Uniswap Voting Power Distribution
A brief analysis of how voting power is distributed between Uniswap users in Governance.
391 Smaller volume addresses vote as against 393 larger volume accounts representing a difference of only 2.
We define large volume addresses as those with greater or 100K UNI token balances, and small volume as addresses with less than 100K UNI token balances.
We count the number of smaller volume addresses that are voting vs. larger volume addresses and the results are presented in the chart below.
Therefore, the distribution ratio of addresses to votes is approximately 6.5:1
To count governance votes, transactions made to the GovernorAlpha contract in the last 30 days are queried, then filtered out those that meet the function_name='castVote'
condition. The results are counted as seen below.
Introduction
To vote on Governance in Uniswap, the UNI token is required. In order for UNI to be used as a vote, the owner must first go through the delegation process. The owner could delegate themselves, or a trusted third party to vote on proposals.
Uniswap Governance is deployed as GovernorAlpha smart contract 0x5e4be8bc9637f0eaa1a755019e06a68ce081d58f
where UNI owners cast their vote, and the UNI token is deployed at 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984
.