Snapshot

“Snapshot is a decentralized voting system. It provides flexibility on how voting power is calculated. Snapshot supports various voting types to cater to the needs of organizations. Creating proposals and voting on Snapshot is user-friendly and does not cost any gas as the process is performed off-chain. In short, Snapshot is an off-chain gasless multi-governance client with easy to verify and hard-to contest results.” See Snapshot Gitbook

use cases

1. Large impact cultural decisions

When the Community Advice Process doesn’t provide a clear answer for how to move forward and a decision needs to be ratified by vote.

2. Community signal

Used to signal community support to proposals that aren’t ready to be on Tao Voting or Conviction Voting yet.

I.e:.

• The 75% governance giveback is a proposal that needed to be voted on the Hatch DAO, but the cost of 1000 wxDAI for the tollgate fee and the amount of work that would be needed to research and write the final solution to be implemented made the signaling vote the best option to move forward. With community support, the costs of time, research and funds needed for the final proposal could be spent more confidently.

• The Initial Buy In proposal also needed community signal. The final proposal will be submitted to the Hatch DAO, but a mutli-sig group needed to be decided before that. Holding a vote on Snapshot to decide the multi-sig holders before having a signal if the initial buy-in was even an option to consider wouldn’t be appropriate. So this signal proposal was voted on with yes/no options, and given the positive signal, the LASERTAG proposal could be submitted using Quadratic Ranked Choice Voting.

3. Runoff votes (coming from crowd proposal making on Tokenlog)

Tokenlog is a great tool to curate most relevant proposals, but it doesn’t work so well to pick one single winner. For that reason, the runoff processes from Tokenlog are hosted on Snapshot using Quadratic Ranked Choice Voting.

Types of Snapshot Voting

The TEC uses Quadratic Voting and Quadratic Ranked Choice Voting. Only TECH token holders can submit proposals. (soon to be TEC token holders)

Parameters

Support Required - the percentage of yes votes needed to pass a proposal.

• 88%

Minimum Quorum

• For every vote in Snapshot we need a quorum of at least 10% of the total token supply participating, including at least 10 unique voters.

Vote Duration Period - the duration of time each vote is open and eligible to be voted on.

• 4 days for Large Impact Cultural Decisions and Community Signal.

• 6 days for Runoff votes