SafeDAO Governance Analytics Report Thread

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SafeDAO Governance Analytics Report #3: June 2024

SafeDAO Report #3: June 2024
SafeDAO Report #3: June 20241027×577 57.1 KB

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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