Using the New Solana Decoded Instructions Data

    The new `solana.core.fact_decoded_instructions` table opens up possibilities to get granular analyzing event instruction data for Solana protocols.

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    Sharky

    1/ You can dive into the decoded_instructions column to obtain event instruction data.

    For example, shown on the right are all possible event names that the Sharky program ID has outputted. To retrieve event names (in string format), this query selects decoded_instructions : name :: string.

    2/ The decoded_instructions data is a useful filter for zeroing in on user activity types with a certain protocol.

    For instance, on the right are the 10 most prolific Sharky lenders of 2024 so far. We identified these by filtering for the offerLoan event (which happens to be the most popular event of this program).

    Shout out to tarikflipside for the original query!

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    3/ On January 1st, 2024, Sharky made an announcement that introduced a future platform token $HARK.

    The decoded event instructions table allows us to analyze activity on Sharky to see if we can observe airdrop hunting behavior post-announcement.

    The data on the right shows that the $HARK announcement did not coincide with an increase in the number of lenders. Following a spike in lenders leading up to Christmas, lender numbers have remained steadily below 37k daily.

    A further analysis can use the new decoded instructions table to find out if other metrics for user behavior were more responsive to the $HARK news.

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