What is Snapshot?
Snapshot has two meanings in crypto:
- Snapshot (the platform): A popular off-chain voting tool used by DAOs for gasless governance votes
- Snapshot (the process): Recording blockchain state at a specific block height for airdrops, governance, or other distributions
Snapshot as a Voting Platform
Snapshot is the most widely used governance voting platform in crypto. Over 10,000 DAOs use it, including Aave, Uniswap, and ENS.
How It Works
- A proposal is created on the Snapshot page for the DAO
- The system takes a “snapshot” of token balances at a specific block height
- Token holders vote off-chain (no gas fees) by signing a message
- Votes are weighted by token balance at the snapshot block
- Results are calculated off-chain and displayed publicly
Why DAOs Use Snapshot
- Free voting — no gas costs for voters
- Flexible voting types — single choice, approval voting, quadratic voting, ranked choice
- Transparent — all votes are public and verifiable
- Easy to use — just connect your wallet and sign
Limitation: Non-Binding
Snapshot votes are off-chain — they’re not executed by smart contracts. After a vote passes, someone must manually execute the decision on-chain (e.g., via a timelocked governance contract). This means Snapshot votes are technically “advisory” — the community can ignore the result.
Snapshot as a Process
A snapshot in blockchain is a record of state at a specific block height. It captures who holds what at that moment.
Uses of Snapshots
| Use Case | How It Works |
|---|---|
| Airdrops | Snapshot determines who gets tokens based on holdings/activity at a specific block |
| Governance | Voting power is based on token balance at the snapshot block (not current balance) |
| Fork distribution | Token balances at snapshot determine post-fork distribution |
| Dividend/reward distribution | Only holders at the snapshot block receive rewards |
Why Snapshot Blocks Matter
If a project announces “snapshot at block 19,000,000,” then only users who held tokens (or used the protocol) at block 19,000,000 are eligible. Buying tokens after the snapshot doesn’t help — you won’t receive the airdrop or governance tokens.
Frequently Asked Questions
Q: Can I vote on Snapshot if my tokens are staked? A: It depends on the DAO’s configuration. Some DAOs count staked tokens for voting (using staking receipts or delegation). Others only count tokens in your wallet. Check the specific proposal’s voting strategy.
Q: Is Snapshot voting secure? A: Snapshot uses cryptographic signatures (you sign with your private key), so votes are authentic. But since votes are off-chain, there’s no on-chain enforcement. The main risk is that a passed vote is simply ignored by the team or governance executors.
Q: Can I sell my tokens after the snapshot and still get the airdrop? A: Yes! The snapshot captures your balance at a specific block. What you do after that block doesn’t matter. This is why some people buy tokens just before a snapshot and sell immediately after — “snapshot arbitrage.”