Introduction

This dashboard will explore different metric to analyse wallet behaviour of Algorand payouts from Flipside bounty program, with over 30 bounties including Algorand, Tinyman and AlgoFi questions.

Methodology

The Flipside algorand bounty payout wallet is TLR47MQCEIC6HSSYLXEI7NJIINWJESIT3XROAYC2DUEFMSRQ6HBVJ3ZWLE and any sent payment transaction under 10,000 ALGOs can be assumed to be a bounty payout, so the constraits for the queries have been set as:

• sender = 'TLR47MQCEIC6HSSYLXEI7NJIINWJESIT3XROAYC2DUEFMSRQ6HBVJ3ZWLE'

• amount < 10000

Several queries have been made to analyse different metrics:

Results

Figure 1a shows the distribution of wallet by age, days between creation and payment. Almost 50% of bounty participant have created their wallet up to 3 weeks before payment. 30% of wallets are created for the bounty, which could be added to 4% of wallets created a couple of days before, while only 17% can be considered prior users of Algorand before engaging in Flipside.

Figure 1b shows how the age trends over time. The first bounty payments in December were predominantly submitted by older users, while February bounties reached a big group of people which created their wallets for the program.

Additionally, I created also a separate query calculating the percentage of current holding to total payouts received by the wallet and aggregated this results by class, using the following distribution:

• Real Big Spender: more than 1000%

• Bird in Hand: between 500% and 1000%

• Keep it Safe between 100% and 500%

• Icing in the cake: between 50% and 100%

• Side business: between 0% and 50%

Note that percentages much higher than 100 mean that the current balance is very small comparing to the total payout received, hinting at wallets than transferred all or most of the received amount and than percentage much smaller than 100 mean that wallets have transferred ALGO from other sources that bounty hunting.

The final results is calculated by adding all sent payouts and the total balance of all wallets.

ASA holdings of wallets receiving payouts

Wallet creation date

Using 2 consecutives CTEs, joining algorand.payment_transaction and algorand.account tables first to identify each wallet receiveing bounty payouts with the block it was created and joining the previous CTE with algorand.block to match the creation date of the block and calculate the number of days between creation and payment, I create a query grouping the wallets by this metric as:

• Create and submit: created same day as paid
• Prepared creation: created between 0 and 4 days before payment
• Waited before participating: between 4 and 21 days before payment
• Prior user: more than 21 days.

Distribution of holdings vs payouts

Using a similar structure to join algorand.payment_transaction and algorand.account tables, I aggregated the number of wallets (count(receiver)) by class, using the following distribution for current balances:

• Dinosaur: more than 1000 ALGO

• Elephant: between 100 and 1000 ALGO

• Horse: between 10 and 100 ALGO

• Dog: between 1 and 10 ALGO

• Snail: between 0 and 1 ALGO

Table 2c shows a total of 87,6k ALGO have been transferred as bounty payouts to 1769 different wallets, which could be a first estimate of the number of bounty hunters participating in the program. The current ALGO balance of all these wallets is 176k, so almost 50% of it comes from bounties.

The average payout was 49.5 ALGO and the average current balance 99.5 ALGO.

Figures 2a and 2b show distributions of holdings and of percentage of holdings coming from payouts respectively.

Over 65% of wallets have below 10 ALGO as balance, meaning the bounty payouts has been transferred.

Over 60% of wallets have a current balance much lower than the total payouts received, hintin also in the same direction as above.

Only 22% of wallets have a current balance bigger than the payout received, hinting at different sources apart from bounties.