Aave - 12. Aave Delegates' Gas Usage

    Question : How much gas was used by delegates voting in Aave in the past 90 days? In the past 180? How much gas on average is spent by voters in a single vote?

    Who is a Delegator

    Delegators are token holders who cannot, or do not want to run a validator node themselves. Instead, they secure the network by delegating their stake to validator nodes and play a critical role in the system, as they are responsible for choosing validators. They run their delegation transaction on the staking contract on the Ethereum mainnet.

    Governance

    Aave Governance V2 is an exciting new evolution of on-chain governance, allowing unique features, rapid protocol upgrades via short time lock executors, and governance upgrades via long time lock executors. This ensures the protocol can rapidly adjust to changing market conditions, as well as upgrade core parts of the protocol as time goes on.

    Governance Power

    AAVE and/or stkAAVE token holders receive governance powers proportionally to the sum of their balance.
    There are initially two powers associated with each governance token:

    1. The proposal power that gives access to creating and sustaining a proposal.
    2. The voting power which is used to vote for or against existing proposals.
      Any user can choose to delegate one or both of the governance powers associated with a token, either through our governance portal or programmatically.

    Context and Methodology

    Hey everybody in this dashboard im going to analyze AAVE Delegate's Gas Usage . What is AAVE Delegate's Gas Usage ? Well , Delegates are AAVE token holders that Delegates their token to Validotor , and they can vote on proposals . We are going to examine gas usage by voters (Delegates) for voting on proposals on AAVE governance platform .
    In this tab im going to show you some overall stats of voting on proposals in AAVE governance and then in other tabs i will show you stats in the past 90 days and in the past 180.

    Key words of this dashboard :

    Raw gas used : Every transaction on Ethereum need some gas to be executed on blockchain , and amount of gas will multiplie by gas price to get fee for that transaction . So Raw gas used means amount of gas needs to perform a transaction on Ethereum blockchan .

    ETH gas used : Means Transaction fee base on ETH token .

    USD gas used : Means Transaction fee base on $USD .

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    For more info about AAVE Delegate and Governance you can follow below links :

    1. Governance
    2. How to Delagate in AAVE

    On the below picture we can see how AAVE governance is working . (Voter means Delegates )

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    Findings:

    • As we can see total 19k votes submitted in AAVE governance by 7.5k delegates (voters) on total 181 proposals .
    • Total 1.85b gas used for voting on proposals by delegates so far .
    • Total amount of 78.44k $USD spent for transaction fees for voting by delegates .
    • Average $USD amount of tx fee paid for voting transaction by delegates is 4.11 $ .
    • Average raw gas used per voting transaction in a single vote is 97.3k
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    Findings:

    According to above charts about weekly votes and gas usage on AAVE governance we can say :

    • Since 28th of November 2022 till 4th of December 2022 Total 2.75k votes submitted by 2.64k unique delegates (voters) and total 263.4M gas used which $USD amount of used gas during this week is 4.07k which is highest weekly used gas so far . This is highest weekly governance activity on AAVE so far .
    • We can see since January 2023 governance activity is higher than May 2022 but transaction fee paid by delegates is lower than before which means user pay less $USD amount for voting on proposals and in the next charts we will clearly see this .
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    Findings:

    According to above charts about Average weekly gas usage and $USD amount of gas used for voting on AAVE governance we can say :

    • Since April 2022 $USD amount of transaction fee (voting fee) dropped significantly which before then there was huge spikes for average $USD amoung of gas used for example at November 2022 and last week of March 2022 we can see there was respectively average $84 and $81 tx fee paid for voting .
    • But since April 2022 average $USD amount of tx fee reduced to less than $2 which is so much lower than past weeks , however these weeks (March 2023) average $USD amount of tx fee increased little bit and reached to $4 which is still so much better than 2022 .