Flipside Governance Recap | 18 November 2022
Welcome to the Flipside Governance Team Recap! Here’s a weekly summary of heady governance activity, hard-hitting research & data analysis, sprinkled with key news from the broader governance space.
Team Highlights 🚨
- Raph to Speak at Eth Gathering Barcelona 🇪🇸: Raph will be sharing his knowledge and wisdom at Eth Gathering from November 19th-20th. Get yo tix here!
- The Govy Show Episode #10: Is full decentralization even that important??? Are DAO “emergency powers” an oxymoron??? Tune in to find out.
Across the Industry: Governance News of the Week 📰
- Flipside Crypto Launches Badger: Badger is the latest DAO tool, allowing users to issue Badges (NFTs) representing tiered access gates within an organization. Badger gives you the ability to issue and revoke badges, forfeit badges you have, and delegate issue/revoke permissions. The best part — ZERO code required.
- Cosmos Hub Prop #82 ATOM 2.0 Fails: Based on the whitepaper published by Cosmos co-founder Ethan Buchman and eleven others, ATOM 2.0 was thought to bring the Cosmos Hub new opportunities for interchain coordination. However, a whopping 37.39% of staked ATOM was used to vote No with Veto 😬. Flipside Governance voted in favour — here’s why.
- Will Osmosis Renew its Grants Program?: Initiated 6 months ago by fellow delegate Reverie, the OGP was launched to fund new community-built tooling and infrastructure. Reverie now seeks a 12-month program renewal. The og proposal drew in big concerns from many around transparency and cost, and has since been revised. Check out the full forum thread for all the deets. Voting closes on November 19th!
Flipside Governance | Analysis of the Week 📊
Looking for some safeDAO governance stats? Look no further.
Today we’re using this dashboard created by Jess to take a deeper look into the nascent DAO’s activity.
safeDAO was spun off Gnosis Safe earlier this year and is tasked with governing the legacy multi-signature wallet. The $SAFE governance token airdrop soon followed.
There are currently 12.5M SAFE tokens delegated for governance power by 4140 delegators to 1590 delegates.
Figure 1 shows that September 28th (day 1 of token release) was the largest single day for delegation with 3.503M tokens. Since then, token delegation has been on the decline, however, we saw a small spike on November 8th where 1.192M tokens were delegated.
“What’s so significant about November 8th?”
Well, it was two days prior to the end of [SEP #2] voting. The SAFE tokens initially airdropped were non-transferable. [SEP #2] was a Safe Ecosystem Proposal to unpause the token contract thus enabling transferability.
Figure 2 shows a large increase in participation from 970 voters in [SEP #1] to 1631 voters in [SEP #2].
That November 8th spike in delegation can be attributed to a last minute calling for some members to place their vote on the SAFE token transferability.
Spoiler: [SEP #2] did not pass. Meaning you can’t run to your nearest exchange and get yourself a $SAFE.
However, it is unlikely that the governance token will remain non-transferable as the DAO evolves and more token demand is generated. It is also important for safeDAO to establish itself as a thriving self-governing community with much to offer in order to back up the value of the token when it does go to market.
Non-transferable governance tokens are not as rare as you may think. We even published a piece comparing voter activity across NFT and token based spaces on Snapshot which you should definitely check out.
In the meantime, you can stay up to date with safeDAO initiatives in the governance forum and refer back to our real-time dashboard for all your $SAFE analytic needs.
Flipside Governance Activity 📜
For more all-round governance content, be sure to follow us on Twitter or here on Medium. We’ll keep you updated.
Hear, hear! If you dig the work we’re doing for our partner DAOs and want to delegate to us, click the links below to get to the delegation page:
If you are interested in joining the Flipside Governance team, we are always listening — DM @flipsidegov on Twitter.
