Question:

Q101.Solend is the leading lending protocol on Solana. What are the demographics of the Solend userbase?

• What is the user distribution by size of account? (How many have between $1-1,000, 1,000 - 100k, etc). Is the protocol largely influenced by whales, or by average Solana users?

Overview of essay:

Solend is a decentralised algorithmic lending and borrowing protocol built in Solana. In this essay we want to identify the demographics of Solend users.

==EX: Assume that one user has 100 USDC and deposited 20 USDC to Solend then he has 80 USDC on his account and we want these remain amount to identify the demographics.==

After obtaining demographics of Solend users, the main purpose is to identify the Whale participation estimation.

The Last deposit of users has been considered to get the latest balance.

Approach:

• Solend users and balance:

  select distinct SIGNERS[0] as wallet,

  max(BLOCK_TIMESTAMP) as final_interaction, POST_TOKEN_BALANCES[0]:mint as mint, POST_TOKEN_BALANCES[0]:uiTokenAmount:uiAmount as balance from solana.fact_transactions where instructions[1]:programId = 'So1endDq2YkqhipRh3WViPa8hdiSpxWy6z3Z6tMCpAo' and inner_instructions[1]:instructions[1]:parsed:info:mintAuthority = 'DdZR6zRFiUt4S5mg7AV1uKB2z1f1WzcNYCaTEEWPAuby'

• Balance distribution:

  when USD_balance<=1000 then 'a: under 1000$' when USD_balance >1000 and USD_balance<=100000 then 'b: 1k-100k$' when USD_balance>100000 and USD_balance<=200000 then 'c: 100k-200k$' when USD_balance>200000 and USD_balance<=500000 then 'd: 200k-500k$' when USD_balance>500000 then 'e: over 500k$'

This Essay has been executed for the past 30 days.

Price of Tokens (Mints):

select swaps to stable coins FROM solana.core.fact_swaps and underestimate the price of assets based on amount of stable coin

Key findings:

The consequences related to this essay have been summarized as below:

• The most used token for depositing on Solend is USD coin based on the analysis for the past 30 days.
• About 25% of transactions related to the deposit on Solend belongs to USD coin. Second rank belong to USDT with 15% of transactions.
• wow its fantastic, the outcomes have been proven the application of Solend by Whales.
• The 82% of users have over 500k balance after deposit into the Solend pools and if we consider this bunch of accounts as Whales so Yes the main users of Solend are Whales.
• The count of Whales interacted with Solend program in the past 30 day 542 unique addresses.
• The next biggest bucket belongs to the smallest balance (under 1000$) with 56 unique addresses in the past 30 days.
• The share of smallest users are 8.47% of total users interacted with Solend in the past month.