Snapshot.org on Shibarium

(1) Introduction and Objective

This proposal presents the opportunity of getting Snapshot.org to integrate the Shibarium network. This would allow for DAO formation directly on Shibarium for future Shibarium projects, which is not currently possible with common Web3 infrastructure. This also presents a potential opportunity for K9 Finance to migrate the current Snapshot.org on Ethereum to Shibarium.

(2) Benefits to K9 Finance Community

K9 Finance DAO could lead by example by paying to integrate Snapshot.org with Shibarium. Snapshot.org is the leading DAO framework in Web3, and is one of many key infrastructure components that make up a successful blockchain. Positioning K9 Finance DAO as a leader in the Shibarium ecosystem cements our DAO mission to bring DeFi to Shibarium. K9 Finance DAO and the broader Shibarium community benefit from more developers building on Shibarium.

This is a piece of infrastructure that would be of use to many builders in the Shibarium ecosystem.

(3) Proposal Details

(a) WHAT:

K9 Finance DAO is proposing as the official liquid staking product for Shib that we spend $20,000 per year from the multi-sig treasury to have Snapshot.org integrate and maintain their technology on Shibarium.

(b) WHO:

All KNINE holders are impacted by this proposal, as any increase in brand awareness / market leadership better positions the DAO to return value to holders. Holders are also impacted positively because the DAO would have the opportunity to deploy voting infrastructure on Shibarium after KNINE is bridged to the chain. Similarly, any project on Shibarium will be positively impacted by all core infrastructure upgrades to the ecosystem.

(c) WHERE:

This proposal would require the k9safe.eth multisig to send $20,000 to Snapshot.org. This would be an annual payment. This would also include operations and development teams from K9 Finance DAO to oversee the implementation and to coordinate relevant marketing campaigns.

*There may be room for negotiation on the price and marketing support with Snapshot.org. This proposal will develop as we open further dialogue with the Snapshot.org team. The level of time spent in negotiation is dependent on the level of community interest and support of this proposal.

(d) WHEN:

This proposal could be reviewed/approved at the next Roundtable of Dogs meeting. Assuming the proposal is approved and passes on-chain voting, the payment to Snapshot.org would be made within 1-3 days of the vote. Once payment is made, Snapshot.org needs 24-48 hours to implement the Shibarium network.

(e) HOW:

There are no special resources required. As outlined above, the k9safe.eth multisig will send $20k USDT to the Snapshot.org wallet (0x01e8CEC73B020AB9f822fD0dee3Aa4da2fe39e38), which kicks off the implementation schedule of 24-48 hours. This would be an annual payment.

Assuming this takes place, a separate proposal would be submitted to the forum regarding the potential move of the K9 Finance DAO Snapshot.org from Ethereum to Shibarium.

*There may be an opportunity to pay in KNINE tokens which will be part of ongoing negotiations, dependent on community interest/support.

(4) Impact Assessment

Short term, bringing Snapshot.org to Shibarium could help bring more TVL to Shibarium (from encouraging more developers to build here), as a core building block of DAO infrastructure will be available directly within the Shibarium network.

Long term, K9 Finance DAO will be seen as a driving force in the success in adoption of Shibarium, bringing attention and value to KNINE holders.

One primary consideration is whether or not the responsibility to pay for Shibarium integrations should be on the K9 Finance DAO community or on the Shibarium ecosystem at large. This would add $20k of annual overhead to the K9 Finance DAO which should be a major consideration when reviewing this proposal.

5 Likes

I’m not for K9 throwing $20K a year at network integration.

Moving the DAO to Shibarium wouldn’t make me want to invest in K9. Sure, great for internal talks amongst Shib ecosystem team members, but the average Joe couldn’t care less.

The DAO is currently free, right? Let’s keep it that way.

I would instead suggest, if K9 wants to lead the way, to get with Shy, Kaal, and others to discuss some sort of funding through Shibarium transactions that will pay for the fees.

$20K a year when it can be up and running in 2 days? I’m in the wrong business :laughing:.

5 Likes

100% behind this. If we aren’t integrating Shibarium, what are we doing here?

Lets go!

1 Like

I think this is a good idea in principle. My only concern is the annual subscription commitment been borne by the DAO to maintain the service.

With increasing Shibarium adoption I can imagine the fees generated by K9Finance can cover it comfortably.

Perhaps further discussions with existing Shibarium projects to contribute to the initial cost could be an option.

5 Likes

I love the purposal but would like to seek other options for fees.

3 Likes

Perhaps we should consider this if or when there is much demand for it by developers since it doesn’t look like something that takes a lot of time to implement.

1 Like

Defo in support of this.

1 Like

I like the principle of it all.

However, I don’t see why K9 has to be the one forking over the costs for this bill.

Is there a better way for this cost to be carried by others responsible for the chain or at least shared?

6 Likes

I find myself on the same page as lightspeed. This IS the play but I feel the 20k could be offset with partners contributing.

You mentioned the price is negotiable. I’d like to see what it could be negotiated to. For the right price and split of cost, I would support the proposal.

3 Likes

This helps advance a core DAO mission, bringing defi to shibarium, and I’m in on the idea. It will happen sooner or later regardless of K9s involvement in my opinion, and I would prefer to be on the leading edge vs being a tag along to another project.

If there is a way to pool the annual fee costs with some key Shibarium partners under the K9 banner, then that would make the proposal even better. I’m in support either way.

2 Likes

Agreed!!
If the proposal to join with Snapshot is desired, then the fee needs to be dispersed across all of Shibarium POC/Nodes/Use.
I see the benefit in sourcing this Partner in the growth and expansion of All Shibarium.
*** SHIBARMY STRONG ***
*** WEAREALLRYOSHI ***

1 Like

Wanna put a little humor in here…lol… I do not know allot about building or developing or how this will bring more builders and developers to shibrium… I just know that Turbo turtle and Buzz say it will so it will… I do however know a lot about business and it being beneficial to all of Shibrium should make all the partners want to bring it in… I believe the cost should be negotiated and shared amongst shibrium partners…Reaching out to those partners is a topic for discussion.

1 Like

I think the cause is noble, but K9 can’t be solely responsible for that cost. There needs to be a show of interest from within Shibarium. The worst thing to happen would be to pay $20k to see little adoption across the chain, and we can’t be in the business of helping convince them all to use Snapshot just because we bought it for them.

Also, consider the builders on Shibarium may have an alternative of their own. Outsourcing is not always the best solution, and I have heard people talk about voting platforms native to the chain. Perhaps we poll the chain users and devs to take the temperature? Better than dropping $20k and getting ghosted.

I see the $20,000 as a proper investment for the DAO. It wouldn’t hurt to seek out support from others on Shibarium to assist with the financial cost. On the other hand it could be a good advertisement that K9 Finance provides Snapshot for our Shibarium community. We should get free advertising in each snapshot group. ( provided by K9 Finance).
I am sure you all get the logistic of my idea.