We are excited to share the integration of UMA’s oSnap tool for future treasury management and DAO governance & more for Buffer!

While we are not an official DAO yet, Buffer is developing towards a maximally decentralized structure - oSnap as a fast, cheap & decentralized solution will contribute to & enable this process.

oSnap is a DAO governance tool built and secured by UMA. It allows your community to vote offchain and automatically execute the results onchain. oSnap integrates with your Snapshot Space and the Safe wallet holding your treasury funds. Transactions approved by the community are validated onchain and executed without the need for centralized multisig approval.

We have chosen oSnap because of the flexibility, speed and low cost it provides for governance votes and the degree of decentralization it adds to Buffer. Leveraging off-chain voting for on-chain execution without the need to rely on multisig setups is relevant for a number of platform features and processes we envision for the future of Buffer.

How it works

At a technical level, Snapshot allows you to attach transaction data to a proposal using their transaction builder. Here community members can add specific transactions they want the DAO to make. When the proposal is published Snapshot publishes this transaction data on decentralized hosting service IPFS, and generates a unique identifier for that data.

If approved, oSnap submits the transaction data to UMA’s optimistic oracle. The oracle validates that the transaction is a 100% match for the data stored at the IPFS identifier. If it’s valid, the transactions are immediately executed from the DAO Safe. If it’s invalid or a malicious transaction submitted to attack your DAO, the data is immediately and automatically deleted before it arrives on-chain.

Detailed text & video guides on how to vote with oSnap and monitor the entire process from proposal to execution will be published shortly!

Learn more

Buffer Finance is an exotic options platform built on Arbitrum that offers a CEX-like trading experience in a permissionless & decentralized fashion - gasless, instant and in one click.

oSnap is a free-to-use governance tool secured by UMA and audited by Open Zeppelin. It is free to use and can be integrated in less than 60 seconds.

UMA is an optimistic oracle that can validate any independently verifiable data on the blockchain. UMA ensures protocol security by incentivizing validators to identify and delete false information passing through the oracle. Since launching in 2020, UMA has secured more than 10,000 critical data assertions. It has never been corrupted.