Whale Voters

    In this dashboard, we will take a look at whale voting history by whales. We will define whale as those addresses/wallet that currently holding 10,000 or more liquid or staked $LUNA. Today, there are 1386 addresses that fit the description.

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    Fisrt, we need to understand how proposal are passed on Terra, Mirror and Anchor. From Terra Docs,

    A user submits a proposal and a two-week deposit period begins.

    Users deposit Luna as collateral to back the proposal. This period ends once a minimum threshold of 50 Luna is deposited. Deposits are to protect against spam.

    The one-week vote period begins. The voting options are:

    Yes: In favor.

    No: Not in favor.

    NoWithVeto: Not in favor, the deposit should be burned.

    Abstain: Voter abstains.

    The votes are tallied. Proposals pass if they meet three conditions:

    Quorum is met: at least 40% of all staked Luna must vote.

    The total number of NoWithVeto votes is less than 33.4% of the total vote.

    The number of Yes votes reaches a 50% majority. If the previous conditions are not met, the proposal is rejected.

    Accepted proposals get put into effect.

    Deposits get refunded or burned.

    Graph below shows the number of whales (out of 1386 addresses that have >10,000 $LUNA) who voted on each proposals. The most recent proposal which is for the Terra-Washington Nationals partnership have the most whale voting in a while with 111 whales out of 1386.

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    Graph below shows the whale voting percentage and the total sum of voting power for each proposal that went through. You will noticed that there are skips in proposal ID sequence, this is due to some proposal that did not go through, as in did not get 50 $LUNA in one week before it goes for voting.

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    Two graphs below shows the percentage of whale voting and count of whales (out of 1386 addresses) that voted on Anchor and Mirror protocols. We can see that Anchor has less proposals compared to Mirror. For both Anchor and Mirror, only 1000 of ANC or MIR needed to submit a proposal.

    In conclusion, whale does not vote that often especially on Mirror and Anchor.