Tracer is governed Tracer DAO, which empowers governors (people or stakeholders that own governance tokens) to decide on changes to the protocol from anywhere in the world without a point of central control. Tracer DAO uses democratic voting to keep decisions fair and all its rules are open – they can be seen in the governance contract here.
Tracer DAO owns the Factory contracts and their market templates. It can change these, and some tracers (only the markets that specify DAO control), through a vote. A vote can also change the governance contract if the governors choose a new voting system or want to update some of the rules.
Snapshot is a “gasless” off-chain multi-governance client that allows Tracer DAO governors to vote on proposals without paying gas fees. Proposal consensus is then pushed on-chain via a Gnosis Safe multi-sig.