Snapshot X: A New On-Chain Voting Protocol From Snapshot Promises to Slash Costs 10-50x

Leveraging technological innovations from Ethereum Layer 2 developer StarkWare, Snapshot, the leading off-chain voting platform used by most DAOs, now claims to have cracked the on-chain governance puzzle.

Snapshot has officially launched Snapshot X, an on-chain voting protocol on Starknet. The protocol combines the verifiability and security of on-chain voting with the minimal fees, modularity, and ease of use of Snapshot's off-chain platform.

Snapshot X is accessible via any preferred EVM wallet, and DAOs can customize the platform to suit their voting, proposal validation, and execution strategies. The protocol also enables voting with various token standards, including NFTs, and unlocks gasless voting.

At the heart of Snapshot X's functionalities are storage proofs, which allow users to prove they have assets across several blockchains. This feature enables users to prove their asset holdings on Layer 1 for voting without bridging the assets to Layer 2, significantly reducing computation costs.

Snapshot X also uses a meta-transaction relayer called Mana, which allows users to vote with message signatures on Ethereum. These signatures are then broadcast to Starknet without users having to create new wallets.

Some DAOs previously used Snapshot only for temperature check votes and integrated other solutions for on-chain voting. With Snapshot X, Snapshot has now become “an all-in-one solution for voting and execution,” which will simplify governance processes.

The protocol will be available not only to DAOs on Ethereum and Starknet but also to all EVM chains, including Optimism, Polygon, and Arbitrum.

Snapshot X will power its first on-chain vote this week as Starknet plans to use the protocol to let users decide the minting mechanism for STRK tokens as part of plans to introduce staking. The vote will take place from September 10 to September 13.

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