Open Analytics - 9. Osmosis - Governance, Proposals and Voters

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Overview

For this analysis we focus mainly on the Osmosis Governance.
We look at the User Metrics and how long it takes for the user their first governance participation.
We look at other metrics like the most popular proposals till date based on number of votes or voters
How much OSMO tokens have been deposited for proposals.
In the end we look at the Validator share to see how de-centralized is Osmosis.

Methodology

For the metrics we look at various OSMO core tables such as and deduce the required metrics.
osmosis.core.fact_transactions
osmosis.core.fact_governance_votes
osmosis.core.fact_governance_proposal_deposits
osmosis.core.fact_validators

Participation

This tells us how long an Osmosis wallet takes to participate in governance after the first transaction

Average is 28 days for all the wallets to take part in governance after their first transaction.
Longest was 546 days till now.
The most common number is 7 days after the first transaction is when the wallets take part in governance.

Voters

The number of voters really peaked in April 2022 with 1M voters voting in the month.
There was a decline after that and it went as low as 0.25M voters in Sep 2022.
It has not again picked up with 0.5M voters in Dec 2022.
Most of the voters have voted for 1-10 proposals with a total of 70K vs 68K voting for 10-50 proposals.

Proposal

The most popular proposal by number of voters has been 206 with 55.3K voters taking part.
Followed by 210 with 53.9K voters.
For popular proposals by number of votes the 184 and 188 are winners with 40K votes each.

Conclusion

The earlier proposals clearly had more OMSO deposited towards the proposals, this number fell down to 500 OSMO until 300 proposals, and it is now gone upto 1500 OSMOs again.
The highest amount of OSMO deposits was in Dec 2022 where we saw 35K OSMO deposited.
Average is 28 days for all the wallets to take part in governance after their first transaction.
The most common number is 7 days after the first transaction is when the wallets take part in governance.
The number of voters really peaked in April 2022 with 1M voters voting in the month.
The most popular proposal by number of voters has been 206 with 55.3K voters taking part.
For popular proposals by number of votes the 184 and 188 are winners with 40K votes each.
The decentralization is not that great, but I think with time this can certainly be improved.

Depositors and Deposits

Proposal 19 is the clear winner with 82 depositors.
- Proposal 103 comes in second with 65 depositors.
Proposal 4 is the clear winner with 3400 OSMO deposited
- Proposal 6 comes in second with 2600 OSMO deposited.
If we look at proposals, the earlier proposals clearly had more OMSO deposited towards the proposals, this number fell down to 500 OSMO until 300 proposals, and it is now gone upto 1500 OSMOs again.
The highest amount of OSMO deposits was in Dec 2022 where we saw 35K OSMO deposited.

Decentralization

Top 3 validators own 22% of the voting share, which is crazy if you think about it.
Top 13 validators own 40% of the voting share.
Top 2 validators out of the Top 10 own 46% of the voting share between Cosmostation and Figment
The decentralization is not that great, but I think with time this can certainly be improved.

flipside