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Introduction and Methodology

Tokemak - The Token Reactor is a liquidity-focused DeFi protocol. Its tokenomics for governance and rewards are centered on the TOKE token.

This analysis examines TOKE whale wallets (top 10 by balance) to determine whether the biggest holders from January 2022 have maintained their position.

Data Results

Who were the TOKE whales at the beginning of 2022, and how have they fared?

Since 1 January 2022, the top 10 wallets that held the most TOKE on that day have significantly changed their holdings, although the total amount held amongst them remained steady:

Leaderboard snapshot in January vs. now

• As we now know, the top two wallets are the same and they have just switched places (0x8b43 and 0x96f9).
• A wallet that grew its TOKE balance 3x to reach the 3rd place is 0xd4e7.
• Meanwhile, a wallet that fell 16x from the 3rd place is 0xa760.
• Three wallets from the January top 10 lost their positions among top 10 whales by 22 June (#8, 9, and 10).
• Likewise, three wallets appeared in the June top 10 compared to January (#7, 8, and 9).

Changes in the TOKE top 10 month by month

The below graph shows the balance changes of wallets that have been in the top 10 between January and now (at the start of each month, or on June 22 as the latest date).

As seen earlier, the most important change in TOKE whales since January has been the place switching between top 2 wallets (0x8b43 and 0x96f9), which took place during March 2022:

Takeaways

There has been some change in the top 10 wallets holding TOKE between January 2022 and now. In March, the two top wallets have switched places (65% and 27% of top 10 TOKE each, aka ~ 64M and 27M TOKE). In addition, there has been some reshuffle in smaller holders, with 3 wallets no longer in the top 3, replaced by 3 new ones. Of the rest - the 6 smaller wallets that remained in the top 10 - the values of their TOKE holders have also been changing in the past six months.

About

This analysis was created by catscatscode (Flipside, Twitter, catscatscode#3578 on Discord) on 22 June 2022 for Flipside Crypto's "Top TOKE Holders" Tokemak bounty. This analysis represents the author's best effort at interpreting available data, but it is not financial advice.