Governance token concentration (Gini)

Save (formerly Solend)'s assessment for RD-F-047 — scored red on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

SLND1 incident: one wallet provided 1M of 1.15M yes votes (~87%). SLND2 incident: one wallet paid ~$700K for tokens representing ~90% of votes. Team allocation 25M + investor allocation 10M = 35M of 100M total supply could dominate any vote. Functional 1-person governance demonstrated empirically in June 2022. Extremely high concentration.

Sources #

URL
Protos — Solend governance concentrationProtos — Solend DAO governance concentration; 88% of votes from one address in SLND1retrieved 2026-05-17
URL
Cryptoslate — SLND2 governance concentrationCryptoslate — $700K spent to dominate SLND2 (90% of votes from one wallet)retrieved 2026-05-17

Methodology #

Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol save factor RD-F-047 score red collected_at 2026-05-17 15:20:15