In February of this year, UMA Protocol introduced oSnap, a tool that allows anyone to propose and execute transactions that have been approved by a DAO on Snapshot—without relying on a multi-sig.
oSnap makes DAOs more decentralized and efficient. It closes the gap between off-chain voting with Snapshot and on-chain execution with a Safe. All proposals are validated by UMA’s flexible and battle-tested optimistic oracle, which has been live since 2020 and is trusted by many well-known projects, including prediction markets like Polymarket, insurance protocols like Sherlock and Cozy, and bridges like Across .
Since its launch earlier this year, oSnap has been adopted by leading DeFi protocols like ShapeShift, BarnBridge, and Across, with more on the way. Projects like Index Coop that already use Snapshot to approve on-chain actions gain significantly in efficiency and decentralization by making the vote results executable through oSnap.
Once deployed, oSnap makes it easy for ordinary DAO members to execute transactions on-chain directly from the Snapshot interface once the proposals have been approved by the DAO on Snapshot.
At UMA, we believe that oSnap would be a great fit for Index Coop. By removing the reliance on a multi-sig to execute transactions, oSnap would greatly advance the decentralization of Index Coop, allowing tokenholders to vote gas-free off-chain with Snapshot while making the vote results enforceable on-chain.