Flipside Governance Recap | 29 July 2022

Welcome to the Flipside Governance Team recap! Here’s a weekly summary of heady governance activity, our hard-hitting research & data analysis, and key news stories across the broader governance space.

Team Highlights 🚨

• Fig shares our dashboard on Aave delegations with Penn Blockhain, a team that is testing out MakerDAO’s delegate platform model for use on AAVE. Check out some of our findings in the analysis section below.
• Goodbye to Nhat and Peter! Our two summer team members are leaving to return to school. Thank you both for all of the hard work!

Our Research and Content ✏️

• Osmosis Governance | Part 3: Users vs. Governors: Following Part 2 of the series, Jess dives deeper into Osmosis governance to breakdown the differences in on-chain actions of governance participants and general users. How does the activity of these two types of users compare across total transactions, swaps, liquidity providing, and staking? Take a look!

Across the Industry: Governance News of the Week 📰

• Lido DAO rejects 10M LDO token sale to Dragonfly Capital: The deal was proposed by Lido leadership and would have exchanged 1% of the LDO token supply for ∼$14.5 million in DAI. Skeptics argued that the deal would essentially give Dragonfly Capital “free money” as no lock-up period was included. A total of 43 million tokens voted to reject the proposal of which 40.3 million were held by nine whales.
• TRON DAO Announces New Grants Program to Foster Growth Overall: The Community Ambassador Grant Program will create a pathway between the DAO and dedicated TRON community members in order to expand the TRON ecosystem. With a quarterly grant allocation of $30,000, the program aims to establish community on social networks, inspire genuine support for TRON DAO, and sustain regular engagement.
• ApeCoin DAO Approves Funding of BAYC News Website: The BAYC Gazette is 24-hour news site created to track all Yuga Labs projects and NFT market insights. The website will allow Yuga Labs to extend its reach in the media industry.

Flipside Governance | Analyses of the Week 📊

Aave Delegations

The team published an analytics dashboard on Aave delegations this week. Below, we can see that delegations are relatively rare on Aave, with only .05% of tokens delegated to other voters.

Only 6.5% of votes cast are “no” votes. However, as you can see on the graph on the right, these “no” votes tend to come from voters with substantial voting power.

Optimism Governance

maybeYonas published an incredibly comprehensive dashboard on Optimism Governance. As you can see below, the average delegation is 400K OP (median is 180K). 10% of the recognized delegates (6 wallets) control 45% of governance power.

Flipside Governance Activity 📜

The Flipside team voted in quite a few proposals this week. Here’s a recap of the proposals we voted on and the rationale for our votes:

If you are interested in joining the Flipside Governance team, please email us at governance@flipsidecrypto.com or ping @avimeyers on Twitter.