This dashboard looks through the top validators on Terra with a focus on how much of their voting power is self-delegated. We will take a look at the top 20 instead of the top 5 since the top 5 changes all the time the top 20 gives us a bit of a buffer against these changes in validator rankings.

Top 20 Validators

Let's start off by taking a look at how much LUNA is staked with the top 20 validators on the 25th of July:

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/1d182a3c-7554-4f87-b126-5878b55c6543/Screenshot_2021-07-26_at_04.06.27.png

(Interactive Link: https://velocity-app.flipsidecrypto.com/velocity/visuals/5ab36a67-6b61-4fb6-acb1-81e59d8d2f63/88e7258b-b0f0-452d-a269-647353e7618d)

So we can see that some validators like B-Harvest, Staking Fund and Orion amongst others have >10 million LUNA staked with all of the top 20 validators have about ≥5 million LUNA staked.

Top 20 Validator Staking

Let's take a look at how much LUNA they had delegated on the same date (Note: this is not the amount of LUNA self-delegated, it is simply the amount of LUNA delegated):

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/d9a0a0d1-7311-4d8a-88a3-1d95cf9867ae/Screenshot_2021-07-27_at_04.16.14.png

(Interactive Link: https://velocity-app.flipsidecrypto.com/velocity/visuals/a4eefc9c-6f5d-483b-9048-f18bd4180552/e67df8c8-0e1e-4c7c-be17-c7e0f423121d)

Looks like hashed has a lot of LUNA staked (25M!!) dwarfing most of these other validators so let's take a look at the validators' delegation on a log-scale:

https://s3-us-west-2.amazonaws.com/secure.notion-static.com/c8c0955b-1301-42d6-aa4b-baed5004495e/Screenshot_2021-07-27_at_04.15.22.png

(Interactive Link: https://velocity-app.flipsidecrypto.com/velocity/visuals/073c5c8b-22c5-4a72-b2a4-9b06e2d1a5a4/e67df8c8-0e1e-4c7c-be17-c7e0f423121d)

Looking at this data, it looks like the validators' delegation from the address they to run their validator is not as high as one would expect. Hashed as previously mentioned has a lot delegated but the second highest is Dokia Capital with 500k LUNA staked (<5% of the total LUNA staked with the validator). The rest have even small stakes, some only staking 1 LUNA from the validator address. This means its likely that they might just be running

Let's check this against the self-delegation numbers we see on Terra Station and check if validators tend to delegate with other validators:

Validator's Self-Delegation (Terra Station)

Okay, so once we have this comparison here are some things to note: