Snapshot Labs Releases Snapshot X, a Layer-2 Governance System Utilizing Starknet Integration

Snapshot Labs, the developer of an off-chain voting technology utilized by 96% of decentralized autonomous organizations (DAOs), has released Snapshot X.

Snapshot Labs, the company behind the off-chain voting technology used by 96% of decentralized autonomous organizations (DAOs), has announced the launch of Snapshot X, a new Ethereum layer-2 governance system that features blockchain-based voting.

Snapshot X integrates Starknet technology to leverage storage proofs and enable gas-free voting. These storage proofs allow users to authenticate the existence of assets on a single blockchain without relying on third-party intermediaries. This capability enables Snapshot X users to vote using assets from one chain while performing governance on another, eliminating the need to move tokens or pay gas fees.

"By mathematically verifying data across chains, storage proofs eliminate the need for third-party intermediaries, making the process more secure and cost-efficient," the company stated in a press release.

Starknet Integration Enhances DAO Governance

Snapshot X utilizes Starknet technology and storage proofs to provide gasless voting. This unique approach enables users to establish asset ownership on one blockchain while retaining assets on another, reducing costs and enhancing security. The protocol's modular design facilitates flexible, trustless, and decentralized voting processes.

Highlighting the importance of this advancement, Snapshot Labs' COO, Jeremy Musighi, said, "DAOs can now offer free on-chain voting, fostering inclusivity and more active decision-making." The platform employs StarkWare's STARK scaling and storage proofs, ensuring safe, multi-chain voting without requiring token transfers. This new voting technique aims to improve speed, security, and involvement in DAO governance, especially for prominent DeFi projects like Lido and Aave.

The system utilizes storage proofs to validate users' token holdings during voting without moving tokens. Mana, a transaction relayer, simplifies the process further by enabling users to vote using their Ethereum wallet, making participation easier than ever before.

Starknet Community to Utilize Snapshot X for First Gas-Free Vote on Staking Proposal

Beginning September 10, the Starknet community will be the first to utilize Snapshot X to conduct a gas-free vote on a critical staking proposal that will impact native STRK token holders. The vote will determine the minting procedure for Starknet staking, and it is scheduled to conclude on September 13.

Snapshot X's introduction on Starknet coincides with the network's recent upgrade to parallel execution, aiming to enhance transaction processing efficiency and create an industry standard.

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