Cardano Governance Inter-Branch Centralization Update (09NOV2024)

November 9, 2024

Top 72 DReps:

Of the top 72 DReps, 42 are Multi-Branch DReps: SPO-DReps (38), CC-DReps (1), and CC-SPO-DReps (3). This is +1 SPO-DRep from October 9th, and +7 SPO-DReps from September 9th.

Together, these 42 Multi-Branch DReps represent 37.2% of Total Voting Stake. This is -2.8 percentage points from October 9th, and +7.2 percentage points from September 9th.

Total Voting Stake, Pre-Defined Voting Options:

Of the current ₳1,570,400,000 in Total Voting Stake, 31.98% is delegated to Drep_always_abstain and 2.08% is delegated to Drep_always_no_confidence. Compared with October 9th, voting stake increased ₳833,580,000, always_abstain increased +3.98 percentage points, and always_no_confidence increased +1.08 percentage points.

Discretionary Voting Power (Total Voting Stake - Always Abstain - Always No Confidence):

Excluding Drep_always_abstain and Drep_always_no_confidence stake, a total of ₳1,035,510,000 in Discretionary Voting Power is currently delegated to 528 DReps. 90.17% of that Discretionary Voting Power is delegated to the top 72 DReps, of which 56.42% is represented by 42 Multi-Branch DReps. On October 9th, ₳523,930,000 in Discretionary Voting Power was delegated to 456 DReps. 92% of that Discretionary Voting Power was delegated to the top 72 DReps, of which 57% was represented by those 41 Multi-Branch DReps.

Diagrams:

1.) Current Top 72 DReps

2.) Current Total Voting Stake

3.) Current Total Voting Power (A made up term for Total Voting Stake - Always Abstain). Per CIP-1694, “The effect of delegating to Abstain on chain is that the delegated stake will not be considered to be a part of the active voting stake.”

4.) Current Discretionary Voting Power (A made up term for Total Voting Stake - Always Abstain - Always No Confidence). Per CIP-1694, “If an Ada holder delegates to No Confidence, then their stake is counted as a Yes vote on every No Confidence action and a No vote on every other action. The delegated stake will be considered part of the active voting stake.”

As a newer Cardano Forum user, I can’t embedded the 4 diagrams in this post. Please view them here:

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