PIP-55 Update — oSnap Deprecation & Rewards Distribution Status
As is publicly known, oSnap was deprecated by UMA as of December 15th, 2025, and can no longer execute transactions from Safe treasuries.
As a result, oSnap has been disabled for Velora, and we’ve switched to manual Safe execution as the default fallback.
A full technical report has been prepared documenting the investigation, the alternatives considered, and the reasoning behind this decision, to ensure transparency and serve as a future reference.
Important clarification
The governance process remains unchanged. We still run the scripts and submit the proposal to Snapshot. Once the vote passes, the only difference is that transactions must now be submitted manually and executed by the multisig signers.
Given the lack of a direct, multichain replacement for oSnap, this is currently the safest and most reliable approach.
A quick note on the last epoch:
The following epoch will have an APR of around 0%, as protocol fees were not sufficient to cover DAO operational costs while also generating a surplus for stakers or the treasury. As confirmed in internal discussions, this means no wETH was available for distribution, and therefore no Snapshot proposal will be submitted.
This decision follows the same financial discipline applied in previous cycles: distributions only occur when there’s surplus after expenses.