Delegation activity analysis for MonkeDAO validator in Solana

2 min readFeb 15, 2022


The MonkeDAO was the first NFT DAO on Solana and also was the first NFT DAO to set up a validator in an effort to help decentralize and secure the network. Users can choose to stake their SOL and delegate to the validator to support the stakes. So, in this article, we are going to explore a quick analysis for the unique wallet addresses which did the staking to MonkeDAO.

Validator Address

The Address for MonkeDAO validator in Solana is: DfpdmTsSCBPxCDwZwgBMfjjV8mF8xHkGRcXP8dJBVmrq. Using SolanaBeach, we can find the detailed information about this

Sample Transaction

Looking at the sample transaction: 4LmQFYcQwwuPvMkMGxyVoQU1Rx6GQXYjtpuBXMsmAv7uvS87s47mrNat1Z578GXesAmwMyYvC7LR3jYEeGNuKeeA

Scrolling down to the instruction part, for this delegation activity, there are 6 steps in total. But what we are really interested in is just #2 and #6:

  • #2 — StakeAccount is the account which staked the funds to the validator
  • #6 — VoteAccount is the vote account, which determine who is the validator, here is the MonkeDAO.

Delegation activity analysis

Here is going to analyze the question that how many unique wallets since February 1st have decided to delegate their staked Solana to the MonkeDAO validator?

Plot is shown as the below, as this is just launched and there are not much wallets, daily average unique wallet address is around 2.6 and the peak time is on Feb/10th. Linking to my previous article Solana — liquidation analysis for Saber and daoSOL (MonkeDAO), we can know that Feb/10th is the day when unique wallet addresses increased a lot. There should have some correlation there.

Thanks Flipside Crypto for providing the data.




On-chain analyst, passionate to deliver nimble self explanatory visualized blockchain analytics. Wishing a world without any type of hierarchical contempt.