Project Overview

As Terra 2.0 has expanded, we’ve seen a number of governance proposals come to light. Analyze the voting activity on the most recent 5 proposals. Can you identify any trends or patterns in voting? ** \n **

Bonus: Dig up and compare the text of 2 governance proposals. What do you think of these proposals? What would have made them stronger or likelier to gather more votes? Do you have any improvements to recommend?

Governance

Terra's Governance module inherits from Cosmos SDK's gov module. This document is a stub, and mainly covers important Terra-specific notes on how it is used.

***The Terra protocol is a decentralized ***

public blockchain governed by community members. Governance is the democratic process that allows users and validators to make changes to the Terra protocol. Community members submit, vote, and implement proposals.

The governance module maintains the logic for all governance activity.

To learn how to vote with your staked Luna or submit proposals, visit the Station governance guide.

If you are an advanced user and want to learn about submitting or voting on proposals using Terrad, visit the Governance section of the Terrad Reference.

Deposit period​

After a proposal is submitted, it enters the deposit period, where it must reach a total minimum deposit of 512 Luna within 7 days from the time of its submission. The deposit threshold is reached when the sum of the initial deposit (from the proposer) and the deposits from all other interested network participants meet or exceed 512 Luna.

Deposits protect against unnecessary proposals and spam.

Deposits get refunded if all of the following conditions are met:

• The minimum deposit of 512 Luna is reached within the 7-day deposit period.
• Quorum is met: all casted votes represent more than 30% of all staked Luna.
• The total number of NoWithVeto votes is less than 33.4% of the total vote.
• A vote returns a majority of Yes or No votes.

Deposits are burned under any of the following conditions:

• The minimum deposit of 512 Luna is not reached within the one-week deposit period.
• Quorum is not met: the number of total votes after the one-week voting period is less than 30% of all staked Luna.
• The number of NoWithVeto votes is above 33.4% of the total vote.

Voting period​

If the minimum deposit has been reached before the end of the deposit period, then the proposal goes into a one-week voting period. While the proposal is in voting, holders of staked Luna can cast votes for the proposal.

Voting options​

The 4 voting options available are:

• Yes: in favor.
• No: not in favor.
• NoWithVeto: not in favor, and the creator should lose their deposit.
• Abstain: neither for or against. An abstain vote counts toward meeting quorum but does not count toward the threshold.

Delegators vote using their staked Luna. One staked Luna equals one vote.

If a delegator does not specify a vote with their staked Luna, their vote defaults to the vote cast by the validator their Luna is staked to. Delegators can override a validator's vote at any time during the voting period by voting with their staked Luna.

Voting Stats

Observations

• Among the reviewed proposals, the highest participation is related to number #3796 with 312 voters. The second place belongs to #3619 with 235 voters and the third place belongs to #3795 with 193 participants. #3795 and #3794 are next with 161 and 97 voters respectively. In terms of the number of votes, the ranks are the same.
• Of the total number of votes received, 65% were YES and 25% were NO.
• The most YES belongs to #3619 with 98% and the most NO belongs to #3694 with 68%.
• Proposals #3795 and #3794 were rejected. (Both were related to Terra Poker)

First time voters impact

In this section, you will look at the behavior of ==First Time Voters (FTV)== and examine it from different angles. In the first chart, the prpopals that had the most FTV will be identified and introduced. In the following, we will examine the influence of FTVs in each prpopal separately and the difference between their votes and other voters will be examined.

Methodology

This dashboard consists of tree main parts. in the first part , you can find comprehensive stats about most recent 5 proposals on Terra Governance ==( 3796 - 3795 - 3794 - 3665 - 3619).

The second part discusses about first time voters and their behavior compared to other voters.

In the third part , voter crossover between the 5 mentioned proposals can be found.

Detailed Analyzes

• **p #3796 **
  • situation : Passed
  • Both groups of novices and experienced have had the same tastes.
• **p #3795 **
  • situation : Rejected
  • The majority of the novice group, 70%, agreed, but about 69% of the experienced group disagreed.
• p #3794
  • situation : Rejected
  • The majority of the novice group, 63%, agreed, but about 72% of the experienced group disagreed.
• p #3665
  • situation : Passed
  • Both groups of novices and experienced have had the same tastes.
• p #3619
  • situation : Passed
  • Both groups of novices and experienced have had the same tastes.

Observations

• According to the investigations, prop No. 3796 (Eris Protocol Revised) has the highest participation of FTVs with 28.5%. In the rest of the cases, participation has varied from 11 up to 14 percent.

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• In the following, we will examine the detailed votes of newbies compared to others.

Voter CrossOver

Observations

• 66% of voters participated in only 1 out of 5 cases. 13% voted in 2 cases and 9.5% in all cases.
• The highest share among voters was 3794 and 3619 with more than 68% and 3794 and 3665 with 59%. The lowest participation rate among the voters of 3796 and 3794 was 24.3%.

Discussed Proposals

Terra3796 | Community pool spend proposal Passed ERIS Protocol Revised Grant Proposal Submitted 13 days ago

ERIS is a liquid staking and slow burn arbitrage protocol. We will provide the Terra community with a product suite for a stable LSD economy, a fair delegation and governance framework and a Liquid Staking Derivative Liquidity Hub on Terra. Over the last six months we have built: Amplifier, Amp Extractor, Amp Compounder, Manual Arb We would like to continue building and shipping with our focus on Terra and are requesting 312,500 LUNA (@ $1.60 = $500,000) for finishing the product portfolio around our LSD. The $500,000 will be used as follows: $100,000 for audits $35,000 for marketing $15,000 for infrastructure $350,000 for salaries The funds will be payed out to a 4-out-of-5 community multi-signature wallet and be distributed milestone based. Milestone 0: With passing of the proposal Milestone 1: Launch of Amp Governance Milestone 2: Launch of Arb Repeater Milestone 3: Integration of Warp Protocol With passing of the proposal 50% of the funding will be paid out to cover audits, marketing, infrastructure and a small part of salaries. The remaining 50% will start vesting when all milestones are reached. The vesting will span over 10 months. More information can be found in the agora discussion:

Proposal details Terra3795 | Community pool spend proposal Rejected Terra Poker Grant Proposal (Updated) Submitted 16 days ago

(Updated : This is the correct proposal live for voting) Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to the Terra Ecosystem for its revival. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and continuously making progress to the next big milestones. The purpose of the fund is to help cover costs in the unexpected prolonged bear market. As one of the most significant contributors to the Ecosystem by all metrics, we are requesting a grant of 300,000 LUNA, vested over 3 months of 100K. The allocation of fund is 40% in Operational and Infrastructure, 60% in Wages. The full details of the proposal can be read here: A “Yes” vote on this proposal indicates a “Yes” to funding Terra Poker at the request above.

Terra3794 | Text proposal Rejected Terra Poker | Grant Proposal Submitted 16 days ago

Terra Poker is the first Texas Hold’em style Poker based Play-to-Earn protocol on the Terra Blockchain. Our mission is to leverage the game of poker to attract users to Terra Ecosystem. The underlying proposal highlighted in the forum discussion in summary is: we have demonstrated with a track record of already working and highly used products, and making progress to the next big milestone, Tournaments. The request is for 300,000 LUNA over three equal monthly installments. The purpose of the fund is to help over the unexpected prolonged bear market. TP has already shipped one of the most used products in the Terra Ecosystem. The full proposal can be read here: On Jan 10, the TP team held an AMA with regards to the Proposal that will be made available shortly. A "Yes" vote on this proposal indicates a "Yes" to funding Terra Poker at the request above.

Proposal details Terra3619 | Software upgrade proposal Passed Phoenix Software Upgrade 2.2.0 Submitted 1 month ago

This proposal upgrades the Phoenix chain to v2.2.0 this enables vesting accounts which have incurred slashing to still send their remaining vesting tokens to the community pool. Full release notes can be found here:

Terra3665 | Community pool spend proposal Passed Contro Protocol Grant Proposal Submitted 1 month ago

Contro is a highly innovative DEX protocol that enables scalable prediction and futures markets for the first time in the history of blockchains. Responding to increasing demand for safe, fair and accessible betting markets, it has the capacity to generate large amount of fee income, 10% of which will be used to buy LUNA to give back to the community pool in perpetuity. Contro is going to create new opportunities for a large number of inflowing users and visibility beyond the crypto world by providing the most trustworthy source of aggregated collective knowledge on a variety of topics. Only half of the grant (280,000 LUNA) will be given to the team upfront. The vesting of the second half is conditioned on the release of the MVP and controlled by a 4 of 5 multisig with 4 independent and informed members of the community. Please visit for details.

Conclusion

• The highest participation is related to number #3796 with 312 voters. The second place belongs to #3619 with 235 voters .
• Of the total number of votes received, 65% were YES and 25% were NO.
• Proposals #3795 and #3794 were rejected. (Both were related to Terra Poker)
• prop No. 3796 (Eris Protocol Revised) had the highest participation of First time voters with 28.5%.
• With the conducted investigations, the proposals that the experienced ones voted against, have been rejected, despite the positive vote of the majority of newbies. Therefore, it can be concluded that it is the experienced group that determines the result.

Author

• Moe the Analyst
• Discord : pine_moe!#8905
• Email : moe.qnb@gmail.com
• Twitter : @moe88q

Sources

[1] , [2] , [3]