FLOW's Path To Decentralization

Flow is becoming more permissionless! Flow’s long-term vision is to optimize for security and scalability and move toward decentralization over time. With the release of permissionless contract deployment and new nodes for staking, build an analysis around the state of staking on Flow.

📜 Introduction

In this dashboard we are going to study FLOW staking activities since its inception, with a focus to the recent activities.

We are going to study following:

🔒 Staked FLOW

In this section we are going to answer following questions:

how much total $FLOW is staked?

It can be seen that around 0.7B FLOW is staked in the ecosystem.

What is the amount of $FLOW staked vs. $FLOW circulating?

According to Coinmarketcap, FLOW has a 1.04B circulating supply, around 0.7B of it is staked, which means around 67% of all total supply is already staked.

Cumulative Stake Over Time

Following chart depicts the cumulative staking over time, In the past more FLOW was staked but on Aug 2021, its staked amount decreased.

👥 Delegator Count

Flow had 38.1K delegators, The first chart depicts the daily new delegators onboarding, as well as, cumulative delegator count, it can be seen that on the very beginning and on March 2022, there has been massive amount of new users.

The next chart depicts the daily unique delegator count, It can be seen that recently more users have been active.

📊 Volume

Total Volume Staked/Unstaked

The following charts depict the total volume staked or unstaked overtime.

It can be seen that more volume has been staked than unstaked, which could be understood from the 0.7B FLOW tokens that has been saked in the ecosystem as well. This means a level of trust in the ecosystem.

⚡ Transaction Count

The following chart shows the weekly amount of transactions over time.

Volume Over Time

The following chart depicts the stake unstake volume as well as claiming rewards volume in FLOW over time.

Based on monthly average on most days there has been around 500K to 1.50M FLOW being staked or unstaked (5M to 10M per week).
On the first few weeks, before April 2021, there has been massive amount of staking and unstaking activities.
On Dec 21 and Mar 15, 2021, there has been massive amount of staking volume.
on Feb 1 2021, there has been a massive amount of volume unstaked.

Volume Statistics

Following chart depicts interesting results, it depicts the percentiles of stake size over time, as well as max and average amount of staked volume.

It can be seen that overall staking activity has decreased for every percentile as well as max amount.

It can be seen that on Aug 2021, there was a jump in the volume of 50% percentile of transactions.

Cumulative Volume

Next chart illustrates cumulative volume, by using hypothetical tangent line, we can view moments of increased volume on this chart, on the same dates that were mentioned in the past section, we observer significant jumps in staked and unstake amount.

🤔 Approach

Dataset and Tables

To conduct our study, we are using blockchain data provided by Flipside Crypto. From their datasets, following tables are used:

flow.core.fact_prices
flow.core.ez_staking_actions

Methodology

The ez_staking_actions table is used to access all the staking and unstaking events of FLOW blockchain, in this table there is a column called action, which can be used to access event types emitted, following actions provide insight about staking and ustaking:

action -&gt; ('TokensCommitted','DelegatorTokensCommitted') =&gt; STAKE 
action -&gt; ('DelegatorUnstakedTokensWithdrawn','UnstakedTokensWithdrawn') =&gt; UNSTAKE

Study Period

We are using all the available data since the inception of FLOW staking.

🔎 Summary

Let’s summarize our findings:

According to CoinMarketCap, FLOW has a 1.04B circulating supply and around 0.7B of it is staked, which means around 67% of all total supply is already staked.
Flow had 38.1K delegators since the beginning, according to daily unique user chart, recently more users have been active.
On Dec 21 and Mar 15, 2021, there has been massive amount of staking volume.on Feb 1 2021, there has been a massive amount of volume unstaked.
Based on monthly average on most days there has been around 500K to 1.50M FLOW being staked or unstaked.
It can be seen that overall staking activity has decreased for every percentile as well as max amount.

flipside