Try Quests to earn cryptoVotes, Votes, Votes
Community members vote with their staked Luna. One staked Luna equals one vote. If a user fails to specify a vote, their vote defaults to the validator they are staked to. Validators vote with their entire stake unless specified by delegators. For this reason, it is very important that each delegator votes according to their preferences.
The votes are tallied. Proposals pass if they meet three conditions:
Quorum is met: at least 40% of all staked Luna must vote.
The total number of NoWithVeto votes is less than 33.4% of the total vote.
The number of Yes votes reaches a 50% majority. If the previous conditions are not met, the proposal is rejected.
In this article, You will get familiar with the Terra network and determine what the vote is and how it works. I will show you how much vote power was used to vote 'YES' for governance proposals. and compare how much luna comes from validators Vs. regular wallets?
To find all voting power (in Luna), I used the Gov_vote table. Then I filtered only those who have the YES vote and vote power (in Luna). As a result, I have provided below Information about Vote in Terra.
Written by hess
where
discord_id: hess#0890
and
twitter_id: @hessaminanloo
The total amount of luna that used to vote 'Yes' in the terra network is about 1B Luna since 2021-10-01.
In the below chart, You can see the total amount of Luna that used to vote 'YES' per Proposal.
With 135M Luna, LM incentive for the seven Solana projects is in the first place.
The second is Increase Liquidity on Ethereum Curve part 2 with 80M Luna, And the third place is Sports partnership & Terra community with 79M luna.
LM incentive for the seven Solana projects with 19% share of total used Luna to vote 'Yes,' is the most SPENDING Terra proposal.
About 71& of the total amount of Luna comes from regular wallets, and about 28% comes from Validators. Because of the number of users in comparing Validators, the total amount of regular luna is more than validators.
The below chart shows the total daily amount of luna that is used to vote 'Yes' per Validators and regular wallets.
Hashed validator used 290M luna to vote 'YES'. In the below chart you can see the top 10 validators based on the total amount of luna that they use to vote yes.