Currently, governance.derivadex.com enables all users to vote for on-chain proposals. A few notes about these on-chain proposals:
- Users vote with DDX
- Users can delegate DDX to another address
- Users must have DDX in an EOA at the time the proposal is made to be eligible to vote (i.e., not on an exchange)
- Proposals must be made on-chain, and have a minimum DDX balance requirement for the proposer
Another popular product is Snapshot (https://docs.snapshot.org/). Snapshot is not an on-chain nor binding voting mechanism, though it is token-weighted.
The benefit of Snapshot votes is that they are:
- Free. It does not cost gas to cast a vote on a snapshot proposal.
- Token-weighted. Unlike informal polls i.e., on twitter or discourse, Snapshot requires users to sign a transaction so that their vote reflects their DDX weight.
- User-friendly. Creating a Snapshot proposal is possible within a visual user interface, lowering the technical barrier to entry.
Some cons of Snapshot…
- It’s not always well understood by users (Snapshot votes are NOT on-chain, NOT binding, and for polling purposes only).
- It can become noisy, with many similar proposals active at one time
- It may not reflect how a community will really vote, and the DAO should be cautious not to over-index on snapshot results.
What are your thoughts?
I’d support the creation of a snapshot page, seems pretty standard for most DAOs to have one, and its a great signal gathering tool!
I would like to see snapshot be implemented to DerivaDex. The reason is no matter how many ddx you hold you can vote on proposals and not pay a fee. This takes into consideration of everyone in the community since I could imagine many would not vote when there’s a gas fee. What are the next steps we have to take to see this implemented?
Snapshot certainly seems the way to go
Right. I’m all for it. This service is used a lot of places and has proved to be quite good.
So, it looks like DerivaDAO.eth actually was set up as a Snapshot page some time ago.
if the community wants to use this, I think we can go ahead. Other accounts can be made administrators of the Snapshot as well.
Few reminders about snapshot
- it is ONLY POLLING! That means it can help signal how DAO members will vote. Nothing that passes on the Snapshot is binding, and it is NOT on-chain.
- There is a minimum DDX requirement (currently 1000, though it can be changed) in order to make a proposal to cut down on spam
- It should be possible to do some tidying of the snapshot page to make it look nicer but it is functional now.
Has anyone here managed a Snapshot page before, or created / voted in proposals? It might be nice to have an early proposal that just assigns some experienced admins to the Snapshot.
Link → Snapshot