Introduction

As previously stated in other works, whales are wallets that hold significant amounts of tokens of an specific cryptocurrency. While there is no specific number of cryptocurrencies that someone must own to be considered a whale, simply by being a high value, they are already considered players to be reckoned with in the market because they have far greater power than a traditional individual investor. Then, they are an important factor for the economy because of in major of the cases, it depends on them.

Because of these wallets hold a huge quantity of tokens, automatically have a big power in governance voting.

Today, we are gonna analyze how many whales have voted in any of the Terra, Anchor and/or MIR proposals, and also, we will represent it in percentages.

Note: In this study, we will consider "whales" as the top 1000 Terra wallets in terms of balance.

Methodology

To do so, we will take advantage of Flipside Crypto table databases.

• Step 1: Get the top 1000 wallets in Terra in terms of current balances.
• Setp 2: Count the total wallets that have voted for the last 90 days on the one of these platforms, filtering by the wallets found in step 1. For Terra and Anchor, I have used the corresponding gov_votes tables to extract the wallets who have voted, and for MIR, I have selected those wallets who have voted on Pylon Governance through msg_events tables on Terra

Results

As a results, it have found that only 183 from the top 1000 wallets have voted in at least one Terra/Anchor/Mirror governance vote in the past 90 days, which is equivalent to 18.3% of the whales.

To go deeper with this analysis, I have computed as well which of these whales have voted for each of the platforms: Terra, Anchor and Mirror.

As a result, we can see how the platform with more voters is Terra with 12.2.% of the whales, closelt followed by Anchor voters, which were 10.9% of the whales. Finally, 6.3% of the whales voted in MIR proposals.

Finally, how many whales have voted in all platforms? Let's take a look at which of the whales have voted at least one time in Terra, Anchor and Mirror during last 90 days.

Conclusion

To conclude, we have seen how many whales are using their hodl power to vote for governance proposals. We have seen that less than 20% have voted at least in one of the top Terra ecosystem platforms: Terra, ANC and MIR. Among these wallets, only 3.2% have voted in proposals of these three platforms.

A total of 32 whales have voted in Terra, Anchor and Mirror during the last 90 days, representing 3.2% of the total whales taken into account in the study.