In this dashboard, we will look at the Top 5 LDO holders, and what they have done with their tokens. Spoiler alert : NOTHING !

Lido DAO token is deployed at 0x5a98fcbea516cf06857215779fd812ca3bef1b32, hence we can query the current top holders from ethereum.erc20_balances table. We must ignore the address 0x3e40d73eb977dc6a537af587d48316fee66e9c8c, which is the Lido DAO treasury which has a huge chunk of Lido DAO tokens.

Let us check how has the daily balances changed since 2021. For this, once again, we will be using ethereum.erc20_balances

It is likely that these wallets received all their LDO balances in a single tranfer. And they haven't used it since.

We will look at all the Transfer events associated with these wallets. For this, we will use ethereum_core.fact_event_logs, filter for Transfer event emitted by the LDO contract 0x5a98fcbea516cf06857215779fd812ca3bef1b32, which include the 5 addresses above as either to or from addresses.

• There have been only 9 transfers that involve these 5 wallets.
• Five of these were seed transfers(aka the first transfer) and transferred almost all of the current balances
• Only 2 wallets have removed LDO tokens from their holdings

Let us look at the other addresses involved in these transactions.

The seed transfers, are indeed SEED sales. They all occur in the single transaction 0xe8139cfa8edb234f35367943f8cb46eac6b41879032e2ef23e5adc10a093c525. The other 4 transfer out transactions are simple LDO transfers out of these wallets. Only future will reveal the true nature of these wallets.