Bitcorn Labs Decentralization Discussion: why how and should?

Governance NNS proposal discussions
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1

How boutta sns?

With the advent of sneed daos neuron https://dashboard.internetcomputer.org/neuron/4000934039483276792

And it’s recursive liquidity loop,

Bitcorn labs is considering an sns to

A) generate Icp to help seed the above sneed dao neuron

B) decentralize governance and maintenance of the three main dapps of Bitcorn (Bitcorn.dev) and increase their security:

Corn explorer
https://suemn-5aaaa-aaaap-qb62q-cai.icp0.io/

Dragon Wizards
https://e4tvt-6yaaa-aaaao-a3sdq-cai.icp0.io/

Rehasher
https://vomxe-siaaa-aaaas-aidqq-cai.icp0.io/

C) create a small treasury for Bitcorn labs (dao)

Our thinking for the sns Launchpad would be:

95% raised Icp is sent programmatically to sneed sns neuron to be staked for 8 years to benefit the sneed dao rll (8ac01fc1aa7817c232ba1f115bdb2161974ff67e0254cab3a1868a65b74db9a4)

3% raised buys and stakes sneed to create an sns controlled sneed neuron where Bitcorn Labs Dao voters can vote on sneed proposals. Bitcorn dao would configure its sns to mirror sneed proposals with a shorter voting interval. Bitcorn dao members would be able to initiate Bitcorn dao proposals as normal as well as vote on sneed dao props with their neuron

2% raised stays in Bitcorn dao treasury to help the project as the dao decides.

Caveats:
-Bitcorn token would require a swap of current users
-substantial engineering to create the mirror of sneed dao proposal with shortened voting interval
-potential lack of need for this sns as it as the community feels like these dapps don’t need to be decentralized and or register to sneed dao and or no community intererest.
-WTN successfully has a second sale within the one sns framework, and maybe this sort of endeavor would behoove us better.

TIMELINES:
Because of the engineering involved and the current workload of Bitcorn engineers, the SNS would have to occur no sooner sometime early 2025

We would like to hear some Input from people we have learned everything from but not limited to:
@icsneed @infu @rem.codes @skilesare @radu @borovan @bobdotfun @Snassy-icp @chepreghy @wpb

2

The two repositories for the rehasher and for dragon wizards are below.

Rehash Dapp:

Dragon wizards:

The Bitcorn Explorer repository will be open sourced as soon as possible.

Both The Rehasher and the Dragon Paladin Wizards utilize the pan industrial implementation of the ICRC1/2/3 token standard which can be found below

We will post an sns YAML in the comming days for review. We plan on using the @Dogmi fork of the @icsneed sns dapp to proceed with the sns.

We are willing and expect criticism and security concerns.

Thank you.

3

Hello @Henry_Suso:

95% raised Icp is sent programmatically to sneed sns neuron to be staked for 8 years to benefit the sneed dao rll

  1. Why would you need to send so much ICP of the funds to the Sneed SNS Neuron? It sounds like you would like to be a Blank Canvas DAO using Sneed. I haven’t looked into what being both a Blank Canvas DAO AND SNS would look like.

  2. The Corn Explorer, Dragon Wizards, and Rehasher all seem like different products to me.

  3. Is this proposal meant to assess if you would like to become an SNS? Or is it showing intent to become an SNS?

Please follow this checklist if you would like to show intent to becoming an SNS>

4

Bitcorn labs intends to become an sns.

“Bitcorn Labs delivers dynamic and innovative open sourced dapps and solutions for the internet computer”

We have done a decent amount of engineering on behalf of sneed dao and would like to be able to utilize the sns framework ourselves to continue to work with sneed dao, @infu and other projects within the parameters of offering innovative and experimental opensource dapps. We plan on setting the minimal commitments for the swap as low as possible (@corntoshi and I have discussed as low as 10 Icp) because the intent is not to solicit large sums of capitol but give us our own sns framework to utilize and register dapps to. The solicitation to send Icp to sneed dao neuron is because we strongly believe in the project and want to offer swap participants the opportunity to contribute to what was a large feat of engineering by multiple teams.

We intend to register the three dapps to the sns if it were to pass.

Here is our in progress yaml:

5

Someone came up with a number ~10$ a day to keep SNS canisters up. That would be ~10950$ for 3 years. If you keep only 2% of raised ICP inside treasury, the launch needs to raise ~547,500$ to make sure it will have enough to refill canisters.
What does Bitcorn DAO get for sending 95% of the raised ICP to Sneed?

6

Bitcorn labs will donate cycles to maintain the sns. If this is integral to the Launchpad being approved, we are willing put a set number Icp in escrow for this purpose.
We currently have topped up our dapps with a significant amount of cycles to maintain them at current usage from @corntoshis calcs 6 months.

I do no assume that any dapps we offer or register to the upcoming swap to provide a return or premium: so I completely understand this question.

So the true answer is that btc labs will operate either net neutral or at a loss as team (me) will keep the canisters maintained.

Our end goal is an sns framework to develop on in ways sneed dao cannot. Bitcorn will be much more agile and experimental.

7

Sneed dao and Bitcorn labs exist (in my mind) as a synergistic environment. Our own sns would allow us to work closer with sneeds canisters and create Novel and experimental things as time goes on.

8

If you just want to use the SNS framework to experiment, maybe put the sale of 0.1% of tokens for 1ICP (if NNS will allow that) (But then the fair distribution that comes with SNSes is no more)
If you make a launch without Bitcorn DAO keeping its ICP, then the problem would be - something will hang around the launchpad where people who hit swap will be kind of donating it to Sneed, which could be by mistake.

9

This is all reasonable. We need to think about this better.

10

Can you please adjust this forum post to have the similar format and include everything listed in the checklist? Thank you!

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