SafeDAO Governance Analytics Report Thread

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SafeDAO Governance Analytics Report: December 2024

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We are pleased to present the SafeDAO Governance Analytics Report for December 2024. This month saw the continuation of 4 proposals, highlighting ongoing governance activity. The report focuses on key metrics and insights to enhance transparency and support informed decision-making within the SafeDAO community.

Key Findings:

Votable Supply and Voting Power Distribution

  • Votable Supply Changes:
    The votable supply of SAFE tokens increased to 393.84M, up from 376.06M in November, reflecting a growth of +17.78M SAFE (+4.73%). This rise indicates an expansion in the potential voting power available for governance participation. However, actual engagement remains a challenge.

  • Voting Power Distribution:

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    In December 2024, the top 10 voters controlled 48.79% of the total voting power, down significantly from 52.63% in November, indicating a decline in concentration at the top. The top 11-50 voters increased their share to 30.61% (+17.04%), while the top 51-200 voters rose to 15.85% (+8.03%). The top 201-500 voters saw modest growth to 3.47% (+9.53%), and the top 501-1000 voters slightly increased their share to 0.71% (+5.83%). These shifts reflect a more distributed voting power landscape, with increased participation from mid-tier and lower-tier voters.

Voting Participation Trend

  • Participation Rate:
    The participation rate decreased slightly to 3.17%, down from 3.32% in November, reflecting a marginal decline of -0.15%, suggesting stable yet slightly waning voter engagement.

  • Unique Voters:
    Unique voters increased significantly to 201, up from 157 in November (+28.03%).

  • Voting Power:
    Average voting power remained stable at 12.50M SAFE, with a negligible change compared to November. The increase in unique voters alongside stable voting power suggests increased activity from smaller voting power participants.

  • Delegate Participation:
    Delegate participation slightly decreased to 30, down from 32 in November (-6%), reflecting a minor reduction in delegate engagement.

  • New Voters:
    New voters dropped to 7, down from 12 in November, highlighting a decline in onboarding new participants.

Voter Dynamics

Existing Voters:
Among existing voters, 31 increased their voting power by a total of 6.06M SAFE tokens, while 59 experienced reductions totaling 11.06M SAFE, including 30 voters who lost all voting power.

Notable changes include:

  • governance.karpatkey.eth: Voting power increased by +22.18%, now representing 10.47% of the quorum.
  • dennisonbertram.eth: Voting power increased by +12.66%, now representing 10.97% of the quorum.
  • evgeny.eth: Voting power decreased by -11.17%, now representing 4.41% of the quorum.

New Potential Voters:
December introduced 43 new potential voters, collectively holding 32.37M SAFE tokens, reflecting an expanding voter base with the potential to influence governance decisions.

Delegate Status Shifts:

  • Active Delegates: Increased to 39, up from 36 in November (+8.33%).
  • Inactive Delegates: Decreased to 67, down from 70 in November (-4.29%).
  • Ghost Delegates: Decreased to 117, down from 120 in November (-2.50%).

Proposal Outcomes

  1. [SEP 49] Introduction of Committee and Council Structure within Outcomes-Based Resource Allocation Framework (OBRA)

    • Category: Governance
    • Overview: Proposed a new committee and council framework to streamline SafeDAO’s grant allocation process and improve governance accountability.
    • Participation: 165 voters, 14.10M SAFE tokens cast.
    • Contentiousness: Strong support, with 96.26% voting “ACCEPT.”

  2. [SEP 50] Establishing a DAO Oversight Committee

    • Category: Governance
    • Overview: Proposed the formation of a Treasury Management Steering Committee to oversee treasury strategy, asset allocation, and accountability.
    • Participation: 171 voters, 8.45M SAFE tokens cast.
    • Contentiousness: Divided, with 57.78% voting “ACCEPT.” Proposal failed due to quorum not reached.

  3. [SEP 51] Develop and Integrate Ecosystem Vaults

    • Category: OBRA Initiatives
    • Overview: Sought funding to create custom ecosystem vaults leveraging Safe’s infrastructure to enhance user experience and generate revenue.
    • Participation: 179 voters, 12.18M SAFE tokens cast.
    • Contentiousness: Near-unanimous agreement, with 96.59% voting “ACCEPT.”

  4. [SEP 52] Contribution Efficiency System (CES) Bridge Extension

    • Category: OBRA Initiatives
    • Overview: Requested funding to extend the CES for three months to support ongoing initiatives and align with new governance structures.
    • Participation: 186 voters, 15.27M SAFE tokens cast.
    • Contentiousness: Broad support, with 95.46% voting “ACCEPT.”

Governance Impact and Strategic Implications

December’s proposals showcased varying levels of voter engagement and alignment. SEP 49, SEP 51, and SEP 52 achieved strong support, reflecting consensus on key governance and operational initiatives. SEP 50 faced a divided voter base, failing to meet quorum despite majority backing.

The increase in unique voters and broader voting power distribution indicate progress toward inclusivity, yet the decline in participation rate and challenges in meeting quorum highlight persistent engagement issues. SafeDAO must continue to mobilize inactive voters and sustain engagement among active participants to foster robust and inclusive governance.

For a detailed breakdown and insights, you can view the full report here: SafeDAO Governance Analytics Report: December 2024.

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