flipside

    Try Quests to earn cryptoTry Quests to earn crypto
    Share

    Terra.Whale.Voters

    Terra is a blockchain network that uses the Cosmos SDK and specializes in making stable coins. On the Terra network, instead of using Fiat money or high cryptocurrencies as reserves, each stable coin can become the local token of this blockchain called LUNA. Due to the benefits of Terra network, many users including whales are transferred their assets to this network. A whale is defined as "a person who, having a sufficient amount of a currency, has a great influence on market prices by buying or selling in large volumes." Although a wealthy person is commonly referred to as a whale, the term is also used to describe an institution or organization with a high amount of digital currencies and influence in crypto markets.

    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Introduction:

    In this question, the governance vote of Terra blockchain and take part of Whales are examined.

    First we should define whale. The definition of whales is very personalize due to the concept of target blockchain, volume of assets and etc.

    The wallets which hold over 800000 USD are introduced as Whale in this dashboard. According to this definition, the acquired variables are calculated.

    According to the bounty, the proposed Terra voting governances are Luna, Anchor and Mirror. The aim of this question is finding the whales (users) that take part in a least one governance voting. Based on the considerations and definitions, 264 whales were taken part in at least on of the mentioned governance voting of Terra blockchain.

    Based on the definition of whale, the total number of whales (wallets) are obtained as 1253 user. These users are the top wallets that holds huge amount of USD in their accounts.

    Also, we can find the number of users (whales) that have not participated in any of the governance voting of Terra network and the estimated number is 989 whale.

    The important part of this dashboard is the rate of participation on Terra governance voting for whales (users). By the use of Whale definition and Terra tables in Flipside crypto organization, the percent of participation on Terra voting is calculated as 21.07 %.

    The distribution of votes between wallets (Whales) is shown in the figure above. As shown in this figure, the maximum vote for single wallet is 105 and the minimum vote is 1.

    Summary:

    As can be seen from the simulation results, the whales are reluctant to participate in the voting and only want to use the large amount of their own assets to financially exploit the collections in order to achieve their desired profit.