Try Quests to earn cryptoNouns Governance Participation
Outline
In this report, we take a look at the Nouns DAO governance proposals participations. Nouns a a collection of NFT that are generated once every day and are offered in an auction. The highest bidder wins the NFT at the end of the day.
Nouns DAO lets users who own Nouns NFTs to vote on the proposals. We are interested in knowing for each of the proposals, what was the participation/engagement percentage.
Lets dive in!
Engagement per Proposal
Before analyzing the engagements, we shall talk about how we calculated the percentage of engagements. We have the the number of votes per proposal. But in order to calculate the number of possible votes (for our denominator), we picked the day of the final vote and calculated max number of mints until that day, hence the number of possible votes on each proposal.
Now, lets get into the engagements!
The figure on the right shows the percentage of engagements per proposal.
Our observations:
- The most popular proposal was #2, with 46% engagements.
- Proposals #18, #82 and #81 was the next most popular proposals, respectively.
- The least popular proposal was #50, with about 4.5% engagement.
Total Nouns Minted
For the first step, lets find out how many Nouns are minted so far.
We have found that up until now (July 5, 2022), there are 366 Nouns minted.
Though the Nouns DAO is not a year old, it looks like that there has been a mint once per day for that past year. But, it is worth mentioning that every 10 Noun goes to the creators of Nouns DAO.
Total Votes vs. Engagements
For the final section, lets take a look at the total votes casted vs. the engagement percentage. The following figure shows these relation.
Our observations:
- In the beginning, the percentage of engagement was high relative to the number of votes casted.
- From proposal 40 to 70, the percentage of engagement stayed the same relative to the total votes casted.
- From proposal 80 to 95, we have seen an increase in the engagement.
- Through the final proposals, proposal 96 to 104 the engagement dropped.
