Today we’re happy to announce that Snapshot has officially gone live on our platform, marking a long-requested integration for projects onboarding to the Commonwealth ecosystem. For those new to crypto - Snapshot is a lightweight off-chain, yet provable way, for protocols to self govern.
Projects have chosen this as a way to participate in voting without the burden of gas fees and offering governance for proposals and voting. Over 1,500 spaces have already been created on Snapshot across some of the most popular blockchain networks, including Ethereum, Polygon, xDAI, and more.
Yet, as we’ve talked with projects, we’ve often heard users and protocols discuss the pain points of switching between multiple interfaces.
Zak Hap, who leads product at Common Protocol, explains further: “As the first off-chain governance system to take a real hold within the greater crypto community, Snapshot allows every token community to benefit, in terms of coordination, from the power of native crypto governance tools. By integrating Snapshot to Commonwealth, we hope to further tighten community organization through the coupling of a full-featured web3 forum with the community standard off-chain voting system.”
Snapshot Key Features & Benefits
Snapshot allows any EVM-based token to create their own community via its open-source technology. Creating a space is free and simple; requiring less than 5 minutes. Users can then create their own proposals without paying any transaction fees, thereby making voting completely free.
Common Protocol allows you to import your Snapshot history and combine it with the rest of your conversations and proposals under one united platform. Users can now create and vote on Snapshot proposals within the Common interface.
We’re extremely excited about this new development - with our partnership with Snapshot we can help connect, empower, and grow the crypto governance community. We will continue to release more features with this partnership, including a plug-in on the Snapshot site.
To learn more about Snapshot and the projects that work with its technology, please follow the platform on its social media channels below: