Osmosis Governance: 362 and Beyond

Governance in the Cosmos ecosystem has been a hot topic of late - first with Cosmos Hub 82 and now in Osmosis. Osmosis Prop 362 is a vote to decide the fate of the Osmosis Grants Program (OGP). Contention aside, there have been many points and counterpoints, AND a ton of vote switching. Let's take a look at the governance behavior surrounding Proposal 362. On the outside, it seems that a ton of voters have been switching their votes - is this actually true, or is it just big whales/validators causing these swings? What is the average wallet size (in OSMO) of the people voting? Of the people who have changed their vote more than once? Compare and contrast voting behavior of validators and average users in this context. Further, is Prop 362 significantly different than other proposals from an engagement perspective? Analyze voting for 362 vs. other recent governance proposals.

INTRODUCTION

Osmosis is a DEX protocol which uses smart contracts in order to price assets also known as an AMM,

GOVERNANCE on Osmosis is decentralized, users who stake their OSMO can vote on government proposals. Community discussions on proposals is mostly done on Discord and Telegram.

METHODOLOGY

In this dashboard we will present data about voters and votes on proposal 362 along with comparisons with other proposals and the voters balance.

DATA SOURCES: Data were taken from Flipside’s Osmosis.core tables.

Total Stats.

Distribution

Here we see overall stats about the proposal. There are 24k votes and 22k voters. 85% voted YES on the proposal, 7% voted NO, 5% ABSTAIN and 3% NO WITH VETO.

Here we see the distribution of regular and validator votes.

The validators even though they are 0.5% of the total voters 28% of them voted NO compared to 7% of regular voters.

Here we see the majority of the voting happened on Nov 15 and that most of the NO votes came after that day.

Here we see the top 10 voters by their number of votes. osmo16798cwv… had 17 votes while the 10th one had 9 votes.

Daily and Top 10 Voters.

Other Proposals

Above we see the number of votes compared to other recent proposals and we note that on both metrics Prop 362 is average.

People who changed their vote

Here we see the people who changed their vote at 1.28% or 286 compared to the other 21k. Even though there was an upset in the media about voting behavior we can see that it was a minority.

Distribution by Wallet Balance.

Here we see that the average voter has 148 OSMO or 148$ in today’s value.

Above we see the balance distribution. 80% of voters have less than 10 OSMO, 9% have 10-100, 9.5% have 100-1k and 1.25% have 1k-10k. We see that ~90% of voters have less than 100 OSMO (or $ today) on their wallet.

CONCLUSION

The proposal had 24k votes.
85% voted YES.
Validators represents 0.5% of votes.
Majority of voting happened on Nov 15.
Top voter had 17 votes!
There was an average number of voters and votes compared to other proposals.
1.28% changed their vote.
Average voter has 148 OSMO in their wallet.
90% of voters have less than 100 OSMO on their wallet.

flipside

flipside

Osmosis Governance: 362 and Beyond

INTRODUCTION

METHODOLOGY

CONCLUSION