What is Osmosis?

Established in 2021, Osmosis is a multi-chain AMM built for the Cosmos ecosystem. The DEX (Decentralized Exchange) offers interoperability between blockchains using Inter-blockchain Communication Protocol (IBC) and Axelar, which facilitate the connection of blockchains within a decentralized infrastructure. AMMs (Automated Market Makers) are typically pools of digital assets managed by a smart contract used to enable decentralized trading. The liquidity pools and smart contracts replace the order book system; liquidity providers lock their assets into the pool and earn fees when people trade in these pools.

Osmosis Governance Voting

Osmosis employs a decentralized governance model, which allows users to participate in the decision-making process of the network through voting on proposals. To participate in governance voting on Osmosis, users must stake their $OSMO tokens and delegate them to a validator who participates in the governance process. Once a proposal is submitted, it must go through a period of discussion and debate before it can be put up for voting. During the voting period, token holders can cast their votes to approve or reject the proposal, and the outcome is determined by a simple majority of votes.

Governance proposals on Osmosis can cover a wide range of topics, such as changes to the network's parameters, funding for development initiatives, or changes to the network's governance process itself. The goal of the governance system is to give token holders a voice in the direction of the network and to ensure that the network remains transparent and decentralized.

Dashboard Introduction

Proposal #466 was the first-ever expedited vote on Osmosis. An expedited governance proposal must exceed 66.6% quorum within the first 24 hours of the voting period in order to succeed.

On the occasion of this wild event, in this dashboard, We are going to analyze the voting activity on Proposal #466 and see how long did it take to reach a 66% quorum. We will mainly use bar charts to reflect voting activity in terms of total votes, voters, and total $OSMO, in hourly timespan, during the initial 24-hour voting period.

Proposal #466

Prop #466 is for enabling the asynq-icq Interchain query messages in the Interchain query host module on the osmosis mainnet. At the time of submission, these messages were not enabled which restricts the ability of other IBC-enabled chains to utilize the ability to do async-icq query. It was part of the Osmosis v15 upgrade, but due to some issues in the upgrade handler, it did not go through.

This proposal is the first-ever expedited vote on the Osmosis platform. Expedited governance proposals are unique in that they require a 66.6% quorum within the first 24 hours of the voting period to be successful.

Dashboard by Ali3N

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