Overview of 11 Projects Funded by SNS in the IC Ecosystem

The Internet Computer blockchain ( IC ) aims to turn the concept of a "world computer" into reality, allowing smart contracts to run on-chain at internet speed. The DFINITY Foundation hopes that global developers can create large-scale services on the IC chain in a more decentralized way and raise funds directly from the user community.

In December 2022, the Launchpad infrastructure developed by the DFINITY Foundation, SNS(Service Nervous System), went live, providing application developers with a one-click deployment DAO governance solution. To launch an SNS on the IC chain, certain thresholds must be met: the white paper and token economics must receive majority approval from ICP stakers, and the raised ICP must meet preset standards.

In the past 10 months, 11 IC ecosystem projects have completed decentralized token sales on SNS and transformed into DAOs, raising approximately $20.6 million. Investors purchase and stake project tokens to participate in voting governance for system upgrades, smart contract upgrades, treasury management, event creation, and more, indicating optimism about the project's prospects.

The following reviews the current status and future development of these projects that have become DAOs through SNS. Launching a project and raising funds on SNS is just the first step; how it grows through community participation needs further observation.

SNS1: Transitioning from Experimental Coin to Game Governance Coin

SNS1 is technically not the first official project to launch SNS, but rather a stress test by the DFINITY Foundation prior to the official release of SNS.

Total supply of SNS1 is 10,000, decentralized sales of 3,141, 1 SNS1 = 1 ICP.

Launch date: December 10, 2022

Fundraising: 3141 ICP, approximately $13,800.

Current Governance Review: The SNS1 token has been taken over by the on-chain game Dragginz and has become its governance token. The development team holds 52% of the token share, and ( has been locked up along with voting rights to ensure complete control over the game content. The price of the SNS1 token skyrocketed from 47 ICP in early June to a recent historical high of approximately 999 ICP), about 2997 USD(, an increase of over 20 times.

Dragginz, founded by the couple behind the classic web game "Neopets", will be a free-to-play, fully on-chain game that combines "pet raising" and "open world", built on the IC chain. It is expected to be officially released in the second half of 2024 or early 2025. The development team will participate in various mainstream gaming exhibitions to promote Dragginz and Web3.

Future Development Outlook: The Dragginz team announced the tokenomics design two weeks ago, planning to rename SNS1 to DKP)Dragginz Karma Points(, and on October 23, expand the token supply by 100,000 times to 1 billion.

Recently, they updated their progress via Twitter, stating that due to technical issues, they will not modify the token quantity for the time being, but retain the following two points:

• Staking SNS-1/DKP to SNS has voting governance incentives, but it is not a token reward; rather, it is some kind of reward within the game mechanics.

• The team retains 52% of the voting rights to fully control the game content and avoid repeating the mistakes of "Neopets."

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OpenChat: A Fully Decentralized Chat Platform, "TG+DC"

OpenChat is a veteran project in the SocialFi track of the IC ecosystem, which began development less than a month after the launch of the IC mainnet. It is a fully functional decentralized chat application, similar to "Telegram + Discord". In addition to basic features such as chatting, sending images and videos, and sending token red envelopes, it has also expanded to include server group features similar to Discord.

Launch time: March 17, 2023

Raise funds: OpenChat governance token CHAT has a total supply of 100 million, with 25% )2500000 ( allocated for SNS decentralized sales, raising 1 million ICP, approximately 5.6 million USD.

Current Governance Review: As a decentralized chat application, the basic functions have been perfected.

After becoming a DAO, multiple proposals have been submitted and voted on, involving website upgrades, smart contract upgrades, marketing campaign creation, treasury fund transfers, and the management of IC ecosystem project groups.

A major feature update is that users can directly initiate SNS proposals and participate in voting governance within OpenChat, without switching to the SNS website. All project groups that have launched SNS have this feature.

The number of OpenChat users has increased from approximately 83,000 before the launch of SNS to the current 110,000.

Future Development Outlook: Multiple features are under development on the OpenChat roadmap, including voice video, API, NFT avatars, and more.

It is worth noting that features on the roadmap such as "Recharge Membership with CHAT", "Reward Invitations with CHAT", and "User Reputation Reward Mechanism" are expected to increase the application scenarios of CHAT and empower it.

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Kinic: IC On-chain Search Engine

Kinic is the first fully on-chain Web3 content search engine, currently capable of searching all front-end smart contracts on the IC chain. Kinic's SEO module is powered by zero-knowledge machine learning technology, ensuring users receive the best results without any ad content.

Launch Date: June 17, 2023

Fundraising: The governance token KINIC has a total supply of 6 million pieces, with 25% ) 1.5 million pieces ( used for decentralized sales on SNS, raising 509,000 ICP, approximately 2 million USD.

Current Governance Review: • Currently supports searching for content on the IC chain. • Improve Kinic through proposals and voting governance after the launch of SNS.

Future Development Outlook: • Plan to add more content searching blockchain and decentralized storage networks, including IPFS and Arweave. • Plan to support advertising in search engine ad placements, where advertisers bid using KINIC tokens.

![An overview of 11 IC chain ecosystem projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-bcc4f31c6b70d3223942e735bedaab7a.webp(

Hot or Not: IC Version Tiktok

Hot or Not is a decentralized short video application, similar to TikTok, that integrates GameFi elements, breaking the monopoly of traditional social media through content gamification and tokenization.

The platform has two tokens: the platform token COYN) with an unlimited total supply ( and the governance token HOT. HOT holders can regulate COYN economics through SNS governance.

Users can bet COYN on the video as "Hot" or "Not Hot". The majority side wins and earns double COYN, while the minority side loses their bet COYN. 10% of COYN is directly rewarded to the creators. Users earn COYN by logging in daily.

Launch date: July 13, 2023

Fundraising: Hot or Not governance token HOT has a total supply of 1 billion, with 33% used for SNS decentralized sales, raising 1.074 million ICP, approximately 4.7 million US dollars.

Current Governance Review: After launching SNS, improve Hot or Not through proposals and voting governance.

As of the current version, it has basically achieved the goal of becoming a TikTok alternative.

Future Development Outlook: According to the white paper, Hot or Not plans to launch:

• Creator DAO: A creator token similar to Only1, where creators can initiate proposals through SNS to obtain their own tokens and funding pools. Fans purchase creator tokens, and the price increases with the number of buyers, allowing both parties to share the profits.

• NPhone NFT: A level NFT similar to Cheelee's "Glasses NFT". Each user holds one, and they can earn points to increase their level by watching videos/participating in popular bets; the higher the level, the more benefits.

• Mystery Box: A blind box randomly airdropped while watching videos, which can yield NPhone NFT, points, etc.

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IC Ghost: The First Meme Coin of the IC Chain

IC Ghost is the first meme coin on the IC chain, which became a fully community-governed project through SNS. Every GHOST holder is a stakeholder, contributing to the project's development.

Launch time: July 27, 2023

Raise funds: IC Ghost governance token GHOST has a total supply of 10 billion pieces, 20% is used for SNS decentralized sales, raising 20,000 ICP, approximately $84,000. ) has not requested community funds (.

Current Governance Review: Officially became DAO governance, completed multiple proposals in SNS, including early NFT holder airdrops, token burns, treasury transfers, etc.

Lack of marketing, only joint lotteries with KOLs and offline airdrop activities in local communities by team members.

Future Development Outlook: • Develop an NFT marketplace themed around GHOST. • Develop a GHOST-themed metaverse virtual world. • Launch community education programs, members spreading GHOST will receive incentives.

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-a81b63791ccd8739b6b9a312506af96a.webp(

Modclub: A Decentralized Content Review Platform Essential for SocialFi Projects

Modclub is a decentralized content review platform that provides fast, accurate, and scalable AI-assisted review and data labeling solutions for SocialFi projects. The platform uses a proof-of-human mechanism to ensure the security and privacy of developers and users.

Launch time: August 25, 2023

Fundraising: Modclub governance token MOD has a total supply of 1 billion pieces, 22.5% is used for SNS decentralized sales, raising 654,000 ICP, approximately 2.3 million US dollars.

Current Governance Review: Core features are now available.

Modclub DAO has approved proposals for airdrops to early users, multiple system upgrades, and smart contract updates.

Future Development Outlook: Modclub urgently needs to integrate the artificial intelligence mentioned in the white paper. Currently, developers still need to manually filter platform content, and screening "violating" content is time-consuming and labor-intensive. After integrating AI, developers can use AI to filter "violating" content, which will be more beneficial for Modclub to be adopted by more projects.

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Catalyze: IC Version Discord, Decentralized Community Platform

Catalyze is a SocialFi application that provides projects with community creation and management tools, similar to Discord.

Launch time: September 8, 2023

Fundraising: Catalyze governance token CAT has a total supply of 500 million tokens, 22.5% is used for SNS decentralized sales, raising 602,000 ICP, approximately 1.98 million USD.

Current Governance Review: Catalyze has fulfilled its commitment to airdrop users who purchased NFTs through Funded via the SNS proposal.

As a pure alternative to Discord, the basic functions such as creating communities, chatting, and creating tasks have matured. The current online chat function is based on the Matrix protocol, which is a decentralized communication network.

Future Development Outlook: • The development team is committed to migrating the online chat feature to the IC chain in the third quarter, with a beta test expected to be launched later this year.

• Features that are important for community management but have not been implemented in the roadmap include: audio and video chat, NFT gated events/meetings, agenda management tools, and sub DAOs.

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BOOM DAO: IC Full-Chain Gaming Infrastructure

BOOM DAO attracted significant attention upon its launch due to its strong development team and founding partners, all of whom come from mainstream projects within the IC ecosystem.

BOOM DAO is dedicated to providing a complete full-chain gaming infrastructure for the IC chain. In addition to templates that simplify the game development process, important tools include:

• World Engine: A game server engine built on smart contracts. Blockchain game developers can store all game logic and databases within smart contracts. Games based on the World Engine can interoperate.

• Game Launcher: A platform that simplifies game development and publishing. Developers can quickly upload games to the World Engine, publish them to the game collection, and create with one click.