Try Quests to earn cryptoOsmosis Governance: 362 and Beyond
What is the Question?🚨
Governance in the Cosmos ecosystem has been a hot topic of late - first with Cosmos Hub 82 and now in Osmosis. Osmosis Prop 362 is a vote to decide the fate of the Osmosis Grants Program (OGP). Contention aside, there have been many points and counterpoints, AND a ton of vote switching.
Let's take a look at the governance behavior surrounding Proposal 362. On the outside, it seems that a ton of voters have been switching their votes - is this actually true, or is it just big whales/validators causing these swings? What is the average wallet size (in OSMO) of the people voting? Of the people who have changed their vote more than once? Compare and contrast voting behavior of validators and average users in this context.
Further, is Prop 362 significantly different than other proposals from an engagement perspective? Analyze voting for 362 vs. other recent governance proposals.
Analyzed Topics:
- Proposal 362 Overall & Hourly Stats
- Comparison of Proposal 362 to Recent Proposals
- Vote Changing Behavior of Voters
Introduction🚩
What is Osmosis?
Osmosis is a DEX 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.
What is Osmosis Governance?
Osmosis has an on-chain governance mechanism for passing text proposals, changing consensus parameters, spending funds from the community pool, and for updating Osmosis pool incentives.
More Info
Method⚡
In this dashboard, i analyzed proposal 362 (Osmosis Grants Program) that recently happened on Osmosis from different angles and went deep in its votes and voters and compared it to other recent Osmosis proposals. Then at the end i took a look at voters vote-changing behavior.
I mainly used ==“osmosis.core.fact_governance_votes”== and ==“osmosis.core.dim_vote_options”== tables from ==Osmosis.core== database provided by Flipsidecrypto.
Also i only considered successful votes with tx_status = 'SUCCEEDED'
Proposal 362 happened between November 14th - 19th 2022 and this dashboard made on ==2022-11-23==.
Findings👀
- In this section, we are seeing proposal 362 overall and hourly stats that happened since November 14th until November 19th 2022.
- A total of 22.3K voters recorded over 24K votes in this 5 days and the highest number of votes has recorded on 6:00 AM November 15th with 2190 votes in only 1 hour.
- In overall, November 15th recorded the most votes for proposal 362 and it has the highest number of votes comparing to other days of the voting duration.
- As we see in pie charts, over 84% of votes and voters were YES option and it seems that most of the users were agreed to that proposal.
- 19.7K voters voted YES to this proposal and 1.7K voters voted NO.
- Almost 99.5% of votes belong to regular voters and only 0.5% of it belong to voter validators.
- Over 6K votes (25% of all) recorded between 4 AM - 6 AM on November 15th 2022 in only 2 hours.
Findings👀
- Above charts are comparing proposal 362 votes and voters to other recent proposals that happened on Osmosis.
- As we see proposal 362 with over 24K votes by 22K voters is higher than most of the recent proposals over time.
- Proposal 353 had the highest number of votes and voters between recent proposals with almost 45K votes that recorded by 31.6K voters.
Findings👀
- Over 80% of voters have less than 10 $OSMO followed by 100-1000 $OSMO with 9.7% in the second and 10-100 $OSMO with 8.7% in the third place.
- Proposal 362 voters have an average of 148.4 $OSMO balance in their wallets.
- Almost 0.25% of proposal 362 voters have more than 10000 $OSMO (whales).
Conclusion💡
- A total of 22.3K voters recorded over 24K votes in this 5 days and the highest number of votes has recorded on 6:00 AM November 15th with 2190 votes in only 1 hour.
- In overall, November 15th recorded the most votes for proposal 362 and it has the highest number of votes comparing to other days of the voting duration.
- Over 84% of votes and voters were YES option and it seems that most of the users were agreed to that proposal.
- 19.7K voters voted YES to this proposal and 1.7K voters voted NO.
- Almost 99.5% of votes belong to regular voters and only 0.5% of it belong to voter validators.
- Over 6K votes (25% of all) recorded between 4 AM - 6 AM on November 15th 2022 in only 2 hours.
- Proposal 362 with over 24K votes by 22K voters is higher than most of the recent proposals over time.
- Proposal 353 had the highest number of votes and voters between recent proposals with almost 45K votes that recorded by 31.6K voters.
- 98.7% of votes didnt changed their vote and it was their first and only vote, but in the other hand, almost 1% of voters changed their mind.
- Between the voters that changed their mind, over 93% of them changed their vote once, 6.6% changed their vote twice and the rest changed their vote more than 2 times!
- ==“osmo1smhtmemygu2sfry237gacjgfxa5d29e5zq3f3d”== is the biggest vote changer between top 5 voters in terms of vote changing with 8 vote changes. Rest of the top 5 have the same number of vote changes with 2 vote changes.
- Over 80% of voters have less than 10 $OSMO followed by 100-1000 $OSMO with 9.7% in the second and 10-100 $OSMO with 8.7% in the third place.
- Proposal 362 voters have an average of 148.4 $OSMO balance in their wallets.
- Almost 0.25% of proposal 362 voters have more than 10000 $OSMO (whales).
Findings👀
- In here we see some analytics about voters especially ones that changed their mind.
- 98.7% of votes didnt changed their vote and it was their first and only vote, but in the other hand, almost 1% of voters changed their mind.
- Now between the voters that changed their mind, over 93% of them changed their vote once, 6.6% changed their vote twice and the rest changed their vote more than 2 times!
- ==“osmo1smhtmemygu2sfry237gacjgfxa5d29e5zq3f3d”== is the biggest vote changer between top 5 voters in terms of vote changing with 8 vote changes. Rest of the top 5 have the same number of vote changes with 2 vote changes.
