SafeDAO Governance Analytics Report Thread

SafeDAO Governance Analytics Report #1: April 2024

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:

  1. 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.

  1. 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.
  1. 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.
  1. 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.

For a detailed analysis, you can view the full report here: SafeDAO Governance Analytics Report #1: April 2024.

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SafeDAO Governance Analytics Report #2: May 2024

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:

  1. 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.

  1. 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.
  1. 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.

  1. 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.

For a detailed analysis, you can view the full report here: SafeDAO Governance Analytics Report #2: May 2024.

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SafeDAO Governance Analytics Report #3: June 2024

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:

  1. [SEP 27] Governance Amendments Season 2, Sprint 4

    • Category: Governance
    • Overview: Allows flexible voting on governance amendments throughout the season.
    • Participation: 258 voters, 12.1M SAFE tokens cast.
    • Contentiousness: Nearly unanimous support.
    • Top 20 Voters: All supported the proposal.
  2. [SEP 28] OBRA Budget Amendments Season 2, Sprint 4

    • Category: OBRA Initiatives
    • Overview: Manages OBRA budget with three redistribution options.
    • Participation: 255 voters, 12.2M SAFE tokens cast.
    • 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.

For a detailed analysis, you can view the full report here: SafeDAO Governance Analytics Report: June 2024.

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