Livepeer Delegator Outflows — By Delegator Size Band (Arbitrum)

This report answers:

• Which delegator size cohorts drive outflows (by count vs by LPT)?
• Are size bands growing (via new delegators per year) or shrinking?

Inputs

• Universe: data/arbitrum_delegator_addresses.json (4,887 addresses)
• State aggregates: ../../artifacts/livepeer-bm-scan-arbitrum-v2/delegators_state.pkl
• Scan window: blocks 5856381 → 422367841 (updated 2026-01-17T17:52:21.074415+00:00)

Outflows by size band (band = max bonded stake per wallet)

• Total delegators in universe (first bond observed): 4,887
• Wallets that ever withdrew stake (WithdrawStake): 2,322 (total withdrawn: 23,808,745.439 LPT)
• Wallets that ever unbonded (Unbond): 2,684 (total unbonded: 42,256,849.154 LPT)

Band (max bonded)	Delegators	Withdrawers	% of withdrawers	Withdrawn LPT	% of withdrawn
<1 LPT	625	51	2.20%	47,265.259	0.20%
1–10 LPT	472	222	9.56%	229,162.145	0.96%
10–100 LPT	1,663	751	32.34%	263,309.111	1.11%
100–1k LPT	1,319	760	32.73%	692,608.731	2.91%
1k–10k LPT	489	338	14.56%	1,615,443.091	6.79%
10k+ LPT	319	200	8.61%	20,960,957.103	88.04%

Interpretation (quick)

• Withdrawn LPT is expected to be concentrated in 10k+ (whale-size wallets).
• Withdrawer count tends to be concentrated in the mid-size retail bands (10–100, 100–1k).

High-stake cohorts (by max bonded threshold)

Cohort	Delegators	Withdrawers	% of withdrawers	Withdrawn LPT	% of withdrawn
≥10k LPT	346	202	8.70%	21,058,550.212	88.45%
≥100k LPT	68	40	1.72%	14,732,117.009	61.88%

New delegators reaching high-stake thresholds

Year	≥10k	≥100k
2022	126	37
2023	108	8
2024	59	15
2025	51	7
2026	2	1

New delegators by year (first bond timestamp)

Year	Total	<1	1–10	10–100	100–1k	1k–10k	10k+
2022	2,213	471	214	776	485	147	120
2023	1,492	73	102	611	507	110	89
2024	685	26	81	176	215	128	59
2025	482	54	75	98	106	100	49
2026	15	1	0	2	6	4	2