# DAO Voter Turnout Ranked by Protocol

> DAO voter turnout ranked: the share of delegated votes cast on on-chain proposals, quorum hit rate, voters per proposal and vote concentration by DAO.

Markdown copy of https://voltfincrypto.com/apps/dao-voter-turnout-ranking

**Question:** Which DAOs have the highest and lowest voter turnout?

- Kind: Table in Voltfin Strata
- Topic: [DAOs and treasuries](https://voltfincrypto.com/topics/governance)
- Chains: Multi-chain, Ethereum, Arbitrum, OP Mainnet
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Voter turnout in a DAO is the share of voting power that takes part in a vote. This table ranks DAOs by it over the on-chain proposals of the last 90 days: the median share of delegated voting power cast per proposal, how often proposals reached quorum and how many addresses voted.

Turnout is measured against delegated voting power rather than total supply, because tokens that were never delegated cannot vote in most governors. Both measures are shown, so a DAO with little delegation can be told apart from one whose delegates stay away.

Each row also shows how concentrated the votes are: the share cast by the ten largest voters. High turnout driven by a few large delegates reads differently from broad participation.

## Blueprint

One row: One row per DAO governor, over its on-chain proposals in the last 90 days

- **DAO** (`dao`): The DAO, linked to its governor contract.
- **Chain** (`chain`): The chain the governor contract lives on.
- **Proposals, 90 days** (`proposals_90d`, count): On-chain proposals whose voting closed in the last 90 days.
- **Turnout of delegated votes** (`median_turnout`): Median votes cast per proposal divided by delegated voting power at the snapshot block.
- **Turnout of supply** (`median_turnout_supply`): Median votes cast per proposal divided by total supply at the snapshot block.
- **Supply delegated** (`delegated_share`): Delegated voting power as a share of total supply at the latest snapshot block.
- **Reached quorum** (`quorum_hit_rate`): The share of the period's proposals whose counted votes met the governor's quorum.
- **Voters per proposal** (`median_voters`, count): The median number of distinct addresses voting on each proposal.
- **Top 10 voters' share** (`top10_share`): The share of votes cast by the ten largest voters, averaged over the period's proposals.
- **Receipt** (`receipt`): The proposals, snapshot blocks and reads behind the row.

## How it will be measured

- For each proposal, votes cast is the sum of VoteCast weights; delegated voting power is the total of delegate balances at the snapshot block, rebuilt from DelegateVotesChanged events.
- Turnout is votes cast divided by delegated voting power, and each DAO's figure is the median over its on-chain proposals in the last 90 days.
- Turnout of supply divides the same votes by getPastTotalSupply at the snapshot block, which includes tokens that were never delegated.
- The quorum hit rate is the share of proposals whose counted votes reached the governor's quorum() at the snapshot block, or quorumVotes() on GovernorBravo.

## Data it needs

- `governance_votes` (to build): Proposals, votes, voting power and turnout in on-chain governors, with off-chain votes recorded with their source.
- `token_holders_snapshot` (to build): Holder counts, top holders and concentration shares of registry tokens at a pinned block, with contract and exchange labels.
- Source: VoteCast weights per proposal from each governor
- Source: DelegateVotesChanged events, rebuilt into total delegated votes at each snapshot block
- Source: getPastTotalSupply at each snapshot block
- Source: Governor quorum() at each snapshot block
- Source: Distinct voters per proposal

## Questions

### What is a typical voter turnout for a DAO?

There is no single benchmark. Turnout depends on how much supply is delegated, how many proposals a DAO holds and how its quorum is set. The table shows each DAO's turnout beside its quorum hit rate, which shows whether participation is enough for its own rules.

### Why is DAO voter turnout often low?

Voting costs attention and sometimes gas, many holders keep tokens on exchanges or in DeFi where they cannot vote and small holders see little effect from their vote. Delegation was designed for this, letting active delegates vote on holders' behalf.

### What is delegated voting power?

In governors built on ERC20Votes, tokens count toward votes only after their holder delegates them, to themselves or to another address. Delegated voting power is the total assigned that way at a given block.

### Are off-chain votes counted?

No. This table covers on-chain governor votes, which can be read and receipted from the chain. Off-chain signalling votes are not recorded on a chain.

## Glossary

- **Turnout**: Votes cast on a proposal divided by the voting power that could have voted on it.
- **Quorum**: The minimum votes a proposal needs for its result to count, as the governor defines it.
- **Delegation**: Assigning a token's voting power to an address, which may be the holder's own.

## Related apps

- [DAO Governance Tracker: On-Chain Proposals and Votes](https://voltfincrypto.com/apps/dao-governance-tracker)
- [DAO Treasuries Ranked by On-Chain Holdings](https://voltfincrypto.com/apps/dao-treasuries-ranking)
- [DeFi Admin Keys: Multisig Thresholds and Timelocks](https://voltfincrypto.com/apps/defi-admin-keys-multisig-timelocks)
- [Crypto Token Buybacks Ranked by Amount Spent](https://voltfincrypto.com/apps/crypto-token-buybacks-ranking)
- [DeFi Protocol Revenue and Fees Ranking](https://voltfincrypto.com/apps/defi-protocol-revenue-ranking)
- [Token Buyback Report: Monthly Spend by Protocol](https://voltfincrypto.com/apps/token-buyback-report-monthly)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F