ICON in Numbers #33 (week 15/16–2021)

Transcranial Solutions
5 min readApr 27, 2021

Welcome to ICON in Numbers, your biweekly metrics report analysing the ICON Ecosystem. We will be analysing vote status for week-15 & 16, 2021.

ICON Network for week-15 & 16, 2021

Total supply and circulation increased while staked and voted ICX decreased this term. This led to an increase in the staking reward by 1.42% points. The inflation has lowered since the reduction in i_rep, and is staying at a relatively stable level. The biweekly-averaged daily transactions have increased by more than 10%.

Biweekly Vote Change

This term’s analysis showed a large decrease in the overall votes (-8.73%). The main reason for the decrease was the launch of Balanced. Many ICONists started unstaking so that they could explore and take part in the first DeFi platform on the ICON network. We can certainly see the excitement that Balanced has brought, evidenced by the large amount of votes unstaked.

In terms of votes gained, ICONLEO was leading this week, followed by binance node and ICON 4 ALL. We also noticed large votes unstaked from ICON Asset Management and Spartan Node. These two P-Reps are reputable (top P-Reps) and provide incentives to the voters. It is plausible that these voters have the tendency to seek investment with higher yields, and Balanced might just be what they needed.

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Biweekly Voter Change

There was an increase in voters by 187 (+0.99%) this term. Sesameseed was leading this term (+845), followed by ICON 4 ALL (+825) and Atomic Wallet (+626). The first two P-Reps gained many voters because of ICONFi — Sesameseed moving from 22nd (main P-Rep) to 24th (sub P-Rep), ICON 4 ALL joining recently and in top 100. ICON Pinas lost many voters because it moved from Sub P-Rep (23rd) to Main P-Rep (18th), losing ICONFi voters. RemICX is now outside of Top 100, and lost ICONFi voters.

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Biweekly changes without ICONFi wallets

In order to capture direct support from the community, we removed potential ICONFi wallets and recalculated the votes and voters gained. We could see that ICON Pinas gained the most votes, while Atomic Wallet gained the most voters.

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Number of Wallets by Vote Size

Overall, the majority of the voters fall between 1 ICX and 100,000 ICX (96.91%), with the largest proportions seen in the 1000–10K ICX range (35.66%). Top 5% (voters with more than 100K votes) account for 66.97% of the total votes. We had 55 less wallets in the Top 5% than the previous term (-49 in 100K-1M, -6 in 1M +)

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Number of P-Reps Voted per Wallet

Wallets voting for only 1 P-Rep were still the largest (55.24% of total ICX voted), which increased by 1.28% since the last term. There was some shift in vote spreading, which was mainly driven by the end of delegation by the ICON Foundation.

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There were 25.2 M votes in the ’11 + P-Rep’ category, which decreased by ~484K votes since the previous term. Majority of this was from the 11–19 bracket, which is likely to be those that unstaked to explore Balanced platform. The highest number of P-Reps voted remained at 100. ICONFi has been very effective in spreading votes, where more than 12 M votes are allocated in the 50–59 P-Rep bracket.

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We observed an overall increase in the number of voters voting for more than 10 P-Reps since the ICONFi has been introduced. There were 195 additional voters in this category since the previous term (see above table). Nonetheless, there are many regular wallet users that are helping with vote spreading (~13 M votes). 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 remained at 63% this term. The ratio remained the same even though the amount decreased because of the unstaking.

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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:

  • Geometry Labs— 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!