Hi all – thanks for your patience here.
Reflecting on the efficacy of the program, we are grateful for the Aave community’s willingness to experiment and try new tools, solutions, and approaches for Governance.
This trail seemed to inspire others – with @BristolBlockchain sharing it to dYdX.
We’ve used our off-chain Snapshot data to analyze general participation statistics.
March – May 2023 (Disabled):
- 879.9k total votes
- 32.6k total unique voters
- 65 total proposals
The ratio of YAE: NAE votes for this period is 73%
May 2023 – July 2023 (Enabled):
- 119k total votes
- 14.2k total unique voters
- 59 total proposals
The ratio of YAE: NAE votes for this period is 85.4%
You may find the query here for more Snapshot data and analysis.
At a quick look, these numbers suggest there is more general participation without private voting. For next steps we will analyze the size of voters and how these stats compare to a similar period last year.
It is clear in both instances minute voters are polluting Snapshot in an attempt to airdrop farm.
I will share some reflections from a perspective of a contributor which we expressed in the dYdX post; some thoughts so far from the implementation in Aave:
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it forces you to form and define a clear opinion, not just defer to the largest / most passionate voter. This may be especially true for risk votes due to their frequency and quantitate manner
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it is more difficult to anticipate the outcome and initiate the next steps; i.e you must wait til the Snapshot vote has concluded to understand the results and begin the next steps
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it’s pretty easy to turn on (and off) and creates a new, less familiar UX for Snapshot users
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it requires a bit more active management of the Snapshot space in general, re-awaking admins and toggling features such as visualizing the quorum
This UX is worth noting while evaluating its future role (or lack thereof) in Aave.