Frequently asked questions.
Snapshot is an off-chain voting platform that allows DAOs, DeFi protocols, or NFT communities to vote easily and without gas fees.
The tool allows high customization of the voting process to cater to the diverse needs of the users and organizations. Customization includes different aspects like calculation of the users' voting power, selection of the voting mechanism, proposal and vote validation, and many more.
In cryptocurrency, a snapshot is a record of the state of the blockchain at a particular block height. It means that you can for example track the holdings of a specific wallet back to a specific point in time. Snapshot, the voting platform, is using snapshots to validate if voters met the voting criteria at the moment of proposal creation. If a voter acquired required tokens after the proposal has been created, these newly acquired tokens would not be used for calculation of their voting power.
You can think of a space as an organization's account on Snapshot which can be viewed by anyone visiting the platform. It serves as a hub for all proposals related to the organization and a source of information for the users. It’s also where users will vote on proposals in their community.
You need to connect to Snapshot with your wallet and fulfil the requirements defined by the voting strategies used by a specific space. For example, you might be required to hold a specific amount of the organization’s token. You can see the voting strategies directly on a proposal’s page in the Information section: