- Snapshot X eliminates gas fees for DAOs using Starknet’s roll-up technology, streamlining on-chain voting.
- The platform utilizes STARK scaling and storage proofs for secure, tamper-proof voting across blockchains.
- Snapshot X simplifies voting by allowing Ethereum wallet signatures and relaying votes through Mana.
Decentralized autonomous organizations (DAOs) no longer have to pay gas fees thanks to Snapshot X, a new governance platform from Snapshot Labs. By utilizing Starknet’s roll-up technology, this new system makes on-chain voting possible without the customary financial constraints. As a result, DAOs are now able to hold inclusive and efficient governance votes.
Today marks the launch of Snapshot X, our new fully onchain voting protocol now available on the Snapshot v2 interface. It combines the security and verifiability of onchain voting & execution plus the frictionless ease & modularity that Snapshot is known for. pic.twitter.com/FtwyyXmLIW
— Snapshot (@SnapshotLabs) September 9, 2024
Notably, Snapshot X fixes persistent problems with DAO voting schemes. In the past, DAOs had to choose between expensive on-chain options and fast off-chain voting. Snapshot X provides an answer by fusing a practical strategy with the ideas of blockchain technology.
Additionally, to provide safe and impenetrable voting, the protocol makes use of storage proofs and STARK scaling. Votes are verified across blockchains using these cryptographic techniques, which eliminate the need for token transfers or gas costs.
Enhanced Accessibility and Security
Furthermore, the modular design of the new system makes voting easier as well. Votes are signed by users using Ethereum wallets, which are subsequently transmitted to the Starknet network via the Mana transaction relayer.
By using this method, users can avoid managing their Starknet accounts. To ensure accurate vote counting, the Snapshot X system also uses a unique authenticator.
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Snapshot Labs’ COO, Jeremy Musighi, emphasized the importance of this launch. Musighi highlighted Snapshot X’s ability to increase community involvement while describing it as a significant development in on-chain governance. Snapshot X seeks to promote inclusivity and engagement in decentralized decision-making processes by removing financial barriers.
Therefore, the Starknet community will hold a governance vote to commemorate Snapshot X’s launch. The new staking proposal that will be the subject of this first vote will highlight the capabilities of the system and its wider implications for decentralized governance.
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