Introducing Terra Ecosystem Voting

Members of the Terra community can help shape the future of the protocol by casting their votes. Submitting a proposal for consideration by the Terra Ecosystem community is open to anyone who chooses to and owns Luna. Any Luna owner can cast a vote on any of these ideas. On the other hand, validators have a great deal of influence over proposals due to their large Luna reserves, thus they must be selected with care.

What is the role of a validator? Exactly what does it mean to have "vote power"?

In order to verify transactions and protect the blockchain, validators run Terra full nodes. To gain staking rewards, anyone can stake their Luna at these validators. These validators have a larger number of votes due to the fact that they possess a greater number of Luna. The more influence there is on the Terra Ecosystem, the more votes there are. A validator's voting power is determined by the quantity of Luna that has been allocated to them.

Method

As terra station we found last 5 proposals as same following proposal_id:

• proposal_id = '1025' title 'Beefy x Moonpot x Terra Partnership'

• proposal_id = '1014' title 'Not So Degenerate Proposal: Road to Efficiency'

• proposal_id = '971' title 'Greenhouse Partnership Proposal [Polygon]'

• proposal_id = '929' title 'Relayer fee recovery (to block 7102688)'

• proposal_id = '919' title 'ProtoFi Partnership Proposal'

Analysis

• Initially Let's go take a glance at the last five proposals for Terra Station.

Observation

Discord: 0xHaM☰d#8391

Conclusion

• As a result of the above charts, we can see that more than 99% of the votes for all the last 5 proposals were placed by the validator, and all of them were passed.