It’s been fascinating to watch the Binance vote unfold. Don’t worry, this isn’t a “someone cheated” post – I’m sure Binance will sort through all of the data and weed out bots and farms and come up with the right conclusion. This post is more about crunching a little data and looking at results.
Looking at data is always fascinating, especially when combined with other data.
Note that as of this writing, the vote is not complete, so this is being written with data that may change. With this said, let’s start with a snapshot of the vote from Binance’s website :
Pretty straightforward, putting the bot issue aside. Here’s the data in tabular form:
Yes of course we wish Bitquence had more votes, but we are also incredibly proud of the fact that we got that many votes for a coin that’s relatively new, especially against some mega-coins in the market.
Here’s the same data in pie-chart form :
Now, let’s look at the market cap of the coins (I’ve not included any coins that I couldn’t find market cap data for) in $M, eg Waves is $530M.
And now, let’s look at the RATIO of votes to market cap. That opens up something interesting.
Again, not exactly sure what that means. We discouraged our community from bot or farm voting, so hopefully most of the Bitquence votes are legit. On some level, this ratio is an indicator of community interest and engagement and how much they want to see the coin up there.
Let’s call it the “community passion” ratio – eg, how engaged is the community relative to the amount of people in it. This isn’t meant to be a dig at anyone. We know first hand community building is intensive work, and gets harder the more people are in it. But it does show us that we have a community that is really behind us, which is great to see (I can only imagine what SONM is like – going to check out their social channels after this)
So we are incredibly proud of our community’s level of appreciation, and humbled to be included with such great names above. And we will do our best to keep our community as engaged and motivated.
And thanks Binance for the glorious fun