Aragon and Balancer work together to take Snapshot to the next level

October 6, 2020

A couple weeks ago, we released a post about the holy grail of voting: Off-chain polling with on-chain execution. It explored the potential of bringing on-chain execution to Snapshot, a widely adopted tool for tokenholder polling.

Since then, we have been closely working with Balancer and Fabien — creator of Snapshot. Our work has been focused on making Snapshot optimistic — which means adding Aragon Agreements support. Then the outcome of the votes can be settled on-chain, or disputed if the proposed on-chain settlement is incorrect.

While working with Fabien and the Balancer team, it became very clear that we share a long-term vision for what Snapshot can become — a governance standard for tokenholder voting, and a common good for the community.

Snapshot fits perfectly into the Aragon vision — to create the best DAO infrastructure to let a thousand DAOs bloom.

Today, we are announcing that Balancer Labs and the Aragon Association will be working together on taking Snapshot to the next level. We will do so by contributing to the codebase and also sponsoring a sizable amount of bounties.

The Aragon Association will pledge $100k worth of ANT, while Balancer Labs will pledge $100k worth of BAL (subject to BAL governance approval). Both tokens will go into a 50/50 Balancer pool. Those funds will be used towards Snapshot development and funding bounties. We are looking forward to engaging with more communities that want to help in this journey.

As for our shared work on a governance standard, we will announce more details on it soon. We are extremely excited to be working with different stakeholders in the space who are excited about bringing tokenholder voting to the forefront of adoption.