We are excited to publish the first release of the SafeDAO Governance Analytics Report, covering key governance metrics and insights for April 2024. This report marks a significant milestone in our efforts to enhance transparency and foster informed decision-making within the SafeDAO community.
Special thanks to @Andre on his help in reviewing the initial version of the report.
Key Findings:
Token Transferability Impact:
Votable Supply Increase: Post-transferability, votable supply rose from 231.8M to 331.89M SAFE Tokens (+43.18%).
Disclaimer: The reported increase in votable supply may not fully capture the subtleties of actual token votable supply. Our data model accounts for vesting tokens linked by delegation or signature. Tokens available for voting but not actively linked are not included. While the primary rise is due to Gnosis treasury and SafeDAO <> Gnosis Joint Treasury tokens, the actual increase from other sources is slightly less than reported.
Voting Power Distribution: Significant reshaping with broader base inclusion but notable concentration at the top (e.g., GnosisDAO Treasury with 68.4M SAFE).
New Delegates: Over 132 new delegates, enhancing diversity but yet to see how active these new delegates will be in participating in SafeDAO governance.
Sell-off Among Delegators: Post-transferability, 104 existing delegates experienced an average voting power reduction of 30.2%, indicating a significant sell-off by their delegators.
Governance Metric Monitoring:
Participation Rate: Increased to 20.41% in April from 19.32% in March.
Unique Voters: Decreased to 1,057 in April from 1,322 in March (-20.05%).
Voting Power: Average participation voting power increased to 47.3M SAFE Tokens.
Delegate Engagement: Slight increase in active delegates and decrease in inactive ones, reflecting improved engagement.
Proposal Outcomes:
Unpause SAFE Token Contract: Near-unanimous support with high participation, marking a crucial milestone.
OBRA Safe Token Utility Sprint 1: Strong consensus and high engagement, highlighting strategic alignment.
Treasury Management Proposal: Significant support but notable opposition, indicating areas needing further discussion.
Shifts in Voting Power Dynamics:
Power consolidation among top 10 voters, with growing influence in the broader community, especially within the Top 201-500 voters.
Governance Impact and Strategic Implications:
The enablement of token transferability marks a pivotal development in SafeDAO’s governance, promising greater inclusivity and democratic potential. However, it necessitates enhanced mechanisms to manage new participants and ensure robust governance.
We’re excited to share with you the SafeDAO Governance Analytics Report for May 2024. This edition continues our commitment to enhancing transparency and informed decision-making within the SafeDAO community.
Key Findings:
Votable Supply and Voting Power Distribution:
Votable Supply Changes: The votable supply slightly increased to approximately 334.4 million SAFE tokens from 331.9 million in April. This modest growth reflects ongoing adjustments in token distribution among stakeholders, highlighting the dynamic nature of the votable supply.
Voting Power Distribution: While the top 10 voters still control a significant portion of the total voting power at 51.37%, their share has slightly decreased, marking a positive step towards reducing power consolidation. Additionally, there’s an observable shift in voting power towards lower-tier voters, particularly in the 201-500 bracket, which saw the largest percentage growth in voting power. This adjustment indicates a more balanced distribution of voting power.
Governance Metric Monitoring:
Participation Rate: Dramatically decreased to 4.64% from April’s 20.41%. This significant drop highlights the need for strategies to re-engage the community and boost participation.
Unique Voters: Dropped sharply to 269 from 1,057 in April, emphasizing the reduced engagement in this month’s governance activities.
Delegate Engagement: May saw a decrease in active delegates alongside a small increase in inactive ones, indicating a shift towards reduced engagement within SafeDAO.
Voter Dynamics:
Existing Voters: Significant shifts observed; 24 voters increased their stake, while 76 decreased, including 30 dropping to zero, indicating a significant disengagement.
New Voters: 57 newcomers brought potential voting power of 20.9M SAFE tokens, possibly altering governance dynamics depending on their participation levels.
Proposal Outcomes:
[SEP #25] Palmera Module: Saw nearly unanimous support with minimal opposition, despite 21.31% abstaining over concerns about the audits funding request process.
[SEP #26] Three-Part Research Series: Also strongly supported, but highlighted the need for alternative funding strategies, as suggested by the 20.47% abstention rate.
Governance Impact and Strategic Implications:
This month’s report highlights the challenges of maintaining high participation and the importance of adapting strategies to improve community engagement more effectively. Enhancing mechanisms to onboard new participants and ensure robust governance remains a priority.
We’re excited to share the SafeDAO Governance Analytics Report for June 2024, continuing our commitment to transparency and informed decision-making within the SafeDAO community.
Key Findings:
Votable Supply and Voting Power Distribution:
Votable Supply Changes: The votable supply remained stable at approximately 334.4 million SAFE tokens, unchanged from May 2024.
Voting Power Distribution: The top 10 voters controlled 51.4% of the total voting power, almost unchanged from May. There were slight decreases and increases among other voter brackets, reflecting stable power distribution with minor fluctuations.
Governance Metric Monitoring:
Participation Rate: Decreased to 3.65% from 4.64% in May, highlighting a continued decline in engagement.
Unique Voters: Increased to 266 from 229 in May, indicating broader community participation.
Voting Power (Average voting power on proposal): Dropped to 12.2M SAFE from 15.5M SAFE in May, showing decreased engagement.
Delegates Voting: 29 delegates voted at least once, down from 32 in May, continuing the challenge of maintaining engagement.
New Voters: 16 new voters, down from 31 in May, aligning with lower overall engagement.
Voter Dynamics:
Existing Voters: 29 increased their voting power by 2.89M SAFE, while 38 decreased by 4.88M SAFE. 19 voters’ voting power dropped to zero.
New Potential Voters: 19 new potential voters holding 2.72M SAFE voting power.
Delegate Status Shifts:
Active Delegates: Decreased to 66 from 70 in May.
Inactive Delegates: Increased to 37 from 30 in May.
Ghost Delegates: Decreased to 131 from 133 in May.
Proposal Outcomes:
[SEP 27] Governance Amendments Season 2, Sprint 4
Category: Governance
Overview: Allows flexible voting on governance amendments throughout the season.
Contentiousness: Highly contentious, with a nearly equal split between two main options.
Top 20 Voters: Divided, with a slight majority favoring even distribution (Option 2).
Governance Impact and Strategic Implications:
This month’s report still highlights the challenges of maintaining high participation and the importance of adapting strategies to improve community engagement more effectively. Enhancing mechanisms to onboard new participants and ensure robust governance remains a priority.
We’re pleased to share the SafeDAO Governance Analytics Report for July 2024, continuing our commitment to transparency and informed decision-making within the SafeDAO community.
Key Findings:
Votable Supply and Voting Power Distribution:
Votable Supply Changes: The votable supply slightly increased to approximately 336.8 million SAFE tokens from 334.4 million in June, reflecting a modest growth of 0.71%.
Voting Power Distribution: The top 10 voters controlled 51.03% of the total voting power, a slight decrease from 51.4% in June. There was notable growth in the middle and lower tiers, with the top 51-200 voters increasing by 7.53% and the top 201-500 voters by 9.40%.
Governance Metric Monitoring:
Participation Rate: Increased slightly to 3.89% from June’s 3.65%, reflecting a modest rise of 0.24%. Despite this uptick, the participation rate remains relatively low, highlighting the need for enhanced community engagement.
Unique Voters: Decreased to 209 from 266 in June, indicating a reduction in the breadth of participation within the SafeDAO community.
Voting Power (Average voting power on proposal): Increased to 13.01M SAFE from 12.21M SAFE in June, suggesting a consolidation of influence among fewer voters.
Delegates Voting: 32 delegates voted at least once, up from 29 in June, indicating a slight improvement in delegate engagement.
Voter Dynamics:
Existing Voters: 24 voters increased their voting power by 5.17M SAFE, while 35 decreased by 8.65M SAFE. 12 voters’ voting power dropped to zero.
New Potential Voters: 20 new potential voters holding 6.46M SAFE voting power.
Delegate Status Shifts:
Active Delegates: Decreased to 45 from 66 in June.
Inactive Delegates: Increased to 57 from 37 in June.
Ghost Delegates: Remained unchanged at 131 from June to July.
Proposal Outcomes:
[SEP 29] Nounish Safes - Rocketman
Category: OBRA Initiatives
Overview: Requests $30,000 in USDC to develop a Revolution Protocol extension.
Governance Impact and Strategic Implications:
In July, SafeDAO faced engagement challenges with voter participation consistently below average. SEP #29 and SEP #31 were highly contentious, revealing divided community opinions. SEP #30, SEP #32, and SEP #33 saw strong support, but SEP #32 failed to reach quorum despite broad backing, underscoring the need for increased participation. High voting power significantly influenced outcomes, highlighting the importance of strategies to balance participation and enhance community engagement. Ensuring robust governance and onboarding new participants remain priorities to address these issues.
We are pleased to share the SafeDAO Governance Analytics Report for August 2024, continuing our efforts to provide transparency and foster informed decision-making within the SafeDAO community.
Key Findings:
Votable Supply and Voting Power Distribution:
Votable Supply Changes: The votable supply remained relatively stable at approximately 336.89 million SAFE tokens, reflecting a minor increase from 336.8 million in July 2024.
Voting Power Distribution: The top 10 voters controlled 50.85% of the total voting power, a slight decrease from 51.03% in July. The top 201-500 voters saw a notable increase of +7.13%, and the top 501-1000 voters grew by +5.89%. These shifts suggest a modest redistribution of voting power towards the lower tiers, even as the top 10 remain dominant.
Governance Metric Monitoring:
Participation Rate: Slightly increased to 4.44% from 3.89% in July, indicating a modest rise in engagement.
Unique Voters: Decreased to 163 from 209 in July, reflecting a reduction in voter participation across the broader community.
Voting Power (Average voting power on proposal): Increased to 14.95M SAFE from 13.01M SAFE in July, suggesting a consolidation of influence among fewer, more engaged voters.
Delegates Voting: 27 delegates voted at least once, down from 32 in July, continuing the decline in delegate engagement.
Voter Dynamics:
Existing Voters: 38 voters increased their voting power by 6.64M SAFE, while 28 decreased by 7.38M SAFE. One notable increase was malikelbay.eth, with over 75.28% increase in voting power, strengthening his influence in governance decisions.
New Potential Voters: 22 new potential voters holding 1.64M SAFE voting power, adding diversity to the voter base.
Delegate Status Shifts:
Active Delegates: Decreased to 41 from 45 in July.
Inactive Delegates: Increased to 62 from 57 in July.
Ghost Delegates: Remained relatively stable at 132.
Contentiousness: Minimal, with 75.91% supporting “ACCEPT.”
[SEP 35] Improve voting UI/UX with SAFE on mobile
Category: OBRA Initiatives
Overview: Aims to enhance mobile voting UI/UX via the Lighthouse app.
Participation: 152 voters, 14M SAFE tokens cast.
Contentiousness: Minimal, with 82.07% supporting “ACCEPT.”
[SEP 36] Simulations/Demos and Tidbits for All Safe Use Cases
Category: OBRA Initiatives
Overview: Seeks 24,000 USDC to create interactive guides for Safe wallet use.
Participation: 156 voters, 15M SAFE tokens cast.
Contentiousness: Minimal, with 98.97% supporting “ACCEPT.”
Governance Impact and Strategic Implications:
Despite the slight increase in participation, voter turnout in August remained low, continuing to present a challenge for SafeDAO. While the strong consensus on proposals indicates alignment within the community, the influence of high-voting power participants continues to significantly shape outcomes. Moving forward, addressing low turnout, fostering broader participation, and re-engaging inactive delegates will be essential priorities.
