Users in DAO can now vote without paying for gas with the launch of Snapshot X on Starknet

For the first time, participants in decentralized autonomous organizations (DAO) and other blockchain communities can vote without paying gas fees. The launch of Snapshot X, built on Starknet technology, addresses the issue of high costs and inefficiencies in on-chain voting, allowing users to vote without incurring expenses.

The Problem of Gas Fees in DAOs

According to the CEO of StarkWare and a board member of the Starknet Foundation, the new protocol will enable many organizations to follow their example and eliminate significant voting costs. Previously, DAO participants had to pay up to $10 per transaction during voting, which posed a major barrier for many.

How Snapshot X Works

Snapshot X uses Starknet technology and proof-of-storage to enable gasless voting. This allows users to prove ownership of assets on one blockchain without moving them. This approach significantly reduces costs, enhances security, and simplifies governance on one chain while storing assets on another.

Starting from September 10, 2024, the Starknet crypto community will be the first to use Snapshot X to vote on a proposal related to STRK staking. This vote will allow asset holders to determine the minting mechanism for new tokens and the staking distribution, ensuring balance and sustainability for the platform.