ICON in Numbers #28 (week 05/06–2021)

Welcome to ICON in Numbers, your biweekly metrics report analysing the ICON Ecosystem. We will be analysing vote status for week-05 & 06, 2021.

ICON Network for week-05 & 06, 2021

Total supply and circulation have increased while staked and voted ICX have decreased. This led to an increase in staking reward by 0.20% points. The inflation has lowered since the reduction in i_rep, and is staying at a relatively stable level. The biweekly-averaged daily transactions decreased since the previous term (-7.03%).

Biweekly Vote Change

This term’s analysis showed a decrease in the overall votes by 2% (-6.3M +), which was quite substantial. We have been observing more unstaking for the last 10 weeks or so, and the current votes are at the level of September 2020. While speculative, it seems likely that voters are wanting to take advantage of the current bull market and planning to take profits. On the other hand, it is also possible that some of them are unstaking to stake through ICONFi.

There have been some initiatives from ICON Foundation to get more people to stake via potential airdrops for the stakers. It seems plausible that the promotion is serving multiple purposes — to mitigate unstaking while attracting newcomers into the space, advertising for the new products that are at imminent launch, and increasing awareness and interest by the general public.

In terms of votes gained by individual P-Rep, Spartan Node was leading this term again followed by Wiz node and Metanyx. Spartan Node gained more than 9M votes which has been one of the largest amounts seen to date. Wiz node recently came online and has not yet contributed anything to the ICON ecosystem but buying votes by advertising to give away 70% of their rewards to voters. We expect to see more and more new P-Reps coming on line to offer little to nothing but reward sharing which is not positive to the ICON Network.

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Biweekly Voter Change

There was an increase in voters by 881 (+6.28%) this term. Atomic Wallet was leading this week (+726), followed by Espanicon (+625) and ICON Guide Star (+620).

Atomic Wallet is bringing new voters to the ICON ecosystem and has been winning the consecutive biweekly winning streak for the first-time voters (6 terms). Atomic Wallet gained 949 first-time voters, whereas ICON Foundation gained 512. As you might have already noticed, there is a huge uptick in the number of voters across Sub P-Reps. This is mainly because of ICONFi which will spread votes across non main P-Reps whose nodes are active.

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Number of Wallets by Vote Size

Overall, the majority of the voters fall between 1 ICX and 100,000 ICX (96.1%), with the largest proportions seen in the 1000–10,000 ICX range (39.56%). Top 5% (voters with more than 100K votes) account for 64.09% of the total votes. We had 11 less number of wallets in the Top 5% list than the previous term (9 in 100K — 1M & 2 in 1M +).

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Number of P-Reps Voted per Wallet

Wallets voting for only 1 P-Rep were still the largest (45.28% of total ICX voted), which increased slightly by 0.23%. Wallets voting for 10 P-Reps has decreased by 0.70% points. Overall, there was some shift in the vote spreading this term which was driven by the change in the delegation by the ICON Foundation.

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There were 21 M + votes in the ’11 + P-Rep’ category, which increased by 4M + votes since the previous term. The highest number of P-Reps voted remained at 100. We are currently running a promotion to help with vote spreading. Also, this will increase the awareness of the ability to vote for more than 10 P-Reps as ICONists may not be aware of this. Below table shows the summary of the participants in ‘Spread Your Votes!’ campaign. We will be tracking this data each term.

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We observed an overall increase in the number of voters voting for more than 10 P-Reps since the promotion started. This was particularly prominent since the prize amount has increased (Sponsored by ICON Foundation). There were 582 additional voters in this category since the previous term (see above table). The sudden ‘jump’ in the number of wallets spreading across 50–59 P-Rep range is due to the release of ICONFi app which stated “ICONFi provides a simple ICX staking feature where votes automatically spread out to the top 100 P-Reps outside of the top 22” (Medium article here). In the previous term, there were more in 70–79 but these have moved to 50–59 P-Reps. It is likely that previously non-active P-Reps were included in the delegation but it has been fixed since.

Detailed data of this term’s participants can be found here. We will be monitoring the behaviour of the participants for future development. Thanks to all ICONists / ICONSpartans who are making a difference in the ICON ecosystem!

Vote Stagnancy (Biweekly)

The following graph was derived by separating the wallets that changed votes (up/down) and those did not each biweek. It was apparent that the number of votes (by wallets) that were not actively participating in voting has been increasing, while the amount of active votes stayed relatively stagnant.

Biweekly vote stagnancy showed 46% this term. This was one of the lowest percentages we have seen for a long time! There are many factors that contributed to the decrease in the vote stagnancy — large amount of unstaking, shift in delegation by the ICON Foundation, Spartan Node getting more than 9M votes and ICONFi that has been actively re-staking each day.

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‘Spread Your Votes!’ lucky draw

Proposed usage of https://wheelofnames.com/ was not feasible due to a large number of entries that caused a problem with the website. Therefore, the lucky draws were conducted via random sampling in Python.

Please note that we added a ‘disqualification’ rule, as it was pointed out to be unfair and gaming the system.

Here are the winners this term. Congratulations!


This was a collaborative work between Transcranial Solutions and Espanicon. The work was inspired by several discussions on vote stagnancy and vote distribution that have arisen in different Telegram channels and the ICON Forum. We would like to thank all the P-Reps and ICONists that constantly shared their opinions and ideas about this subject as it served as an inspiration for us to give a more in-depth look at this topic.

We would like to give a special shoutout and thanks to the following teams:

  • Insight — for providing a database that we could use in this report.
  • Everstake — for their Vote Monitor website (https://iconvotemonitor.com/) to gather the data via webscraping.
  • ICON Foundation — for the icon community website (https://icon.community/) for higher statistics.
  • ICXComics — for creating our logo!


The code used for webscraping, data manipulation and calculation, analysis, and visualisation can be found on our GitHub Repository (https://github.com/Transcranial-Solutions/ICONProject/tree/master/data_analysis/03_icon_in_numbers).

Thank you for reading our “ICON in Numbers” weekly report. If you like our work and want to support us, you can do so by voting for our P-Rep teams Transcranial Solutions and Espanicon. Every vote matters to us!



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