SafeDAO Governance Analytics Report Thread

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.