Governance analytics
How healthy, representative and decentralized Cardano governance is right now, and how it moves per epoch. How to read this page
Read the numbers in context: Ikigai's ₳103,000 reimbursement goes unpaid for the third time, the Governance Review for epochs 656 to 659.
As of epoch 663
Chapter
The current state of DRep governance, the two default options kept apart, and how the core figures moved epoch by epoch.
Not everyone delegates to a person. These two predefined options hold real voting weight, and they are kept apart from every DRep statistic on this site. What they do
Always abstain
10,561,904,059 ₳
Always no confidence
133,886,317 ₳
Default options hold 10.7B ₳, compared with 5.3B ₳ delegated to representative DReps.
Changes are net movement per epoch. Arrivals and departures inside an epoch are not individually visible on chain aggregates, so this page never claims inflow or outflow.
Chapter
How much of the delegated power actually shows up in votes, and who takes part.
Across the last 12 decided actions, a median of 71.5% of the delegated voting power was actually represented in the vote. A median of 6 DReps was enough to cast half of the voted power.
- 64.8%
15.4% of DReps voted, 6 of 132 voters cast half of the voted power
- Withdraw 11,787,063 ada for the OpenZeppelin Stack administered by IntersectTreasury WithdrawalsEpoch 66162.3%
14.9% of DReps voted, 5 of 129 voters cast half of the voted power
- 70.0%
16.7% of DReps voted, 7 of 144 voters cast half of the voted power
- 70.8%
16.3% of DReps voted, 6 of 143 voters cast half of the voted power
- 63.7%
14.9% of DReps voted, 6 of 131 voters cast half of the voted power
- 71.2%
21.1% of DReps voted, 6 of 186 voters cast half of the voted power
Showing the six most recent decided actions. View all governance actions
Denominator: the delegated voting power in each action's decision epoch, the predefined default options excluded. Concentration reads use the voting power each DRep voted with and appear only when it is recorded for every vote.
Registration state
- Active registrations: 296
- Inactive or retired: 799
293 of the active registrations hold delegated power
Voting history
- Ever voted on chain: 678
- Never voted: 417
Stake still delegated to inactive DReps: 188,842,076 ₳, spread over 556 of them. The ten largest hold 56.1% of it.
Definitions: active registrations follow the on-chain registration state, voted counts any on-chain vote including later-changed ones, counts are live as of the latest sync.
Across 153 decided actions the committee could vote on, a median of 100.0% of its members cast a vote. 32 actions saw a split committee. 16 of 118 finished below the committee's approval threshold.
Committee votes came a median of 21.2 days after an action was submitted.
Highest participation
- Ace Alliancesince epoch 582
- Cardano Atlantic Councilepochs 507 to 596
- Cardano Japan Councilepochs 582 to 653
- Intersect Constitutional Councilepochs 507 to 580
- Tingvardsince epoch 581
Lowest participation
- Leandros BSPsince epoch 654
- Pitkindsince epoch 654
- Cardano Curiasince epoch 602
- Phil_uplcsince epoch 586
- Cardano Japan Council (ICC)epochs 508 to 580
Each square is one decided action from the oldest to the newest, filled when the member voted, outlined when eligible without a vote, faded outside the member's eligibility window.
A term ending in epoch 580 belongs to the interim committee, which the elected committee replaced in epoch 581. 2 of its members appear again on the committee that followed, listed once with a tenure spanning the change.
Eligibility follows the committee membership at each action's tally epoch, and only a member's final vote counts. The threshold reading covers 118 actions with a frozen committee threshold.
SPOs vote on 8 of the decided actions (hard forks, motions of no confidence, committee changes and security-relevant parameter changes).
36.4%
Median SPO turnout
power-weighted, over 8 actions
60.0%
Among pools without a default stance
the same votes over the pools that could still take a position, 8 actions
46.4%
Pool stake on a default stance
pre-set to always abstain or no confidence, as of the action decided in epoch 654
1 of 8
Verdicts differing from DReps
actions where the two bodies reached different verdicts against their own thresholds
Where the two verdicts differed
- Reduce minPoolCost to 75 ada and increase Plutus Memory Limits (Part 2)Parameter ChangeSPO tally below its threshold
Every action SPOs voted on
- Update Constitutional Committee 2026New CommitteeEpoch 65431.3% turnout, 58.4% without default stances
- Reduce minPoolCost to 75 ada and increase Plutus Memory Limits (Part 2)Parameter ChangeEpoch 65325.9% turnout, 48.8% without default stances
- Hard Fork to Protocol Version 11 ('van Rossem' Hard Fork)Hard Fork InitiationEpoch 64456.3% turnout, 71.1% without default stances
- Increase Transaction and Block Memory Units (Part 1 of 2)Parameter ChangeEpoch 61448.4% turnout, 67.4% without default stances
- Add Constitutional Committee Member - ChristinaNew CommitteeEpoch 60710.9% turnout, 20.7% without default stances
- Add Constitutional Committee MemberNew CommitteeEpoch 60229.7% turnout, 51.9% without default stances
- Replace Interim Constitutional CommitteeNew CommitteeEpoch 58141.6% turnout, 61.6% without default stances
- Hard Fork to Protocol Version 10 ("Plomin" Hard Fork)Hard Fork InitiationEpoch 53766.6% turnout, 69.3% without default stances
Turnout weighs each pool's stake against the pools that could vote, the always-abstain pools included and the No side as the ledger counts it. A pool is on a default stance when its reward account delegates to always abstain or always no confidence, so its stake is counted without a vote of its own. The second reading leaves that stake out of the denominator.
Chapter
What DReps do beyond the vote itself: reconsidering positions and publishing rationales.
Across 158 decided actions, 131 saw at least one DRep change their position. 563 votes changed position in total, while 582 re-votes kept the voter's position.
Most reconsidered actions
- 5am.earth Trust Layer Targeting Vision 2030 KPIs
- Withdraw ₳605,000 for A free Native Asset CDN for Cardano Developers
- Cardano Vision 2026: Human Centred, Scalable, Post Quantum Secure - IO Research
- 2025 Net Change Limit
- Blockfrost's transformation to not-for-profit
Counts cover decided actions with a fully swept vote history and compare each voter's first recorded vote with the final one. 66 re-votes whose final vote is not on record are left out.
36.0%
Votes with a rationale link
10,175 of 28,284 votes
61.8%
Voting power with a rationale link
weighted by the voting power behind each vote
176 rationales arrived later through a re-vote.
- New Constitution39.2% median, 4 actions
- Info Action37.1% median, 35 actions
- New Committee36.8% median, 4 actions
- Treasury Withdrawals36.0% median, 104 actions
- Parameter Change34.5% median, 7 actions
- Hard Fork Initiation26.3% median, 1 action
Best covered
Least covered
- Rename the Chang 2 Hard Fork to the Plomin Hard Fork12.7% of 181
- InfoAction14.4% of 104
- Should K increased?17.9% of 134
Coverage counts the rationale link attached to the vote on chain. A linked document is not always retrievable, so an action can read higher here than the readable rationales on its own page. Coverage measures presence, not quality. The power-weighted figure leaves out 39 actions with incomplete per-vote power.
Every vote counts once here, whatever voting power stands behind it. Timing describes when votes arrive, not how carefully they were cast.
Day 12.7
Median DRep vote
after submission, over 28,075 timed votes on decided actions
Day 18.6
Median SPO vote
after submission, over 4,212 timed votes on decided actions
Day 12.9
Half of an action's DRep votes cast
median across 154 decided actions
| Type | Median DRep day | Timed DRep votes | Median SPO day |
|---|---|---|---|
| Treasury Withdrawals | 12.9 | 18,415 | n/a |
| Info Action | 12.1 | 6,541 | 13.9 |
| Parameter Change | 12.5 | 1,195 | 26.8 |
| New Constitution | 12.8 | 952 | n/a |
| New Committee | 8.0 | 782 | 18.9 |
| Hard Fork Initiation | 7.1 | 190 | 16.9 |
A vote is timed when both the action's submission and the vote's block time are on record, and days are counted from submission. Only decided actions are counted, an open action would only show its early votes so far. The thirds split each action's own voting window into three equal parts, so a long-running action and a short one are read on the same scale. A DRep who changed a vote is timed at the final vote. Types with fewer than 20 timed DRep votes are left out of the table, and a median SPO day needs 20 timed SPO votes of its own, otherwise the cell shows n/a.
Chapter
How concentrated delegated voting power is, today and over time.
Voting power concentration
Top 19 DReps hold 67% of active DRep voting power. Total 5,151,879,775 ₳ across 296 DReps.
67% is the passing threshold for Treasury withdrawal and some network parameters.
Thresholds as of 2026-10-21.
Top 12 by share
- YUTA9.3%
- Yoroi W₳llet7.8%
- Blockdaemon6.8%
- EMURGO5.8%
- CryptoCrow5.6%
- Eternl DRep Committee4.2%
- Everstake4.1%
- Sebastien Guillemot セバ3.5%
- Cardano Foundation2.7%
- SASA_nagamaru_ながまる2.5%
- ranket2.2%
- CardanoYoda (MANDA Pool)1.8%
How few of the largest DReps currently hold each threshold share.
- 14 DReps60%Hard fork, Committee (no confidence)
- 19 DReps67%Treasury withdrawal, No confidence, Committee (normal state), Protocol params (network), Protocol params (economic), Protocol params (technical)
- 25 DReps75%Constitution update, Protocol params (governance)
Based on the current delegated voting power, not actual coordination. Thresholds as of 2026-10-21, stake as of the latest sync.
Chapter
What happens to governance actions: how many arrive, how they conclude, and how long a decision takes.
6
Submitted, last 12 epochs
81
Enacted
all-time
41
Expired
all-time
35
Closed without enactment
all-time
Decisions took a median of 7 epochs from submission, across 157 decided actions.
| Type | Decided | Enacted | Expired | Closed | Median epochs |
|---|---|---|---|---|---|
| Treasury Withdrawals | 104 | 70 | 34 | 0 | 7 |
| Info Action | 35 | 0 | 0 | 35 | 7 |
| Parameter Change | 8 | 4 | 4 | 0 | 7 |
| New Committee | 4 | 3 | 1 | 0 | 7.5 |
| New Constitution | 4 | 2 | 2 | 0 | 7 |
| Hard Fork Initiation | 2 | 2 | 0 | 0 | fewer than 3 |
Dropped without a decision
A dropped action left the proposal set before its voting window ended, so it never reached a verdict of its own. What the statuses mean
- Reduce minimum Constitutional Committee size (committeeMinSize) from 7 to 5
Superseded by Increase Transaction and Block Memory Units (Part 1 of 2), enacted in epoch 614. Both actions extended the same predecessor, so enacting one left the other no path to enactment.
Closed is the outcome of info actions, which conclude without enactment. Timing is counted in epochs because decisions are recorded per epoch. 3 actions are still open.
The trend charts on this page draw data from epoch 508 on, the first epoch these metrics can be measured reliably. A chart whose series begins later states its own start. Why charts start where they start