Who's Got The Flow?

Question in detail:

Who is holding the most FLOW?

Build a list of rankings to help us find the address with the most FLOW tokens. Identify any trends or outliers you see in this collection of whales. Bonus points if you can identify the wallet holders.

Overview of analysis:

In this investigation, the holders of FLOW token have been determined. This analysis has been divided into the following parts:

The FLOW holders and distribution of wallets by their held FLOW have been underestimated
The Identification of Whales and the actions of these Whales as:
- The Staking performance
- The Bridge transfers
- The Swap actions

Methodology:

The data provided by Flipside has been used to handle this analysis.

Step 1: Find out the held FLOW token by wallets
- Table→ flow.core.ez_token_transfers
- Method→ Difference of received and sent FLOW tokens
Step 2: Distribution of FLOW tokens among wallets

WHEN net_flow < 1 then 'a. Below 1' WHEN net_flow < 100 then 'b. 1 - 100' WHEN net_flow < 1000 then 'c. 100 - 1,000' WHEN net_flow < 10000 then 'd. 1,000 - 10,000' WHEN net_flow >= 10000 then 'e. Above 10,000'
Step 3: Action done by Whales→ Whales are wallets with over 10,000 FLOW token
- Staking
- Bridge transfers
- Swaps

Flow Blockchain:

Flow is a blockchain that was created with the aim of solving the scalability problem for NFTs (Non-Featured Tokens) and video games. Sharding is a solution to the scalability problem in blockchain networks, in this method they divide the databases and in other words they divide a very large database into small components. But the Flow blockchain network has solved the scalability problem without the help of sharding method, and in this way, it has made possible very fast and low-cost transactions in the blockchain, which is suitable for DeFi (decentralized) software such as the NFT token market, as well as video games based on They are built on the basis of blockchain and are very practical. Another thing that makes the Flow Dapper protocol unique is the use of a new encryption technique called "Secret Proof of Expert Knowledge (SPoCKs)". This technique was developed by Team Flow. SPoCKs allow any number of provers to prove to intermediate observers that they have access to the same secret knowledge.

FLOW holders and Whales:

Flow token is a native digital currency of Flow blockchain. Suggested and current uses for FLOW are:

Staking token is required for verifiers to do work on the network and earn rewards.
The token is a reward for those who adopted and welcomed this network before others.
The fee token is used to pay for transactions in the network.
A token is also intended for storage deposit accounts.
Reserve assets are intended for secondary tokens, such as stablecoins.
A token is also used to participate in the future management and development of the ecosystem.

In the cryptocurrency market, some people have a lot of coins or tokens; So much that they can completely change the currency price change process in a short period of time. Each of these Whales can cause the cryptocurrency market, including Bitcoin, to fluctuate wildly; Obviously, when they can influence the Bitcoin market, it is easily possible for them to cause extreme fluctuations on other altcoins as well.

Part 1: FLOW holders

Part 2: Activity of Whales on various sectors

Findings:

The average FLOW token held by wallets is about 303 FLOW and the current number of Whales according to the definition is about 1109 wallets.
The distribution of FLOW token shown that the most of the FLOW holders held under 1 FLOW token.
Now lets exclude the largest group (Below 1 FLOW) and find out the distribution of wallets. About 60% of users held between 1-100 tokens and its the higher group of wallets for balance (Over 1 FLOW).

Part 2-3: Swap activity

Part 2-2: Bridge activity

Part 2-1: Staking activity

Summary of part 2:

After identifying the FLOW holders and distribution of FLOW tokens among wallets, in this part the activity of FLOW Whales on various aspects have been determined:

About 20% of FLOW stake belong to Whales and the rest of it by regular users.
On December 2020, the highest volume of FLOW stake by Whales occurred with near 138 million tokens.
The bridge transfer reveals that the FLOW→ Ethereum path is the most popular path among FLOW Whales and Ethereum→ FLOW path is the second popular path.
FLOW Whales have the most active month on October , 2021 as can be seen.
Now lets identify the swap activity by Whale. As can be seen about 17.5% of swaps done by Whales.
The first month of January 2022 has the highest participation by Whales with over 10.23 million USD as swap volume.
The most popular swap pair between Whales is USDT- FLOW pair with over 44.7 million USD swap volume.

Useful links:

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani