Starknet Minting Vote to be Gasless under New Governance Protocol

Starknet Minting Vote will be Gasless under New Governance Protocol

In a major development for decentralized autonomous organizations (DAOs) and blockchain communities, voting can now be conducted onchain without incurring gas fees, thanks to the launch of Snapshot X. This new governance protocol, built on Starknet’s rollup technology, eliminates the costs typically associated with onchain voting, making participation more accessible and efficient.

Starknet minting vote:  Gasless Voting with Snapshot X

Snapshot X is designed to revolutionize the way blockchain communities vote. The protocol addresses the issue of high gas fees, which has been a barrier to participation for many. In the past, participants had to pay substantial fees, sometimes over $10, just to cast a vote—a clear deterrent for engagement in decentralized governance. Eli Ben-Sasson, CEO of StarkWare and board member at the Starknet Foundation, emphasized the impact of this new protocol, stating that “those with voting rights with DAOs that currently vote onchain need never again be expected to pay gas fees to vote.”

Starknet: How Snapshot X Works

Snapshot X operates on Starknet technology and uses storage proofs to allow gas-free voting. Users can prove ownership of their assets on one blockchain while participating in governance on another, without moving their assets. This provides an enhanced level of security and convenience, facilitating onchain governance at a lower cost. The modular design of the protocol ensures customizable, trustless, and decentralized voting, according to Jeremy Musighi, COO of Snapshot Labs.

Starknet minting vote : First Gasless Vote on Sept. 10

On September 10, the Starknet crypto community will be the first to use Snapshot X for a gasless vote on a staking proposal that will affect Starknet (STRK) tokenholders. This vote will determine the minting mechanism for Starknet staking, with participants deciding on token distribution and the allowance for minting adjustments to ensure the ecosystem's sustainability. The vote will conclude on September 13.

Starknet minting vote : Parallel Execution Upgrade

Starknet continues to innovate with recent upgrades, including the introduction of parallel execution on August 28, 2024. This upgrade enables the simultaneous processing of multiple transactions, reducing bottlenecks and enhancing network efficiency. As the first layer-2 solution on Ethereum to implement this, Starknet is setting a new standard in blockchain scalability.

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