Flipside Governance Recap | 6 Jan 2023
Happy New Year! Welcome to the Flipside Governance Team Recap. Here you’ll get a full view of what we‘re up to each week, from penning proposals to publishing research to our all important voting activity & rationales. Enjoy!
🚨 Team Highlights
- In case you missed it, the last edition of the Flipside Governance Recap included a summary of all our votes in 2022! We documented a total of 562 votes. The team voted most on Osmosis & MakerDAO governance proposals, but participated across 20 different DAOs in 2022.
- In the New Year, a few team members shared their hopes and goals for the upcoming year. Raph hopes the space comes closer to goals of trustlessness and transparency, and is excited to work toward transparency by pumping out more in-depth research. Jess plans to lean into providing the best IBC and governance data in the space.
📰 Across the Industry: Governance News of the Week
- The Psychological Differences Between Bitcoin and Ethereum Governance: Bill Ottman, CEO of minds.com and freedom of information advocate, reviewed some key differences between Ethereum and Bitcoin governance and users’ attitude toward change. He concludes that Bitcoin maximalists typically prioritize predictability and security, while Ethereans value innovation and composability. In the end, the differences in governance of Bitcoin and Ethereum may be primarily psychological.
- Fantom Votes to bring gas monetization to successful dApps: The Fantom community recently voted ‘Yes’ on a governance proposal that introduces a new revenue stream for builders by allowing high-transaction dApps older than 3 months to apply for a gas cash-back. The community aligned on this proposal, with over 99% of voters supporting it. Many hope it will incentivize builders and creators to use Fantom.
📊 Flipside Governance | Analysis of the Week
This week’s analysis highlights data from outside the governance space. The video below displays changes in the distribution of BONK from 12/24/22 to 1/3/23. BONK (Bonk Inu) is a meme coin on Solana. Fifty percent of the supply was airdropped to community members who held certain NFTs.
The data visualization video tells a story of the airdrop becoming available, with the majority of claimers getting their hands on BONK right away and others following soon after. BONK is then allocated the DAO, marketing team, and core team.
Liquidity moves in and out of DEXs, but the majority of BONK airdrop recipients hold their tokens. The majority of the supply held by users remains in wallets of airdrop recipients rather than other market buyers.
The BONK airdrop was a godsend for development teams in the Solana ecosystem. Five percent of the supply was dropped to developers, with some selling their airdrops for over $50,000, extending their runway by months at a time when building on Solana is not as profitable and secure as it once was.
📜 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.
