SafeDAO Governance Analytics Report Thread

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SafeDAO Governance Analytics Report #4: July 2024

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We’re pleased to share the SafeDAO Governance Analytics Report for July 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 slightly increased to approximately 336.8 million SAFE tokens from 334.4 million in June, reflecting a modest growth of 0.71%.

  • Voting Power Distribution: The top 10 voters controlled 51.03% of the total voting power, a slight decrease from 51.4% in June. There was notable growth in the middle and lower tiers, with the top 51-200 voters increasing by 7.53% and the top 201-500 voters by 9.40%.

Governance Metric Monitoring:

  • Participation Rate: Increased slightly to 3.89% from June’s 3.65%, reflecting a modest rise of 0.24%. Despite this uptick, the participation rate remains relatively low, highlighting the need for enhanced community engagement.

  • Unique Voters: Decreased to 209 from 266 in June, indicating a reduction in the breadth of participation within the SafeDAO community.

  • Voting Power (Average voting power on proposal): Increased to 13.01M SAFE from 12.21M SAFE in June, suggesting a consolidation of influence among fewer voters.

  • Delegates Voting: 32 delegates voted at least once, up from 29 in June, indicating a slight improvement in delegate engagement.

Voter Dynamics:

  • Existing Voters: 24 voters increased their voting power by 5.17M SAFE, while 35 decreased by 8.65M SAFE. 12 voters’ voting power dropped to zero.

  • New Potential Voters: 20 new potential voters holding 6.46M SAFE voting power.

Delegate Status Shifts:

  • Active Delegates: Decreased to 45 from 66 in June.
  • Inactive Delegates: Increased to 57 from 37 in June.
  • Ghost Delegates: Remained unchanged at 131 from June to July.

Proposal Outcomes:

  1. [SEP 29] Nounish Safes - Rocketman

    • Category: OBRA Initiatives
    • Overview: Requests $30,000 in USDC to develop a Revolution Protocol extension.
    • Participation: 174 voters, 18.8M SAFE tokens cast.
    • Contentiousness: Highly contentious with a nearly equal split between the top two options.
    • Top 20 Voters: A few high-power voters’ decisions significantly influenced the outcome, result in the rejection of the proposal.

  2. [SEP 30] Native Split Delegation on Mobile with Notifications about Delegate Participation - Goverland

    • Category: OBRA Initiatives
    • Overview: Aims to implement the Split Delegation feature into the Goverland App (iOS).
    • Participation: 173 voters, 10.1M SAFE tokens cast.
    • Contentiousness: Nearly unanimous support.
    • Top 20 Voters: Strong support for “Accept”.

  3. [SEP 31] Next Generation Frontend for Decentralized Safe Registry

    • Category: OBRA Initiatives
    • Overview: Requests 96,000 USDC to build a new frontend with an optimized UI/UX and a Telegram bot.
    • Participation: 184 voters, 17.6M SAFE tokens cast.
    • Contentiousness: Highly contentious with a nearly equal split between top two options.
    • Top 20 Voters: Divided opinions with a slight majority favoring the rejection.

  4. [SEP 32] Continuation of Governance Accessibility and Participation Enhancement at SafeDAO - StableLab

    • Category: OBRA Initiatives
    • Overview: Requests $24,000 to enhance community updates and foster discussions.
    • Participation: 186 voters, 8.18M SAFE tokens cast.
    • Contentiousness: Nearly unanimous support but failed to reach quorum.
    • Top 20 Voters: Strong support for “Accept”.

  5. [SEP 33] Safe Accounts for NFC Tags - Citizen Wallet

  • Category: OBRA Initiatives
  • Overview: Seeks $10,000 to fund the creation of a Safe Module for NFC tags.
  • Participation: 193 voters, 10.2M SAFE tokens cast.
  • Contentiousness: Nearly unanimous support.
  • Top 20 Voters: Strong support for “Accept”.

Governance Impact and Strategic Implications:
In July, SafeDAO faced engagement challenges with voter participation consistently below average. SEP #29 and SEP #31 were highly contentious, revealing divided community opinions. SEP #30, SEP #32, and SEP #33 saw strong support, but SEP #32 failed to reach quorum despite broad backing, underscoring the need for increased participation. High voting power significantly influenced outcomes, highlighting the importance of strategies to balance participation and enhance community engagement. Ensuring robust governance and onboarding new participants remain priorities to address these issues.

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

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