SafeDAO Governance Analytics Report: January 2025
We are pleased to present the SafeDAO Governance Analytics Report for January 2025. This month’s report focuses on a single proposal, as we aim to provide the insights into voting participation, voter dynamics, and shifts in voting power distribution. While the limited proposal count means some metrics should be interpreted with caution, the data reveals key trends that will inform our ongoing efforts to strengthen SafeDAO governance.
Voting Participation Trend
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Participation Rate:
In January 2025, the participation rate increased from 3.18% in December 2024 to 4.23%. It is important to note that this figure is based on one proposal, so further observations over a broader range of proposals will be necessary to confirm a sustained trend. -
Unique Voters:
Unique voter participation declined to 151 in January from 201 in December 2024—a decrease of approximately 25%. This reduction may be partly attributable to the limited number of proposals this month.
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Voting Power:
The average voting power per proposal rose to 16.7M SAFE tokens from 12.5M SAFE tokens in December 2024. This suggests that, although fewer unique voters participated, those who did were wielding higher voting power. -
Delegate Participation:
Only 27 delegates cast at least one vote, continuing a downward trend from 30 in December 2024, 32 in November 2024, and 41 in September 2024. -
New Voters:
January welcomed 11 new voters, up from 7 in December 2024. While this modest increase is encouraging, further efforts are needed to broaden community participation.
Voter Dynamics
Existing Voters:
An analysis of 78 existing voters in January 2025 reveals notable changes:
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Increases:
- 24 voters increased their voting power, collectively adding 6.461M SAFE tokens.
- Notable Example:
- 0xc48b5d…75b6 surged from 681.57 to 200,684 SAFE tokens—a remarkable 29,317% increase—now representing about 2.01% of the proposal quorum.
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Decreases:
- 54 voters experienced declines, with 28 losing all their voting power, resulting in a total reduction of 15.823M SAFE tokens.
- Notable Examples:
- evgeny.eth saw a drop from 441,275 to 289,623 SAFE tokens (-34.39%), representing roughly 2.90% of the proposal quorum.
- 0x468087…3e0c decreased from 265,791.55 to 218,892.77 SAFE tokens (-17.64%), accounting for approximately 2.19% of the quorum.
New Potential Voters:
January introduced 38 new potential voters, collectively holding 10.335M SAFE tokens. Their addition diversifies the voter base and may significantly influence future governance outcomes.
Delegate Status Shifts
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Active Delegates:
Increased to 40 in January 2025, up from 39 in December 2024 and 36 in November 2024. This gradual uptick suggests improving delegate engagement. -
Inactive Delegates:
Decreased slightly to 66 from 67 in December 2024, indicating a positive move towards re-engagement. -
Ghost Delegates:
Declined to 115 in January 2025 from 117 in December 2024, reinforcing the trend of improved delegate activity.
These shifts underscore a slow but steady movement toward a more engaged delegate community, though continued focus on activation and retention remains essential.
Proposal Outcome
- [SEP 53] Governance Amendments Season 4, Sprint 4
- Category: Governance
- Overview: This proposal seeks to amend the governance framework by removing the mandate that Sprint 4 is exclusively for governance reviews. The change will allow all four sprints in a season to process governance proposals of any type.
- Voter Participation:
151 voters participated, a figure below the average for governance proposals. - Voting Power Cast:
A total of 16.654M SAFE tokens were cast, with a participation rate of 4.32%. - Level of Contentiousness:
The proposal received overwhelming support: 99.76% of voting power (16.6M SAFE tokens) was cast as “ACCEPT,” with only 0.07% as “MAKE NO CHANGES” and 0.17% as “ABSTAIN.” Unanimous backing from the top 20 voters underscores a strong consensus in favor of the amendments.
Implications:
Despite the lower number of unique voters, the near-unanimous approval by key stakeholders validates the proposal’s merits and highlights the need to continuously engage both influential and broader community participants in future governance decisions.
Shifts in Voting Power Distribution
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Votable Supply:
The votable supply remained stable at 393.84M SAFE tokens, unchanged from December 2024. -
Voting Power Distribution:
In January 2025, the distribution of voting power shifted subtly. The top 10 voters increased their combined power from 192.10M to 195.10M SAFE tokens (+1.56%), representing 49.51% of the total. In contrast, the top 11-50 voters declined from 120.52M to 118.14M SAFE tokens (–1.97%, or 30.01%), and the top 51-200 group dropped from 62.39M to 61.35M SAFE tokens (–1.67%, or 15.57%). Meanwhile, lower tiers saw modest gains: the top 201-500 voters increased from 13.65M to 13.89M SAFE tokens (+1.79%, 3.53%), and the top 501-1000 voters grew from 2.81M to 2.92M SAFE tokens (+4.16%, 0.74%). These changes reflect a slight consolidation of influence among the top voters alongside marginal growth in the lower tiers.
Governance Impact and Strategic Implications
January 2025’s data—albeit from a single proposal—reveals a nuanced governance landscape. The increased participation rate and higher average voting power suggest that influential voters are actively engaging, even as overall unique voter numbers and delegate participation decline. The strong, near-unanimous support for [SEP 53] reinforces confidence in governance amendments while highlighting the need to further broaden community involvement. Moving forward, sustained efforts to activate new and inactive voting power, as well as maintain robust delegate participation, will be key to ensuring a vibrant and inclusive governance process.
For a detailed breakdown and insights, you can view the full report here: SafeDAO Governance Analytics Report: January 2025