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    [Lido] Top LDO Holders

    -- Date: 2 June 2022 -- Author: mar1na (catscatscode) -- Lido Q1. Who are the top LDO holders on ethereum and where have their LDO come from? Did they buy it or was it an airdrop?

    Introduction

    Lido Ethereum Liquid Staking Protocol allows to stake ETH while maintaining access to liquidity. The protocol's governing body is Lido DAO, and its governance token is LDO. This analysis identifies Ethereum wallets with the highest LDO balances, and explores the origins of these holdings.

    Method

    The first query is modified from my dashboard analyzing LDO holder actions [Lido] LDO Holder Behaviors. It shows the distribution of top 10 wallets by LDO balance as of the date of the analysis (2 June 2022).

    Based on the results of the 1st query, we exclude the top holder wallet (Lido Treasury) from further analysis, as it is of more interest to understand where non-Lido admin wallets are obtaining LDO.

    Also based on the 1st query, where all holders are extremely large whales, we expand the analysis to include top 100 wallets by LDO balance (2nd chart).

    As a result, the 3rd chart displays the sources of LDO among top 100 holder wallets, excluding the top 1 wallet belonging to Lido Treasury. The sources are identified from labels in Flipside Crypto ethereum_core.dim_labels schema and table.

    Data Results

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    Takeaways

    • The largest holder of LDO is the Lido Treasury with over 167M LDO.

    • Several Gnosis Safe multisig wallets have substantial LDO holdings; among the top wallets by LDO balance.

    • More than 80% of source wallets, from whom top 100 LDO holders received their token, are from Binance.

    About

    This analysis was created by catscatscode (Flipside, Twitter, catscatscode#3578 on Discord) on 2 June 2022 for Flipside Crypto's "Top LDO Holders" Lido bounty.

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