Overview of IC Chain Ecosystem Project Fundraising through SNS

The goal of the Internet Computer blockchain ( IC ) is to realize the concept of a "world computer", allowing smart contracts to run on-chain at internet 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, SNS(Service Nervous System) was launched, providing application developers with a one-click deployment DAO governance solution. The project requires a white paper and tokenomics to be approved by the majority of ICP stakers and must raise the predetermined amount of ICP in the Swap.

In the past 10 months, 11 IC ecosystem projects have completed decentralized token sales on SNS, transforming into DAOs and raising approximately $20.6 million in funding. Investors purchase project tokens and stake them to participate in project governance, indicating their optimism about the project's prospects.

The following is an overview of these projects that became DAOs through SNS:

SNS1: Transforming from Experimental Coin to Game Governance Coin

SNS1 was initially a stress test for SNS by the DFINITY Foundation.

Launch Date: December 10, 2022

Fundraising: 3141 ICP, approximately $13,800

Current situation:

• Taken over by the full-chain game Dragginz, becoming its governance token
• The development team holds 52% of the token share and voting rights.
• The token price rose from 47 ICP at the beginning of June to a recent 999 ICP, an increase of 20 times.

Future Outlook:

• Change the token name to DKP(Dragginz Karma Points)
• Do not modify the token quantity for now.
• Retain staking incentives and 52% voting rights for the team

OpenChat: Decentralized Chat Platform, "TG+DC"

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

Launch time: March 17, 2023

Fundraising: 1 million ICP, approximately 5.6 million USD

Current situation:

• Basic chat functionality improved
• Users can initiate 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
• Use CHAT to reward users for inviting and long-term use

Kinic: IC On-Chain Search Engine

Kinic is the first fully on-chain Web3 content search engine.

Launch date: June 17, 2023

Fundraising: 509,000 ICP, approximately 2 million USD

Current situation:

• Support searching IC on-chain content
• Improve through proposals and voting

Future Outlook:

• Add more content search for blockchain and decentralized storage networks
• Support advertisers to bid 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, integrating GameFi elements.

Launch date: July 13, 2023

Fundraising: 1.074 million ICP, approximately 4.7 million USD

Current situation:

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

Future Outlook:

• Launch of Creator DAO tokens
• Launch of the level NFT NPhone
• Add random airdrop blind box feature

IC Ghost: The first meme coin on the IC chain

IC Ghost is the first fully community-governed meme coin project on the IC chain.

Launch date: July 27, 2023

Raise funds: 20,000 ICP, approximately $84,000

Current situation:

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

Future Outlook:

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

Modclub: Decentralized Content Review Platform

Modclub provides AI-assisted content review and data labeling solutions for SocialFi projects.

Launch Time: August 25, 2023

Raised funds: 654,000 ICP, approximately 2.3 million USD

Current situation:

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

Future Outlook:

• Integrate artificial intelligence to improve content filtering efficiency

Catalyze: IC Version Discord

Catalyze is a SocialFi application that provides tools for community creation and management for projects.

Launch time: September 8, 2023

Fundraising: 602,000 ICP, approximately 1.98 million USD

Current situation:

• Basic community functions are mature
• Chat based on Matrix protocol

Future Outlook:

• Transfer the chat function to the IC chain.
• Add audio and video chat, NFT gating, and other features

BOOM DAO: IC Full-Chain Game Infrastructure

BOOM DAO provides a full-chain gaming infrastructure for the IC chain, including a world engine and game launcher.

Launch time: September 15, 2023

Fundraising: 408,900 ICP, approximately 1.2 million USD

Current situation:

• Upgrade tool through proposal
• Hold a blockchain game hackathon event

Future Outlook:

• Establish a game manufacturer alliance and game guild
• 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 features.

Launch time: September 27, 2023

Raise funds: 150,000 ICP, approximately 440,000 USD

Current situation:

• Temporarily disable the prediction market feature
• Posting requires a deposit of 1 ICP

Future Outlook:

• Create marketing campaign
• Upgrade UI/UX
• Add tip function

Nuance: IC Version Medium

Nuance is a decentralized blogging platform, similar to Medium.

Launch time: October 2, 2023

Fundraising: 262,000 ICP, approximately 820,000 USD

Current situation:

• Comprehensive core functions
• Improve through proposals and voting

Future Outlook:

• Increase writers' compensation and content credibility
• Add comment and tip features

Sonic:IC Early DeFi Project on the Chain

Sonic is one of the first DeFi projects on the IC chain, providing functions such as Swap, liquidity mining, and LBP new project launch.

Launch time: October 9, 2023

Fundraising: 519,000 ICP, approximately 1.5 million USD

Current situation:

• Improve through proposals and voting
• Exchange SONICX tokens

Future Outlook:

• Develop perpetual contracts
• Launch xICP protocol
• Develop on-chain dark pools