Governance token concentration (Gini)

Frax Finance's assessment for RD-F-047 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

veFXS distribution: core team reportedly holds a large veFXS block. No Gini coefficient calculation performed. Frax team concentration sufficient to potentially pass Omega short-circuit proposals (>51%) or influence quorum outcomes. Community veFXS is also significant. Concentration risk elevated relative to truly decentralized protocols.

Sources #

URL
Risk Assessment: Frax Governance | Blockworks ResearchBlockworks research: team signers hold veFXS positions; community governance has meaningful but not dominant participationretrieved 2026-05-17
Docs
How It Works | Frax FinanceFrax governance docs: short circuit if >51% of total veFXS voting power; team retains significant veFXSretrieved 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 frax factor RD-F-047 score yellow collected_at 2026-05-16 20:44:31