Using Snapshot for your Klaytn project governance

Snapshot, the leading decentralized off-chain governance platform, now supports projects on Klaytn’s Baobab Testnet and Cypress Mainnet. 

Used by thousands of Web3 projects around the world, Snapshot provides an off-the-shelf solution for cryptocurrency projects to conduct secure decentralized decision making without having to build the infrastructure from scratch. In addition, Snapshot ingeniously uses off-chain signing techniques that leverage IPFS to enable fee-less voting.

Here’s a quick guide on how to get decentralized governance for your Klaytn project up and running on Snapshot!

Create your project’s space on Snapshot

You will need an ENS domain to create a space for your Klaytn project. If you do not have one yet, you can register for it here.

1. Visit snapshot.org and connect the wallet that you registered your ENS with.

2. Click on the + icon on the left to create a new space.

3. Select the ENS address that you want to create the space with, then click ‘Register’.

4. Key in the wallet address that you would like to set as the controller (aka the super admin role) for the space and click ‘Set controller’. Note that this will require signing a transaction on the Ethereum Mainnet to set the ENS text-record, so please ensure that your wallet has sufficient ETH.

5. Fill in the Profile details for your project’s space.

6. In the Voting strategies section, select ‘Klaytn Cypress Mainnet’ under Network. Under Symbol, key in ‘KLAY’. Then, click on ‘Add strategy’ to add the voting strategies you wish to use.

7. Select your preferred strategy and fill in the pop-up forms to add the voting strategies that you plan to use for your project’s governance.

8. After adding your Strategies, continue down the space creation page to add Admins and Authors to your space.

9. Finally, set your Voting parameters. Once done, click on ‘Create’ to create your space. You will be required to sign the request.

10. Your project’s space on snapshot.org is now live!

Create a proposal for voting on Snapshot

Depending on the settings for your space, members of your space may need to hold a minimum number of tokens to create a proposal or to cast a vote. You can edit these parameters in the settings page for your space.

1. With your wallet connected, visit your project’s space on snapshot.org and click on either ‘Create proposal’ in the main area or ‘New proposal’ on the left menu.

2. Fill out the Title in accordance with your project naming standards. Next, fill in the Description and Discussion link if any. Once done, click ‘Continue’.

3. Next, select and define the Voting system, Choices, and Voting period for your proposal. Once done, click on ‘Publish’ and sign the request to create your proposal.

4. Your proposal is now created!

How to vote on a proposal

1. Visit the project’s space on snapshot.org and connect your wallet that holds the project’s token.

2. Click on the option(s) that you want to vote for, then click on ‘Vote’ and sign the request with your wallet to cast your vote. Do note that some projects may require voters to hold a certain minimum number of their governance tokens to qualify for voting.

With Klaytn integrated on Snapshot, Klaytn DAOs and projects now have an easy, fee-free way of conducting secure, decentralized governance.