What is Realms?

Realms provides a platform for builders on Solana to create a DAO, manage their members, vote on proposals, and allocate their treasury. Whether you are running a multisig, NFT community DAO, or community token DAO, Realms has the tools and integrations to help the communities flourish.

Realms serves as the frontend for SPL Governance, a DAO-type and asset-type agnostic standard for building and maintaining DAOs on Solana.

What is Snapshot?

Snapshot is a voting mechanism based on IPFS decentralized storage system, used by various crypto projects to access, review and study their user base via polling and conduction of surveys. In other words, it is an off-chain, gasless, multi-governance polling dashboard made for the community for receiving their feedback and opinions to reshape the decision making. Snapshot has emerged as an interactive medium and an efficient platform wherein crypto based projects can create proposals for users to vote on using their cryptocurrency

Research cases

In this dashboard we are tracking Number of voters-proposals and votes on each platforms , wallets types usding these platforms and also the chain’s whales activity on each platform.

Note: Our timeframe for answering this questions is since 1st day of 2022.

As we see Snapshot have so many more voters comparing with Realms. in fact the worst record of Snapshot is still above 2000 (beside last day because of uncomplete data) voters in one day, but in Realms amount of daily voters in 1 single day has never reached to 100, If we see the total amounts we see over 806k voters has been casted on snapshot during 2022, but in Realms this amount is over 4300.

At the first step we wiil look at the voters stats on each platform:

same as total voters, in publish proposals, Snapshot has the more power too, 28.7k proposals has been publishes on this platform during 2022, while in Realms this amount is 4473 ones.

Although we can ignore this fact here that huge snapshot superiority comparing with Realms happened in total voters has been reduced.

Just like 2 other Charts, here also Snapshot has higher stats, which seems logical due to the number of voters and proposals we see earlier.

Realms have 23k votes in total while the vote counts in Snapshot is more than 3.7M!

As we see on Average amounts, there are more voters and votes for each proposal in Snapshot too, but if we look at unique users activity, we see a unique user in Realms has voted 5.35 times, which is more than a user in Snapshot ( 4.6 votes on average).

So A unique user in Realms is more active on voting comparing a unique user in Snapshot.

We saw Snapshot have many more interactions from users, but why? I think that’s because Snapshot is a very big platform and almost all EVM based chains can run proposals on it but Realms is only for Solana chain.

So Having the total amounts we can find the average amounts to get more logical results:

Now its’s time to see these 2 platforms share on users of Ethereum and Solana chains

• Note: Due to the Solana tables error on high timeframes and ultimate loading time, we reduced the time frame for this special case to recent 45 days.

As we see on recent 45 days, 3.11% of all Ethereum Wallets have been voted at least one time on Snapshot which is 325k from total of 10.465M wallets.

Only 1162 wallets have been voted on Realms on recent 45 days, which means 99.99% of Solana wallets have not used Realms at all!

If we look at the same rate on Realms & Solana we see:

Here we are looking to top 10 proposals on each platforms with most votes and see if any DAO or provider of high share of votes or not?

As we see Arbitrum Odyssey campaign have the highest share on most voted proposals with 57.7% share in Top 10 Proposals, we can say this event influenced the voting activity in snapshot and probably introduced this platforms to many new users (me myself voted on snapshot during this campaign for the first time!)

In Realms also we see 82.3% of top 10 most voted proposals belongs to The Imperium of Rain DAO, looks like this DAO have high influence in users voting activity.

Also generally in both protocols we see top voted proposals are limited to 3 or 4 DAO and providers, it seems some of DAOs or critical proposals (like Odyssey campaign with being possible condition for including in future Arbitrum airdrop or Solend proposals in bear market about the liquidity issues) play important roles casting votes.

Finally we will see if the whales are interested to vote in these two platforms or not, for this case, we defined top 1000 wallets holding $ETH as Whale in Ethereum and top 1000 wallets holding $SOL as Whale in Solana, here you can check full list of these accounts with their balances:

After defining whales we are tracking their probable interactions with these 2 protocols:

As we see in both platforms the chain whales does not have much interactions with theses 2 protocols, in Fact $Eth holder whales have 0 interaction with Snapshot (As most of them are exchange wallets like Binance, FTX, Kraken and,…) wallets, and in Solana 0.2% of wallets interacting with Realms are whale wallets and these wallets have 0.5% share of total number votes casted in proposals.

Summery

• Snapshot have many more interactions from users (Total votes, voters and proposals, comparing with Realms, that could be because Snapshot is a very big platform and almost all EVM based chains can run proposals on it but Realms is only for Solana chain.
• There are more voters and votes for each proposal in Snapshot on average, but if we look at unique users activity, we see a unique user in Realms has voted 5.35 times, which is more than a user in Snapshot ( 4.6 votes on average), So A unique user in Realms is more active on voting comparing a unique user in Snapshot.
• On recent 45 days, 3.11% of all Ethereum Wallets have been voted at least one time on Snapshot which is 325k from total of 10.465M wallets while only 1162 wallets have been voted on Realms on recent 45 days, which means 99.99% of Solana wallets have not used Realms at all!
• Arbitrum Odyssey campaign have the highest share on most voted proposals with 57.7% share in Top 10 Proposals in Snapshot.
• In Realms 82.3% of top 10 most voted proposals belongs to The Imperium of Rain DAO.
• In both protocols top voted proposals are limited to 3 or 4 DAO and providers, it seems some of the DAOs or critical proposals (like Odyssey campaign as being possible condition for including in future Arbitrum airdrop or Solend proposals in bear market about the liquidity issues) play important roles casting votes.
• $ETHholder whales have 0 interaction with Snapshot (As most of them are exchange wallets like Binance, FTX, Kraken and,…) wallets, and in Solana 0.2% of wallets interacting with Realms are $SOL holder whales, these wallets have 0.5% share of total number votes casted in proposals.

Resources

Contact

Discord: Hessamsh#9153