oSnap Governance Tool Introduction | Integrating Snapshot and Multisig Wallet Safe, Automatically Executing Proposal Results

Table of Contents

Snapshot Current Issues

As the most commonly used voting governance tool for crypto protocols and DAOs, Snapshot is used to coordinate and reach governance decisions. However, Snapshot itself does not provide a method to execute proposals but relies on the governance team's multi-signature wallet.

However, this approach has some drawbacks. If external factors cause some multi-signature key holders to be unable to approve the proposal results, it will lead to a delay in the proposal's execution.

To address this issue and enable automatic execution of proposal voting results, oSnap was created.

Introduction to the Voting Result Execution Tool oSnap

oSnap is a governance tool developed jointly by the Optimistic oracle protocol UMA and the Snapshot team. By integrating with the infrastructure of Snapshot and the multi-signature wallet Safe, DAOs can automatically execute voting results through secure wallets and use incentive measures to ensure the results are automatically executed.

At the end of a proposal, there is a challenge period during which anyone can raise objections by providing collateral. UMA token holders will review who is correct and use the opposing party's collateral as a reward for the correct party.

Additionally, in case of disputed proposal results, they will not be executed and need to be resubmitted.

Low Barrier to Entry for oSnap

Before starting to use oSnap, you need to prepare Safe multi-signature wallet and Snapshot Space. However, subsequent configurations can be done on the frontend pages of Safe and Snapshot without relying on engineers, making it easy to complete.

If you are interested in using oSnap, you can refer to the official documentation, which provides detailed step-by-step tutorials.

1/ UMA and @SnapshotLabs have joined forces to create gasless voting with on-chain execution.

Introducing oSnap, a module that works with your existing @safe and Snapshot space to put more power in the community's hands 🧵https://t.co/0twXIkOmi7

— UMA (@UMAprotocol) February 16, 2023