THORswap's $THOR token can be staked in exchange for vTHOR. THORswap calls vTHOR a "membership staking token". It grants holders a 75% share of THORswap's revenue, discounted trading fees, and auto-compounding staking rewards.

In my other posts, we learned that ~1,500 addresses are staking a total of over 33 million THOR tokens.

Methodology

In this article I present some data on the distribution of THOR staked. I show the vTHOR holdings of the biggest THOR stakers as well as the share of circulating vTHOR held by these whales.

The intent of this analysis is to look at the distribution of THOR currently staked. When THOR is staked, it is exchanged for vTHOR. Therefore, to identify the biggest THOR stakers, we can query ethereum.erc20_balances and filter addresses based on their current vTHOR balances.

In simple terms, addresses holding the largest amounts of vTHOR are the biggest THOR stakers.

In the next section, you will learn:

• The total circulating supply of vTHOR,
• The vTHOR holding of the 100 largest THOR stakers, and
• The share of circulating vTHOR held by the 100 largest THOR stakers.

Result

There are almost 30 million vTHOR in circulation. Because of vTHOR's auto-compounding feature, the amount of circulating vTHOR will always be lower than the current amount of staked THOR.

The one hundred largest THOR stakers hold 80% of the circulating supply of vTHOR.

Shown above are the 100 addresses with the largest vTHOR balances. These are the largest THOR stakers.

One address stands out with 5 million vTHOR. At time of writing, this is worth ~2.2 million USD.

While ~1,500 addresses are currently staking THOR, 80% of current THOR staked was staked by the top 100 largest stakers.

The largest stakers are responsible for a significant share of total THOR staked.

Takeaways