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Overview
In this dashboard, I will answer this question from Flipside Crypto:
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Building off previous recent bounties on Realms and Snapshot, create a dashboard that shows how Realms and Snapshot are growing and used in comparison to one another. Feel free to build off previous bounty work on these platforms.
What trends do you see between governance behavior between the two chains?
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Does a platform seem to capture more market share of its users on their respective chain than the other?
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What seems to influence voting behavior on each platform?
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Does one platform have more proposals and voting opportunities than the other?
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Are whales more powerful on Realms or on Snapshot?
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How can each platform become more decentralized?
Introduction
Realms provides a platform for builders on Solana to create a DAO, manage their members, vote on proposals, and allocate their treasury. Whether you are running a multisig, NFT community DAO, or community token DAO, Realms has the tools and integrations to help your community flourish.
Realms serves as the frontend for SPL Governance, a DAO-type and asset-type agnostic standard for building and maintaining DAOs on Solana.
What is a DAO?
At its simplest, a decentralized autonomous organization (DAO) is a community with a shared bank account. Members of the DAO make decisions in a transparent and decentralized fashion, with smart contracts executing these decisions.
For instance, a member can create a proposal suggesting an investment of the treasury or a program upgrade. The DAO members then come together to vote on the proposal. If a predefined quorum votes for the proposal to pass, the proposal is accepted and and executed by a smart contract.
As a result, the DAO structure provides a “flat” organizational structure. Each DAO member has a voice in the community and the opportunity to drive the direction of the organization.
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Source : Here
What is Snapshot?
Snapshot is a place where projects can create proposals for people to vote on using cryptocurrency. In the industry, this process is called ‘vote signaling’. Traditionally, to vote using cryptocurrency would normally incur fees to process the movement of currency from one wallet to another.
But on Snapshot, that doesn’t happen, thanks to the clever use of the decentralized storage network called IPFS. Because Snapshot doesn’t use ‘on-chain’ verification, any votes are essentially fee-less.
What makes Snapshot so special?
Cryptocurrency projects traditionally have to create the infrastructure themselves to conduct this sort of polling or use other methods that aren’t decentralized. These methods are both time-consuming and can be taken over by parties who may not have the project’s best interests at heart to skew the votes.
Where Snapshot differs is that it allows projects to seek out their most committed members who hold their chosen cryptocurrency and ask them to make decisions. It does this by not sending the transactions to a blockchain.
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Source : Here
Method
To solve this question, the first part: I added up the total number of users who were registered in the fact_transactions tables of each schema and divided it by the total number of users who voted in each chain. In some chains, the transactions were not fully registered, that's why I considered the condition of the date 2022-06-15 onwards for a fair comparison. For the second part of the question: I considered the Snapshot data and separated the words that came to my mind that may have a large number of related proposals from the topic of each proposal and categorized them into different topics. I showed this work in each chain separately
But for Realms, I didn't know how to go about it, the only way I could think of was to manually import them all, which would take months... For the third part of the question: I calculated the number of votes and proposals and the number of voters in each chain For the fourth part of the question: I obtained all those who have transacted on each platform and then in the solana tables from the row PRE_BALANCES[0] and the command max(block_timestamp::date) I counted the last balance of each address in the last 30 days that voted in realms I did and categorized the number of each address in specific categories. For Snapshot, I calculated this only by calculating the users who have voted in the Ethereum chain and their Ethereum balance
- The Snapshot platform initially worked only on the Ethereum chain (July 18, 2020), and over time, on September 17, 2020, transactions on the polygon chain also started on this platform.
- In the Solana chain where voting is done on the Realms platform, voting has started on December 1, 2021
- Observations show that the Realms platform in terms of the number of votes in the first days was almost equal to the number of votes made in the polygon (Snapshot) chain, even though polygon (Snapshot) is much older than Realms. In the next few days, it can be seen that the number of registered votes has become close to the votes of the Ethereum chain (Snapshot) and even more in some days! This topic shows that Realms had a much better start than Snapshot
- From the point of view of the percentage of users of each chain who vote on each platform: it can be said that Ethereum layer 2 users (Optimism and Arbitrum) give more importance to voting than other chains.
But the users who vote are most interested in what topic? I checked a few threads here:
- Observations show that among the selected topics, there are more topics related to DAO and reward.
- Interestingly, there are also a few threads on ethereum and BSC that are related to the Ukraine war
- In terms of the number of voters, it seems that the DAO, nft and airdrop topics have more voters than the rest of the topics.
In terms of the number of votes, it seems that the DAO, nft and airdrop topics have more voters than the rest of the topics.
So far, it can be concluded that the most favorite topics of the voters are the topics related to DAO
- Observations show that the Solana (Realms) chain has gained more unique users than the rest of the chains except Ethereum.
- I think this platform can compete closely with the Ethereum chain for some time.
Observations
show that comparing both platforms, users who have assets between $1 and 1,000 are more than 50% active on these two platforms, and the activity of whales who have more than $100,000 in their wallets. In Snapshot, they make up 14.5% of users, and in Realms, this number is nearly a quarter of all users (25.4%).
In other words, it can be said that whales in Realms have more power than Snapshot
Conclusion
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The daily number of votes in solana (Realms) is close to the daily number of votes in ethereum (Snapshot).
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In a similar period of time (June 15, 2022 to today), Solana users give little importance to voting.
- it can be said that Ethereum layer 2 users (Optimism and Arbitrum) give more importance to voting than other chains.
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it can be concluded that the most favorite topics of the voters are the topics related to DAO
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Proposals and voting opportunities in solana (Realms) are only more than gnosis (snapshot) and less than other snapshot platform chains.
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In Snapshot, whales make up 14.5% of all users, but in Realms, whales make up 25.4% of all users, and it can be said that whales are more powerful in Realms.
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Snapshot uses smart contracts. There is always a risk that something goes wrong with processing within these smart contracts, which can result in irreversible problems.
That's the only problem
Appendix
The solution of this question and the queries are completely used from the filipside database The construction of the dashboard was also used from the site app.flipsidecrypto.com/velocity, which belongs to flipside