Snapshot X Preview, Snapshot election of the next two stages

On January 18, 2022, Snapshot announced plans to release Snapshot X in the second quarter of 2022. Snapshot X, formerly known as StarkVote, was developed by Snapshot in conjunction with the StarkWare team. . This solution will improve Snapshot in several ways.

What is Snapshot X?

Snapshot X is a StarkNet-based option, the two-tier ZK-Rollup. This allows any DAO to control Layer 2 chains and operate on Ethereum. This provides security similar to Layer 1 user options at a lower cost.

Snapshot estimated that voting for Snapshot X is around 50-100 times cheaper than 1,000 Fuel or Ethereum.

An important update in Snapshot X is to verify the archive of the archive. This approach has failed in the past due to the high cost of Ethereum. However, the recent emergence of L2 technologies such as StarkNet could reduce the cost of metering in the chain. This makes storage proof information effective when managing all Ethereum security and deployment.

Some of the benefits of Snapshot X

Incredulity

Snapshot X allows DAOs to mine the chain in a totally amazing way without relying on human or oracle insights. All vote counting was done on StarkNet, after which Ethereum managed to complete the process.

Unauthorized and censored resistance

The venue, recommendations and votes were announced along with the review channel on StarkNet. The framework is completely unauthorized and anyone can interfere with it on the chain without going through the user's snapshot.

No need for expensive labs

Most token contracts that now use chain management require the use of additional features to store checkpoints which increase fuel costs when replacing tokens. Snapshot X uses store-certified documentation, so these checks are not necessary.

Native Ethereum signature support

StarkNet supports native Ethereum cryptographic signatures, so users don't have to change how they interact with snapshots and can continue to use their preferred wallet.

Gas-free environment as usual

Users can sign up for surveys and create agreements without having to pay gas like they did with Snapshot today. This message is sent to the Snapshot Hub, which acts as a meta-transaction relay to send the vote and approval to the 2nd layer chain. The cost is borne by DAO using Snapshot X.

Integrate it all into a Snapshot client

Snapshot X is included as a plugin for Snapshot, and once opened, you can use Transaction Builder add-ons to run your application, just like SafeSnap currently uses it.

When will Snapshot X be released?

Snapshot, a work in progress, is expected to release Snapshot X in Q2 2022.

Snapshot staff plans to include some of the DAOs in the project and release all DAOs in the second half of Q3 2022. At first, the Snapshot X framework only supported ERC-20 and some elected strategies , ERC-721 compliant and various media. .

Snapshot agents also said they plan to expand the range of possible strategies and multiple polls.