As is tradition, let’s take some time to review this month’s statistics regarding the SNOB token, Snowball platform and other interesting numbers that demonstrate how our community has progressed in the last 30 days:
The snapshot for the statistics on this article was taken on Mar. 7th, 2022.
SNOB Price: $0.21
This month the SNOB token has had an almost 40% run-up to $0.35, before settling into a downwards trend following the somewhat bearish market conditions affecting most tokens. It maintained last month’s range of $0.21 to $0.25 for several days before retesting at the $0.20 to $0.21 support level, which is where it stands now.
SNOB Supply: 17.52M
This month we find ourselves within the last 500,000 SNOB tokens to be ever minted, and while the issuance will still continue for a while given how its emission curve was voted on and set to, it is perhaps time to start discussing what the next steps for Snowball will look like.
Snowball Treasury: 1.39M SNOB & 12.79M AXIAL
Snowball’s treasury has accrued approximately 10,000 SNOB and 2.89M AXIAL this month. The most recent proposal involves spending some of these funds towards developing a Snowball widget within Rome Terminal; the details of which will be shared as progress is made.
These funds don’t include any tokens held by Snowball’s council wallet.
Staked SNOB (xSNOB): 10.5M
Another 150,000 SNOB was staked this month, bringing the total to a staggering 59.97% of all SNOB’s supply.
These stakes take place from 1298 wallets and have an average lock period of 1.35 years. This slight decline from last month’s 1.38 year average indicates an increase in longer-term stakes, if all stakes remained the same, the expected average would have dropped to approximately 1.3.
SNOB Circulating Supply: 5.62M
As more and more SNOB finds its way into xSNOB and is staked long-term, the circulating SNOB supply diminishes accordingly. This month, SNOB’s circulating supply went from 5.73M to 5.62M, representing only 32.08% of all SNOB’s supply.
xSNOB Supply: 7.1M
This month’s xSNOB supply diminished by 30,000 tokens due to the decay of voting power as time passes, regardless of how many more SNOB tokens were staked in the last 30 days.
This amount of xSNOB means that a malicious voter would need 3.55M xSNOB to attempt to pass a proposal themselves, or about $1.5M locked for a year, $3M locked for 6 months, etc.
The top xSNOB holders have remained the same this month, with some minor percentage voting power changes to most of them:
- 0xc73df1e68fc203f6e4b6270240d6f82a850e8d38 (17.08% → 16.96%)
- 0x125789ecf75a6bf8e29db4df0222b1e7e3b7680a (12.61% → 11.76%)
- 0xac9be1372ab5fc54cdf4dd2afe7a678e94706e82 (7.78% → 8.18%)
- 0xdbc195a0ed72c0b059f8906e97a90636d2b6409f (5.96% → 5.70%)
- 0x6f6fa54d4c680aa40077608592d59dc1a306baf6 (5.21%)
Voter Turnout: 40.45%
This month we’ve seen another 0.19% rise in voter participation, cementing our position in one of the most governance-oriented DAOs in all of DeFi. While we haven’t seen a proposal so hotly debated like proposal 20 this month, the passing of proposal 22 with over 1.48M+ xSNOB was a great addition to our list of successful proposals.
As of this month, the average xSNOB participation in our proposals consists of 1.88M xSNOB, or about 26.5% of all current xSNOB supply.
Wallets with 50k+ xSNOB: 22
The number of wallets capable of submitting proposals has remained steady at 22 for the last couple of months. This number almost doubled once a proposal was passed to lower the required amount of xSNOB from 100,000 to 50,000.
Forgetful SNOB Stakers: 619
This month we’ve added approximately one dozen to the list of users that have not unstaked their SNOB after their lock period has ended. This amounts to approximately 452,000 SNOB forgotten. Given that last month’s values were of 517,000 and 745,000 SNOB respectively, this is somewhat of a large improvement. The average forgotten stake is now down to 730 SNOB.
Average xSNOB Distribution: 22,557 SNOB & 1,021,872 AXIAL
Having distributed over 920,000 SNOB and 16.3M AXIAL, the average weekly distribution for xSNOB holders has approximately a 84.58% APR.
About Snowball
Snowball is a Venture DAO and an auto-compounder for liquidity rewards. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.
