Gnosis Safe and Snapshot DAOs are added to DeepDAO
For the first time on DeepDAO: DAOs with a modular design
We are excited to add a new DAO platform to the DeepDAO dashboard; Gnosis Safe + Snapshot. The combination of Snapshot for voting and Gnosis Safe for treasury and execution is adopted by many DAOs and has become somewhat of a standard for lean DAOs in the space.
Several large DAOs, such as Balancer, Rarible, Sushi, GnosisDAO, and Yearn Finance, utilize the combination of Gnosis Safe/Snapshot for crucial aspects of their DAO governance and operations. In this first batch six new DAOs are added to DeepDAO. Many more are coming.
With the new additions, the total number of Decentralized Organizations listed on our platform rises to 116, and the total AUM jumps from $ 462.2M to over $625M USD. The number of members or token holders holding voting power in DAOs rises to over 190,000.
Modular Design DAOs
For the first time, DeepDAO is adding a platform that implements DAOs by using a modular design. The DAO is no longer one protocol, one piece of software such as an Aragon DAO or a DAOhaus DAO.
The Safe/Snapshot combination separates the functions of the DAO to voting with one system and enacting decisions with another. The voting system, in this case, is being Snapshot, and the mechanism for implementing decisions being Gnosis Safes.
About Gnosis Safe: Gnosis Safe Multisig is the most trusted platform to manage digital assets on Ethereum. It allows organizations to fully customize how they manage their assets and protocol, with the option to require a predefined number of signatures to confirm transactions. Gnosis Safe is developed by Gnosis.
About Snapshot: Snapshot is an off-chain gasless multi-governance client with easy to verify and hard to contest results. A DAO can have one or multiple “Spaces” that can host votes based on various inputs (ranging from ERC20 tokens to NFTs). Snapshot is developed by Snapshot Labs.
Signal Proposals
This combination introduces the concept of a Signal Proposal. The decision made by the DAO membership is not binding — code is not immediately executed as a result of a decision — it’s only a signal. The Gnosis Safe keyholders can then execute the decision or override it.
While some DAO v1 purists will tell you that modular designs are not “real” DAOs, our approach is inclusive: if people have mutual interests, and they make decisions together regarding those interests and do so transparently with an eventual result written to the blockchain, for DeepDAO they are in a DAO.
Furthermore, modular design for DAOs echoes other governance systems in the real world. Modern democracies and their separation of powers are one such example.
Think, for example, of existing democracies and their separation of powers — for better or worse.
SnapSafe: The next steps for Snapshot & Gnosis Safe DAOs
We will continue to add more Safe/Snapshot DAOs, and in the future the platform will also be able to differentiate between DAOs that use the SafeSnap module and those that don’t. SafeSnap is a Gnosis Safe Module developed by Gnosis that allows a DAO to directly connect the execution of Gnosis Safe transactions to Snapshot votes. This takes away the trust that voters must have in Multi-sig admins — potentially turning Gnosis Safe into the operating system for DAOs.
At DeepDAO we’ll continue to monitor and integrate all DAO platforms and innovations. The decade of DAOs has started — and we’ll be here to provide you with all the data and insights you need to stay ahead in the age of DAOs.
About DeepDAO
DeepDAO is covering both financial and governance data on 100+ top DAOs. It started with the five major platforms — Aragon, Moloch, DAOstack, OpenLaw, and Colony that are all Ethereum or EVM networks DAOs (Ethereum or xDAI). DeepDAO is continuously expanding coverage to other chains and governance platforms as well.
Supported by great firms in crypto, including LD Capital, YBB, Hypersphere, DFG, Moonwhale Ventures, Morningstar Ventures, SevenX Ventures, AU21 Capital, TRGC, JRR Crypto, Incuba Alpha, Bitfwd 比特未来 , Mr. Block, The Illusionist Group, Puzzle Ventures, PAKA Capital, Kernel Ventures, Lancer Capital, Waterdrip Capital, LVT Capital, Infinite Decentralization Capital, Kolektivo Labs, Moon Capital, BlueHelix, ArkStream Capital, ID Theory, DAO Maker, Ellipti, Stratos Technologies and others.
Eyal Eithcowich participated in writing and editing this article.
🌐 Website: DeepDAO.io
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