Snapshot X: Starknet Launches Gasless Onchain Voting Protocol to Transform DAOs

Starknet, a prominent player in the blockchain space, has launched a groundbreaking governance protocol, known as Snapshot X, that aims to change the face of decentralized autonomous organizations (DAOs) by enabling gasless onchain voting.

Starknet, a prominent blockchain technology company, has officially launched its new onchain governance protocol, Snapshot X, on Monday, September 9. This groundbreaking protocol will enable decentralized autonomous organizations (DAOs) to conduct gasless onchain votes, revolutionizing the efficiency and cost-effectiveness of DAO governance.

Starknet's Snapshot X protocol is now live, enabling gasless onchain voting. This marks a significant step toward making onchain governance more accessible and efficient.

Starknet's Snapshot X protocol is a state-of-the-art governance solution that leverages Starknet's rollup technology. It allows DAOs to conduct onchain votes without incurring gas fees, making it possible for all participants to vote without hindrance. This protocol is designed to be modular, enabling customizable, trustless, and decentralized voting.

Traditional onchain voting methods often encounter high gas fees and inefficiencies, posing challenges for many DAOs. For instance, to participate in onchain voting, users typically have to pay over $10 just to cast their vote, a cost that can deter participation.

As noted by Eli Ben-Sasson, CEO of StarkWare, “Sometimes, people have been expected to pay 10-plus dollars just to vote – a real democracy turn-off.” However, Snapshot X offers DAO communities a familiar gasless voting and proposing experience, while adding on the security guarantees that ensure the preservation of Web3's core principles: resilience, censorship resistance, and immutability.

Starknet's Snapshot X protocol utilizes storage proofs, a cryptographic feature that allows users to prove ownership of assets on one blockchain without moving them. This not only reduces costs but also enhances security.

Most DAOs currently use Snapshot as their main voting tool, while those requiring onchain voting use it for preliminary votes. Snapshot X now allows DAOs to run both offchain & onchain votes in one interface, simplifying & streamlining governance.

The first vote using Snapshot X will take place from September 10 to 13, 2024. The Starknet community will vote on a staking proposal that will impact native Starknet (STRK) token holders.

This vote will determine the new token distribution, creation, and allowance of minting modifications over time to ensure sustainability and balance. The voting process will be facilitated through a custom interface built on Snapshot X, while the Starknet Governance Hub will oversee the vote.

Board member at Starknet Foundation and CEO of StarkWare Eli Ben-Sasson expressed his excitement about the new protocol, stating that “This will allow many DAOs and other entities to follow suit,” and adding, “Those with voting rights with DAOs that currently vote onchain need never again be expected to pay gas fees to vote, which has been a very real phenomenon. Sometimes, people have been expected to pay 10-plus dollars just to vote — a real democracy turn-off.”

The Starknet community has also shown enthusiasm, with many members eagerly anticipating a more efficient and cost-effective voting process.