Looks like the top unbonder is the 7th largest liquidator. But more interestingly, I would have thought there would not be many accounts that engage in large amount of unbonding transactions but seems like I was completely wrong. To me, it seems like there are two types of liquidators, one type who tend to unbond patiently and others who tend to prefer a quicker loop of their capital. It's also possible that some of these liquidators tend to use instant burns during periods of high volatility as can be seen on the first few graphs) and unbending during times of calm.

Okay, looks like we don't see the accounts that liquidate a lot on this list. It turns out that this is because the destination address for the bLUNA a liquidator liquidates can be different from the actual liquidator's address. So let's look at the top addresses that unbond bLUNA and see if there are any differences:

Now, let's look at the accounts that have transacted with the bLUNA-LUNA pool the most:

Next, let's look at the accounts that perform these transactions. I postulate that we'll likely see most of the transactions for bLUNA instant burns come from liquidators so let's first add a table of who the liquidators are:

As a baseline, it looks like bLUNA unbonding is more common during peace times with instant burns becoming much more popular when people want to dump their bLUNA quickly like during a crash. It also suggests that during a crash liquidators are hard at work liquidating multiple accounts, selling that bLUNA possibly at a discount to go to LUNA and then to UST to be able to liquidate more people.

Next let's look at the amount of bLUNA instant burned or unbonded each day:

To start let's look at the count of transactions for both bLUNA instant burns (which we will refer to as burns) and bLUNA unbonding events:

Again we seem similar activity from the bLUNA instant burn vs unbond charts. The bLUNA unbonding chart is consistent across March-May as people experimented with bLUNA and then went back to LUNA. It also looks like those who wanted to unbond unbonded in the May crash with there being really low amounts of unbonding since then (even less than the months before the crash). This is also because of how juicy loans have been on Anchor with them providing > 100% returns to borrowers. The instant burn graph has a similar pattern where days of high LUNA price volatility i.e. during May have led to large amounts of instant burns due to liquidators dumping.