Summary
I’d like to open the discussion on potentially upgrading our proposal execution mechanism from the current Reality.eth oracle to UMA’s oSnap system. The primary driver of this is that reality.eth is no longer supported with Snapshot’s most recent UI.
Background
The 1inch DAO currently uses Snapshot for off-chain voting and Reality.eth (aka Safesnap) for proposal execution. While this system has worked well, the lack of ongoing reality.eth support may make oSnap a more user-friendly solution.
Why Consider oSnap?
oSnap (Optimistic Snapshot Executive) offers several potential advantages:
-
Streamlined Execution Process: oSnap creates a direct pathway from Snapshot votes to on-chain execution, which could simplify our current multi-step process. The current proposal execution process involves several transactions.
-
Optimistic Governance Model: The optimistic mechanism allows proposals to be executed automatically after a preset delay unless challenged, potentially increasing governance efficiency.
-
Industry Adoption: oSnap is actively supported by the Snapshot UI, reality.eth requires the legacy UI be used.
Next Steps
This post is intended to open discussion rather than present a formal proposal. Based on community feedback, we could:
- Form community consensus on whether or not we should persue this change
- Reach out to the UMA team for specific implementation details
- Consider a test implementation to evaluate in a controlled environment
- Draft a formal proposal if community sentiment is positive
Resources
For those interested in learning more about oSnap: