Hanabi Staking would like to clarify that we have never attempted to meaningfully participate in buying stake directly from Marinade (or the “auction”). We would also like to stress that there’s a difference between inefficiencies in rebalancing and deliberate abuse. We recommend also correlating abuse with bond configuration history to gain more holistic insights into each individual validator’s behaviour.
We would also like to note that 28% of stake being unpaid doesn’t necessarily mean 28% of APY lost, as only the cost of buying was unpaid. Stakers’ share of inflation rewards and MEV tips, which are managed by Solana and Jito respectively, are unaffected, barring commission rugging which is out of scope.
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