What is Snapshot?

Snapshot is a place where projects can create proposals for people to vote on using cryptocurrency. In the industry, this process is called ‘vote signaling’. Traditionally, to vote using cryptocurrency would normally incur fees to process the movement of currency from one wallet to another. But on Snapshot, that doesn’t happen, thanks to the clever use of the decentralized storage network called IPFS. Because Snapshot doesn’t use ‘on-chain’ verification, any votes are essentially fee-less.

To learn more about this click here.

Metrics:

1. Voter Option by Percent of Total Votes
2. Voter Option by Total Votes
3. Proposal Breakdown
4. Top 100 Proposals by Percentage of Total Votes
5. Top 100 Proposals by Total Votes
6. Top 100 Proposals by Start Time and Number of Votes
7. Top 100 Proposals by Start Time and Number of Votes
8. Average Time For a Proposal in Days
9. Smallest Time for a Proposal In Seconds
10. Largest Time for a Proposal in Days
11. Distribution of Proposal Time
12. Percent Distribution of Proposal Time
13. Top 100 Proposals Total Votes and Total Proposal Time
14. Top 10 Proposal Authors by Total Proposals
15. Daily New Proposals by Top 10 Proposal Authors
16. Distribution of Proposals Created by Proposal Authors
17. Average Proposals Per Proposal Author
18. Top 10 Voters by Total Votes
19. Average Votes Per Voter
20. Median Votes Per Voter
21. Distribution of Votes made by Voters
22. Percent Distribution of Votes made by Voters

Snapshot Analyze

Proposal Tool

At the top of the dashboard is a spot to input proposal Id’s it is currently set on default to the most popular proposal by total votes which is “Ratification of the ENS DAO Constitution”. You can input any proposal Id you would like and it will show you the title of that proposal, what the proposal is about and what is says, as well as a list of the choices to be made for that proposal. Then you will be able to see how users voted on the proposal by looking at which number they voted on, you can see this both as a percentage and as amount of votes per choice. The number corresponds with the choices array, if 4 is the most popular choice then that means that the most votes went to the fourth item in the array of choices. There is also an Abstain category which exists for users who essentially were impartial on there vote.

Top Proposal Analysis

• It appears that after March of 2022 the amount of proposals being submitted really began to ramp up.
• There were several Arbitrum proposals all in the same day that received a significant amount of votes.
• The largest proposal by total votes which leads by over 30k votes is “Ratification of the ENS DAO Constitution, which from using the tool above we know that the most voted on choice was to “Ratify Article I”.
• Out of the top 10 Proposals by total votes Arbitrum Odyssey Poll’s make up 9/10 of them all receiving anywhere from 40k-50k votes each.
• It doesn’t appear that start time has any correlation to total votes, as the votes received on the top 100 proposals are all over the place regardless of start time.

Proposal Time Analysis

• The average time for a proposal to last is about 16 days although they have been seen to be as large as 3820 days and counting and as small as 30 seconds.
• The wide majority nearly 70% of all proposals are between 0 and 5 days in length.
• For the most part the larger the proposal time gets the less proposals there are of that length.
• There doesn’t appear to be any massive correlation between proposal time and total votes as many short proposals have a ton of votes and many long ones have little votes, it is all over the place.
• It is likely that the majority of users vote within the beggining of the proposal time period as time doens’t have a larger effect on proposal’s total votes.

Proposal Author Analysis

• the majority of the top 10 proposal authors have made anywhere from 100-250 proposals although the largest proposal author has made much more at 1294 total proposals currently.
• Over the last several months the top 10 proposal authors have been making a solid amount of proposals each and everyday.
• The average proposals made by proposal authors is 2.69 although the majority of authors have only made 1 proposal.
• As you increase the amount of proposals made the amount of proposal authors who have made that many decreases massively.

Voter Analysis

• 9/10 of the top 10 voters by total votes have made around 1000 votes although the number 1 voter has made 2812 votes.
• The average votes per voter is 5.9 although the median votes per voter is 2 meaning the distribution is right skewed.
• The nearly half of all voters have only made 1 vote
• As you increase the number of votes that number of voters who have made that many decrease.
• Over 80% of voters have made between 1 and 5 votes.

Conclusion

1. The start time doesn’t appear to correlate to total votes as proposals have stayed around the same total votes over time, it seems that the type of proposal and what it’s for is much more important.
2. The majority of proposal’s are relatively short between 0 and 5 days, this is likely because most voters vote at the beggining of the voting period this is reflected by the fact that increasing proposal time is not directly correlated to increasing total votes.
3. Although many proposal authors have only made one vote it appear to be pretty common that the same proposal author has made a handful of proposals.
4. The median is likely a better metric to look at for votes per voter as the distribution is right skewed meaning a few voters who have made a lot of votes are bringing up the average, this does not effect the median though as it is more resistant to outliers.
5. Although nearly half of all voters have only made a single vote it does not appear uncommon for users to have made multiple votes.