THORChain Introduction

THORChain is a decentralised liquidity network that aims to support cross-chain liquidity pools without pegged or wrapped tokens. The goal of THORChain is to serve as the backbone for numerous user interfaces while enabling non-custodial asset trading between various blockchains like Bitcoin, Ethereum, Dogecoin, Litecoin, and Bitcoin Cash.

Dashboard Introduction

The THORChain network is serviced by THORChain Nodes. Each node in a cluster is made up of numerous separate servers. To construct a cross-chain swapping network, all nodes communicate and work together. However, running an unstable node will leads to rewards being slashed and for every 1 slash point a node receives, they lose 1 block of rewards.

Hence in this dashboard, we will look into the performance of THORChain Nodes. This will help identify which nodes—Pooled Nodes or Classic Nodes—performs better in terms of points slashed.

Approach

1. Main table used: flipside_prod_db.thorchain.bond_events, flipside_prod_db.thorchain.slash_points
2. The nodes will be divided into Pooled Validators and Classic Validators.
3. For comparison, we will look at the total points slashed for each validators, as well as the average and max points slashed for each category.

Topics

1. THORChain Nodes Analysis
2. Nodes Slashing Events
3. Conclusion

THORChain Nodes Analysis

• The metrics above depicts the monthly number of new unique addresses participating in THORChain Nodes.
• As can be seen, there are new unique addresses participating in pool THORChain Nodes every single month.
• Furthermore, June 2021 and March 2022 saw the highest number of new unique addresses with a total of 22.
• The cumulative graphs shows that the number of new entity has been steadily increasing month after month.
• As of October 2022, there are a total of 193 unique addresses participated in THORChain Nodes.

Nodes Slashing Events

Conclusion

1. THORChain Nodes Analysis:

   • Every month, there are new unique addresses join the THORChain Node pool.

   • A total of 193 unique addresses participated in THORChain Nodes as of October 2022.

     \

2. Nodes Slashing Events:
   • The points being slashed from Pooled Validators were considerably less when compared to Classic Validators.
   • Pooled Validators accounts for only 9.5% of the total points slashed.
   • The max amount of points slashed from a Classic Validator is around twice the max amount of a Pooled Validator.
   • As a result, due to the fact that Pooled Validators have been slashed way less, we may deduce that on THORChain, Pooled Validators have been performing substantially better than Classic Validators.

• The metrics above depicts the details of points slash for THORChain Nodes.
• We can see that the total amount of points slashed on THORChain has been steadily growing and as of October 1st, a total of 3.12 million points have been slashed.
• November 2021 and April 2022 had the most points slashed in a month with each having more than 350k points slashed.
• When comparing Classic Validators with Pooled Validators, we can observe that the amount of points slashed from Classic Validators is significantly higher than Pooled Validators.
• Out of all the points slashed, Classic Validators account for 90.5% or 2.82 million points. Whereas, Pooled Validators account for only 9.5% or 296.63k points.
• On top of that, the max points being slashed from a Classic Validator is 169.78k and Pooled Validators had only 86.67k max.
• Nonetheless, the average points slashed from Pooled Validators is slightly higher than Classic Validators with 13.48k and 13.26k.