What is the distribution of the LUNA’s supply?

  • Or, are these tokens widely distributed?

Analysis Method

  1. First, I looked at all of the wallets (Terra-owned, Exchange, Smart Contracts, Validators etc.) and looked at the Total Supply, Top 100 wallets by LUNA balance, Top 1%, 5% and 10% by LUNA balance.
  2. Then I removed all of the wallets that belonged to Terra, Exchange, Smart Contracts and computed the numbers for Total Supply, Top 100 wallets by LUNA balance, Top 1%, 5% and 10% by LUNA balance.
  3. To see how these ratios changed over time, I computed them on the last-day of the month from the earliest date in Flipside tables which was around March 2020.
  4. Interactive charts can be found here — https://app.flipsidecrypto.com/dashboard/139-terra-luna-distribution-RXMnKN

Insights

All Wallets

First, let’s look at all wallets.

  • $LUNA Staking on Upbit

Filtered Wallets

Now, let’s remove all the Terra-owned, Exchange, Smart Contracts, Validators etc. wallets and focus on what are likely to be real users. Here’s what we observe from these wallets:

  1. We still see a similar 40 Million LUNA difference between the Total Supply here and the Top 100. It is likely these are the same smaller investors that joined in October 2020 that make up for that difference.

So, what did we learn?

We learnt that almost 98-99% of LUNA is concentrated in top 1% of the wallets whichever way you look at it (All wallets or filtered wallets).

https://www.statista.com/statistics/299460/distribution-of-wealth-in-the-united-states/

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jp12

jp12

Product strategy by day. On-chain crypto analyst by night.