90% of the available supply of DeFi tokens is concentrated in 500 wallets, according to a study by CryptoLab Digital Assets Investments head Simone Conti.
I want to share my personal analysis regarding #DeFi Token Holders. Considerations:
— Projects born before #DeFi ‘ve more holders for the airdrops
— Almost all projects’ve 30% of their supply held by Top 5 holders and 90% by Top 500 (some of them ~100%)How far are we from #De? pic.twitter.com/zW431ILN4C
— Simone Conti (@simoneconti_) August 6, 2020
He studied the 10 largest projects in the decentralized finance sector. In most cases, 40% of tokens are held by the five largest wallets. The exception is Bancor, where this figure stands at 33%.
The greatest concentration is observed in the Meta (MTA) project, where five addresses hold 97.23% of the total circulating supply. The 500 largest wallets account for 99.78%.
Compound (COMP) and Balancer (BAL) also rank among the top three by this metric. 99.92% and 99.61% of tokens are held on 500 addresses, respectively.
Because of the difficulty of counting, figures differ among analysts. Spencer Noon, CEO of DTC Capital, said that on five addresses Yearn.Finance (YFI) holds only 9.5% of tokens, compared with 59.4% cited by Conti.
Combined Ownership % Of Top 5 Addresses 🐳$COMP: 64.6%$BAT: 24.5%$MKR: 23.5%$ETH: 12.9%$YFI: 9.5%
It’s only 2 weeks old but $YFI is already the most decentralized #DeFi project ever.
The result?
Easily the most engaged early-stage #crypto community I’ve ever seen.
— Spencer Noon (@spencernoon) August 3, 2020
Last week, the amount of funds frozen in DeFi services surpassed $4 billion. At the time of writing, the figure had approached $4.5 billion.
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