Narrowly avoiding April Fool’s this time around, we are here to review some of the statistics regarding Snowball, our assets, and community over the last 30 days:
The snapshot for the statistics on this article was taken on Apr. 6th, 2022.
SNOB Price: $0.14
Throughout this last month, SNOB’s price action has remained within a small range, getting rejected multiple times at the $0.21–0.22 level, and bouncing off the $0.17–0.18 level.
SNOB Supply: 17.57M
As SNOB issuance slows down, we see a very small increase in supply this month. Regardless, we are ultimately approaching the 18M maximum supply of SNOB, where the token will no longer be inflationary in nature.
Snowball Treasury: 1.23M SNOB & 15.21M AXIAL
This month we’ve had the first installments of treasury expenditure as suggested through proposal 22. This is expressed as a deficit of approximately 160,000 SNOB in our treasury, while our AXIAL reserves continue climbing by approximately 2.42M AXIAL.
These funds don’t include any tokens held by Snowball’s council wallet.
Staked SNOB (xSNOB): 10.7M
We’ve seen an increase in staking by 200,000 SNOB, which brings our total staked to approximately 61.21% of the token’s total supply.
Even though a month has passed since previous locks, the 1,293 wallets staking SNOB are doing so for an average of 1.36 years, longer than last month’s 1.35.
SNOB Circulating Supply: 5.58M
The circulating supply of SNOB has fallen once again by approximately 40,000 SNOB, following a clear trend. This brings the percentage of circulating supply from 32.08% to an even lower 31.77% of SNOB’s supply.
xSNOB Supply: 7.3M
The supply of xSNOB has also increased by approximately 200,00 xSNOB as more SNOB is staked on the contract.
The distribution of voting power amongst the top xSNOB holders did not see much change this month, other than a few percentage changes:
- 0xc73d…8d38 (16.96% → 18.47%)
- 0x1257…7680a (11.76 → 10.52%)
- 0xac9b…6e82 (8.18% → 7.94%)
- 0xdbc1…409f (5.70% → 5.25%)
- 0x6f6f…baf6 (5.21% → 4.97%)
Voter Turnout: 40.53%
We’ve maintained our 40%+ metric for voter turnout, even increasing our numbers by 0.08% this week. As more users find their way into our community, you’d expect this number to retreat but it seems our governance is still as strong as ever.
With no new proposals this month, we continue with our average xSNOB participation in proposals around 1.88M xSNOB.
Wallets with 50k+ xSNOB: 22
No change this week to our 50,000+ xSNOB holders list, which indicate those that can directly make on-chain proposals through governance, let alone suggest or discuss them through our social media channels.
Forgetful SNOB Stakers: 626
We find ourselves with 7 more forgetful snowballers this month while the amount of SNOB forgotten in our xSNOB contract dipped by approximately 5,000 to a value of 447,000 SNOB.
Will these snowballers ever return? Do they know what is at stake?
Average xSNOB Distribution: 21,578 SNOB & 982,454 AXIAL
Now reaching almost 1M SNOB and 20M AXIAL distributed, our average weekly distribution sits at a comfortable 80.2% APR for our xSNOB holders.
About Snowball
Snowball Venture Studio is a community run DAO whose mission is to spur innovation in the DeFi ecosystem by providing resources and support to new projects and teams. Snowball Venture Studio has already launched or is supporting Snowball Earn, Snowball DeFi University, Axial, Teddy, Lava, and FiHub.
If your DeFi startup is looking for assistance with engineering, design, branding, marketing, or strategy, we would love to speak with you. Join the conversation in Discord or Telegram and stay up to date on our Twitter.
