According to a statement from Anchorage Digital, the company will integrate Snapshot’s standalone, gasless, multi-management client with its platform.
In this way, Anchorage will enable “token-owning community users” to vote on proposals to manage their assets without incurring any additional spending or gas fees.
Anchorage Digital is pleased to announce that customers can now participate in Snapshot voting using their Anchorage Digital address. Our WalletConnect integration enables:
+ Voting from within qualified custody with no movement of funds
+ Secure off-chain governance for… pic.twitter.com/VYZ5pIwyl1– Anchorage Digital (@Anchorage) May 16, 2023
The company said the main benefit of joining Snapshot is that the Anchorage community will be able to encourage a broader range of its customers to get active and vote.
Transactions are not publicly recorded on the blockchain, and votes are counted offline and therefore do not require payment for gas.
According to the project team, the new voting form will also be useful for users of Anchorage, who previously might have sent their tokens to the wrong address by mistake.
In March, Anchorage Digital announced a 20% staff reduction. The company said the decision was influenced by regulatory uncertainty in the U.S. financial system.