How Developer DAO is embracing optimistic governance with oSnap
Tldr; Developer DAO, the community focused on supporting the next generation of Web3 builders, has integrated oSnap to decentralize its governance process. Developer DAO joins a host of key DeFi projects to embrace optimistic governance, illustrating oSnap’s growing standing in the Web3 ecosystem.
Key takeaways:
Developer DAO has integrated oSnap to make its governance process more trustless and efficient.
The Developer DAO community will use oSnap to vote on key governance decisions such as budget allocations.
In one year, oSnap’s total value secured has grown to roughly $464 million.
oSnap, the Optimistic Snapshot Execution tool built by UMA, recently marked its first anniversary. The solution saw significant growth during its first trip around the sun, welcoming some of the largest and most active DAOs in the Web3 ecosystem.
oSnap has helped a diverse array of DAOs embrace optimistic governance. oSnap’s latest integration partner, Developer DAO, is a testament to this. Developer DAO is a decentralized community focused on supporting the next generation of Web3 builders. While the project’s mission differs from other oSnap partners, the Developer DAO community gets the same benefits as other projects using the solution: the ability to execute governance decisions onchain in a trustless and efficient manner.
Developer DAO joins the likes of CoW Protocol, Across, Connext and Shapeshift to integrate oSnap. The integration also brings oSnap’s total value secured to roughly $464 million. This figure has steadily climbed over the past 12 months as a growing number of DAOs integrate the solution. In this piece, we detail how Developer DAO will benefit from using oSnap and reflect on the solution’s successful first year.
How oSnap works
oSnap is short for “Optimistic Snapshot Execution.” oSnap’s value proposition is simple: it lets DAOs execute the outcomes of governance votes onchain without falling back to a central party such as a multisig co-signer. This allows DAOs to get governance done in a more trustless and efficient way.
oSnap is also a simple solution under the hood. It uses Snapshot’s gasless voting mechanism with Safe wallets, connecting multiple governance steps for DAOs through one intuitive module. oSnap uses UMA’s optimistic oracle to validate transactions when they pass through a Snapshot vote.
oSnap offers DAOs automated onchain execution. This means when Developer DAO’s community of $CODE tokenholders approve a proposal via Snapshot, oSnap’s bot automatically asserts it to UMA. If no one disputes the transaction within a challenge window, the transaction automatically gets executed onchain.
If a dispute arises, $UMA tokenholders vote to resolve the bond. They determine whether the proposer or disputer receives the other party’s bond — not whether the transaction can be executed. This mechanism incentivizes honest participation and punishes incorrect proposers and disputes.
About Developer DAO
Developer DAO has a clear focus: supporting Web3 developers building the future of the Internet. With oSnap, the Developer DAO community is empowered to oversee the project without relying on a central team to execute actions on their behalf.
A clear use case for the group is executing transactions based on the DAO’s budget. Developer DAO frequently allocates rewards to contributors and oSnap lets them make the payments trustlessly. Since the integration went live, Developer DAO has executed two transactions with oSnap. oSnap also brings greater efficiency to Developer DAO’s governance pipeline because it eliminates the need to wait for multisig co-signers.
Developer DAO differs from oSnap’s DeFi-leaning partners such as Connext and CoW Protocol. But oSnap offers the group the same fundamental benefit: a more streamlined and decentralized way to make governance happen.
oSnap and the optimistic future
Since launching in February 2023, oSnap has quickly become a mainstay in the DAO ecosystem. The latest integration from Developer DAO helps illustrate why oSnap has found success. Many DAOs with different missions need to manage treasury funds and execute governance decisions onchain — and oSnap lets them do so efficiently and trustlessly.
While oSnap has had a strong first year, we believe that the solution has an even brighter future ahead. Optimistic execution is the key to maintaining truly decentralized DAO governance. oSnap is already helping several DAOs stay trustless and will see greater adoption as the wider ecosystem embraces optimistic systems. The solution’s early growth also highlights the power and flexibility of UMA’s oracle system.
oSnap is free to integrate and only takes a few minutes to turn on. It’s been audited by OpenZeppelin. To learn more about integrating the solution into your project, please fill out our partnerships form, DM us on X, join the UMA Discord server, or reach out at integrations@uma.xyz.
Words by @dreamsofdefi
