Try Quests to earn FLOWWho's Got the FLOW?
Outline
In this report, we want to take a look at the FLOW token holders. Specifically, we want to know who holds the most amount of FLOW to this day.
Why are we doing this?
One reason we are creating this dashboard is that a huge community of Web3 Analyzers are using Flipside Crypto’s rich datasets to perform amazing analytics on FLOW’s blockchain. But there is no balances table on this dataset for this blockchain. Gathering such a dataset, can both help the analytics community, as well as folks at Flow to have a better understanding of this ecosystem’s users’ behaviors.
Methodology
In order to perform this analysis, we used 4 types of transactions (we also considers bridging activities, but we omitted those data since they we not informative):
- FLOW Transfers
- NFT Sales/Buys
- Swap Events
- Stakings
Basically any successful transactions that contains TokensWithdrawn and/or TokensDeposited events that interacted with the FLOW token contract.
Conclusions
In this report, we take a look at the FLOW balances of wallets in the flow blockchain. We have found that:
- The address
0x8f77d48caf93fd93has the most volume of FLOW tokens to-date. - 20% of the top 100 wallets hold about 80% of the market share among them, which is a re-instate of Pareto Principle.
- Based on the information from drawing the boxplot of this data, we found that the top 10 wallets with the highest volume of FLOW can be identified as outliers among the whales. Each of these wallets has more than 5 Million FLOW at their disposal.
This report has been shared on Twitter via this link.
Top 100 FLOW Hodlers
We first take a look at the top 100 wallets the with most amount of FLOW token. The table on the left shows the top 100 FLOW hodlers along with the current amount of FLOW tokens in their wallets. The figure on the right shows this information in a pie chart, along with the market share of each wallet (only) among the top 100 wallets.
Our observations:
- We can see the the address
0x8f77d48caf93fd93, with more than 91M FLOW, is the biggest whale in the FLOW ecosystem. It has 32.6% of the market share among the top 100 hodlers. - Overall, there are 279,404,583 FLOW tokens among the top 100 Hodlers.
- The top 20 hodlers of FLOW, have 225,118,915 tokens in their wallets!
Does Pareto Principle Hold?
There is a Pareto principle aka 80-20 rule that states 80% of consequences come from 20% of causes. In out problem, we want to know whether 80% of the top 100 hodlers assets (FLOW tokens) actually belong to the top 20% of the hodlers or not.
As show in the above tables, the top 20 hodlers of FLOW, hold 225,118,915 tokens while all of the top 100 hodlers have 279,404,583 FLOW tokens. dividing former by the latter, we get 80.57%! So, apparently yes! The 80-20 rule holds in this situation. Meaning among the top 100 wealthiest FLOW wallets, the top 20 is event richer than the bottom 80!
Detour
The uneven distribution of wealth is a major topic in economics. So much that in his 2020 US election rallies, Bernie Sanders talked about inqualities in wealth distribution. In a recent article in Gaurdian, he stated that “In the year 2022, three multibillionaires own more wealth than the bottom half of American society“.
Identifying the Whales
Since the definition of a whales is not very rigid, we should define one by our own standards. In statistics, one way to empirically detect outliers is to draw the boxplot of the data at hand and use the 1.5(8) * the upper whisker of the boxplot as the threshold from which the observations are considered as outliers.
In our data, for the top 100 wallets, the upper whisker is 2,581,381 FLOW tokens. So, by definition, any user with more than 4,078,581 FLOW tokens is consider to be an outlier, which we have 10 of.
In other words, in our data, we have 10 wallets that we consider as outliers of whales, and each of them has at least 5,154,831 FLOW tokens in their wallets.
Box plot statistics
| AMOUNT | |
|---|---|
| Upper whisker | 2581381.00 |
| 3rd quartile | 1706624.09 |
| Median | 629595.00 |
| 1st quartile | 341867.77 |
| Lower whisker | 226004.87 |
| Nr. of data points | 100.00 |
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