Observation

I used to filter Defi and Dex transactions to find transactions on Solana Defi Ecosystem.

1. The number of daily transactions started to decrease on October 11, the day of the hack.
2. The average number of transactions also decreased from 13.06M before the hack to 7.57M after.
3. On October 11, the day of the hack, 28.976K unique users transacted on Solana Defi Ecosystem, which is the maximum number in October.
4. The number of Defi users has grown overall on the day of the hack, but we see that there hasn't been much change after the hack compared to before the hack; only the day of the hack indicates an increase, and then the trend has returned.
5. The average number of users increased from 13.5K, before the hack, to 15.8K, after the hack.

Observation

1. As mentioned above, there is a considerable decrease in the average number of transactions on Defi programs after the hack.
2. But, since Mango didn't have a significant share of total Defi users, the decrease in the average number of users after the hack is not much great as the average number of transactions.
3. Also, there is a considerable decrease in Mango transactions after the attack, which is visible on the chart.
4. According to the above charts, After the Mango Hack, Mango's share of transactions and users has experienced a decrease, while on other Defi platforms like Serum, Zeta, Jupiter, and Solend, the share of transactions and users has experienced a rise. Users moving from Mango to other Defi programs could be the main reason for this.

Observation

1. Based on the above charts, unstaking activity on Solana was not impacted significantly by the Mango attack since there is no increasing withdrawal activity.
2. But the for the staking activity, we can see a massive decrease in the delegated amount after the hack.
3. The average amount of delegates decreased from 149K, before the hack, to 43K after.
4. Still, the most significant number of staking and unstaking transactions belongs to before the hack.

Observation

1. In terms of the number of transfers, the above charts show no noticeable decrease or increase in CEXs Outflows and Inflows from the Solana ecosystem.

2. The volume of USD inflows and outflows from CEX suddenly increased on October 11, the day of the hack, before it declined to its pre-hack level on the following days.

3. In terms of the volume of transfers, the average USD volume of both to and from CEX transactions has decreased after the hack, which is also clear by using the daily chart.

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Observation

1. It is obvious that Mango's output does not match its inflow following hacking.
2. Unlike the previous days, the amount of outflow on the hacking day is very high, and the pattern is entirely the opposite.
3. Surprisingly, the number of users has increased since the attack. But following the attack, we can clearly detect a considerable drop in the number of daily transactions and users on the Mango Market; this is in addition to the earlier, steady drop.

Conclusion

1. The number of daily transactions started to decrease on October 11, the day of the hack, so the average number of transactions decreased from 13.06M before the hack to 7.57M after.
2. On October 11, the day of the hack, 28.976K unique users transacted on Solana Defi Ecosystem, which was the maximum number in October.
3. we saw that there hasn't been much change after the hack compared to before the hack; only the day of the hack indicates an increase, and then the trend has returned.
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5. Mango didn't have a significant share of total Defi users, the decrease in the average number of users after the hack is not much great as the average number of transactions and the average number of Defi users increased from 13.5K, before the hack, to 15.8K, after the hack.
6. there was a considerable decrease in Mango transactions after the attack, so the Mango's share of transactions and users has experienced a decrease, while on other Defi platforms like Serum, Zeta, Jupiter, and Solend, the share of transactions and users has experienced a rise so we concluded that Users moving from Mango to other Defi programs could be the main reason for this.
7. Unstaking activity on Solana was not impacted significantly by the Mango attack since there was no increasing withdrawal activity, but for the staking activity, we saw a massive decrease in the delegated amount after the hack.
8. The average amount of delegates decreased from 149K, before the hack, to 43K after, Still, the most significant number of staking and unstaking transactions belonged to before the hack.
9. In terms of the number of transfers, tthere was no noticeable decrease or increase in CEXs Outflows and Inflows from the Solana ecosystem, the volume of USD inflows and outflows from CEX suddenly increased on October 11, the day of the hack, before it declined to its pre-hack level on the following days.
10. In terms of the volume of transfers, the average USD volume of both to and from CEX transactions has decreased after the hack.
11. It is obvious that Mango's output was much more than inflow transactions, the amount of outflow on the hacking day was very high.
12. The number of users has increased since the attack, but following the attack, we saw a considerable drop in the number of daily transactions and users on the Mango Market; over the time it continued to drop.

Method of this dashboard

We will use the Solana.core.fact_transactions, solana.core.fact_transfers, solana.fact_swaps and solana.core.fact_staking_lp_actions tables to find out What has been happening in the Solana Defi ecosystem since the Mango Markets Hack to find whether the activity has increased or decreased and whether users are flocking to any particular Defi apps and if users are leaving the ecosystem, and we will try to draw chart flows in and out of centralized exchanges from the Solana ecosystem and find whether staking behavior has changed on Solana since the hack.

Mango Market

Mango Markets is built on the Solana blockchain and utilizes Serum DEX for spot margin trading, while perpetual futures are traded on Mango Markets' order book. Mango Markets is governed by MNGO token holders via the Mango DAO. Mango Markets is completely open source.

Mango Hack

Mango Markets, decentralized finance (Defi) trading platform on the Solana blockchain, has become the latest victim to hackers who stole $117 million from the platform. According to a tweet from Mango Market, the hack was caused by a price manipulation on the native MNGO token.