Approach

In this report the holding of $RUNE holding in each wallet will be analyzed. In order to ask correclty to the question asked, I will be using the next methodolgy:

• Calculate the difference between $RUNE amount in minus the $RUNE amount out using thorchain.transfers.
• Calculate the difference between $RUNE amount in to a LP minus the $RUNE amount out to a LP using thorchain.liquidity_actions.
• Add it all up in order to get the balance we are looking for.

• Balance = transfer_amount_in - transfer_amount_in + liquidity_amount_in - liquidity_amount_out

First we are going to start with a list of all the wallets that have $RUNE in their possession and the total supply. Then we are going to break down the information and look at some metrics.

Analysis

Then, I will classify $RUNE holding distribution by tiers:

Tier 1: Wallets with balance > 500000;

Tier 2: Wallets with balance > 100000 and balance <= 500000;

Tier 3: Wallets with balance > 50000 and balance <= 100000;

Tier 4: Wallets with balance > 20000 and balance <= 50000;

Tier 5: Wallets with balance > 10000 and balance <= 20000;

Tier 6: Wallets with balance > 5000 and balance <= 10000;

Tier 7: Wallets with balance > 2000 and balance <= 5000;

Tier 8: Wallets with balance > 1000 and balance <= 2000;

Tier 9: Wallets with balance > 500 and balance <= 1000;

Tier 10: Wallets with balance > 0 and balance <= 500;

• Finally, I will calculate the number of wallets that are holding RUNE and the number of wallets that have a open position on a LP over time

Once this is done, we are going to have a look into the number of wallets per tier vs the sum of all the balances in each pool.

As we can see in the chart below there are a large number of addresses in tier 10, meaning that the vast majority of thorchain holders have between 0 - 500 $RUNE. However, we can see how the average number of balances and the number of wallets in each tier are proportionally indirect, hence the more balance there is the fewer wallets we have.

Finally, we are going to have a look into the percentage of each tier to the total $RUNE, shown at the top of the dashboard. We can see that Tier 1 + Tier 2 already means 50% of the total.

In the next chart, average balance vs standard desviation of each tier have been represented. We can see that as more $RUNE it's held in a wallets, more standard deviation there will be, as it is true that the price range is wider but there is also a smaller value of holders.

Last but not least, I have also considered the distribution of each tier, by dividing it into two levels. Transfer_amount_tier, which considers the difference of the data extracted from thorchain.transfers and LP_amount_tier which considers the difference of $RUNE in and out but this time from the table thorchain.liquidity_actions.

As we can see in the results most of the tiers keep an aprox 50/50 distribution between wallet and LP holdings.

However, in those tiers with more $RUNE tend to deposit their money into liquidity pools in order to get some payout.

Finally, if we look a the number of wallets over time that holds RUNE or has an open position in a LP we got the chart below.

• We can see that more wallets are geting interested on RUNE since the start of March.
• Mostly wallets hold RUNE without having an open position on a LP.

Let's check the % (normalised chart).

• As we predicted in the previous chart more wallets are having RUNE holdings than a open position in a LP.

• The daily rate range of wallets holding an LP open osition goes [1% - 18%].