Voting Power

In the Arbitrum blockchain, the voting power of delegates is determined by the amount of stake they hold in the network. The formula for calculating the voting power of a delegate in Arbitrum is:

Voting power = (Delegate's stake / Total stake in the network) * Total number of voting power in the network

Here's a breakdown of the formula:

Delegate's stake: This is the amount of stake that a delegate holds in the network. This can be calculated by adding up the amount of tokens that the delegate has staked in the network.

Total stake in the network: This is the total amount of tokens that have been staked in the network by all delegates.

Total number of voting power in the network: This is the total number of voting power units that have been allocated to the network. This number is fixed and determined by the protocol.

Once you have these three values, you can plug them into the formula above to calculate the delegate's voting power. Note that the voting power of a delegate can change over time as the amount of stake they hold in the network changes.

The total number of voting power in the Arbitrum network is determined by the protocol and is fixed at 10 million voting power units. This means that the maximum amount of voting power that can be distributed among all the delegates in the network is 10 million units.

It's important to note that the total number of voting power units does not change, even as more delegates join the network or as the amount of stake in the network increases or decreases. Instead, the distribution of voting power among the delegates will change as the amount of stake held by each delegate changes.

Arbitrum

Arbitrum is a layer-2 scaling solution for the Ethereum network, developed by Offchain Labs. It aims to solve the congestion on the Ethereum network by improving how smart contracts are validated 1. It is an optimistic rollup solution that allows Ethereum smart contracts to scale by passing messages between smart contracts on the Ethereum main chain and those on the Arbitrum second layer chain 2. This makes transactions on Ethereum cheaper by performing operations off-chain and posting the results to the mainnet to secure proof 3.

Delegate Activity

Delegating your voting power is an essential part of participating in the Arbitrum DAO. As an ARB token holder, you have the ability to vote on governance proposals and to elect members of the Security Council. However, if you don’t have the time or resources to actively participate in the DAO’s governance, you can still make your voice heard by delegating your voting power to a delegate 4. To delegate your voting power, you’ll need an Ethereum wallet that holds ARB tokens. Once you have your wallet set up, you can go to the Arbitrum DAO page on Tally, connect your wallet and click on the “Delegate” tab on the top menu. From there, you can search for the delegate you want to vote for and confirm the delegation 4.

Delegator

In the context of the Arbitrum DAO, a delegator is an ARB token holder who has chosen to delegate their voting power to a delegate. This means that the delegator entrusts the delegate to vote on their behalf on governance proposals and to elect members of the Security Council. Delegators can still make their voice heard in the DAO’s governance without actively participating by choosing a delegate who aligns with their values and who they trust to make decisions in the best interest of the Arbitrum DAO and its community.

The main query used in this report uses common table expressions (CTEs) to organize the data. The first CTE, arb_price, retrieves the hourly price of the ARB token from the ethereum.core.fact_hourly_token_prices table. The second CTE, delegate_actions, retrieves the transaction hash of transactions sent to the address 0x912ce59144191c1204e64559fe8253a0e49e6548 from the arbitrum.core.fact_transactions table. This is the main address for sending ARB tokens to delegate voting authority.

The third CTE, delegators, retrieves the delegator address and the maximum block timestamp from the arbitrum.core.fact_event_logs table where the transaction hash is in the delegate_actions CTE and the event name is DelegateChanged. The fourth CTE, toDelegates, retrieves the delegator and toDelegate addresses from the arbitrum.core.fact_event_logs table where the transaction hash is in the delegate_actions CTE, the event name is DelegateChanged, and the delegator is not null. This CTE also joins with the delegators CTE on the maximum block timestamp and delegator address.

The fifth and sixth CTEs, transfer_date_arb and transfer_data_usd, retrieve data from the arbitrum.core.fact_token_transfers table for inflows and outflows of the ARB token to and from wallets. The transfer_date_arb CTE calculates the amount in ARB while the transfer_data_usd CTE calculates the amount in USD by joining with the arb_price CTE on the hourly block timestamp.

The seventh and eighth CTEs, arbitrum_balance_arb and arbitrum_balance_usd, calculate the balance of each wallet in ARB and USD currencies by summing up inflows and subtracting outflows from their respective transfer data CTEs.

The ninth CTE, results, calculates various metrics such as sum, max, average delegated amount, number of delegators, and number of transactions for each toDelegate address in both ARB and USD currencies. It does this by joining with either the arbitrum_balance_arb or arbitrum_balance_usd CTE on wallet = delegator where wallet is not null.

The final query calculates various metrics such as sum, max, average volume, number of delegates and delegators, volume per delegate and delegator, number of transactions, and volume per transaction by selecting from the results of the ninth CTE.

The point that should be emphasized in this query is that the number of Delegators is counted only when the balance of their delegated ARB tokens is more than zero and not null. Therefore, the number of delegators may be displayed less than the actual number. In this regard, it is described more in the Delegators Activities tab.

Parameters

Currency: This parameter has two options (ARB and USD). By changing this option, all data will be calculated based on the price of each ARB token in USD. Due to the fact that on some dates the ARB token price is not specified in the ethereum.core.fact_hourly_token_prices table, the results of queries in terms of USD can be very different from the results of queries in terms of ARB. The default is ARB.

Delegate_Address: If you enter the address of a delegate in this parameter, the data of the specified delegate address will be displayed in the some of visual charts of the Top 50 Delegates tab. The default is null. Delegator_Address: If you enter the address of a delegator in this parameter, the data of the specified delegator address will be displayed in the some of visual charts of the Top 10 Delegators Base on Top 50 Delegates tab. The default is null.

Hour_Slice: This parameter is in hours, which is set to 8 hours by default. By changing the time in this time frame parameter, the graphical data displayed in the Over Time section in the Delegate Activities tab will change.

Tabs:

The tabs presented in this report are created based on the topic described in the Description section of this report. Of course, there is a tab called Distribution Based On Volume Categories that has identified and measured different metrics based on different volume categories.