Snapshot
Overview
Snapshot is a decentralized voting platform used by DAOs and DeFi protocols for off-chain governance. It allows token holders to vote on proposals without paying gas fees, as votes are signed off-chain and aggregated on IPFS.
Voting Strategies
Snapshot supports multiple voting strategies, such as token-weighted voting, quadratic voting, and delegation. It is widely used because it is free, fast, and easy to set up. Projects create a space on Snapshot and configure their voting rules.
Purpose
The platform does not execute proposals on-chain; it is purely for signaling and decision-making.
Adoption
Many major protocols like Uniswap, Aave, and Balancer use Snapshot for governance. It is an essential tool for decentralized communities to coordinate and make decisions.