Introduction:

Saber is the leading automated market maker that created on Solana bockchain. The wallets who provide liquidity on pools get yield by SBR token. By using these tokens, the Tribeca governance protocol is adopted to cast votes for each pool with gauges. The important part of this protocol is locking native token (SBR) on each pool and the gauges determined based on the amount of SBR and duration of locked.

The important part of the Saber lock process is epochs where the exact date of starting of first epoch was Jan 20, 2022. The exact date of each epoch are obtained based on the presented data about epochs in this image.

The amount of tokens locked over time from January 19 to the present is shown in this figure. Each interval or epoch represents a week. The first epoch starts on January 20 and continues until January 27. Then the second epoch starts and will continue until February 3. As shown in the figure, right after the end of the first epoch and on January 28, the maximum amount of SBR tokens was locked, which is about 1.6 billion tokens.

In this way, the amount of SBR tokens locked over time and at different epochs is extracted from this graph.

Now we want to get the top wallets that have the most Saber tokens locked in February. The results of this simulation are shown in the bar-chart.

According to this figure, the top wallet locking Saber tokens has locked more than one billion tokens and is in the second place with a wallet with 208 million locked tokens.

Our goal in this section is to see if these top wallets have locked the SBR tokens in the protocol all at once, or locked their SBR tokens several times over time and action. The number of locking in the pools by the top wallets is shown in this figure.

According to this figure, out of the top 20 wallets, only 5 wallets have locked all their SBR tokens in the pools at once. There is also another wallet that has locked its SBR tokens 50 times over time.

In this section, we want to evaluate what other projects and protocols of these top wallets participated in the Solana ecosystem.

The results of using from other Solana projects by top wallets are shown in this figure. As mentioned in this figure, in February these top wallets participated in only 12 different projects. The project related to the Saber Token Locking is in the first place. The next ones are the use the Serum platform, swap programs and etc.

Summary:

The overall goal of this study is to find the top wallets that lock the Saber token and also to evaluate the behavior of these wallets after the locking process.

According to the results, the amount of locked saber tokens increased in the last days of February, as it reached its highest level in the last days of January. Most top wallets have locked their Saber tokens more than once, and only a handful of wallets have locked the entire amount of their tokens in one set at a time. In addition to the Saber Token Lock project, the top wallets have also participated in other projects, such as the Token Face project, etc.