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@remkoning
Created November 19, 2021 14:23
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Code for Constitution DAO concentration of ownership graph
library(tidyverse)
# Download Constitution DAO by going to:
# https://juicebox.money/#/p/constitutiondao
# Then click on "Holders" and then in the modal click the little download
# button. It misses some transactions since balances will be inaccurate for
# users who unstaked and transferred their tokens. Given the numbers below,
# this seems like a very small problem.
# Assume a US 4000 = 1 ETH Rate.. which is close enough on 11/18/2021
cdao <- read_csv("~/Downloads/juicebox_project-36_holders.csv") %>%
mutate(
dollars = 4000*`Total ETH paid`
)
sum(cdao$dollars)
# 46,400,023 raiused. Which seems about right given they DAO raised 40m+
nrow(cdao$dollars)
# 17,454 unique wallets (~people) contributed
summary(cdao$dollars)
# Min. 1st Qu. Median Mean 3rd Qu. Max.
# 0 80 208 2,658 710 4,000,000
# cdao is sorted from largest to smallest contributor
# So we can focus on first 174 rows to see how much of the 40m comes
# from the top 1% of contributors...
sum(cdao$dollars[1:174])
# 30,898,587 which is 30,898,587/46,400,023 = 66.5% of funds
# And from the next 99% of contributors
sum(cdao$dollars[175:17454])
# 15,50,1436 which is (duh) only 33.5%!
# By comparison the top 1% of US households by income hold
# "just" 27% of US wealth.
# https://www.bloomberg.com/news/articles/2021-10-08/
# top-1-earners-hold-more-wealth-than-the-u-s-middle-class
cdao_bar <- data.frame(Contributors=c("Top 1% of contributors",
"Bottom 99% of contributors"),
`Amount` = c(30898587/1000000, 15501436/1000000))
ggplot(cdao_bar, aes(x=Contributors, y=Amount)) +
geom_bar(stat = "identity") +
ylab("Amount contributed to Constituation DAO (USD Millions)") + xlab("") +
theme_bw()
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