Commission where it goes
Every Cosmos Hub validator's withdrawn commission, followed on chain and summed. No validator is named or ranked.
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Reading it
- Two rules. When a wallet holds commission and other coins together, nobody can say which coins left. First in, first out spends the oldest coins first; pro-rata spends every origin in proportion. The gap between them is the uncertainty.
- Exchanges. Only addresses a named source labels as an exchange count as one. Addresses that look like exchange deposit addresses (many senders, deposit-style memos) are shown separately as inferred.
- Not followed further is commission that went past three wallets, into a wallet too busy to trace, into a contract or interchain account, or into liquid staking shares. It is shown, not spread across the other classes.
- USD is the value when the commission was withdrawn, not a sale price.
Selling is normal
Commission is a validator's revenue. It is taxable income when withdrawn, and it pays for servers, staff and that tax, so most operators sell some of it. These figures describe on-chain movements, not intent, and they are never used to rank validators.
A validator can see its own trace under its statement on the Validators page.
Same data by API: GET /api/tax/v1/commission-flows?rule=fifo&start=2026-01&end=2026-12 (reference).