We are pleased to present the ArbitrumDAO Governance Analytics Report for February 2025, providing key insights into governance participation, voting trends, and proposal outcomes. This report underscores our ongoing commitment to transparency and data-driven decision-making within the ArbitrumDAO community.
Governance Participation Trends
Participation in both on-chain and off-chain governance experienced a modest decline in February 2025. On-chain participation dropped by 2.41 percentage points, while off-chain participation decreased by 1.01 percentage points. Despite this, unique voter engagement increased, with on-chain voters rising from 5,788 in January to 6,191 in February, and off-chain voters growing from 5,526 to 5,908.
Voting Power Dynamics
While off-chain voting power saw a slight increase of 0.71%, reaching 155.3 million ARB, on-chain voting power declined by 5.74%, from 210.7 million ARB to 198.6 million. The number of new voters also saw a dip compared to January, with 548 new on-chain voters and 103 new off-chain voters participating.
Factors Influencing Participation Decline
Two key factors contributed to the dip in engagement:
- ETHDenver: The event led to lower participation among active delegates.
- Bybit Hack: Technical issues affected Safe Wallet users, limiting their ability to vote.
Voting Power Shifts
Among the 42 key delegates analyzed, significant changes were observed:
- Increases: GMX rose from 2.9K ARB to 8M ARB, emerging as a top 20 delegate yet to participate in voting. Entropy expanded its voting power from 5.6M to 8.8M ARB, while Castlecapital.eth grew from 122K to 566K ARB.
- Decreases: A collective decline of 18.69M ARB was observed among 30 delegates, with three delegates losing their entire holdings.
Delegate Status Changes
- Active Delegates increased from 84 in January to 91 in February, indicating higher involvement.
- Inactive Delegates slightly decreased from 125 to 123.
- Ghost Delegates (those with voting power but no participation) dropped from 791 to 787, suggesting a positive trend in engagement.
Proposal Outcomes
In February, eight proposals were reviewed:
- Approved Proposals: STEP 2.0, DAO Grant Program Season 3, Audit Program, ArbOS Callisto, and Nova Fee Sweep Action received strong support.
- Rejected Proposal: The “Arbitrum Growth Circles Event Proposal” was declined due to concerns over operational execution.
- Low Participation: Most proposals experienced voter turnout below category averages, underscoring the need for improved engagement.
Voting Power Redistribution
ARB votable supply declined from 330.608M in January to 323.271M in February. The distribution of voting power among key groups saw subtle shifts:
- The top 1–10 voters lost 5.7% of their power, now holding 39.6% of total voting power.
- The top 11–50 voters increased their share by 1.0%, reaching 48.7%.
- The top 51–200 voters experienced a 1.4% decline, now holding 9.1%.
- Smaller voter groups saw slight increases, with the top 201–500 and 501–1000 groups growing by 2.2% and 3.1%, respectively.
Conclusion
Despite a minor decline in participation, February 2025 saw an increase in active delegates, signaling a long-term strengthening of ArbitrumDAO’s governance. The redistribution of voting power and the rise of new influential delegates point to a more engaged and decentralized governance model.
For the full report, visit: Curia Arbitrum Governance Analytics Report #4: Feb 2025.
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