemen of our everyday finances.

More Info

According to the charts above, Solana daily transactions got a downward trend after the hack that happened on Oct 11th, most of the transactions between these 4 transactions that we mentioned in the chart were transfers. Other transactions that we didnt mention were more than these categories. DeFi daily transactions and users recorded a huge spike on Oct 12 (the day after hack) and dropped dramatically after that. As we see in pie charts, number of transactions and users decreased after the hack and users lost their trust to DeFis and left them.

2. Stake and Unstake Stats

1. DeFi Daily Overall Stats

In overall there were more stakes,stakers,unstakes and unstakers before the hack as it should and after the hack these stats decreased. On the most days of October before hack, users staked more than unstaked and it was the same for stakers and unstakers too. A day before hack users were mostly unstaking and recorded 430.2K unstake volume on Oct 10th and when hack happened the volume fell badly. After the mango hack, users mostly unstaked their assets, removed their assets from DeFi platforms and lost their trust to them.

Jupiter is the most popular Defi Protocol in terms of number of users and Serum is the most popular one in terms of number of events.

3. Top 10 Solana DeFi Protocols by Users and Events

As we see in the multiple charts stats decreased after the hack and its obvious that users lost their trust to DeFis after that. We see Serum is the most popular DeFi platform and has a huge difference between others, it recorded Over 5M transactions per day in October. Mango markets were doing good since the beginning of October but when the hack happened, it lost its users and also number of transactions. Jupiter is the most popular DeFi platform between others in terms of number of users and its users recorded an all-time high on Oct 11th with 21.8K users and dropped dramatically after that. According to the charts bottom, most of the Daily transactions on solana were for DEXs and dApps and NFTs had the most users between others. It seems that Solana number of transactions on DeFis increased on Oct 12th and Oct 13th (After Hack) and it was because of users panic and selling or removing their assets from that platforms.

4. Daily Transactions and Users Divided by DeFi Protocols and Labels

5. CEXs Inflows and Outflows

There is an steady trend on outflow transactions and users but outflow volume had some fluctuations on different days and it increased after the hack like the inflow volume. Inflows and outflows users in CEXs didnt change that much after hack. Inflow transactions once decreased after Oct 5th and then around the hack it increased again. Most of inflows were for Coinbase and inflows were for Kucoin.

FTX was also popular between both inflow and outflow users but not as much as coinbase or kucoin.

Conclusion💡

• MANGO token has experienced a price drop after the hack
• There were more users and transactions on solana before the hack and these stats decreased after the mango hack
• Number of users and tranactions recorded an all-time high on Oct 12th and Oct 13th (Selling pressure and crypto panic)
• Users mostly unstaked after the hack
• Serum and Jupiter were the most popular DeFi platforms in October so far in terms of number of transactons and users
• In overall, it has not had much impact on the network as a whole. The biggest impact has been on the Mango system itself.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

Twitter : Sbhn_np

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Thanks for your time!