Validators are network participants who will be taking the responsibility of running a full node, listen to transactions broadcasted in the network's member pool and include them in blocks that they sign on Terra ecosystem.

Luna holders, in general do not stake their tokens directly, but delegate their Luna to a validator. A validator's voting power is proportional to the amount of Luna they have bonded, from all delegations (including their self-delegation). But, Delegators will have the privilege to determine which validators receive this designation, voting by delegating their Luna.

Here is the Total number of validators who have been delegated LUNA over the past 6 months captured on daily basis in the Terra ecosystem.

These Total validators count is further drilled down based on the action type during the past 6 months.

• Delegate
• Redelegate
• Undelegate

Observations:

We could see from the above graphs that from July onwards, Daily Validators count has started raising indicating that most of the Validators are available online reiterating the Churn.