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? Note any trends or outliers you see in Solana defi.

Introduction

Mango Markets provides a single venue to lend, borrow, swap, and leverage-trade crypto assets through a powerful risk engine.

• Earn interest on deposits
• Cross-Margin / Cross-Collateralised
• Decentralised

Mango Markets is built on the Solana blockchain and utilises Serum DEX for spot margin trading while perpetual futures are traded on Mango Markets' own order book. Mango Markets is governed by MNGO token holders via the Mango DAO. Mango Markets is completely open source, we see this transparency as vital for the project as it increases the amount of people who understand and can improve the project. The DAO frequently sponsors grants for developers to extend, integrate with or try to break the project. Present your idea on the governance forum if you would like to receive financial support.

There are a number of ways to connect your trading system to the Mango Markets' on-chain programme. The easiest way for traders who are used to centralised exchanges, is to use the REST & WebSocket API that was purposefully designed to be easy to integrate. If you want to have the highest level of control, you will most likely want to communicate directly with the blockchain using one of the existing open source wrappers for TypeScript, Python or .NET.

If you are looking to get an overview of current & running efforts, we recommend that you join the biweekly developer calls on Discord (every two weeks on Saturday at 4PM UTC). If you just want to get started on a small project and contribute as part of a Hackathon, check out the Trello. The tasks there are proposed by different community members, usually not on the roadmap of any core developer and open for anyone to start.

Everything We Know About the Mango Markets Hack

Approach

• Hackers’ addresses are yUJw9a2PyoqKkH47i4yEGf4WXomSHMiK7Lp29Xs2NqM , J44uRJxJEDTyPgFG6BtQJ3skhex8FeBbDJWVoh3z9dJU
• I use DefiLlama data (link) to see how Solana TVL has changed since the hack by comparing Oct 14 TVL vs Oct 11 TVL.
• I exclude Pyth transactions when analyzing activity.
• Defi filters:

select
  *
  from solana.core.dim_labels
  where 1=1
  and label_type in ('dapp', 'dex', 'defi')
  and label != 'pyth' -- oracle

• Users are addresses which sign transactions.

Some ==queries== and charts and the ==method== description section are copied from the following dashboards:

Thank you very much dear ==phu==

About me:

• Author: Hojjat
• Discord: hojjat7878#8809
• Twitter: @hojjat8d
• Email: hojjat78delshad@gmail.com

THANK YOU FOR READING!

Conclusion

According to the above charts, we reach the following results:

1. ==MANGO== token has experienced a price drop after the hack and the amount of transactions of this token has increased a lot after the hack.
2. Hackers have stolen more than ==100 million dollars==.
3. The volume of output from the Mango market has increased greatly after the hack, which shows that users have lost their trust in this market.
4. After the hacking, the activity of ==Defi== projects has decreased a little, but the activity of ==CEX== has increased a little.
5. Due to the increase in activity in the ==Solend== project and the decrease in activity in ==Mango==, probably the users of the ==Mango== market are moving to the ==Solend== project.
6. According to the diagrams related to ==staking== of currencies in the Solana network, the hacking of the Mango market has not had much effect on this activity.

Appendix

The solution of this question and the queries are completely used from the filipside database

The construction of the dashboard was also used from the site app.flipsidecrypto.com/velocity, which belongs to flipside

OBSERVATIONS

In the lower left chart, you can see the hourly price chart of the MNGO token from October 1, 2022. As you can see, in the hour when the hack happened, the price of this token increased greatly and reached the price of 0.11 dollars, and then it suffered a sharp drop. It has reached the price of 0.024.

In the lower right chart, the daily volume of MNGO token purchase and sale chart is displayed from October 1, 2022 until today. As you can see, after this market was hacked, a large amount of this token was bought and sold, which shows that something important has happened in this market.

First part: Solana & CEX since the hack

OBSERVATIONS

In the two charts below, the number and volume of transactions stolen by hackers are shown. As you can see, about 100 million dollars have been stolen.

OBSERVATIONS

In the lower left chart, the number of exits from the Mango market from October 1 until today is displayed. As you can see, before this market was hacked, the number of exits per hour was between 40 and 15, but after the hacking, the number of exits increased sharply and reached 9434 per hour.

In the lower right chart, the daily TPS chart and TPS mining from October 1, 2022 until today are displayed. As you can see, the amount of TPS after the hacking of the Mango market is decreasing every day, and also the average TPS after the hacking of this market has reached from about 434 to about 374.

OBSERVATIONS

The two charts below show the number of daily users and daily transactions of Solana network's Defi projects from October 9, 2022. As you can see, after Mango Market was hacked, the trend of daily transactions has been downward and the trend of daily users has decreased a little.

OBSERVATIONS

The four charts below show the number of transactions and users hourly after and before Mango Market was hacked on October 9, 2022. As you can see, the Serum project had the highest number of transactions both before and after the hack, and in the charts of the number of users, the Jupiter project had the highest number of users before and after the hack.

OBSERVATIONS

The two charts below show the volume of transactions to and from CEXs from October 9, 2022 to October 14. As you can see in both charts, the volume of transactions after the hacking of the Mango market has been on the rise, which shows that something big has happened in the Defi projects and users have been moving their currencies between these projects.

Also, as you can see, in the hours after the hack, a lot of volume has been moved between Defi projects.

OBSERVATIONS

In the four charts below, the difference before and after hacking shows the 5 Defi projects that had the best activity and the 5 projects that had the worst activity in terms of the number of users and the number of transactions. As you can see, the Solend project had the best activity after hacking the Mango market, and the Mango project had the worst activity.

Second part: Solana staking since the hack

OBSERVATIONS

In the charts below, the number of transactions for staking and the number of users staking are shown on a daily basis from October 9, 2022. As you can see, in both charts, there is not much difference between before and after the Mango market hack, and even some increase can be seen in the charts.

OBSERVATIONS

In the four charts, they show the number of Delegate and Withdraw transactions and the number of users hourly before and after the Mango market hack from October 9, 2022. As you can see, there is not much difference between before and after hacking.