Voting Activity

The Lil Nouns DAO is controlled via onchain voting by token holders. Using the ethereum database, analyze voting activity on Lil Nouns proposals. Since voting is on chain and costs gas, are smaller holders excluded from the voting process? Visualize and analyze this question, along with any other trends you find that are relevant.

Introduction

What are Lil Nouns? Lil Nouns are a smaller version of the Nouns NFT. They are simply just NFT's that are minted every 15 minutes and sent to the highest bidder. They are sent to the Lil Nouns DAO after.

What is an NFT?

A non-fungible token, NFT, is essentially a digital asset that could represent just about anything and is often built using the same kind of programming as cryptocurrencies. It could represent anything from the real world ranging from objects to music to in-game items. They are sold online and bought using cryptocurrency. Some NFT’s come with utility such as the flipside NFT godmode that allows users access to all of their bounties.

Methodology

Look into the voters and how many times they've voted
Look into the total votes on each proposal
look into the gas used

The above graph is going to show the different votes on each proposal over time. As you can see there are some spikes in activity, but in general there seems to be a consistent amount of voting. The below graph will show in total how many votes each proposal got. Regardless of proposalId 15, there seems to be a similar amount of votes per proposal, however, there were two proposals that had no votes at all.

The above graph will then look into the total votes per account and will see how they compare. It is very interesting to note that two accounts count for 50% of the votes on the different proposals. This would mean that their voting power is significantly higher than anybody else, and should be considered a whale because the amount that your own dictates your voting power.

The below graph will go into the total amount of gas used. In June there has been consistent amount of gas being used and there was a quick increase in the amount of gas used. Since the spike it has plateaued and is back to a similar amount being used every day.

Conclusion

Most proposals receive the comparable amounts of votes
Besides a spike in June there has been relatively consistent amount of gas being used
There are two accounts that add up to nearly 50% of all votes making them whales
There has been a larger amount of votes on average in June than before, which could be linked to a larger number of users.