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What is the snapshot that SushiSwap and YFI are using?



I don’t know if you have made a lot of money in DeFi and farm, but if you pay attention to the news, you will definitely be confused by various proposals and contents of Sushi, YFI, YAM, CRV and other projects, and you can’t remember the specifics. Timing or content-zce details should be the norm.

If you want to track the recent status of community governance of new DeFi projects in real time, Rhythm BlockBeats suggests that you need to know about Snapshot at this time. For ordinary investors, this is a tool that is convenient for you to find the time and content-zce of various important proposals, and participate in the governance of projects with tokens; for project parties and communities, Snapshot can greatly simplify the process of community governance and reduce complexity degree, and increase community enthusiasm and engagement.

According to Rhythm BlockBeats, Snapshot is an aggregated governance platform that provides community proposal voting for ERC20 tokens. It was developed by the Balancer team and launched in August this year. As an off-chain governance tool, users use Snapshot for signature voting and community proposals without consuming GAS fees. Different from Aragon's full coverage from creation to governance, Snapshot currently only provides two functions of proposal and voting. It is more inclined to be a platform tool for governance voting, rather than a tool that provides construction, governance voting, pledge, chain court, etc. A platform for complex functions.

SushiSwap’s preliminary revision of the strategic financing proposal: the scale is reduced to 20 million US dollars, no upfront discount: Sushiswap developer OmakaseBar released a preliminary revision of the strategic financing proposal in the Governance Forum today, which is based on community feedback and readjustment of all participants recommendations, including:

1. Adjust the financing scale to 20 million US dollars, of which 10 million US dollars will be used for strategic fundraising, targeting 3-5 institutions, and 10 million US dollars will be used for community crowdfunding auctions on MISO, and the auction will determine the pricing of all parties;

2. There is no upfront discount;

3. There is a 2-year lock-up period and a 2-year vesting period, and there is no lock-up period and vesting period for some community quotas;

4. Call option, the strike price is 1 times the current token price, expires in 2 years, and has a vesting period of 2 years.

It is reported that SushiSwap will conduct specific discussions on the aforementioned terms this Sunday. [2021/7/21 1:07:00]

The current version does not yet support the list of all projects, and currently shows some projects with high community participation , some items require the user to manually enter a suffix to display. In this regard, Rhythm BlockBeats learned that the project party stated that through subsequent upgrades, it will be possible to search-zce the interface of all projects and proposals.

SUSHI breaks through the $20 mark with an intraday increase of 21.5%: according to data from Huobi Global, SUSHI rose in the short term and broke through the $20 mark. It is now reported at $20.0043, with an intraday increase of 21.5%. The market fluctuates greatly, so please do a good job in risk control. [2021/5/18 22:15:19]

In addition, as an open source project, Snapshot does not object to other projects copying code and starting from scratch. Curve created a new proprietary governance website ( for forking Snapshot's code.

When decentralized governance is increasingly becoming an important part of new projects, when users want to vote for community proposals by providing signatures, many websites may spend a lot of time.

Up to now, Rhythm BlockBeats found that Snapshot has been connected to popular projects such as (YFI), Yam Finance (YAM), Balancer (BAL), Sushi (SUSHI), Swerve Finance (SWRV), and (YFII).

BitTok was invited to attend the Consensus2020 Consensus Conference: At 7:00 am New York time on May 11, the Consensus2020 Consensus Conference opened online. BitTok, as a cutting-edge digital asset trading platform, was invited to attend. It is reported that the BitTok online booth received more than 2,000 visits. The BitTok team introduced the vision and strength of the BitTok digital asset trading platform to the industry in detail. The Consensus conference is a "thought trend" conference for global blockchain practitioners hosted by the leading blockchain media Coindesk. [2020/5/13]

As an off-chain governance tool, users use Snapshot for signature voting and community proposals without consuming GAS. The corresponding number of tokens in the user's bound wallet determines the voting weight. According to the Ethereum block snapshot, proposals and votes are signed messages stored on IPFS.

FTX founder participates in Sushi multi-signature community vote

Voice | Ambrosus CEO: It is absurd to compare the decline of digital currency to the burst of the Internet bubble: According to ethereumworldnews, Angel Versetti, CEO of Ambrosus (AMB), said that it is absurd to compare the decline of digital currency to the burst of the Internet bubble. The two do share similarities, though, with tech-focused startups overvalued, problematic business models, and oversaturated products, platforms, and services. [2018/11/24]

The upper right corner displays information such as the voting token name, start and end dates, IPFS, and snapshots at the time of release, and the bottom is the current voting data

In addition to voting, users can also initiate community proposals. Rhythm BlockBeats observed that the Snapshot proposal interface provides custom voting styles and proposal-related rules. It is also free for users to create proposals without transaction.

For project parties who expect the community to participate in governance voting, find a convenient and quick tool to serve community governance It is a wise choice for the project party. At the bottom of the Snapshot home page, the project party can choose Create space to communicate with the team and upload the corresponding materials. The project can easily access the platform for free to create project management space, custom skin and unique domain name. In the current version, active-zce community governance interactions on Snapshot will be placed on the homepage.

Compared with Aragon, which provides DAOs built on its platform with various functions such as formulating rules and regulations, voting, budgeting, fund custody and use, Snapshot is only an off-chain aggregation platform that provides governance proposals and voting, but because it has no The simple design of staking and off-chain voting without consumption creates great possibilities for users to use it on a large scale. For example, the recent popular Sushi multi-sig election votes, YAM migration votes, and many YFI votes are all conducted through Snapshots. There is no doubt that this will cultivate a large number of users for community governance.

In addition, according to Rhythm BlockBeats, the Snapshot team made it clear when responding to questions from community members that they would not issue IC0s or issue coins. At the same time, the team is not stingy about making the project completely open source for use by project forks that require community governance.

Snapshot is for DeFi, just like Metsmask is for Ethereum. As more and more projects move from Incorporating community governance into a part of project operation from the very beginning, more and more people will realize that convenient community governance tools are also an indispensable part of enhancing creativity and stimulating industry development.

Related information:

Snapshot official website:

Snapshot documentation:

Snapshot Twitter:


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