Overview of 11 SNS Projects in the IC Chain Ecosystem

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

In December 2022, the Launchpad infrastructure developed by the DFINITY Foundation, the 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 conditions must be met, such as the white paper and token economics needing to be approved by a majority vote from ICP stakers.

In the past 10 months, 11 IC ecosystem projects have completed decentralized token sales on SNS, transforming into DAOs, raising a total of $20.6 million. Investors purchase and stake project tokens to participate in voting governance for system upgrades, smart contract upgrades, fund management, event creation, and more.

Below is a review of the current status and future prospects of these 11 projects that have become DAOs through SNS.

SNS1: Transitioning from Experimental Coin to Game Governance Coin

SNS1 is DFINITY's pressure test before the official release of SNS, with a total supply of 10,000 pieces, of which 3,141 pieces are for decentralized sales.

Launch date: December 10, 2022 Fundraising: 3141 ICP, about 13,800 USD

Current status:

• Taken over by the full-chain game Dragginz, becoming its governance token
• The development team holds 52% of the token share ( has been locked ) and voting rights.
• The token price rose from 47 ICP to 999 ICP, an increase of 20 times.

Future Outlook:

• Change the token name to DKP(Dragginz Karma Points)
• Retain staking incentives and 52% voting power for the team

OpenChat: Decentralized Chat Platform, "TG+DC"

OpenChat is an OG project in the SocialFi track of the IC ecosystem, with functionality similar to "Telegram + Discord".

Launch time: March 17, 2023 Funding: 1 million ICP, approximately 5.6 million USD

Current status:

• Basic functions are improved, supporting the initiation of SNS proposals and voting within the program.
• The number of users increased from 83,000 to 110,000

Future Outlook:

• Develop voice, video, API and other functions
• Increase the application scenarios of CHAT tokens

Kinic: IC Blockchain Search Engine

Kinic is the first fully on-chain Web3 content search engine, supporting the search of all front-end smart contracts on the IC chain.

Launch date: June 17, 2023 Fundraising: 509,000 ICP, approximately 2 million USD

Current status:

• Support searching for IC chain content
• Improve features through proposals and voting

Future Outlook:

• Add more blockchain and decentralized storage network content search
• Support advertisers in bidding for ad space using KINIC tokens.

Hot or Not: IC Version of Tiktok

Hot or Not is a decentralized short video application, similar to TikTok, that integrates GameFi elements.

Launch time: July 13, 2023 Fundraising: 1.074 million ICP, approximately 4.7 million USD

Current situation:

• Basic implementation of TikTok alternative features
• Improve the platform through proposals and voting

Future Outlook:

• Launch features such as Creator DAO and Level NFT.

IC Ghost: The First Meme Coin on the IC Chain

IC Ghost is the first meme coin project on the IC chain, becoming a fully community-governed meme coin through SNS.

Launch Date: July 27, 2023 Fundraising: 20,000 ICP, approximately $84,000

Current status:

• Complete multiple proposals, including airdrops, token burns, etc.
• Fewer marketing activities

Future Outlook:

• Develop GHOST themed NFT market and metaverse
• Launch community education programs

Modclub: Decentralized Content Review Platform

Modclub provides an AI-assisted decentralized content review solution for SocialFi projects.

Launch time: August 25, 2023 Fundraising: 654,000 ICP, approximately 2.3 million USD

Current status:

• Core features available
• Complete system upgrade and early user airdrop

Future Outlook:

• Integrate artificial intelligence to simplify content filtering processes.

Catalyze: IC Version Discord

Catalyze is a SocialFi application that provides tools for creating and managing communities for projects, similar to Discord.

Launch date: September 8, 2023 Fundraising: 602,000 ICP, approximately 1.98 million USD

Current situation:

• The basic functionality is mature, and the chat is based on the Matrix protocol.
• Complete the airdrop for NFT holders

Future Outlook:

• Migrate the chat function to the IC chain
• Develop features such as video chat, NFT gatekeeping, etc.

BOOM DAO: IC Comprehensive Chain Game Infrastructure

BOOM DAO is formed by members of mainstream projects in the IC ecosystem, dedicated to providing a complete full-chain gaming infrastructure.

Launch date: September 15, 2023 Fundraising: 408,900 ICP, approximately 1.2 million USD

Current Status:

• Upgrade tools through proposals, hold hackathons

Future Outlook:

• Establish a game developers alliance and game guilds
• Develop a framework for on-chain multiplayer games

ICX: IC Version Twitter + Prediction Market

ICX is a SocialFi project similar to Twitter, with added prediction market functionality.

Launch time: September 27, 2023 Fundraising: 150,000 ICP, approximately 440,000 USD

Current status:

• Temporarily disable prediction market feature
• A deposit of 1 ICP is required to post to prevent spam.

Future Outlook:

• Create marketing campaigns, upgrade UI/UX
• Add a tipping feature

Nuance: IC Version Medium

Nuance is a decentralized blogging platform, similar to Medium, empowering the Web3 creator economy.

Launch time: October 2, 2023 Fundraising: 262,000 ICP, approximately 820,000 US dollars

Current status:

• Core features are complete
• Content review outsourced to Modclub

Future Outlook:

• Optimize writer compensation and reader experience
• Develop comment and tip features

Sonic: Early DeFi Project on IC Chain

Sonic is one of the first DeFi projects on the IC chain, offering features such as Swap and liquidity mining.

Launch date: October 9, 2023 Funding: 519,000 ICP, about 1.5 million USD

Current status:

• Improve the platform through proposals
• Token exchange for LBP participants

Future Outlook:

• Develop new features such as perpetual contracts, LSD protocols, etc.

Note: The content of this article is for reference only and does not constitute investment advice. Please strictly adhere to the regulations of your region and do not engage in any illegal financial activities.