Cosmos is an ever-expanding ecosystem of interconnected apps and services, built for a decentralized future.Cosmos apps and services connect using IBC, the Inter-Blockchain Communication protocol. This innovation enables you to freely exchange assets and data across sovereign, decentralized exchanges [1].

Staking is the process of locking up a digital asset (ATOM in the case of the Cosmos Hub) to provide economic security for a public blockchain. By staking, users can do the following:

• Secure the chain: With ATOM, you have the superpower to contribute to the security and governance of the Cosmos Hub.
• Earn rewards: Select one or more validators of the Cosmos Hub and start earning crypto assets.
• Vote for the future: Staking ATOM grants the right to vote on proposals and make decisions on the future of the network.

The Cosmos Hub is based on Tendermint (opens new window)that relies on a set of validators that are responsible for committing new blocks in the blockchain. These validators participate in the consensus protocol by broadcasting votes that contain cryptographic signatures signed by each validator's private key. Validator candidates can bond their own ATOM and have ATOM "delegated", or staked, to them by token holders. The Cosmos Hub has 175 validators (opens new window), but over time the number of validators can be increased with governance proposals. The validators are determined by the total number of ATOM tokens delegated to them — the top 175 validator candidates with the most voting power are the current Cosmos validators [2].

People who cannot or do not want to operate validator nodes can participate in the betting process as delegators. In fact, validators are not chosen based on their self-delegated stake, but based on their total stake, which is the sum of their self-delegated stake and the stake delegated to them. This is an important property, as it makes delegates a safeguard against validators who exhibit bad behavior. If a validator misbehaves, his delegators will move their Atoms away from him, thus reducing his participation. Finally, if a validator's participation falls below the 125 addresses with the highest participation, he will leave the set of validators. Delegates share the income of their validators, but they also share the risks. In terms of income, validators and delegates differ in that validators can apply a commission on the income that goes to their delegate before it is distributed. This fee is known in advance by the delegators and can only vary based on predefined restrictions (see next section). In terms of risk, delegate Atoms can be trimmed if their validator misbehaves. For more information, see the section Risks.

To become delegators, Atom holders must submit a "delegation transaction" in which they specify how many Atoms they wish to link and to which validator. A list of validator candidates will appear in Cosmos Hub browsers. Later, if a delegate wishes to unbind part or all of their share, they must submit an "unbind transaction". Thereafter, the delegate will have to wait 3 weeks to retrieve their Atoms. Delegates can also submit a "Rebond Transaction" to switch from one validator to another, without having to go through the 3-week waiting period [3].

The intention of this analysis is to take a look at the current delegations being done on the Cosmos Hub. In concrete, we will take a look at the redelegation process and its behaviors. To do so, we will explore the evolution of redelegations over time as well as the specific process on a specific Proposal.

To make the dashboard as much interactive as possible, readers can choose the granularity and the timeframe of the study, as well as the Proposal to be analyzed in a deep mode. To do so, the reader have to choose these three parameters that are exposed above:

• granularity: data can be calculated daily, weekly or monthly, so user can choose between day/week/month
• n_days: this parameter determines the period of the analysis. Here, the reader have to put the amount of days to be calculated
• proposal_id: it is related to the number of proposal to be studied in a deeper way

Analysis of redelegation activity on Cosmos over the chosen period

Overview

Instruccions

Redelegation activity on the seleted Proposal and timeframe

Top 10 validators by number of redelegations, redelegators and ATOM redelegated so far