Sbapshot VS. Osmosis & Solana Voting System: Snapshot (August 25)

    Introduction

    Governance Tokens

    > Among the rights represented by governance tokens are the following. Income security: protocols have the right to charge users for access. A portion of these fees may be distributed to token holders by a governance vote, analogous to dividends for stockholders.

    Snapshot

    > An example of a decentralized voting system is Snapshot. It allows you some leeway in deciding how to allocate votes. Snapshot offers flexible voting options to meet the demands of different businesses. Snapshot's proposal creation and voting processes are easy to use and do not consume gas because they occur off-chain.

    Solana Voting

    > A decentralized autonomous organization (DAO) is, at its core, just a group of people who pool their resources and make decisions collectively. By using smart contracts, the DAO's members can make decisions in a transparent and decentralized manner. > > A member can make a recommendation for anything from a change in how money is spent to a complete overhaul of the system and its software. Members of the DAO then convene to vote on the proposal. If a certain percentage of voters approve the measure, the smart contract will carry it out.

    > That's why the DAO model can facilitate a "flat" hierarchy. Every participant in the DAO can influence policy decisions and shape the group's future. Link

    Osmosis Voting

    > Staked OSMO holders are eligible to vote on governance proposals. Browse the available proposals, and use one's staked tokens to cast a vote.

    Method

    In this dashboard I tried to compare the voting systems on three blockchains such as Ethereum, Osmosis & Solana by use of following tables on Flipsidecrypto database:

    • ethereum.core.ez_snapshot
    • osmosis.core.fact_governance_votes
    • solana.core.fact_proposal_votes

    and evaluate formerly mentioned metrics over time and in total.

    The goal of this simple dashboard is compare of voting metrics on three mentioned blockchain to achieve an overview of voting parameters on Ethereum mainnet as Snapshot and Osmosis and Solana.

    Analysis

    Voting metrics over time

    Conclusion

    In this dashboard I tried to offer a view of comparison on three network voting systems, but to be fair, this comparison doesn’t make sense because Snapshot is more extensive than the other two, so I chose Ethereum mainnet as a case of Snapshot against Osmosis and Solana.

    The voting on Solana is so new and the data on that is less than two others, and the types of votes aren’t clear like two others. because statistical data is much scarcer than the other two

    • Osmosis has a higher average vote count, maximum vote count, and median vote count than the other two.
    • On April 23rd, 2022, the highest cast votes were registered for Osmosis, with more than 620, against 140 for Ethereum and 40 for Solana. I think this sharp growth was because of incentivized orders on Osmosis and the cosmos ecosystem, such as airdrops for stakers and those who participate in voting proposals that are effective on airdrop sharing.
    • The Ethereum mainnet and Solana have the ==same== average and median count of votes.
    • As of the cumulative count of votes over time, Solana has been incompatible with Osmosis and Ethereum. In particular, in contracts, Osmosis has had a sharp spike in late January. So that from below of 0.5 votes goes up to 4.4m votes to date. That seems nearly 10 times the growth from Jan to July.
    • This shows that voters on Osmosis are more loyalty then two others(more than 92% of voters have had more than 100 time votes), that I think its because of incentivized politics on Osmosis ecosystem like airdrop for Stakers and voters,

    About:

    Sbapshot VS. Osmosis & Solana Voting System

    The aims of dashboard:

    • Evaluate the count of voters
    • Count of voting cast over time
    • Count of proposals over time
    • Average, Maximum & Median casted votes on following blockchains

    > Ethereum > > Osmosis > > Solana

    and compare these metrics on all of three blockchains.

    Hey there 👋!

    Firstly, I appreciate you sticking with it until the conclusion.

    I’m Hamed, Ph.D. In Civil Engineering and interested in data science.

    I've made many similar dashboards and visualizations since I started at Flipside in January.

    Please have a look at my various contact information and let me know what you think.

    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    :book: Findings:

    The voting types based on the count of voters, count of cast votes, proposals, and share of those for each blockchain are depicted on the above charts. Most of the voters on all three chains voted to say they agreed with the proposals, and some of them registered their votes as against.

    • Total count of Casted votes:

    > Ethereum: 2.2m > > Osmosis: 4.4m > > Solana: 10k

    • Total count of voters:

    > Ethereum: 1.5m > > Osmosis: 2.5m > > Solana: 7.2k

    • Total count of Proposals:

    > Ethereum: 2.2m > > Osmosis: 4.4m > > Solana: 10k

    • 84% of Snapshot voters on Ethereum have voted less than 5 times on Snashot, 15% for Osmosis and 0.4% for solana.
    • less than 10% of snapshot users have voted over 100 times, 0.07% for Solana and 92 For Osmosis.

    This shows that voters on Osmosis are more loyalty then two others, that I think its because of incentivized politics on Osmosis ecosystem like airdrop for Stakers and voters,

    Voting metrics in total

    Loading...
    Loading...
    Loading...

    :book: Findings:

    The voting start dates for these three blockchains are so different that Ethereum voting on Snapshot began in July 2020, Osmosis voting one year later in July 2021, and Solana voting began in December 2021.However, user participation on Osmosis has increased significantly since early 2022.

    On April 23rd, 2022, the highest cast votes were registered for Osmosis, with more than 620, against 140 for Ethereum and 40 for Solana.

    In Osmosis, both the number of voters and the number of votes cast went up a lot over time.

    The count of published proposals on Ethereum is significantly more than two others.

    As of the cumulative count of votes over time, Solana has been incompatible with Osmosis and Ethereum. In particular, in contracts, Osmosis has had a sharp spike in late January. So that from below, 0.5 votes goes up to 4.4 million votes to date. That seems like nearly 10 times the growth from Jan to July.

     

    db_img
    Loading...
    Loading...
    Loading...