> #### Why Track the Unstakers?

If something is done very frequently it usually raises suspicion. So to answer the question let’s first see how frequently users unstake their assets.

Frequency is defined as : (Number of cycles or repetitions or undelegations) / (period of time).

• So we will define Unstaking Frequency as daily unstaking count averaged over a month.
• This will help us better see if there are any trends or irregularities in users unstaking activity. ** We will use Unstaking and Undelegating interchangeably in the context.

> ## What About Unstaker Frequency?

The same concept also can be applied to Number of Unstakers per day. Two charts look almost identical in the pattern, So to draw a better conclusion we can get an average of daily unstakers.

Here’s what we found:

1. On average 350 unstaking happens in a day, and there are about 250 users who decide to unstake.
2. The large difference of both averages, means that there are users that at least unstake more than once in a day.
3. For further investigation we obtain the maximum number of times that a user unstaked in a day.
4. Surprisingly, we find that there accounts that have undelegated their assets from pools more than 50 times in a single day. And by just looking at the chart, we see that each day there’s at least one user who has on average unstaked his/her assets more than 5 times in a day.
5. Note that once undelegated, assets are returned after 14 days for OSMO and 21 days for others.
6. So It seems like it is common for stakers to test multiple pools and divide their assets accordingly.

> ## What Do They Do Afterwards?

Once unstakers receive the assets, they mostly perform either of these actions:

• Swap

• IBC Transfer

• Join Pools

• Vote on Proposals

• From the daily chart we see a rising trend in the Token Swapping actions and Joining Pools.

• This trend changes after the Exploit incident which affected the pools.

• Many of the users delegate again after undelegating. Since if they only wanted to change their validator could simply redelagate directly, this means that the unstaked amount was first used in some other way, probably swapped to another token, and then staked(delegated) again after some time.

From the stats Only 0.25% of Unstaking users redelegate afterwards. We will see later which validators are the most popular redelegation destination addresses.

> ## How It All Works?

• Once a user decides to unstake his/her assets, there’s a redeeming period of 14 days which means the staked amount will be return after that period. For example if person X decides to undelegate on Jan 1st 2022, X will receive his funds on Jan 15th.

• Consider that each day many users undelegate their assets, In this dashboard we track what they do after 14 days, when they receive their assets.

• Since there is no specified interval to consider what they do with the unstaked assets, we consider the accumulated actions of unstakers from the day they receive the assets till current date.

  \

> ## What Can Be Inferred From All this Frequency Stuff?!

From March 2022, Users were very active with their daily unstakings, which could mean that either

• The new Superfluid Staking that went live on 28th Feb, was very attractive to stakers, so many unstaked from their current validators.

• Or Yields generated for them from staking their assets in previous months were no longer profitable for them and new validators emerged

  \

After the introduction of Superfluid Staking the monthly average of unstakings per day has been decreasing. This can be further validated by changing the {{start_date}} parameter to observe the changes in averages.

> #### Popular Validators

0.25% of Undelegating users later perform a redelegation. Which basically means that staked amount changes validators from a source validator to the destination validator known as redelegated validator.

Top 10 of the redelegated validators make up more than 50% of the total redelegation count.

The reason for this can be:

• The redelegated validator has a higher commission rate.

• There is no wait period for the first redelegation! this makes it possible to change validators frequently and also explains why some users have divided their assets and delegated to different nodes.

  This way without waiting for 14 days they can get a higher commission

  from another node if the rates drop in the current node.

• From daily charts we can get another point of view to see which validators were popular on that day, which could mean that they provided better commission.