Introductions

What is Osmosis?

a protocol, which means it uses smart contracts to determine the price of digital assets, to produce liquidity via a peer-to-peer (P2P) methodology, and to exact trades between users. This approach to an exchange platform is known as an AMM a DEX protocol that prices crypto assets in liquidity pools, it was launched in late 2021.

What are governance proposals?

On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are encoded into the blockchain protocol. Developers propose changes through code updates and each node votes on whether to accept or reject the proposed change.

What are validators?

Validators, much like miners in a Proof-of-Work(PoW) network, are network nodes that operate in Proof of Stake (PoS) blockchains, also validating transaction blocks to the blockchain.

What is covered in this analysis?

• Props 114, 196 & 337 were all passed in an effort to promote decentralization within the ecosystem so how was governance impacted by this efforts?

• Analyzing the participation of the new validators on the governance proposals after the active set increases taken place, how did the new validators vote compared to the original top 66% of validators? did time played a role?

• Visualizing changes to governance participation in the past 1-3 months after these passed proposals.

Methodology

The gathered data regarding Osmosis voting Proposal 114, 196 and 337 pools and their voters were extracted via mainly using osmosis.core.fact_governance_votes ,osmosis.core.dim_vote_options and osmosis.core.fact_stakingtables, all of the mentioned tables were provided by Flipsidecrypto database, to make these raw data more comprehensible, proper types of charts and graphs were utilized.

This analysis was gathered on 2022/11/10

[1]Old voters and new voters voting actions

[1/2]Discoveries

• Most of the jump to voters power(top66%) happened on adoption of proposal 196 with it reaching from 61M to 114M, voters have a total of 120M voting power.
• Highest change to top 66% voters was captured in 60 days time period with proposal 196 voter power jumping from 76M on Jun30 to 91M on Jul14, 337 experienced largest decrease to its voting power in 30day time period and proposal 114

Conclusion

• Overall 275 validators accumulated, on Jan1, highest volume of validators on May13, with 72 old and 3 new voters submitting 450 votes, Jul10 2021 with 47 validators had the most newly gained validators they had majority of their activities on Jun-Jul 2021 but Old voters are the majority of daily voters could be due to voters being considered old validator by time these new voter submitted the most average vote on Nov1 with 4 votes per voters, daily validators increased since Jan2022.

• Proposal 337 lost the most voting power among the other two, 196, saw an increase to its voting power and proposal 114 haven’t changed much in a 90 day time frame among top66% and voting was started on Jan10-May15 2022, May16-Oct7 and Oct8- on 114, 196 and 337 proposals respectivaly.

• Proposal 196 have the most voters and voting power with 43K voters with 44.5K voting power followed by 337, 22K voters and 23.3K voting power and 114 3.3K and 3.8K voting power, all of the proposals have majority of voters voting yes, 114 had the most relative ‘no’ votes.

• Validators voting power have increased in 2022 with osmovaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpf6t4agt having the most voting power on 3rd week of Oct 2022, with 20.2M voting power, validator osmovaloper1clpqr4nrk4khgkxj78fcwwh6dl3uw4ep88n0y4have overall the most voting power, 624M, 24% of all other validators. smovaloper1z89utvygweg5l56fsk8ak7t6hh88fd0axx2fya on first quarter of Jul 2022 had the most volume of tokens inflow on Osmosis by with 3.7M, 3rd week of Oct 2022 saw the most volume of outflow and in total osmovaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpf6t4agt had the most volume of inflow to Osmosis with 17.5B.

  Looks like validators participation increased on second proposal, 196 and it took the largest step toward decentralizing Osmosis more and with more time passed new validators reached and adapt with the top66% voters which were showing signs of decreasing interactions.

Thank You For Your time!

[2]Proposal voting pools composition

[3]Discoveries

• Validators voting power seems to be increasing over time voter osmovaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpf6t4agt having the most voting power in single week, on third week Oct 2022, 20.2M voting power, validator osmovaloper1clpqr4nrk4khgkxj78fcwwh6dl3uw4ep88n0y4have overall the most voting power, 624M, 24% followed by osmovaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpf6t4agt 450M 17%.
• First week of Jul 2022 saw the most inflow volume by osmovaloper1z89utvygweg5l56fsk8ak7t6hh88fd0axx2fya with 3.7M volume and third week of Oct 2022 saw the most outflow volume, overall most inflow volume was done by osmovaloper1hjct6q7npsspsg3dgvzk3sdf89spmlpf6t4agt with 17.5B followed by osmovaloper1clpqr4nrk4khgkxj78fcwwh6dl3uw4ep88n0y4with 15.5B volume of token inflow to Osmosis.

Top66% vs new validators changes overtime

[1/1]Discoveries

• Overall 275 validators accumulated with biggest jump to its growth on Jan1, highest volume of validators were on May13, with 72 old voters and 3 new submitting 450 votes Jul10 2021 with 47 validators had the most new validators gained and validators had a notable increase since Jan2022.
• Nov1 had the most votes per validators with New voters submitting 4 votes per voters on average but mostly its on the same average vote among validators.

Top66% vs new validators daily and average vote

[2]Discoveries

• Proposal 196 with 43K, 62.8% voters and 44K, 62% voting power accumulated the most votes followed by 337, 22K 32% voters and 23.3K, 32.6% voting power and 114, 3.3K, 4.8% voters, 3.8K power.
• 39K validators voted yes, 1.67K no and 1.6K abstain on proposal 196, 337 had 21.5K validators voted yes, ~350 no and 350 abstain as for proposal 114 the composited votes were 2.2K validators voted yes, 680 no and 382 abstain.
• Proposal 196 seems to be the most favorite and hyped proposal among voters.

[3]Validators weekly actions