Voting Activity

Q1. The Lil Nouns DAO is controlled via onchain voting by token holders. Using the ethereum database, analyze voting activity on Lil Nouns proposals. Since voting is on chain and costs gas, are smaller holders excluded from the voting process? Visualize and analyze this question, along with any other trends you find that are relevant.

Introduction

Using a fork of Compound Governance from Nouns DAO, the Lil Nouns DAO is the primary governing body of the ecosystem. The daily ETH revenues from Lil Noun auctions go entirely to the Lil Nouns DAO treasury. Each Lil Noun has one vote in the Lil Nouns DAO and is an indisputable member of the organization. There are no transferable or delegatable votes for Lil Nouns. However, if you sell your Lil Noun, your vote will go with it. You can, however, assign your vote to someone else while you still own your Lil Noun.

Method

In the current dashboard, I used the ethereum.core.fact_event_logs table to analyze voting activity on Lil Nouns proposals. I'm also tried to find out if, Because voting on a chain costs gas, are smaller holders excluded from the voting process? The answers to these questions are presented as below.

Analysis

Only 16.5% of Lil Nouns holders participate in votings.

As of above chart, May 22th was the day with most voting and highest voter participant, and after that it went on a decreasing trend to date.

Discord:0xHaM☰d#8391

Findings

Only 16.5% of Lil Nouns holders participate in voting. This could be due to GAS costs that, amongst 730 holders, only 157 people participated in voting.
May 22nd was the day with the most voting and the highest voter participation.
On June 8th, 18 voters participated in voting, and 425 times voted. That was the peak of the count of votes per day.
The cumulative growth in voting was so sharp till June 15th, and in the 3 past days, it has been smoother.
15 proposals, voters participate in voting.
Total voters 157 people; total paid fees 1.47 ETH; and average GAS used (Gwi) 84.28k.

On the Jun 8th the number of 18 voters paticipate in voting and 425 times voted, that was the peak of count of vote per day.

The cumulative growth in voting, the count of voters and voting transactions are shown in the above chart.

In the last two above charts, the spent fees ($ETH) and gas (Gwi) consumed by each voter are shown.

As of above DONUT graph, The Proposal by Id = 15 has most participants in voting, 353 voters, That followed by Id = 16 and 17.