Decentralized Governance With Snapshot
This page explains Snapshot and how it works and helps you get started.
Snapshot makes voting a breeze for DAOs, DeFi protocols, and NFT communities with no gas fees. It's highly customizable, accommodating various needs. From determining voting power to choosing mechanisms and validating proposals, Snapshot offers flexibility.
It's an off-chain, secure multi-governance tool that ensures easily verifiable and difficult-to-dispute results. Get ready for hassle-free, transparent voting with Snapshot!
- Gas-free usage: Participate in governance, create spaces and proposals, and vote without incurring gas fees.
- Verifiable votes: Cast votes using signed messages that can be easily verified online, ensuring transparency and accountability.
- Multiple voting systems: Choose from various voting systems such as Single choice, Approval voting, Quadratic voting, and more, allowing for diverse voting methods.
- Flexible voting strategies: Customize how voting power is calculated using single or combined systems, enabling voting with ERC20 tokens, NFTs, contracts, and other options.
- Proposal and voting validation: Employ validation solutions like Gitcoin Passport, POAPs, or others to verify the eligibility of individuals creating proposals or casting votes.
- Custom branding: Personalize spaces with your branding elements, color schemes, and even use a custom domain name to create a unique identity.
Snapshot operates through three main elements: spaces, proposals, and votes. Each proposal and vote is associated with a specific space, representing an organization's profile. To create a space on Snapshot, you'll need an ENS domain. This is the only requirement from Snapshot's side to establish a space. Once a space is set up, users can create proposals within that space and participate in voting. Space admins can define the rules for proposal creation and voting by configuring voting and validation strategies.
For instance, space admins can specify that only users holding a minimum of 10,000 tokens are eligible to create new proposals. Additionally, the voting power of users is determined proportionally based on the balance of the specified token in their wallet.