Voting Power Metrics

This section analyzes the concentration of voting power among delegates. It provides insights into the distribution of governance power, highlighting metrics such as the distinction between Small and Large holders, the distribution of voting power, and levels of decentralization.

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Delegated Small Holder Address:

This represents wallet addresses belonging to delegators who hold less than 0.1% of the total votable supply. The percentage show the ratio of delegated small holders to all small holders.

Delegated Large Holder Address:

This represents wallet addresses belonging to delegators who hold less than 0.1% of the total votable supply. The percentage show the ratio of delegated large holders to all large holders.

Small vs Large Voting Power Ratio:

The ratio of votable supply held by large holders (wallets with equal to or more than 0.1% of the total votable supply) to small holders (wallets with less than 0.1% of the total votable supply).

Delegate Quorum Gauge & Nakamoto Coefficient:

Delegate Nakamoto Coefficient: Number of top delegates required to achieve 50% of votable supply*, indicating decentralization levels.

Treasury Quorum: Number of top delegates required to achieve 3% of votable $ARB* tokens for Treasury governance proposals to be valid, ensuring sufficient community involvement.

Core Quorum: Number of top delegates required to achieve 5% of votable $ARB* tokens for Core governance proposals to be valid, ensuring sufficient community involvement.

**Votable $ARB tokens: All $ARB tokens in existence except for:

• tokens owned by the Arbitrum DAO

• tokens owned by The Arbitrum Foundation

**Votable supply: referring to all ARB tokens currently delegated. This delegated portion represents the active segment of the total token supply that can participate in governance voting.

Delegates Categorized by Source of Voting Power:

Single-Holder Delegate (via Self-Delegation): Delegates with >= 50% voting power through self-delegation.

Single-Holder Delegate (via Other Address): Delegates receiving >= 50% of voting power through a single other address.

Community Delegate: Delegates with voting power distributed such that no single source accounts for >= 50%.

Voting Power Distribution:

Breakdown of voting power held within the top 1, 5, 10, 25, 50, 100, and 200 delegates.