PGP-47 l Renew the Parallel Snapshot Subscription

Governance Proposal (PGP)
1

Summary:

This proposal aims to renew the Snapshot Pro subscription of the Parallel DAO voting space (parallel-protocol.eth) for a 12-month term starting November 1st 2026, for a total cost of $6,000 in USDC.

Rationale:

Snapshot is the offchain voting platform Parallel has used since its launch: every PIP, PGP and DAO Multisig election is put to a vote there by sPRL holders. The Pro subscription funded by PGP-32 in July 2025 covered a 12-month term that expired in August 2026.

The Parallel space reads the voting power of sPRL holders on two networks, Ethereum (chainId 1) and Base (chainId 8453), through four strategies: erc20-votes and the custom prl-in-sprl2-balance on each of them. prl-in-sprl2-balance reads PRL, sPRL2 and the Balancer V3 pool and router to apply the 2.5x vote multiplier to PRL held through sPRL2, and must run identically on both chains.

Snapshot bundles full support with its premium networks, and lets a space bring a non-premium network back to premium support through the Pro plan (“support non-premium network: choose between premium or standard networks for your strategies”, Snapshot Pro features). Base was a premium network when PGP-32 was passed; it is no longer on the list, while Ethereum still is (premium networks). One of the two networks on which sPRL holders vote has therefore lost its default support, and subscribing is now the only way to keep the Base leg of the voting power calculation at the same level as the Ethereum leg.

This matters because the 2.5x multiplier applies to PRL held through sPRL2 on both chains. If the Base leg were served by the standard tier while the Ethereum leg kept premium support, holders who staked through sPRL2 on Base would be under-counted in every vote, which is precisely the segment the multiplier was introduced for.

There are two subscription options (available here):

  • Monthly subscription: $600/month (or $7,200/year)
  • Yearly subscription: $500/month (or $6,000/year)

We propose to pay the yearly subscription for 1 year, for a total cost of $6,000.

Pricing:

  • $6,000 for a 12-month term, from November 1st 2026 to October 31st 2027, i.e. $500 per month, versus $600 per month on the monthly plan: $1,200 (16.7%) cheaper than paying monthly over the same period.
  • No cost increase compared to the previous term funded by PGP-32 ($6,000 for 12 months).
  • The payment will be made in USDC by the DAO to Parallel’s contributor entity Cooper Labs, which holds the Snapshot billing account and will settle the subscription with Snapshot on the DAO’s behalf.

Means:

  • Human Resources: DAO Multisig signers will have to sign and execute the payment transaction to Cooper Labs, which will then purchase the subscription from Snapshot.
  • Treasury Resources: $6,000 in USDC on Ethereum, paid from the Ethereum Treasury Safe 0x25Fc7ffa8f9da3582a36633d04804F0004706F9b, which holds sufficient USDC to cover the payment.

Technical implementation:

  • On Ethereum, the DAO Multisig transfers $6,000 worth of USDC to Cooper Labs (0x876C4D1Bd31af0d99191fC896F15a3A97D71aaB3).
  • Cooper Labs then purchases the 12-month Snapshot Pro subscription for the parallel-protocol.eth space, starting November 1st 2026, by paying Snapshot’s payment contract (Schnaps, the only contract used for Snapshot Pro payments) at 0xE40BfEB5a3014c9b98597088cA71eccdc27Ca410, calling payWithERC20Token(IERC20 token, uint256 amount, string barcode) with:
    • token: USDC 0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
    • amount: 6000000000 (6,000 USDC, 6 decimals)
    • barcode: the barcode issued by Snapshot’s checkout for the parallel-protocol.eth space on the 12-month plan.
  • The contract performs no check on the payment itself: the subscription is attached offchain to the space referenced in the PaymentReceived event’s barcode. The barcode must therefore be the one generated at checkout for this space; a plain USDC transfer to the contract, without its barcode, would not activate the subscription.

Voting options:

  • For the Renewal of the Parallel Snapshot Subscription
  • Against / Rework the Proposal
  • Abstain

Author(s): Cooper Labs

Community poll:

  • For the Renewal of the Parallel Snapshot Subscription
  • Against / Rework the Proposal
  • Abstain
0 voters