Try Quests to earn cryptoTerra Grants Funding
What is the Question?🚨
Examine grants funding since the launch of Terra 2. If possible, identify the grants transactions (feel free to supplement this with off-chain research to identify who’s been funded and in what amounts).
Based on your investigation, produce a simple, clean dashboard that tracks grant funding thus far on Terra 2.
Analyzed Topics:
- Terra Grants Total Stats by Their Type
- Terra Grants Overview (CommunityPoolSpend)
Introduction🚩
What is Terra 2.0 ?
Terra (LUNA) 2.0 is the newest iteration of cryptocurrency on the Terra blockchain. In May 2022, the Terra blockchain experienced a hard fork prompted by founder Do Kwon and voted on by the community. This created the new Terra 2.0, with a new cryptocurrency, dubbed LUNA or LUNA2, while the original blockchain and coin took on the moniker LUNA Classic or LUNC. Both blockchains still exist and operate separately, which can cause confusion for new investors. The old token was renamed terra classic (LUNC), and while the original Cosmos chain will continue to operate, the option to mint or burn coins will be disabled. The new blockchain was launched on 28 May 2022.
More Info
What is Governance Voting?
Governance for Blockchains includes giving participants roles and accountability, decision rights, incentives, regulatory compliance requirements, and technical design and architecture decisions.
The Terra protocol is a decentralized public blockchain governed by community members. Governance is the democratic process that allows users and validators to make changes to the Terra protocol. Community members submit, vote, and implement proposals. The governance module maintains the logic for all governance activity.
In PoS (Proof Of Stake) chains such as Terra, users who have Staked native chain’s asset ($LUNA) are eligible to vote on governance proposals. These chains have an on-chain governance mechanism for passing text proposals, changing consensus parameters, and spending funds from the community pool. These governances are driven by the community, which has a large overlap with the Cosmos community.
Actually, Governance tokens are a type of cryptocurrency that allow token holders to vote on the direction of a blockchain project. The primary purpose of governance tokens is to decentralize decision-making and to give holders a say in how the project is run.
More Info
Method⚡
In this dashboard, i made a deep dive analysis about Terra grants funding since Terra 2.0 launch. For extracting the proposals and their information, i used ==“terra.core.fact_governance_votes”== and ==“terra.core.fact_governance_submit_proposal”== and ==“terra.core.fact_transactions”== tables from ==Terra.core== database provided by Flipsidecrypto. I analyzed Community Pool Spend type of proposals on Terra because they are usually being used for grants and funding proposals.
I filtered Community Pool Spend grants with proposal_type = ‘CommunityPoolSpend‘
These grants get proposed on Agora.terra.money website and people discuss about them and after that they vote.
Findings👀
- In above, at first i showed top 10 CommunityPoolSpend proposals in terms of number votes, voters and vote weight. Then i extracted All Community Pool Spend Proposals from Terra tables and showed them with their information such as status, title, description and many more.. .
- We can see proposal #986 which called Terra Phoenix Airdrop was the most popular proposal among voters on Terra and it has recorded almost 745 votes by 669 voters. This proposal had the highest vote weight too.
- Also Proposal #986 got passed.
Findings👀
- First bar chart is showing all Community Pool Spend Proposals with their voting activity. As i said earlier Terra Phoenix Airdrop proposal has recorded the highest voting activity by Terra governance followed by proposal #4596 which was for incentivizing the Luna_USK pool on Kujira’s BOW and it got passed too.
- Metricsdao also proposed a grant for data curation on New Terra 2.0 and it got passed too with 313 votes by 268 voters. (Proposal #902)
- Out of 32 proposals for Community Pool Spend type, 18 of them got rejected and only 14 of them got passed. Over 56% of them sadly got rejected.
- Left chart is showing the proposals by their status and their votes, we can see that proposals which got rejected recorded much less votes than passed proposals although they were more than passed ones.
- YES voting option was the most popular option for voters and they recorded almost 5K YES votes on Community Pool Spend Proposals over time.
Conclusion💡
- Community Pool Spend Proposals mostly got rejected by voters on Terra governance.
- Terra Phoenix Airdrop proposal recorded the highest voting activity among Community Pool Spend Proposals.
- Most of the proposals on Terra Belongs to Text type of proposals.
- Community Pool Spend proposals are the most popular proposals on Terra and the highest fund attributed to them.
- Terra Grants Funding did pretty well in past few months after Terra 2.0 launch and they received many valuable grants over time.
- YES Voting Option was the most popular option among voters on Community Pool Spend Proposals.
- Hermes Protocol Grant received the highest number of NO votes.
Findings👀
> Text Proposals: Text Proposals are used to create general-purpose petitions, such as asking core developers or community members to implement a specific feature. The community can reference a passed Text Proposal to the core developers or community members to indicate that a feature that potentially requires a soft or hard fork is in significant demand. > > Parameter Change Proposals: Parameter Change Proposals are a special type of proposal which, once passed, will automatically go into effect by directly altering the network's specified parameter. > > Software Upgrade Proposals: This type of proposal requires validators to update their node software to a new version at a specified block height. > > Community Pool Spend Proposals: This proposals are usually used for Grants and Fundings.
Source
- In above chart, we are seeing total grants activity on Terra divided by Proposal Type. Currently Terra has 4 types of proposals. In this dashboard im gonna deep dive into CommunityPoolSpend Proposals because these type of proposals are using for grants .
- We can see the highest $LUNA fund attributed to CommunityPoolSpend type of proposals. It is interesting that although this type had only 32 proposals over time and Text Type has over 500 props, CPS had more fund than Text. Nearly about 1M more than Text Type of proposals.
- In overall, it looks like CPS proposals are more popular than others .
