EVM - 18. Voting Power Within the Arbitrum DAO

Track the consolidation of voting power within the Arbitrum DAO. How many unique wallets have delegated their ARB tokens? How many unique delegates received tokens? Create a dashboard that monitors the total voting power and number of unique delegators for the top 50 delegates. Identify the top 10 delegators (by total ARB) for each delegate in the top 50. Also examine the on chain activities of wallets that have chosen to delegate their voting power and note any patterns. Based on transaction histories, is it possible to identify which user segments are more likely to delegate tokens?

Methodology

In this dashboard, the delegation of Arbitrum has been analyzed first, and the number of delegators, the number of addresses to which delegation has been done, the number of delegated tokens, the average number of delegated tokens and other related parameters have been checked. Then, the top 50 addresses have been extracted in terms of the number of tokens delegated to them, the number of delegates to them, and the number of delegate transactions to their addresses. The tables and filters used in this dashboard are:

Tabels :

arbitrum.core.fact_transactions
arbitrum.core.fact_token_transfers
arbitrum.core.fact_event_logs

Filters :

to_address LIKE lower('0x912CE59144191C1204E64559FE8253a0e49E6548') event_name like 'DelegateChanged'

Introduction

Arbitrum is a layer-2 scaling solution for Ethereum, which aims to improve the scalability and reduce the gas fees associated with transactions on the Ethereum network. One of the key features of Arbitrum is the ability to delegate tokens to other addresses.

Token delegation allows an address to delegate their tokens to another address, giving that address the ability to make transactions using the delegated tokens on behalf of the delegator. This feature is particularly useful for those who want to participate in certain activities or protocols that require a minimum number of tokens, but do not want to give up control of their tokens.

Arbitrum uses a smart contract called "DelegationController" to facilitate token delegation. When a user delegates tokens to another address, they are essentially giving the delegated address the ability to act as an agent on their behalf. The delegated address can then make transactions using the delegated tokens, but they cannot transfer or sell the tokens.