Terra Governance → Source

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.

Drafting and submission​

Proposals start as ideas within the community on Terra's Agora forum. After gaining support and feedback from the community, a proposer drafts and submits a proposal alongside an initial deposit.

Deposit period​

After a proposal is submitted, it enters the deposit period, where it must reach a total minimum deposit of 512 Luna within 7 days from the time of its submission.

Voting options​

The 4 voting options available are:

• Yes: in favor.
• No: not in favor.
• NoWithVeto:== not in favor, and the creator should lose their deposit.
• Abstain:== neither for or against. An abstain vote counts toward meeting quorum but does not count toward the threshold

🔗 Read More

✍️ Description of Work

As Terra 2.0 has expanded, we’ve seen a number of governance proposals come to light. In this dashboard, we analyze the voting activity of the last 5 proposals. For this, we check the following:

• Total number of vote and voters for last 5 proposals and on all proposals
• Daily number of vote and voters for last 5 proposals and on all proposals
• Average wallet size (In LUNA) of the people voting on last 5 proposals and on all proposals
• Average stake amount (In LUNA) of the people voting on last 5 proposals and on all proposals
• Examining and comparing the text of 2 government proposals

🧠 Methodology

To deal with this bounty, we use the ==terra.core schema and the tables fact_transactions, fact_governance_submit_proposal, fact_governance_votes, ez_staking and ez_transfers.

To find the list of voting transactions for proposals, we use table fact_governance_votes according to the following query:

select tx_id, block_timestamp, voter, proposal_id, vote_option_text from terra.core.fact_governance_votes where tx_succeeded = true 

We obtain 5 of the recent proposals according to the following definition: 5 of the latest proposals (order by proposal_id desc) that have been submitted and voting has been done for them:

with last_5_proposal as (
	select proposal_id from terra.core.fact_governance_vote group by proposal_id order by proposal_id desc  limit 5
),

In this dashboard we have three different sections. The first part includes the review of the voting activity on the last 5 proposals and comparing it with other proposals. The second part includes the review of the voting activity of each of the last 5 proposals separately using the selection of each proposal by the ==proposal parameter==. The third part includes Examining and comparing the text of 2 government proposals

1️⃣ → First Part:

This part consists of 5 steps which are introduced as follows:

First Step: In this section, we show the details of the last 5 proposals and introduce you to the proposals that we want to review.

Second Step:== In this section, we analyze and compare all proposals and the last 5 proposals based on the total number of votes, voters and vote option.

Third Step: In this section, we analyze and compare all proposals and the last 5 proposals based on the number of votes, voters and vote option daily and over time.

Fourth Step: In this section, we compare and analyze the average size of voters' wallets for all proposals and the last 5 proposals.

Fifth Step: In this section, we compare and analyze the average stake amount of voters' wallets for all proposals and the last 5 proposals.

2️⃣ → Second Part:

In this section, you can use the =={{Proposal}}== parameter to examine the voting activity of each of the last 5 proposals, which includes the following steps:

First Step:== In this section, we review and analyze the Selected Proposal based on the total number of votes, voters and vote option.

Second Step: In this section, we review and analyze the Selected Proposal based on the number of votes, voters and vote option daily and over time.

Third Step: In this section, we review and analyze the average size of voters' wallets for Selected Proposal.

Fourth Step: In this section, we review and analyze the average stake amount of voters' wallets for Selected Proposal.

3️⃣ → Third Part:

In this section, we examining and comparing the text of top (In terms of being rejected or passed) government proposals

1.1 →== Details of the last 5 proposals

✅ Observations

In the table above, you can see the details of 5 recent proposals that we want to examine, which include:

• Proposal #3619 which is of type SoftwareUpgrade and its title is Phoenix Software Upgrade 2.2.0.
• Proposal #3665 which is of type CommunityPoolSpend and its title is Control Protocol Grant Proposal.
• Proposal #3794 which is of type Text and its title is Terra Poker | Grant Proposal.
• Proposal #3795 which is of type CommunityPoolSpend and its title is Terra Poker Grant Proposal (Updated).
• Proposal #3796 which is of type CommunityPoolSpend and its title is ERIS Protocol Revised Grant Proposal.

Out of the last 5 proposals, three are CommunityPoolSpend, one is Text and one is SoftwareUpgrade.

Proposal #3794 and Proposal #3795 are related to Terra Poker Grant, Proposal #3794 was rejected, and Proposal #3795 is its update, which was also rejected.

✅ Observations

In the charts above, do not see the results of all proposals in the terra ecosystem, as it is clear:

• The total number of proposals is 48 that have been submitted and entered into voting.
• The total number of voters is 3780 who cast a total of 12.05k votes
• The average number of votes for each proposal is 251 votes
• The average number of voters per proposal is 79
• Out of 48 proposals, 29 were rejected and 19 were passed

1.3 →== Review and analysis of total vote and voters - ==Last 5 proposals

✅ Observations

In the charts above, you can see the voting activity in the last 5 proposals. As is clear:

• The total number of votes for the last 5 proposals is 1048 by 555 voters.
• The average vote for each proposal in the last 5 proposals is 210 votes, which is slightly lower than the overall average.
• The average number of votes for each proposal in the last 5 proposals is 111 voters, which is higher than the overall average.
• Out of the last 5 proposals, 3 of them have been passed and 2 of them have been rejected, both of which are related to Terra Poker Grant Proposal.
• The highest number of votes and voters is related to Proposal #3796 (ERIS Protocol Revised Grant Proposal).
• The lowest number of votes and voters is related to Proposal #3794== and ==#3795 (Terra Poker Grant Proposal).
• The highest number of Yes votes is for Proposal #3619 (ERIS Protocol Revised Grant Proposal) and Proposal #3796 (Phoenix Software Upgrade 2.2.0).

1.4 →== Review and analysis of total vote and voters - ==Last 5 proposals VS. All proposals

✅ Observations

The average number of votes per Proposal in the last 5 Proposals is lower than the overall average

The average number of voters per Proposal in the last 5 Proposals is higher than the overall average

On average, the number of voters have voted more than the total number of proposals in the last 5 proposals, and voter activity has been higher on the last 5 proposals.

1.5 →== Review and analysis of daily vote and voters - ==Last 5 proposals

✅ Observations

In the charts above, you can see the voting activity on the last 5 proposals on a daily basis. As is clear:

• Each proposal is voted on in 8 consecutive days and we see the highest number of votes and voters almost in the first days of voting.
• From December 25, 2022 to January 9, 2023, there were no proposals for voting, and the last proposal of 2022 is related to proposal #3665 (Control Protocol Grant Proposal).
• Since January 10 and with the end of the Christmas holidays, we have seen the highest number of proposals submitted, and the number of proposals has increased since this date.
• The activity of voting growth in Proposal #3619 (ERIS Protocol Revised Grant Proposal) and Proposal #3796 (Phoenix Software Upgrade 2.2.0) shows a significant upward trend and they received the highest number of votes in the voting period.

1.6 →== Review and analysis of average wallet size (In ==LUNA==) of the people voting on last 5 proposals and on all proposals

✅ Observations

The charts above show the average size of voters' wallets for LUNA as you can see:

• The average wallet size of all voters is 4400 LUNA, while the average wallet size of voters for the last 5 proposals is 17K LUNA.
• Voters of the last 5 proposals have more LUNA in their wallets than the overall average

1.7 →== Review and analysis of average stake amount (In ==LUNA==) of the people voting on last 5 proposals and on all proposals

✅ Observations

The charts above show the average stake amount of voters' as you can see:

• The average stake amount of all voters is 1656 LUNA, while the average stake amount of voters for the last 5 proposals is 4400 LUNA.
• The voters of the last 5 proposals stake more than the overall average of LUNA

2.1 →== Review and analysis of total vote and voters - ==Selected Proposal

2.2 →== Review and analysis of daily vote and voters - ==Selected Proposal

2.3 →== Review and analysis of average wallet size (In ==LUNA==) - ==Selected Proposal

2.4 →== Review and analysis of average stake amount (In ==LUNA==) - ==Selected Proposal

3 →== Examining and comparing the text of 2 government proposals

In this section, we select two of the proposals with the highest percentage of Yes votes and two of the proposals with the highest percentage of No votes and compare their text. We also compare the last 5 proposals in terms of text.

✅ Observations

> In the charts above, by selecting the desired proposal using the above dropdown, you can examine the voting activity of each of the last 5 proposals separately.

✅ Observations

In the 2 tables above, you can see 2 of the proposals that have the highest percentage of votes with Yes and the highest percentage of votes with No, along with the details of the proposal, as is clear:

• Proposal #986 and Proposal #3619 have been passed with more than 95% of Yes votes, their descriptions are respectively:

  • Proposal #986: This Community Pool spend proposal seeks to airdrop LUNA to users who did not receive the correct allocation of LUNA at Genesis due to technical constraints or issues associated with indexing. A vote “YES” will signal support for this token allocation from the Community Pool. Agora: https://agora.terra.money/discussion/6647-final-proposal-terra-phoenix-airdrop

  • Proposal #3619: This proposal upgrades the Phoenix chain to v2.2.0 this enables vesting accounts which have incurred slashing to still send their remaining vesting tokens to the community pool. Full release notes can be found here: https://github.com/terra-money/core/releases/tag/v2.2.0

Proposal #3794 and Proposal #3795 have been failed with more than 55% of No votes, their descriptions are respectively:

• Proposal #3794: Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to Terra Ecosystem. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and making progress to the next big milestone, Tournaments. The request is for 300,000 LUNA over three equal monthly installments. The purpose of the fund is to help over the unexpected prolonged bear market. TP has already shipped one of the most used products in the Terra Ecosystem. The full proposal can be read here: https://agora.terra.money/discussion/8783-terra-poker-community-grant-proposal On Jan 10, the TP team held an AMA with regards to the Proposal that will be made available shortly. A "Yes" vote on this proposal indicates a "Yes" to funding Terra Poker at the request above.
• Proposal #3795: (Updated : This is the correct proposal live for voting) Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to the Terra Ecosystem for its revival. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and continuously making progress to the next big milestones. The purpose of the fund is to help cover costs in the unexpected prolonged bear market. As one of the most significant contributors to the Ecosystem by all metrics, we are requesting a grant of 300,000 LUNA, vested over 3 months of 100K. The allocation of fund is 40% in Operational and Infrastructure, 60% in Wages. The full details of the proposal can be read here: https://agora.terra.money/discussion/8783-terra-poker-community-grant-proposal A “Yes” vote on this proposal indicates a “Yes” to funding Terra Poker at the request above.

As you can see, two Proposal #986 and Proposal #3619 have brief, short and clear descriptions that explain the Proposal in a concise and clear way, but Proposal #3794 and Proposal #3795 have long descriptions in which 300,000 LUNA are requested, both related to the Terra Poker Grant, and the proposal was rejected with the highest percentage of No votes due to the lack of clarity. For a proposal, clear and concise descriptions and shortness are effective in passing it.

3.1 →== Examining and comparing the text of 2 government proposals - ==All Proposals

3.2 →== Examining and comparing the text of government proposals - ==Last 5 Proposals

✅ Observations

In the above tables, you can see the last 5 proposals in terms of percentage of passing or rejection along with descriptions, as is clear:

• Proposal #3796, Proposal #3665 and Proposal #3619 have been passed with more than 65% of Yes votes, their descriptions are respectively:
  • Proposal #3796: ERIS is a liquid staking and slow burn arbitrage protocol. We will provide the Terra community with a product suite for a stable LSD economy, a fair delegation and governance framework and a Liquid Staking Derivative Liquidity Hub on Terra. Over the last six months we have built: Amplifier, Amp Extractor, Amp Compounder, Manual Arb We would like to continue building and shipping with our focus on Terra and are requesting 312,500 LUNA (@ $1.60 = $500,000) for finishing the product portfolio around our LSD. The $500,000 will be used as follows: $100,000 for audits $35,000 for marketing $15,000 for infrastructure $350,000 for salaries The funds will be payed out to a 4-out-of-5 community multi-signature wallet and be distributed milestone based. Milestone 0: With passing of the proposal Milestone 1: Launch of Amp Governance Milestone 2: Launch of Arb Repeater Milestone 3: Integration of Warp Protocol With passing of the proposal 50% of the funding will be paid out to cover audits, marketing, infrastructure and a small part of salaries. The remaining 50% will start vesting when all milestones are reached. The vesting will span over 10 months. More information can be found in the agora discussion: https://agora.terra.money/discussion/8789-revised-eris-grant-proposal.
  • Proposal #3665: Contro is a highly innovative DEX protocol that enables scalable prediction and futures markets for the first time in the history of blockchains. Responding to increasing demand for safe, fair and accessible betting markets, it has the capacity to generate large amount of fee income, 10% of which will be used to buy LUNA to give back to the community pool in perpetuity. Contro is going to create new opportunities for a large number of inflowing users and visibility beyond the crypto world by providing the most trustworthy source of aggregated collective knowledge on a variety of topics. Only half of the grant (280,000 LUNA) will be given to the team upfront. The vesting of the second half is conditioned on the release of the MVP and controlled by a 4 of 5 multisig with 4 independent and informed members of the community.   Please visit https://agora.terra.money/discussion/8460-contro-protocol-a-new-paradigm-for-trading-information for details.
  • Proposal #3619: This proposal upgrades the Phoenix chain to v2.2.0 this enables vesting accounts which have incurred slashing to still send their remaining vesting tokens to the community pool. Full release notes can be found here: https://github.com/terra-money/core/releases/tag/v2.2.0

Proposal #3794 and Proposal #3795 have been failed with more than 55% of No votes, their descriptions are respectively:

• Proposal #3794: Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to Terra Ecosystem. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and making progress to the next big milestone, Tournaments. The request is for 300,000 LUNA over three equal monthly installments. The purpose of the fund is to help over the unexpected prolonged bear market. TP has already shipped one of the most used products in the Terra Ecosystem. The full proposal can be read here: https://agora.terra.money/discussion/8783-terra-poker-community-grant-proposal On Jan 10, the TP team held an AMA with regards to the Proposal that will be made available shortly. A "Yes" vote on this proposal indicates a "Yes" to funding Terra Poker at the request above.
• Proposal #3795: (Updated : This is the correct proposal live for voting) Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to the Terra Ecosystem for its revival. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and continuously making progress to the next big milestones. The purpose of the fund is to help cover costs in the unexpected prolonged bear market. As one of the most significant contributors to the Ecosystem by all metrics, we are requesting a grant of 300,000 LUNA, vested over 3 months of 100K. The allocation of fund is 40% in Operational and Infrastructure, 60% in Wages. The full details of the proposal can be read here: https://agora.terra.money/discussion/8783-terra-poker-community-grant-proposal A “Yes” vote on this proposal indicates a “Yes” to funding Terra Poker at the request above.

As you can see, clear and concise descriptions have a positive effect on passing a proposal

✔️ Final Conclusion

In this dashboard, we analyzed the voting activity for 5 of the recent Proposals and also compared the 5 recent Proposals with other Proposals.

• Three of the last 5 proposals have been passed with the highest percentage of Yes votes, and 2 of them have been rejected with the highest percentage of No votes, which were among the top proposals in terms of No votes.
  • Proposal ==#3794== and ==#3795 (Terra Poker Grant Proposal)== → ==Failed ❌
  • Proposal ==#3619 (ERIS Protocol Revised Grant Proposal), #3796 (Phoenix Software Upgrade 2.2.0)== and ==#3665 (Control Protocol Grant Proposal)== → ==Pass ✅
• In the last 5 Proposals, the average number of voters per Proposal was more than the total number of Proposals
• The average number of votes for each proposal in the last 5 proposals was lower than the total number of proposals
• The average wallet size and average LUNA stake for voters in the last 5 Proposals are much higher than voters for other Proposals.
• Proposals whose description is clear and concise are more likely to be passed

1.2 →== Review and analysis of total vote and voters - ==All Proposals

1️⃣ → First Part: Analysis of vote and voters for last 5 proposals and all proposals

2️⃣ → Second Part: Analysis of vote and voters by Apply =={Proposal}== Parameter

3️⃣ → Third Part: examining and comparing the text of top government proposals

🔗 Links

• Tweet link for this dashboard: Terra - Governance Grind
• Discord: Yousefi_1994#7190
• Twitter: Yousefi_1994