Gnosis Introduces SafeSnap – DeFi Rate

Gnosis Introduces SafeSnap – DeFi Rate


Gnosis has launched the first-ever decentralized governance tool suite integrated into the Gnosis Safe aptly named SafeSnap. Since the Gnosis multi-sig wallet has become the preferred way for many DeFi projects to manage their ETH-based assets, having a natively integrated governance tool that can interact with community funds makes a perfect product fit.

With this new addition to the Gnosis Safe’s capabilities, the team sees Gnosis Safe becoming the operating system for decentralized autonomous organizations or DAOs. SafeSnap combines Gnosis Safe with governance platform Snapshot, by integrating these two popular tools Gnosis has created yet another piece of critical infrastructure to the decentralized tech ecosystem.

A group of early adopters has already been onboarded including YearnSushiSwapSynthetixBalancermStablePoolTogetherdHedgeBrightIDStakewiseEPNS, and  GnosisDAO.

Technical users and DeFi founders can look here to see how they can integrate the SafeSnap module into their existing operations. By using SafeSnap, protocols will enable their communities to perform trustless, on-chain execution based on results of an off-chain vote through Snapshot. With the Gnosis Safe as the core component , one can see a path to progressive decentralization as follows:

  •  Gnosis Safe + Snapshot, in which the multi-sig promises to act in accordance with the off-chain votes. This is the current status quo.
  • Gnosis Safe + Snapshot + SafeSnap, in which on-chain execution of off-chain votes is handled by the SafeSnap module, but there are still multisig owners that can veto malicious actions or act quickly in the case of an emergency.
  • Gnosis Safe + Snapshot + SafeSnap, in which the multi-sig owners have been removed, and the only way to execute transactions is via the SafeSnap module.

SafeSnap has been through rigorous internal testing and has received a successful audit as well. For readers with questions join the Gnosis Discord server and ask the team directly!

 

 





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