Aave Delegates' Gas Usage

    analyzing gas usage of AAVE delegates

    INTRO

    We will select our data from Flipside's ethereum.aave.ez_votes and ethereum.core.fact_transactions tables. Since ethereum.aave.ez_votes table does not have a gas_use column, we had to join ethereum.core.fact_transactions on tx_hash.

    Gas is a unit of measurement used to quantify the amount of computational work required to execute a transaction on a blockchain network.

    Aave is an Ethereum-based protocol that offers automated crypto loans. Users can deposit cryptocurrency as collateral and borrow other cryptocurrencies, up to a certain percentage of the collateral value.[source]

    Governance on AAVE has 3 stages which are:

    1. Proposal Creation: A proposal is created by a proposer.
    2. Proposal Voting: AAVE holders vote on the said proposal.
    3. End of Voting Period: For a proposal to pass, the voting power (in % of total voting power) of for-votes needs to reach the quorum. If the proposal has passed, then the proposal state becomes SUCCEEDED, otherwise it is FAILED.[Read More]

    This dashboard aims to analyze AAVE voters gas usage in the last 180 days. Some metrics we will take a look at include

    • Average gas usage
    • Total gas usage
    • Gas usage by weekday
    • Gas usage by transaction type
    METHOD
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    CONCLUSION

    In conclusion, the data dashboard has provided us with a comprehensive analysis of the gas usage patterns of AAVE voters and delegates, shedding light on key trends and insights. The data presented clearly shows that voting transactions use significantly less gas than other transaction types, such as withdrawals, deposits, and borrows. This can be attributed to various factors, including the complexity of smart contracts involved, the amount of data stored on the blockchain, and network congestion.

    Moreover, the dashboard provides a detailed breakdown of the daily and weekly gas usage by AAVE delegates, highlighting peaks and troughs in usage over time. We observe that there was an uptrend in gas usage by AAVE delegates, with a peak of 114M gas units on December 2nd, 2022. Saturdays were the day with the highest gas usage among weekdays, with 299M gas units expended, while Tuesdays saw the least gas usage, with only 53M gas units used, representing only 4.8% of gas usage by weekday.

    Furthermore, the data dashboard reveals interesting information on individual voters' gas usage patterns, highlighting 0xa0efd27acc781549d5b78e89e561aa0903932d56 as the voter that used the most gas to vote, with a total of 7.9M gas units. The dashboard also shows that Proposal 127 has had the highest volume of voting gas usage, with a total of 245M gas units expended on this proposal.

    The insights provided by this dashboard have significant implications for AAVE stakeholders and developers, as they can use this information to optimize gas usage and improve the efficiency of the network. By reducing gas usage and minimizing network congestion, AAVE can enhance the user experience and make the platform more accessible to a broader range of users. Overall, the data dashboard provides a valuable tool for AAVE stakeholders and developers to monitor gas usage patterns and make informed decisions about network optimization.

    When we compare average gas usage by transaction type, it is observed that voting transactions use significantly lower gas - 97.1K in comparison to withdraws, deposits and borrows tx type which use 694K, 531K and 576K respectively. This may be due to the following reasons:

    1. Smart contract complexity: transactions that involve executing complex smart contracts will generally require more gas than simple transactions.

    2. Data storage: transactions that involve storing large amounts of data on the blockchain, such as uploading a large file or creating a new token, will require more gas than transactions that involve minimal data.

    3. Network congestion: when the blockchain network is congested, the gas price will increase as users compete to have their transactions processed quickly. Given voting transactions are not always taking place daily; evident from the gaps in daily gas usage by AAVE delegates on some days, it is safe to assume other transaction types have higher gas usage on average because they are done more frequently especially during congested periods than voting.

    • AAVE voters use an average of 97K gas units per vote, in the last 180 days a total of 1.2B gas units has been expended on voting.
    • The daily average gas used by AAVE delegates ranges between 85K to 97K, only on a few occassions do we witness spikes in average gas usage up to a maximum of 139K on 9th of March, 2023.
    • The total gas units used daily by AAVE delegates was in an uptrend reaching a high of 114M gas units on Dec 2nd, 2022. But since then we've seen the daily gas usage decline drastically.
    • By weekday, AAVE delegates have used more gas on Saturdays - 299M than any other day of the week. On the other hand, Tuesday has seen the least gas usage with 53M gas units used. This represents 25% and 4.8% respectively of gas usage by weekday.
    • 0xa0efd27acc781549d5b78e89e561aa0903932d56 is the voter that has used the most gas to vote - 7.9M.
    • Proposal 127 has had the highest volume of voting gas usage, 245M.
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