Methodology

• Find all the Solana Events with

  Solend’s program_id So1endDq2YkqhipRh3WViPa8hdiSpxWy6z3Z6tMCpAo

• For each event find the corresponding transaction and find the wallet balance of each address using Sam’s Query

  • -- SQL Credit SAM:

• Once we have the balances, we break them down into user demographics based on the categories

      WHEN balance_sol_usd > 0 and balance_sol_usd <= 1 THEN 'a.0-1 Shrimp'
      WHEN balance_sol_usd > 1 and balance_sol_usd <= 10 THEN 'b.1-10 Crab'
      WHEN balance_sol_usd > 10 and balance_sol_usd <= 50 THEN 'c.10-50 Octopus'
      WHEN balance_sol_usd > 50 and balance_sol_usd <= 1e2 THEN 'd.50-100 Fish'
      WHEN balance_sol_usd > 1e2 and balance_sol_usd <= 1e3 THEN 'e.100-1000 Dolphin'
      WHEN balance_sol_usd > 1e3 and balance_sol_usd <= 1e4 THEN 'f.1K-10K Shark'
      WHEN balance_sol_usd > 1e4 and balance_sol_usd <= 1e5 THEN 'g.10K-100K Gray Whale'
      WHEN balance_sol_usd > 1e5 and balance_sol_usd <= 1e6 THEN 'h.100K-1M Humpback Whale'
      WHEN balance_sol_usd > 1e6 and balance_sol_usd <= 1e7 THEN 'i.1M-10M Right Whale'
      WHEN balance_sol_usd > 1e7 and balance_sol_usd <= 1e8 THEN 'j.10M-100M Fin Whale'
      WHEN balance_sol_usd > 1e8 THEN 'k.> 100M Blue Whale'
  

Note:

• Due to sheer volume of SQL Queries we are limiting the sample size to 1,000,000,000 to make sure the query completes in due time.
• For the Influence we are looking at the hourly transactions and categories for each user.

What is the user distribution by size of account?(How many have between $1-1,000, 1,000 - 100k, etc).

• We are looking at the users sample for yesterday.
• Most of the users using Solend are shrimps or users with 0-1 $SOL balance.
• The next most common category is Octopus with 10-50 $SOL balance.
• Other categories are minute, but yet still exist.

Is the protocol largely influenced by whales, or by average Solana users?

• Due to sheer volume of SQL Queries we are limiting the sample size to 1,000,000,000 to make sure the query completes in due time.
• For the Influence we are looking at the hourly transactions and categories for each user.
• Looking at the hourly data, we see that the protocol is actually influenced by Shrimps followed by Octopus, and very few whales are making transactions on Solend.

Conclusion

• Solend seems to be used by mostly average Solana users, as seen by wallet balances, as well as the hourly transaction breakdown.
• Whales rarely interact with the platform and are very far and few.