What is Snapshot?

Snapshot is a place where projects can create proposals for people to vote on using cryptocurrency. In the industry, this process is called ‘vote signaling’. Traditionally, to vote using cryptocurrency would normally incur fees to process the movement of currency from one wallet to another. 

But on Snapshot, that doesn’t happen, thanks to the clever use of the decentralized storage network called IPFS. Because Snapshot doesn’t use ‘on-chain’ verification, any votes are essentially fee-less. 

It’s a popular tool for decentralized organizations (DAOs) looking to query what their audiences think using blockchain technology. 

• Snapshot is a decentralized voting system.
• It's used by several companies in the DeFi space to help survey users.
• The project uses 'off-chain' signing techniques to make voting fee less.
• There are more than 1,000 project proposals on Snapshot.

A brief history of Snapshot

Snapshot Labs, the creators of Snapshot, emerged from stealth mode in August 2020. 

At present, there isn’t a lot of information about who is behind Snapshot, but from various forums, it looks like it emerged from Balancer Labs, the R&D division of automated portfolio manager and trading platform Balancer.

Who uses Snapshot?

There are a wide range of companies in the decentralized finance (DeFi) space that have taken advantage of Snapshot’s unique polling system. These include Uniswap, Balancer, Yearn, Bancor, The Graph, Aragon, and others.

Definition 

Space:

A space is your organization's home on Snapshot. Voters can access it by searching for your project name or through a link. It is also possible to define a custom domain name for your space.

Proposal

A DAO proposal is an idea that a community or DAO member wants the DAO to consider. It’s typically a document describing an idea, how it will be implemented, and the funding requirements for executing the idea.

Snapshot - Vote and Voters Status

Snapshot - Proposal Status

Snapshot - Spaces and Choice

in this dashboard, we use the ethereum.core.ez_snapshot table for answering the following questions:

• Total Number of Voters
• Total Number of Votes
• Top Voters with Number of Votes
• Snapshot - Daily Number of Votes Casted
• Snapshot - Monthly Number of Votes Casted
• Total Number of Proposals
• Daily Number of Proposals
• Monthly Number of Proposals
• Proposal with Number of Votes
• Top Proposals with highest Number of Votes
• Total Number of Proposals - Active or End
• Total Number of Votes on Proposal - Active or End
• Total Number of Spaces
• Total Number of Choice
• Daily Number of Spaces
• Monthly Number of Spaces
• Spaces with Number of Votes
• Top Spaces with Number of Votes
• Snapshot Choice with Number of Votes
• Top Snapshot Choice with Number of Votes

This chart shows the voters who cast the highest number of votes. [0xd92…b62c] wallet has given the highest number of votes. [0xd92…b62c] wallet has 2787 votes. [0xe6B…2704] wallet has 888 votes. [0x83C…53F7] wallet has 1004 votes. [0xb9B…E93E] wallet has 914 votes. [0x395…e9d9] wallet has 886 votes. [0xD03…A7ff] wallet has 824 votes. [0x1F2…0b2F] wallet has 925 votes. [0x8aEE…5370] wallet has 881 votes.

In this chart, we see the proposals with the number of votes given to them.

The highest number of votes is related to "Ratification of the ENS DAO Constitution" proposal.

Proposals:

Ratification of the ENS DAO Constitution: 84348 Votes Arbitrum Odyssey Poll 1: 52607 Votes Arbitrum Odyssey Poll 2: 47792 Votes Arbitrum Odyssey Poll 11: 44875 Votes Arbitrum Odyssey Poll 3: 44757 Votes Arbitrum Odyssey Poll 4: 43373 Votes Arbitrum Odyssey Poll 5: 41164 Votes

In this chart, we see the proposals that have been given the most votes in terms of percentage.

The highest percentage of votes is related to “Ratification of the ENS DAO Constitution” proposal.

11.2% of votes is related to Ratification of the ENS DAO Constitution.

7% of votes is related to Arbitrum Odyssey Poll 1 6.36% of votes is related to Arbitrum Odyssey Poll 2 5.97% of votes is related to Arbitrum Odyssey Poll 11 5.96% of votes is related to Arbitrum Odyssey Poll 3 5.77% of votes is related to Arbitrum Odyssey Poll 4 5.48% of votes is related to Arbitrum Odyssey Poll 5

In the above two charts, we see the status of active and ended proposals with the number of votes cast.

97.6% of the proposals are in the finished state. [50,438 proposals]

2.42% of the proposals are in the active state. [1253 proposals]

96.7% of votes are related to finished proposals. [5,385,707 votes]

3.25% of votes are related to finished proposals. [180,970 votes]

In the above two charts , we see the number of spaces on a daily and monthly basis. The highest number of spaces created was on November 20, 2021. 844 spaces have been created in November. In November, due to the bull market and the increase of buyers of the digital currency market, we can see it in the number of spaces created on the Snapshot platform. Since November, we can see that the number of spaces has decreased, but it has a good trend considering the bear market.

In the above charts, we see spaces with their number of votes.

The chart on the right shows the spaces that have the most votes.

109.1k votes have been given to Space cake.eth

86k votes have been given to Space ens.et

65.4k votes have been given to Space arbitrum-odyssey.eth

38.2k votes have been given to Space bestfork.eth