Realms Whale Voting Dominance

This section will study the voting power of whales on Realms. Voting power per voter is calculated by using vote_weight / n_voter.

It is found that most voter has voting power of 100.'

By sampling each proposal, and filtering proposal that has Vote_weight_per_voter >=50 , then whale dominated proposal. vote_weight_per voter less than 50 are considered as proposal that is Fair.

Note that this sampling only considers proposals that has more than 2 voters.

It is found that , all 2,233 proposals on Realms are fair and are not dominated by whales, as each address has equal voting weight/ voting power.

Snapshot Whale Voting Dominance

Now, for measuring whale voting dominance on snapshot, we will utilize relative Voting Power.

This is done by summing all the Voting power as Total Voting Power (TVP).

Then , divide each Voters individual Voting power with TVP, this will give us the relative weightage of voting power against the Total Voting power of all voters.( unit in percent, where 100% is Total Voting Power))

The following Table is the outcome by applying said formulas.

Filtering using max() function for each proposal_id,

we will get the whales`s Voting power for each proposal.

Then , we assign wether a proposal is whale dominated or Fair.

Whale dominated proposal is where the max() RVP>50.

Fair proposal is where max() RVP<50

The pie chart below is the final outcome of Whale dominance on Snapshot

Findings

1 - Snapshot has more governance activity as it is launched much earlier than Realms and has larger user base , thus allowing Snapshot to capture untapped market and demand.

2 - Even though Snapshot has larger user base, the distribution of Voting Frequency for each Voter is about the same, where it is dominated by Voters that only votes once.

3- Snapshot has been more successful in capturing the market in terms of monthly user growth, since inception of both projects.

4- tbc.eth, cake.eth and ens.eth are the Top projects that’s bringing Voters onto Snapshot

5- Orca dao , Solend Dao and jet dao are the top Projects that has been bringing new Voters onto Realms

6- Proposal with Keywords related to “Layer 2s” and “DAOs” , yields the most unique Voter.

7- Realms has no whale dominated proposal since each voters bears the same voting power

8- Snapshot reports 38.3% proposals that are dominated by whales ( users with RVP>50)

9- In order to facilitate decentralization, Snapshot should consider Realms Voting Model