Analysis of Compound Delegation
INTRODUCTIONDecentralized finance (DeFi) aims to build an open financial system and enable token holders to vote on protocol changes. Compound, a leading DeFi lending protocol, uses the governance token COMP for on-chain voting. While COMP holders can vote directly, Compound also allows delegation where token holders assign their votes to other addresses. Delegation is intended to enhance the collective participation of the community in the governance process by letting users delegate voting ...
Analysis of Compound Delegation
INTRODUCTIONDecentralized finance (DeFi) aims to build an open financial system and enable token holders to vote on protocol changes. Compound, a leading DeFi lending protocol, uses the governance token COMP for on-chain voting. While COMP holders can vote directly, Compound also allows delegation where token holders assign their votes to other addresses. Delegation is intended to enhance the collective participation of the community in the governance process by letting users delegate voting ...
Trends in Compound Voting Participation and Decentralization
TLDRThis analysis and accompanying governance analytics dashboard examines trends in voting participation and decentralization in Compound governance from 2020-2023. Key insights include:Participation, measured by the number of unique voting addresses, spiked in 2022Q2 but subsequently declined in 2023 back to prior levels, signaling a need for ongoing voter engagement over time.Despite temporary participation growth, overall voting power exhibited minimal change, indicating new voters had li...
Trends in Compound Voting Participation and Decentralization
TLDRThis analysis and accompanying governance analytics dashboard examines trends in voting participation and decentralization in Compound governance from 2020-2023. Key insights include:Participation, measured by the number of unique voting addresses, spiked in 2022Q2 but subsequently declined in 2023 back to prior levels, signaling a need for ongoing voter engagement over time.Despite temporary participation growth, overall voting power exhibited minimal change, indicating new voters had li...
Uniswap On-/Off-Chain Voting Update: December 2022
This is the January update to the ongoing on-/off-chain Uniswap analysis. An archive of related work is provided below:August 2022 (initial article), including an introduction and definition of the metrics analyzed.September 2022 (update). Review of Proposal 2.24 Create the Uniswap FoundationOctober 2022 (not applicable). There were no on-chain proposals completed during the prior month.November 2022 (update). Review of Proposal 2.25 Deploy Uniswap V3 on zkSyncDecember 2022 (not applicable). ...
Uniswap On-/Off-Chain Voting Update: December 2022
This is the January update to the ongoing on-/off-chain Uniswap analysis. An archive of related work is provided below:August 2022 (initial article), including an introduction and definition of the metrics analyzed.September 2022 (update). Review of Proposal 2.24 Create the Uniswap FoundationOctober 2022 (not applicable). There were no on-chain proposals completed during the prior month.November 2022 (update). Review of Proposal 2.25 Deploy Uniswap V3 on zkSyncDecember 2022 (not applicable). ...
Uniswap On-/Off-Chain Voting Update: November 2022
This is the November update to the ongoing on-/off-chain Uniswap analysis. An archive of related work is provided below:August 2022 (initial article), including an introduction and definition of the metrics analyzed.September 2022 (update). Review of Proposal 2.24 Create the Uniswap FoundationOctober 2022 (not applicable). There were no on-chain proposals completed during the prior month.We also encourage readers to view the accompanying dashboard that can be accessed at https://signalcorps.s...
Uniswap On-/Off-Chain Voting Update: November 2022
This is the November update to the ongoing on-/off-chain Uniswap analysis. An archive of related work is provided below:August 2022 (initial article), including an introduction and definition of the metrics analyzed.September 2022 (update). Review of Proposal 2.24 Create the Uniswap FoundationOctober 2022 (not applicable). There were no on-chain proposals completed during the prior month.We also encourage readers to view the accompanying dashboard that can be accessed at https://signalcorps.s...
Analysis of Uniswap Delegation
INTRODUCTIONThis post explores Uniswap delegation data to assess whether delegation is a contributing factor to the levels of concentration/decentralization observed in on-/off-chain voting on Uniswap governance proposals.BALANCE CATEGORY CLASSIFICATIONThe following categorical definitions are used in this post to describe addresses with different UNI balances. For example, Whales are defined as those addresses with one million or greater UNI, Dolphins as those with balances between 100k – 1M...
Analysis of Uniswap Delegation
INTRODUCTIONThis post explores Uniswap delegation data to assess whether delegation is a contributing factor to the levels of concentration/decentralization observed in on-/off-chain voting on Uniswap governance proposals.BALANCE CATEGORY CLASSIFICATIONThe following categorical definitions are used in this post to describe addresses with different UNI balances. For example, Whales are defined as those addresses with one million or greater UNI, Dolphins as those with balances between 100k – 1M...
