Snapshot is a decentralized voting system that allows users to create proposals and vote off-chain. Snapshot allows users to choose from multiple voting systems and use ERC-20s or NFTs to calculate voting power.
Snapshot gives users the tools to customize governance for their community. Instead of using Discord reactions or Google forms, Snapshot allows users to carry out governance in an organized way. It makes governance more accessible and affordable since the data is stored off-chain.
Snapshot contains multiple spaces with each space consisting of proposals voted on by the community.
Spaces: Each space is associated with a project and can contain a list of all the proposals that can be voted on.
Proposals: Each proposal can be scheduled to be voted on by the token holders in a space. Users can describe the proposal, add options to vote on, and select the voting strategy.
Voting Type: Each voting type calculates the weight of an individual wallet differently:
Start Date and End Date: Allows users to specify when a proposal goes live and stops accepting votes. It is important to specify a window that is not too short to allow the community members to have ample time to vote.
Block Number: Gives users the ability to decide who can or can’t vote, minimizing the chance that proposals will be influenced by a recent purchase of tokens by a Whale or by spreading tokens across multiple wallets.
Notifications: Users can use the Discord, Telegram, or Email bots to notify their communities when a proposal goes live.
Snapshot allows token holders to vote without gas. The POAP Plugin allows voters to claim a POAP badge as a proof-of-vote.
An ENS name is required to use Snapshot, which may be a barrier for those who are new to web3 or those that cannot afford to purchase one.
Snapshot supports multiple chains, but each space can only be tied to one chain.
Vote as a community to agree on a voting strategy based on its values, goals and processes.
Learn how to buy an ENS domain and what else you’ll need to do to get set-up.
Discover how to link an ENS domain to Snapshot.
Help docs: https://docs.snapshot.org/