Using badges with Snapshot
You can use Otterspace Badges for governance in Snapshot using the Otterspace Badges Snapshot strategy. A Snapshot strategy is a function for calculating a member’s voting power based on their tokens. You can learn more about strategies in Snapshot’s docs.
💡 When you set a Snapshot strategy you are making this change for all proposals in your whole Snapshot space. If you want to use different strategies for different proposals, you need to change the space settings between proposals. Keep in mind that changing the strategy only changes it for proposals moving forward, not retroactively.
To add the Otterspace Badges strategy to Snapshot, first navigate to your space’s settings.
Scroll down to the ‘strategies’ section and click ‘add strategy’
When adding the otterspace-badges strategy, you will be prompted to edit the strategy details. You need to do this in order to specify which badges can be used in voting and how much voting power they have.
There are 3 variables you need to edit in the strategy (see A, B and C below). You can add badges by adding another badge object following the format below (see the curly brackets in bold - that is a badge object).
A- This is the token id of your Raft token. You can find it by navigating to the asset on Etherscan or finding your Raft in the collection on Quixotic and navigating to the details section on the token.
B- This is the id of the badge, which you can find as part of the url on the badge page. Navigate to the badge page for the badge you want to use in the strategy, and copy the final section of the url (example highlighted in yellow below)
C- This is the weight of the badge in the governance strategy. You can think of a weight of 1 as one vote, and a weight of 2 having two votes.
💡 We will soon be releasing a page in the Otterspace app that allows you to easily configure these settings and copy the resulting code to Snapshot.
If a DAO member has multiple Badges in their wallet when they vote, the strategy will use the weight of their most powerful Badge.
💡 Snapshot allows you to use multiple strategies at the same time, meaning that Badges and your DAO token can be both used for governance in the same vote.
If you are using multiple strategies in Snapshot, voting power is cumulative across strategies. In other words, if you use the Badges strategy and an ERC20 ‘balance of’ strategy, then someone who has a badge and ERC20 tokens will get voting power from both.
When using multiple strategies, you need to think about how you set the weights of each token. If you set the weight of an ERC20 token as “1”, and the weight of a badge as “1”, then they have the same voting power. A weight of 2 has twice as much voting power as a weight of 1.
The OtterDAO Snapshot space has 2 strategies (this means they are both running at the same time).
Strategy 1: ERC20 Balance of
Holders of $OTR get one vote for each token they hold. [Token voting weight is 1].
Strategy 2: Otterspace Badges
Holders of the ‘Alpha Otter’ Badge get 10,000 votes. [Badge voting weight is 10,000]
Holders of the ‘Rock Holder’ Badge get 1,000 votes. [Badge voting weight is 1,000]
Holds 20,000 $OTR = 20,000 votes
Holds 1 Alpha Otter Badge = 10,000 votes
⇒ Oliver has 30,000 votes
Holds 10,000 $OTR = 10,000 votes
Holds 1 Alpha Otter Badge and 1 Rock Holder Badge = 10,000 votes [only the more powerful badge is counted]
⇒ Ophelia has 20,000 votes
By setting up sub-space in Snapshot, you can use different Badges for governance in different teams/guilds/pods/sub-DAOs. For example, you might want to use only Engineering Guild badges for governance over the Engineering Guild budget.
To do this, first set up a sub-space in Snapshot and then configure the strategy for the space based on the Badges you want to use in governance.