Methodology

• Find all the delegate and withdraw events for each delegator.
• Join all the delegate and withdraw events for each delegator with the information for last delegation/withdraw.
• Filter out all the events where event_type = delegate and the previous event_type was withdraw and the previous withdrawal was > 2days ago as compared to the current delegation.
  • There is no clear documentation on how long it takes for a withdraw the staked SOL, however as per the findings it is around 2-3 days/ 1 epoch.
  • We are assuming 2 days in our calculation.
  • Sources: * * *

Definitions Used

-- stake_authority The wallet address of the user who initialized the transaction.
-- withdraw_authority The wallet address of the user that is withdrawing the stake. 
-- node_pubkey A unique key belonging to the validator node.
-- validator_rank The rank of the validator by amount of delegated SOL.
-- commission The percentage of staked earnings given to the validator.
-- validator_name The name of the validator when available. 
-- withdraw_destination The wallet that the SOL is being withdrawn to. 

How often do delegators switch validators?

• Given below are two chars to answer this question
• Most of the wallets switch validators every 11-50 days, with a total ~2K delegators switching validators between 11-50 days since 01 Jan 2022.
• The second most common time to switch validators is 2-5 days after delegation.
• On a daily basis we see ~20 wallets switching validators, however we have seen as many as 49 wallets switching validators on Mar 12, 2022.