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Project Overview
Snapshot is a decentralized voting system that provides flexibility in how voting power is calculated for a vote. It supports various voting types to meet the needs of organizations. Creating proposals and voting on Snapshot is user-friendly and does not require gas, as the process is performed off-chain.
Related news
ZachXBT: Zama cUSDC Contract Frozen Funds May Be Linked to Overnight Finance
"on-chain detective" ZachXBT posted on his personal channel, stating that upon further analysis, Circle has blacklisted the cUSDC contract of privacy protocol Zama on Ethereum. An address deposited approximately $12.4 million USDC into the Zama protocol on May 11, 2026, and this address is linked to Overnight Finance. Recently, the project initiated a governance vote on Snapshot to allocate treasury funds after users accused the team of conducting a rug pull.Previously, it was reported that the cUSDC contract of the Zama protocol on the Ethereum chain has been blacklisted by stablecoin issuer Circle.
Lido Updates Kelp Security Incident Progress: EarnETH Vault to Reopen After Protocol Recovery
Lido has provided the latest update on the Kelp security incident, stating that the Snapshot vote regarding the EarnETH first-loss protection mechanism falling below the 1% threshold has reached quorum and been approved. User losses from EarnETH will be fully covered by Lido Earn’s first-loss mechanism. The rsETH held by the attacker has been liquidated, and the related stETH has been transferred to the DeFi United rescue plan.Additionally, the EarnETH vault is expected to reopen shortly after the Kelp protocol resumes operation, at which point users will be able to deposit and withdraw funds normally. Lido emphasized that during the freeze period, both the EarnETH and EarnUSD vaults continued to generate yield. Currently, EarnETH users only need to wait for a brief unfreezing process to complete. Once funds are restored, compensation will be provided in accordance with the first-loss protection mechanism.
Aave to Vote on Pausing Token Buybacks to Prioritize Resolving rsETH Issue
the Snapshot page shows Aave ecosystem service provider TokenLogic has initiated a governance proposal regarding "whether to pause AAVE buybacks." The proposal suggests suspending the AAVE buyback plan until the situation surrounding the rsETH incident becomes clearer, with the timeline for resuming buybacks to be assessed at a later date.Voting will begin tomorrow (April 28) and conclude on May 1.