Snapshot

DAO Governance has become an important voting tool for DAOs. Recently, the platform Snapshot raised $4 million in funding. Previously, it relied on donations from Gitcoin, but this is its first round of fundraising. Investors such as 1kx, The LAO, MetaCartel Ventures, Gnosis, StarkWare, Coinbase Ventures, BoostVC, Scalar Capital, Fire Eyes DAO, LongHash Ventures, and Cooperative Kleros participated in this funding round.

Snapshot was initially started as a side project by someone working at Balancer. After open-sourcing the initial version, it quickly gained popularity and was adopted by projects like Yam and Yearn. Currently, over 2000 communities, including Aave, Uniswap, and Sushi, are using Snapshot.

The code of Snapshot has been forked multiple times and used as a backend by various projects. The founders encourage this practice. For example, during the recent ENS airdrop, Snapshot was used to require users to vote on the ENS constitution before receiving the airdrop.

In the future, Snapshot aims to integrate with DeepDAO, Boardroom, and other DAO development kits to facilitate easy backend integration and scale to accommodate a large number of users. While there is a possibility of introducing its own token in the future, it is not currently a high priority.

For more information, you can read the article Popular DAO Voting Platform Snapshot Labs Raises $4M([https://email.mg2.substack.com/c/eJwlkU2OwyAMhU9TdomAQJMuWMxmrhEZcBLUBBA_7eT2Q1OB3rOQbazPBgquIZ0qhlzIR-ZyRlQe33nHUjCRmjHNzirG7tMkp5FYJSxrEXF5XhLiAW5XJVUkserdGSgu-KuCT4KTTRk5LVLKBRiAGcVkuR4kn7gctUTE5fsvVOvQG1T4wnQGj2RXWykx34afG_9t9_1-9yY4bzE_W3C0p4Jma8YpZ83YJY8mMcS6Q-oshO4VivNrF3coS0hHlz3EvIXS7aBzl8BlzJ04iFOfNozxdgYqWM97qwWa0U5AR2oohZ67U_-dergJeqy8z1XnAuaahiRV4Amry1v1uT6xdXq0vPXD50poeObmR_WunDN60DvaL7nyXcDFcl7RY2qLsTMUxe7DKAfKhRwe45dUQyvEICXld9ImsKFVeaVzRHj-Ax7znII).