Snapshot Labs Raises $4 Million to Shape Future of DAO Voting

▤ Summary

Voting is at the heart of decentralized autonomous organizations, or DAOs, allowing members to voice their opinion on matters like project funding and protocol adjustments. To that end, Snapshot Labs announced today a $4 million seed raise led by 1kx, an early-stage token fund. By connecting to Ethereum wallet MetaMask, the tool verifies that users indeed hold tokens in the project and are therefore eligible to vote. Snapshot helps determine whether there is enough interest to move forward with an official referendum, in which tokens are used to cast votes. "Our goal is to enable inexpensive, trustless voting to be settled on-chain," said StarkWare Head of Product Avihu Levy during a presentation at DAOist Lisbon in October.

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