oSnap Celebrates 1st Anniversary with Impressive Achievements in DAO Governance
oSnap Celebrates 1st Anniversary with Impressive Achievements in DAO Governance
oSnap, an optimistic governance platform, is celebrating its first anniversary with notable achievements in decentralized autonomous organizations (DAOs). Among these achievements, CoWSwap secured a treasury of ~$200M using oSnap, while AcrossProtocol executed DAO governance and secured $73M worth of funds. Other collaborations include preventing a malicious proposal in ShapeShift's DAO and enabling DeFi risk management in bProtocoleth. oSnap has been instrumental in automating governance processes for projects like EpochIsland, allowing the minting of Elder NFTs without voting gas. These successes highlight the progress towards true decentralized governance in the UMA community.
Today is oSnap鈥檚 birthday! 馃巶 Within a year, we have been able to bring the benefits of optimistic governance to 18 DAOs, executing almost 100 proposals and moving over $20M in volume onchain. Let鈥檚 take a look at some of our proudest oSnap achievements so far.
UMA Protocol Implements Two Major Upgrades: UMIP-185 and UMIP-186
Two significant upgrades have been implemented in the UMA Protocol: - **UMIP-185**: Optimistic oracle now uses hash and pointers instead of full ancillary data, reducing onchain data and gas costs - **UMIP-186**: Settlement Price Approval Threshold (SPAT) increased from 50% to 65%, requiring stronger consensus for dispute votes The SPAT change affects only contentious cases (2% of total votes). In 2025, only 6 out of 291 votes would have been impacted. This upgrade strengthens security for high-stakes decisions while maintaining efficiency. [Learn more about SPAT increase](https://discourse.uma.xyz/t/increase-spat-to-65/2177)
Polymarket Shows Mark Carney Leading in Canadian Election Betting
Prediction market Polymarket shows former Bank of England governor Mark Carney maintaining a strong lead in Canadian election betting markets: - Carney holds 78% odds vs Conservative Pierre Poilievre at 22% - Trading volume exceeds $50M - Market secured by UMA protocol Earlier in March, Poilievre supporters could get 2.56x returns on bets, reflecting longer odds. The sustained high volume and stable odds suggest strong market conviction in Carney's position.
UMA Voting System Shows Strong Growth in Q1 2025
UMA's decentralized voting system has shown significant growth in early 2025: - Unique voter addresses increased 300% over six months - Total unique voters now exceed 2,000 addresses - Growth indicates wider participation in decentralized voting The expansion of unique voters strengthens the system's decentralization and reliability. More participants help ensure accurate on-chain data verification. *Key Milestone*: This marks the largest growth period for UMA's voting system since launch.
EigenLayer Launches Slashing Feature, Completing Core Protocol
EigenLayer has activated its slashing mechanism on mainnet, marking the completion of its core protocol launch. This feature enables on-chain accountability for services in the Verifiable Cloud infrastructure. Key points: - Slashing mechanism now live on mainnet - Enables enforcement of operator behavior through economic guarantees - Completes EigenLayer's original vision for trustless services - Widely covered by major crypto media outlets The launch represents a significant milestone for decentralized infrastructure on Ethereum, with over 35 global media outlets covering the development. [Read the full announcement](https://www.blog.eigenlayer.xyz/slashing-goes-live/)
UMA Adds Early Proposal Warning to Reduce Disputes
UMA is implementing a new warning system to address the issue of premature proposals leading to disputes. - A warning message will now appear before proposers can sign - This change aims to reduce the number of disputed proposals - The warning helps educate proposers about optimal timing For detailed information about early proposals and P4 timing, check out UMA's comprehensive guide: [What is P4 and Why Does it Matter?](https://blog.uma.xyz/articles/what-is-p4)