Overview of 11 Decentralized Projects in the IC Ecosystem: Creating DAO through SNS

The Internet Computer blockchain ( IC ) aims to realize the concept of a "world computer," allowing smart contracts to run on-chain at network 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 DFINITY Foundation launched the SNS( Service Nervous System) infrastructure, providing application developers with a one-click deployment DAO governance solution. Over the past 10 months, 11 IC ecosystem projects have completed decentralized token sales through SNS, transforming into DAOs and raising approximately $20.6 million in funding.

SNS1: From Test Coin to Game Governance Coin

SNS1 was originally a stress test for SNS by DFINITY, and was later taken over by the full-chain game Dragginz, becoming its governance token.

Launch date: December 10, 2022

Raised Funds: 3141 ICP, approximately $13,800

Current Status:

• The development team holds 52% of the tokens and voting rights.
• The token price rose from 47 ICP in early June to 999 ICP.
• Dragginz is expected to be released in the second half of 2024 or early 2025.

Future Outlook:

• Expand the token quantity to 1 billion pieces ( postponed )
• Retain staking voting incentives and team 52% voting rights

OpenChat: Decentralization "TG+DC"

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

Launch date: March 17, 2023

Fundraising: 1 million ICP, approximately 5.6 million US dollars

Current Status:

• Basic functions are complete
• The number of users increased from 83,000 to 110,000
• Support initiating SNS proposals and voting within the platform

Future Outlook:

• Develop voice and video, API, NFT avatars and other features
• Launch membership system and user invitation rewards for CHAT application scenarios

Kinic: IC Chain Search Engine

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

Launch time: June 17, 2023

Fundraising: 509,000 ICP, approximately 2 million USD

Current status:

• Support searching for content on the IC chain
• Continuously improve through proposals and voting

Future Outlook:

• Add search for more blockchain and Decentralization storage network content
• Launch an advertising bidding model based on KINIC tokens

Hot or Not: IC Version of TikTok

Hot or Not is a decentralized short video application that integrates GameFi elements.

Launch Date: July 13, 2023

Fundraising: 1.074 million ICP, approximately 4.7 million USD

Current Status:

• Basic functions have been implemented
• Continuous improvement through proposals and voting

Future Outlook:

• Launch Creator Token Creator DAO
• Launching Level NFT NPhone
• Launch random airdrop blind boxes

IC Ghost: The first meme coin on the IC chain

IC Ghost is the first meme coin project on the IC chain.

Launch date: July 27, 2023

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

Current status:

• Complete multiple proposals, including airdrops, token burns, and more.
• Few marketing activities

Future Outlook:

• Develop GHOST themed NFT market
• Develop GHOST Theme Metaverse
• Launch community education programs

Modclub: Decentralization Content Review Platform

Modclub provides content review solutions for SocialFi projects.

Launch Date: August 25, 2023

Funding raised: 654,000 ICP, approximately 2.3 million USD

Current Status:

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

Future Outlook:

• Integrate artificial intelligence to improve screening efficiency

Catalyze: IC Version Discord

Catalyze is a decentralized community platform, similar to Discord.

Launch Date: September 8, 2023

Raised funds: 602,000 ICP, approximately 1.98 million USD

Current Status:

• The basic functions are relatively mature
• Complete NFT holder airdrop

Future Outlook:

• Migrate the chat function to the IC chain
• Develop audio and video, NFT gating and other functions

BOOM DAO: IC Full Chain Game Infrastructure

BOOM DAO provides a full-chain gaming infrastructure for the IC chain.

Launch date: September 15, 2023

Fundraising: 408,900 ICP, approximately 1.2 million USD

Current status:

• Upgrade tools through proposals, hold hackathons

Future Outlook:

• Establishing a game developer alliance and game guilds
• Develop a blockchain-based multiplayer game framework

ICX: IC Version of Twitter + Prediction Market

ICX is a SocialFi project similar to Twitter, adding prediction market features.

Launch date: September 27, 2023

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

Current status:

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

Future Outlook:

• Create marketing campaign
• Upgrade UI/UX
• Add tipping feature

Nuance: IC Version Medium

Nuance is a decentralized blogging platform, similar to Medium.

Launch Date: October 2, 2023

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

Current status:

• Core features are fully equipped.
• Continuously improve through proposals

Future Outlook:

• Improve writers' compensation and content quality
• Develop comment and tipping features

Sonic: Early DeFi Project on IC Chain

Sonic is one of the first DeFi projects on the IC chain.

Launch time: October 9, 2023

Raised funds: 519,000 ICP, approximately 1.5 million USD

Current status:

• Continuously improve through proposals
• Complete LBP participant token exchange

Future Outlook:

• Develop perpetual contracts, xICP, on-chain dark pools and other features