May 2026 State of the Network Report
This report provides an overview of the Swarm network’s key metrics for May 2026, including rewards, participation levels, and node distribution, and places them in context with recent monthly trends.
Network Total Monthly Rewards
This metric shows the total storage incentive rewards paid out across the network each month.
| Month | Total Rewards (xBZZ) |
|---|---|
| December | 38,477 |
| January | 31,172 |
| February | 20,967 |
| March | 16,450 |
| April | 12,265 |
| May | 14,384 |
Total network rewards in May were 14,384 xBZZ, up from 12,265 xBZZ in April.
Monthly Median Win Values
| Month | Median Win Value (xBZZ) |
|---|---|
| December | 11.53 |
| January | 9.21 |
| February | 6.72 |
| March | 4.76 |
| April | 3.72 |
| May | 4.15 |
The median win value in May was 4.15 xBZZ, up from 3.72 xBZZ in April.
Monthly Average Win Values
| Month | Average Win Value (xBZZ) |
|---|---|
| December | 11.68 |
| January | 9.25 |
| February | 6.78 |
| March | 4.81 |
| April | 3.74 |
| May | 4.26 |
The average win value in May was 4.26 xBZZ, up from 3.74 xBZZ in April.
Active Staking Node Monthly Average Earnings
| Month | Avg Total Earnings per Node (xBZZ) |
|---|---|
| December | 18.68 |
| January | 16.07 |
| February | 11.62 |
| March | 9.08 |
| April | 6.78 |
| May | 8.64 |
Average earnings per active staking node in May were 8.64 xBZZ, up from 6.78 xBZZ in April.
Total Active Staking Nodes by Month
| Month | Active Staking Nodes |
|---|---|
| December | 2,060 |
| January | 1,939 |
| February | 1,804 |
| March | 1,812 |
| April | 1,808 |
| May | 1,665 |
The number of active staking nodes in May was 1,665, down from 1,808 in April.
Total Reachable Full Nodes Regardless of Active Status
| Month | Reachable Full Nodes |
|---|---|
| December | 4,760 |
| January | 4,270 |
| February | 4,086 |
| March | 4,089 |
| April | 4,098 |
| May | 3,851 |
The number of reachable full nodes in May was 3,851, down from 4,098 in April.
Total Winning Nodes by Month
| Month | Winning Nodes |
|---|---|
| December | 1,513 |
| January | 1,456 |
| February | 1,427 |
| March | 1,471 |
| April | 1,434 |
| May | 1,367 |
The number of winning staking nodes in May was 1,367, down from 1,434 in April.
Total Active Staking Nodes by Country
| Country | Active Staking Nodes |
|---|---|
| Finland | 1,329 |
| Germany | 249 |
| Canada | 60 |
| United States | 6 |
| Unknown | 6 |
| Ireland | 4 |
| Estonia | 3 |
| Brazil | 1 |
| Cyprus | 1 |
| Hungary | 1 |
| Japan | 1 |
| Norway | 1 |
| Portugal | 1 |
| Spain | 1 |
| Ukraine | 1 |
Finland remains the leading country for active staking nodes with 1,329 nodes, accounting for roughly 80% of the network’s active staking nodes, followed by Germany with 249 and Canada with 60.
Total Nodes By Country Regardless of Staking Status
| Country | Reachable Full Nodes |
|---|---|
| Germany | 2,067 |
| Finland | 1,544 |
| France | 122 |
| Canada | 63 |
| India | 21 |
| United States | 9 |
| Hungary | 5 |
| Lithuania | 4 |
| Estonia | 3 |
| Czechia | 2 |
| Russia | 2 |
| Austria | 1 |
| Brazil | 1 |
| Cyprus | 1 |
| Italy | 1 |
| Japan | 1 |
| Norway | 1 |
| Romania | 1 |
| Ukraine | 1 |
| Unknown | 1 |
Germany hosts the largest share of reachable full nodes with 2,067, followed by Finland with 1,544; together the two countries account for the vast majority of the network’s reachable full nodes.
Conclusion
May 2026 saw reward metrics recover from April’s levels, with total network rewards rising to 14,384 xBZZ and median, average, and per-node earnings all increasing. Participation metrics declined, with active staking nodes falling to 1,665, reachable full nodes to 3,851, and winning nodes to 1,367. The geographic distribution remained concentrated, with Finland dominating active staking nodes and Germany hosting the most reachable full nodes.
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