I’ve been reflecting on the brief discussion on DAO membership threshold from Friday’s Community Call (#5) (Jun 11th).
This is an ongoing discussion around whether or not to change the threshold from 35K to 10K (or another number) for DAO membership with solid arguments on multiple sides. I’m hoping to provide a supplementary perspective, now that we have some time series data.
While the core of the discussion is on lowering membership threshold, a related development was the 2nd airdrop which was designed to give people more opportunities to be part of Bankless DAO.
I believe the 2nd airdrop was on June 2nd, so we can examine the numbers from June 1st to present-day to see how the airdrop has affected different categories of Bank membership.
Here’s what the data suggest:
There’s been an approximate + 223 increase in addresses holding $BANK since June 1st.
There were approx 2906 addresses holding Bank on June 1st and, as of this writing, there are 3,129 addresses.
But we’ll want to see how the different Membership categories changed:
Here’s how the different membership categories have changed since June 1st:
- Whale ( > 150K Bank): approx increase + 148
- Member/Contributor ( > 35K Bank): approx decrease - 69
- 10K - 35K Holders: approx increase + 95
- 1 - 10K Holders: approx increase + 47
A question worth asking is:
Did the 2nd Airdrop is achieving its intended effects?
The data suggests it benefited existing members who were on the cusp between member & whale. Since June 1st, there are less addresses in the “member” categories and more in the “whale” category.
This is not to say the airdrop caused this. There’s could be other factors, like people selling their tokens in the open market or became a liquidity provider, but it’s worth noting.
We also have a 95 address increase in the “10K - 35K” category, but as of now, these addresses are not eligible for membership. Then there’s the 47 address increase in the “1 - 10K” categories, but it’ll take significantly more for these addresses to qualify for membership.
Hopefully this data adds to the discussion on Membership threshold and could serve as input for future considerations.
Links to Dashboards