We are excited to reveal another new integration from the ongoing partnership between UMA and GYSR to build novel and effective incentive mechanisms for the broader crypto ecosystem. This solution brings together the latest technologies from both teams, UMA oSnap and GYSR Streams, to provide powerful payment management capabilities for decentralized projects.
Overview
The oSnap Stream pattern provides a number of exciting features and capabilities for DAOs and other web3 project teams:
- Autonomously handle ongoing payments to contributors
- Gasless off-chain governance votes to set individual earning rates for any address
- Trustless on-chain execution of rate updates secured by UMA’s Optimistic Oracle
- Use any ERC20 token as a reward
- Continuously stream payments every second that users can claim whenever they want
- Easy trustless budget management
This solution can be applied to a wide variety of use cases and applications, including:
- DAO contributor payroll
- Team token vesting
- Royalty or reward distribution
UMA oSnap
UMA oSnap lets DAOs create proposals, hold an off-chain governance vote, and execute the transaction in a trustless fashion. This means that projects get the convenience and usability of gasless off-chain voting combined with the safety and security of on-chain execution and settlement.
oSnap works by leveraging UMA’s Optimistic Oracle. It also extends your existing Snapshot and Safe for easy setup and integration
Learn more about UMA oSnap here (v2 is now live!)
https://medium.com/uma-project/announcing-osnap-v2-seamless-dao-governance-with-optimistic-snapshot-execution-38b08a25e035
GYSR Stream
The Stream is a trustless tool for streaming crypto payments. It is one of the new incentive mechanisms that was introduced with the GYSR v3 launch. A Stream can be used for project payroll, token vesting, rewards distribution, and more. It lets you easily manage your project budget, set individual rates per user, and autonomously handle ongoing payments.
Learn more about GYSR Streams here
https://medium.com/gysr/gysr-v3-streams-65ff830ed0fb
Integration
Now let’s dive into the weeds of how this integration actually works
There are four key components in this solution:
- UMA oSnap: verifies the voting off-chain outcome and propagates transaction data
- GYSR Stream: payment streaming and fund management
- Snapshot: off-chain governance and voting
- Safe: transaction execution and permissions
The diagram below outlines how these solution components are configured and how they interact during a vote.
How to get started
- Make sure your Snapshot Space is setup and ready to use
- Make sure your Safe is setup and ready to use
- Install the Zodiac app and oSnap module to your safe (instructions here)
- Configure the oSnap module
- Link the oSnap module to your Snapshot Space
- Create a GYSR Stream (instructions here)
- Set the Safe address as the staking module controller for the Stream
- Fund the Stream with your chosen ERC20 reward token
- Create a new proposal to update contributor payment rates!
Please feel free to reach out to the GYSR or UMA teams at any time for questions/discussion on this pattern. We’d be happy to collaborate!
[GYSR discord] [UMA discord]
