Questions

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This article is written to answer the following questions

• What is the user distribution by size of account? (How many have between $1-1,000, 1,000 - 100k, etc). Is the protocol largely influenced by whales, or by average Solana users?

Approaches

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• We define “size of account” as balance of users after they deposit in Solend (the latest one).
• We grab the data from POST_BALANCES from solana.core.fact_transactions table.
• For each user, we grab balance of all tokens they have deposited and sum them up.
• However, this assumption may not be good; some whales may deposit all of their tokens and remain zero balance
• So we put another condition about deposition size, which will be explained further
• Unfortunately, we cannot get balance of SOL token, because it is not shown in POST_BALANCES, but we still can grab statistical information out of this.
• For freshness of information and computational limitation, we query data only in last 30 days.

Overall Demographic of Solend users

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We sum up all token’s post balance of each user, find their deposition amount of latest Tx of each token, and categorize them into 4 type; user who has total balance or deposit

1.) >100k USD

2.) 1,000 - 100k USD

3.) 1 - 1,000 USD

4.) < 1 USD

we count number of users of each type and plotted as in the right graphs

• 6.99% of them have balance or deposit less than 1 USD
• 58% have balance or deposit between 1-1,000 USD
• 31.7% have balance or deposit between 1,000 - 100k USD
• 3.24% of them have balance or deposit more than 100k USD

Deposit amount is summation of the last deposit of each user on each token.

• We can see that Whales contribute majority of deposit amount

Demographic and Deposition in each token

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From below graphs,

• We can see that most of users have account balance or deposit in range 1-1,000 and 1,000 - 100k USD.
• However, deposition majority is from Whales.
• The most popular tokens of Whales are mSOL and USDC, as the deposition volume is very high.
• The most popular token among average users is USDC as there are many users deposit there.

Conclusions

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• Overall demographic of users is

  • 1.) >100k USD (3.24%)
  • 2.) 1,000 - 100k USD (31.7%)
  • 3.) 1 - 1,000 USD (58%)
  • 4.) < 1 USD (6.99%)

• What influences the protocol the most are Whales, as they deposit large majority of volume.

• The most popular tokens of Whales are mSOL and USDC, as the deposition volume is very high.

• The most popular token among average users is USDC as there are many users deposit there.