oSnap integrates with Tenderly to provide transaction simulation

oSnap has incorporated Tenderly’s Simulator feature, which allows users to preview transactions before publishing a proposal.

oSnap was released in 2023 and has rapidly grown in the DAO ecosystem. oSnap enables DAOs to implement governance voting outcomes on-chain in a distributed manner. Its use becomes simpler with optimistic governance.

oSnap’s integration with Tenderly, a Web3 building platform that provides testing solutions, is owing to its design with overall user exposure in mind.

oSnap allows users to create transaction payloads in Snapshot. If a proposal passes, the transaction will be implemented on-chain. oSnap has helped DAOs like Connext and the CoW Protocol receive governance more effectively.

The disadvantage here is that users were unable to test their transactions, which increased the possibility of incorrect transactions when publishing a proposal.

Tenderly integration with oSnap provides a substantial improvement by incorporating a practical function: transaction simulation.

Tenderly is a highly regarded application used daily by leading Web3 developers. Using Tenderly’s Simulator feature enables users to execute test transactions on the new oSnap to anticipate their behavior.

The incorporation will facilitate the utilization of oSnap’s value proposition by DAOs.

Put simply, Tenderly increases the visibility of oSnap DAOs to users by enabling them to observe all essential transactions before including them in the transaction payload of Snapshot.

The abbreviation oSnap stands for Optimistic Snapshot Execution. Leveraging UMA’s optimistic oracle and Snapshot’s gasless voting system with secure wallets enables decentralized autonomous organizations (DAOs) to execute the outcomes of governance votes cast on-chain in a manner devoid of trust.

When a governance vote approves a proposal, the transaction associated with the proposal becomes associated with UMA in preparation for its implementation on-chain. To express dissent towards a transaction, an individual may submit a bond in which $UMA token holders cast a vote to resolve the matter.

The solution has generated $500 million after one year. OpenZeppelin audited oSnap.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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