Saber Proposals & Gauges
Question:
Q79. Create a visualization showing the total amount of SBR locked over time and voter participation rates.
How many wallets that have locked SBR actually voted on a proposal? How many wallets that have locked SBR actually voted on a gauge? Wallets that have voted on proposals and gauges? What trends are you seeing in voter participation?
Introduction:
Saber is the automated market maker (AMM) on Solana networks which perform as DEX and the biggest swap tool, accordingly. In this platform, the liquidity providers acquire yield by Saber's native token called SBR.
Tribeca governance protocol
By the usage of Tribeca governance protocol, Saber users locked their SBR token on the regarded pool and earn voting escrowed Saber (veSBR) token via gauges. In the calculation of gauges, the quantity of locked SBR and duration of lock are important factors. This means locking SBR for a long duration generates higher commission and voting power for users. The rewards have been allocated at the end of each epoch.
What are Gauges:
Quarry Gauges allow voting escrows to allocate the rewards of a set of liquidity mining pools.
Each voter specifies a weight to allocate to each pool. A user's voting power is converted 1:1 to Quarry rewards share, based on the weights that the user provided.
The next figure presents the gauges on https://tribeca.so/gov/sbr/gauges/all.
Approach:
The methodology this essay established on three steps:
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Lock SBR
Select wallets and amount from flipside_prod_db.solana.fact_transactions where programId='LocktDzaV1W2Bm9DeZeiyz4J9zs4fRqNiYqQyracRXw' --locking SBR and mint'Saber2gLauYim4Mvftnrasomsv6NvAuncvMEZwcLpD1' stands for SBR token
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Voting on proposals
Select signer from flipside_prod_db.solana.fact_gov_actions where PROGRAM_NAME='saber'
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Voting on gauges
Select voter from flipside_prod_db.solana.fact_gauges_votes where PROGRAM_NAME='saber'
Daily number of unique wallets that locked SBR and amount of lock displayed on these figures. Based on them, the following outcomes could be captured:
- The largest group of lockers happened on January.
- The maximum number of wallets locked SBR occurred on January 9th with 20 unique wallets.
- In the first day of 2022, over 29 million SBR locked.
- In the special days, the volume of locked SBR spikes and its because of the date of proposals and gauges.
The overall lock performance and voting participation shown in this part. According to the results:
- The count of unique wallets that locked SBR and obtain veSBR is 378 unique wallets.
- All of the wallets that locked SBR participated on voting for proposals.
- Only 181 unique wallets have been participated on voting for both proposals and gauges.
What are proposals:
A Proposal allows members of the DAO to interact with the blockchain. E.g., A proposal can trigger a variety of Transactions on the blockchain. Proposals may be voted on by locked voters. Proposals which pass the DAO vote are queued and executed in a Goki Smart Wallet. In other words, votes are defined by the electorate, but managed by the governor.
The next figure demonstrate the governance proposals on https://tribeca.so/gov/sbr/proposals.