Overview

• For this analysis we focus mainly on the Terra Governance and the 5 most recent proposals.
• 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 and voters

Methodology

• For the metrics we look at various Terra core tables such as and deduce the required metrics.
  • terra.core.fact_transactions
  • terra.core.fact_governance_votes
  • terra.core.fact_governance_submit_proposal
• To find the most recent proposals, we look at the first vote for each proposal and select the 5 most recent proposal based on that.

Participation

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

• Average is 59 days for all the wallets to take part in governance after their first transaction, which is awfully long.
• Longest was 236 days till now.
• The most common number is 33 days after the first transaction is when the wallets take part in governance.

Voters

• The number of voters really peaked in Sep 2022 with 2.1K voters voting in the month.
• There was a decline after that and it went as low as 600 voters in Nov 2022.
• Most of the voters have voted for 1 proposal with a total of 2.3K vs 1.2K voting for 1-10 proposals.

Proposals

• The most popular proposal by number of voters has been 349 with 736 voters taking part.
• Followed by 986 with 675 voters.
• For popular proposals by number of votes the 349 and 986 are winners with 797 and 745 votes each.

5 Most Recent Proposals

• Given below are the 5 most recent proposals.
• Each one has a title and description next to it for better visibility.
• 3796: ERIS Protocol Revised Grant Proposal is the most popular proposal from the 5 recent ones with 300 votes and voters which is almost 50% than the all-time most popular proposal 349.
  • Most of the votes for this proposal came on Jan 15, 2023 by a total of 64 votes.
• Surprisingly there were no proposals being voted on between Dec 25, 2022 and Jan 10, 2023, seems like everyone was enjoying the New Year.
• 3794 and 3795 Texas Poker Grant has 2 proposals, with the second one being updated.

5 Most Recent Proposals - Breakdown by Vote Type

• Given below are the 5 most recent proposals breakdown by vote type.
• 3619: Phoenix Software Upgrade 2.2.0 is the most popular proposal with an overwhelming percentage of yes votes.
• 3796: ERIS Protocol Revised Grant Proposal is another popular proposal with an overwhelming percentage of yes votes.
• Texas Poker Grant both initial and updated proposal, both are the most downvoted proposals.
• Something to note is a lot more proposals are getting downvoted with now in this new year.

Conclusion

• Average is 59 days for all the wallets to take part in governance after their first transaction, which is awfully long.
• 3796: ERIS Protocol Revised Grant Proposal is the most popular proposal from the 5 recent ones with 300 votes and voters which is almost 50% than the all-time most popular proposal 349.
• Surprisingly there were no proposals being voted on between Dec 25, 2022 and Jan 10, 2023, seems like everyone was enjoying the New Year.
• 3619: Phoenix Software Upgrade 2.2.0 is the most popular proposal with an overwhelming percentage of yes votes.
• 3796: ERIS Protocol Revised Grant Proposal is another popular proposal with an overwhelming percentage of yes votes.
• Texas Poker Grant both initial and updated proposal, both are the most downvoted proposals.
• The community seems to be very picky in terms of community funding now and only giving it to developers that are adding to the ecosystem, rather than distributing it freely to anyone.
• To make your proposal stronger give something back or add to the community is my suggestion.

Bonus: Comparing 2 Recent Proposals

• We compare the following two proposals:
  • Most popular proposal, with the high number of Yes Votes 3796: ERIS Protocol Revised Grant Proposal *
  • Most unpopular proposal, with the high number of No Votes 3794 & 3795: Texas Poker Grant *
• While both the proposals seems to be well written and the teams seems like they have/can deliver, the main differences between Yes and No seems to be following:
  • ERIS Proposal breaks down the fund usage well, with reasonable costs such as Infra costs vs Terra Poker’s 40K infra cost is just too high and unclear.
  • ERIS is giving back 10% to the community pool and is sharing the success with the community, where as Terra Poker proposal s not giving back anything to the community.
  • ERID adds a very important component LSD to the ecosystem, where Terra Poker is something that is good to have and not very important.
  • One more thing stands out is ERIS team did not raise any capital by selling tokens, where as Terra Poker team did raise initial capital with TPT tokens and yet not giving anything back to the community, they don’t need additional funding is the general consensus.
• The community seems to be very picky in terms of community funding now and only giving it to developers that are adding to the ecosystem, rather than distributing it freely to anyone.
• To make your proposal stronger give something back or add to the community is my suggestion.