Average and Total Delegate Activities on Validators

According to the above charts, the SG-1 validator is the leader in the volume of delegation activities with a total of 13.1M delegated $ATOM, followed by the Stake.fish with 10.31M and the Coinbase Custody with 9.72M.
Also, Everstake has the lead in the case of the total delegate transactions and delegators, with 320K transactions done by about 244K users, followed by SG-1 and Stake.fish.

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Distribution of Delegators

The above charts show the distribution of users by volume and the number of delegations on validators.
Most users have done only one delegate transaction in all of the validators, while the 2 to 10 range has the second rank. In the case of the delegated volume, the first rank is not the same; on some validators like Paradigm, and Dokia Capital, most of the users have delegated less than 1 $ATOM, while on the other validators, the 1 to 10 $ATOM range and even the 10-100 $ATOM range has the lead.

Weekly Delegate Activities on Validators

According to the above graphs, SG-1 has dominated in terms of volume, the number of delegation activities, and users throughout the past year on most days.
The period from December 2021 to mid-March 2022 saw an increase in the number and volume of delegate activities. Still, following this period, we can observe quite a decline in activity, particularly in terms of the volume on all validators.
Also, since mid-March, we can see the number of delegate transactions and delegators has fluctuated until now. In contrast, in the case of the delegated volume, there was a sudden spike at the beginning of August, with Coinbase Custody having the greatest share with 4.63M $Atom. Also, currently, there was a lesser spike in the volume of delegations when 2.7M $Atom was delegated to ZKV validator in late November.

Weekly Redelegate TO and FROM Activities on Validators

According to the above graphs, SG-1 has dominated in volume, the number of both redelegate to and from transactions, and users throughout the past year on most days.
The period from December 2021 to late March 2022 saw an increase in the number and volume of redelegate activities. Still, following this period, we can observe quite a decline in activity, particularly in terms of the volume on all validators till August, when they started to increase but still, they are less than the period between December 2021 and March 2022.
In the case of the redelegated volume, there was a sudden spike in late June and early July, with Coinbase Custody having the greatest share with more than 17M $Atom in just two weeks.

Introduction

What is Cosmos?

Cosmos (ATOM) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way.

What is Delegation?

Delegation is the process of picking validators for the hybrid PoS known as DPoS. During a delegation, token holders vote for other users they want to validate a transaction. The weight of a vote depends on the number of stakes owned by the voter. Therefore, token holders with large stakes get to pick a user they trust to maintain the network.

What is Validation?

Validation is the process of verifying transactions before being added to the blockchain. The process includes the collection of transaction data, determining whether the transaction meets protocol requirements and doesn't have malicious manipulations.

What is a delegator?

People that cannot or do not want to operate validator nodes can still participate in the staking process as delegators. Indeed, validators are not chosen based on their self-delegated stake but based on their total stake, which is the sum of their self-delegated stake and of the stake that is delegated to them.

Sources:1, 2, 3

Methodology

In this dashboard, we will use Flipsidecrypto’s database to get deep into the delegating and redelegating activities on the top 10 current validators of the Cosmos Blockchain, which are stake.fish, Coinbase Custody, DokiaCapital, SG-1, Zero Knowledge Validator (ZKV), Binance Node, Polychain, Everstake, GAME, and Paradigm.

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This analysis will compare these validators regarding Delegate & Redelegate activities over the past year. We will use the cosmos.core.fact_msg_attributes table to get information about the delegation and redelegation activities on validators and cosmos.core.fact_validators to filter the top 10 validators by their name.

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We will use the following metrics:

Weekly Delegate Activities on Validators
Average and Total Delegate Activities on Validators
Distribution of Delegators Weekly
Redelegate TO and FROM Activities on Validators

Conclusion

Most days last year, SG-1 dominated volume, delegation activities, and users. Delegate activity increased from December 2021 to mid-March 2022. After this period, it started to decline, especially in the case of delegation volume.
Delegate transactions and delegators have fluctuated since mid-March. In contrast, delegated volume spiked at the beginning of August, with Coinbase Custody holding 4.63M $Atom. In late November, 2.7M $Atom was delegated to the ZKV validator, causing a smaller rise in delegation volume.
The SG-1 validator, the leader of delegation volume, has been delegated 13.1M $ATOM, followed by Stake.fish and Coinbase Custody. Everstake leads in delegate transactions and delegators with 320K transactions by 244K users, followed by SG-1 and Stake.fish.
Most users have done one delegate transaction across all validators, while the 2 to 10 range ranks second. On some validators, like Paradigm and Dokia Capital, most users have delegated less than 1 $ATOM, but on others, the 1 to 10 $ATOM and 10-100 $ATOM ranges lead.
On most days last year, SG-1 redelegating volume, redelegating to and from transactions, and the number of users.
From December 2021 to March 2022, redelegation actions increased. Following this period, we can detect a drop in activity, especially in volume, until August, when it started to climb but was still less than from December 2021 to March 2022.
Redelegated volume spiked in late June and early July, with Coinbase Custody holding more than 17M $Atom in two weeks.

P.S: I forked Ali3N’s dashboard on The Battle of The SG-1 vs GAME Validators on Cosmos Hub for some tables on this dashboard, and I want to thank and congrats him for such great work.

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