Snapshot

Welcome to Snapshot

Snapshot is a gasless voting platform designed for DAOs, DeFi protocols, and NFT communities to manage governance decisions effortlessly and without transaction fees. It enables users and organizations to create, vote on, and manage proposals with a high degree of customization to meet their specific needs.

Snapshot is ideal for decentralized governance because it is off-chain, ensuring that the results are easy to verify and hard to contest. It allows communities to make decisions in a transparent and efficient manner while offering complete flexibility in how votes and governance processes are structured.

Key Features

1. Free Usage

   • No gas fees to create spaces, submit proposals, or participate in voting, making it cost-effective for all users.

2. Signed Messages

   • Votes are cast using signed messages, which are easily verifiable online, ensuring transparency and trust in the voting process.

3. Multiple Voting Systems

   • Snapshot supports various voting mechanisms, including:
     • Single Choice
     • Approval Voting
     • Quadratic Voting
       This allows for the customization of the voting system to fit the needs of different communities.

4. Flexible Voting Strategies

   • Voting power can be calculated using single or combined strategies, including voting with ERC20 tokens, NFTs, or other smart contracts. This allows for a tailored governance experience.

5. Proposal and Voting Validation

   • Use solutions like Gitcoin Passport, POAPs, and others to validate eligibility for proposal creation or voting. This ensures that only qualified participants can engage in the decision-making process.

6. Custom Branding

   • Each space can be fully customized with its own branding, color scheme, and domain name, providing a personalized and cohesive experience for the community.

7. Open-Source Platform

   • Snapshot is fully open-source under the MIT license, so anyone can inspect the code, contribute, or even host their own version. The code is available on GitHub: Snapshot GitHub Repository.

How Does Snapshot Work?

The Snapshot voting process is based on three key elements:

1. Spaces:

   • A space represents the account (profile) of an organization or community on Snapshot. It requires an ENS domain for creation, which is the only setup requirement from Snapshot’s side.

2. Proposals:

   • Users can submit proposals for a space. These are the items that the community will vote on. Space admins can define the rules for proposal creation, including which tokens are required to create proposals.

3. Votes:

   • Users with the appropriate voting power can cast votes on proposals within a space. Voting power can be calculated based on factors such as the balance of tokens in the user’s wallet, NFTs they own, or other criteria defined by the space admins.

Customizable Governance

Snapshot provides a range of customizable options, such as:

• Setting requirements like a minimum token balance to create proposals or vote.
• Defining the voting power formula for each user, making governance adaptable to the specific needs of any community or DAO.

Use Case Examples:

• DAOs: Manage decentralized decision-making by creating proposals and voting on key decisions with the community.
• DeFi Protocols: Empower token holders to vote on protocol upgrades, governance decisions, and other key actions.
• NFT Communities: Allow NFT holders to vote on the direction of the community or project, such as new token launches or changes to community rules.

For more details on how to set up and customize your voting process, you can refer to the Snapshot Documentation.

Conclusion

Snapshot provides a simple, transparent, and customizable solution for decentralized governance. With no gas fees, multiple voting systems, and flexible customization options, Snapshot helps DAOs, DeFi projects, and NFT communities engage in decision-making without unnecessary complexities or costs.

Support

For assistance or inquiries, you can reach out to Snapshot at support@snapshot.org.