Comparing Vote Markets on Binance Smart Chain and Ethereum

November 2021

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An analysis by @LIzzl Datadeo#8507. For original analytics see this pdf file.

Original graphs can be seen here.

Raw data: github.com.

This report analyses the information that was compiled from those votes and compares them with the data of 30 rounds of voting on Ethereum.

The main questions answered are:

• How did users interact with the platform?

• How did voters apply Quadratic Voting?

• What makes a user a successful predictor?

• What is the predictive power of markets.vote?

What is Quadratic Voting?

That’s a voting strategy that helps balance the voting power of big players and small ones. The idea standing behind QV mechanism is to make each additional vote cost a lot more than the previous one.

It’s worth to remember that in QV participants vote for or against an issue, but also express how strongly they feel about it.

The table down below depicts how cost in tokens depends on the number of votes:

Number of votes	Cost in Tokens
1	1
2	4
3	9
4	16
5	25
6	36
7	49
8	64
9	81
10	100

More on quadratic voting: click here or here.

How does the markets.vote work?

Users are incentivized to make market predictions in a series of tournaments focussed on a basket of crypto assets.

Quadratic voting is used to generate a consensus in a perceived future market order. Users get a default voting power of 100$V. They then spend a budget of voting power to create a new order, based on their perception of token quality and future potential market performance.

Users are rewarded with a proportional share of a network-generated reward pool depending on the proportionality of their correctness.

Users can amplify their voting power beyond the starting level by demonstrating a history of correct decision-making in the markets, or by purchasing more identities.

More on markets.vote in the whitepaper. Check out also markets.vote app.

Voter Activity

Chain	BSC	ETH
Total voters	151	248
Total votes	7994	840
Total voterIDs	654	318
Average votes per round	265	28
Average user would mint	4 voterIDs	2 voterIDs

For up to date statistics visit Lizzl page on Dune Analytics.

Adoption Curve

ETH

BSC

Voter Turnout

ETH

BSC

VoterIDs per Wallet

ETH

BSC

Distribution of Voting Power and VoterIDs

ETH

BSC

How did voters apply QV?

ETH

On average, voters used 58% of their voting power per vote on ETH.

100, 200 & 99 were the three most used amounts of voting power.

On average, voters made 2 choices per vote on ETH: With 10, 1, 2 being the most used coin choices.

BSC

On average, voters used 40% of their voting power per vote on BSC.

100, 99 & 97 were the three most used amounts of voting power.

On average, voters made 10 choices per vote on BSC, choosing all ten coins in one vote.

Coin clairvoyants

Top 3 wallets with most Voting Power on BSC chain
Address	0x34…39EA	0xE3…D58f	0x8E…734b
Voting Power	45 515	36 498	30 994
# of voterID	50	32	27
# of rounds participated	30	28	26
% of voting power used	36.9%	33.3%	29.9%
AVG # of choices	9.6	9.6	9.8
3 most weight combination used	[3,3,4,1,4,4,2,2,3,4]	[3,3,3,2,4,3,3,3,3,4]	[5,5,5,5,5,5,3,4,3,4]
	[7,7,7,8,8,6,5,6,7]	[4,3,3,2,3,3,3,3,4,3]	[10,8,10,7,10,10,8,8,8,8]
	[9,9,9,9,9,9,3,9,9]	[4,4,5,5,4,4,3,6,5,4]	[4,4,4,5,4,4,3,3,3,3]

Top 3 wallets with most Voting Power on ETH chain
Address	0x34…39EA	0x6e…dDec	0x67…e640
Voting Power	5400	4406	3501
# of voterID	50	5	15
# of rounds participated	3	26	16
% of voting power used	95.9%	45.9%	61.3%
AVG # of choices	4.1	3.7	9.9
3 most weight combination used	[5,5,5,5]	[10,10]	[4,4,5,4,4,4,4,4,4,4]
	[5,5,5,5,5]	[12,12]	[4,4,4,4,4,4,4,4,4,4]
		[10]	[3,3,4,3,3,3,3,3,3,3]

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Top 3 Voting Power Earners on BSC
Address	0x34…39EA	0xE3…D58f	0x8E…734b
Bought Voting Power	5000	3200	2700
Earned Voting Power	40 515	33 298	28 294
% Increase	8.1%	10.4%	10.4%

On BSC the Top 3 Earners are the same wallets with most Voting Power
# of rounds participated	30	28	26
% of voting power used	36.9%	33.3%	29.9%
AVG # of choices	9.6	9.6	9.8
3 most weight combination used	[3,3,4,1,4,4,2,2,3,4]	[3,3,3,2,4,3,3,3,3,4]	[5,5,5,5,5,5,3,4,3,4]
	[7,7,7,8,8,6,5,6,7]	[4,3,3,2,3,3,3,3,4,3]	[10,8,10,7,10,10,8,8,8,8]
	[9,9,9,9,9,9,3,9,9]	[4,4,5,5,4,4,3,6,5,4]	[4,4,4,5,4,4,3,3,3,3]

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Top 3 Voting Power Earners on ETH
Address	0x6e…dDec	0xDc…CA7D	0xB3…6B7C
Bought Voting Power	500	200	100
Earned Voting Power	3906	1074	469
% Increase	781.2%	537%	375%

How did the most successful voters used the vote markets?
# of rounds participated	26	25	20
% of voting power used	45.9%	47.5%	45.3%
AVG # of choices	3.7	5.8	9.7
3 most weight combination used	[10,10]	[5,5,5,5]	[EACH VOTE A DIFFERENT COMBINATION]
	[12,12]	[+48 DIFFERENT COMBINATIONS]
	[10]

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Top 3 VoterIDs BSC
VoterID	54	61	121
Voting Power	3475	2903	2628

How did the most successful VoterIDs used the vote markets?
# of rounds participated	25	22	27
% of voting power used	21.5%	20.6%	26.9%
AVG # of choices	4.3	4	9.3
3 most weight combination used	[EACH VOTE A DIFFERENT COMBINATION]	[EACH VOTE A DIFFERENT COMBINATION]	[EACH VOTE A DIFFERENT COMBINATION]

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Top 3 VoterIDs ETH
VoterID	195	1	197
Voting Power	2021	1226	1056

How did the most successful VoterIDs used the vote markets?
# of rounds participated	23	27	23
% of voting power used	39%	28.4%	42.7%
AVG # of choices	3.6	7.6	3.6
3 most weight combination used	[EACH VOTE A DIFFERENT COMBINATION]	[EACH VOTE A DIFFERENT COMBINATION]	[EACH VOTE A DIFFERENT COMBINATION]

Market predictions

21 out of 30 coins were predicted successfully on BSC.

Successful predictions were made in all rounds but 3,5,6,10,12,14,16,23,29.

BUSD was the token that was predicted most successfully.

6 out of 30 coins were predicted successfully on ETH.

Successful predictions were made in rounds 3,7,12,14,24,28.

There was no particular coin that was predicted more successfully than others.

BSC

ETH