**DOGMI SNS-DAO Launch**

Introduction

DOGMI is the first dog-themed memecoin launched on the Internet Computer Protocol (ICP) in September 2022. It originated from the Dogfinity movement, which was an initiative to expand the IC ecosystem from 2022 to 2023. Initially launched under the EXT standard, DOGMI has since evolved to use the ICRC-1 standard.

Now, the evolution is focused on decentralizing its decisions via SNS. Yes, DOGMI is a meme coin, but it’s also a marketing machine for the Internet Computer Protocol, so its decisions and investments should be taken by the community involved in the project.

Vision

The primary goal of DOGMI is to promote the ICP and its decentralized application (dApp) ecosystem through a sustainable marketing strategy led by community decisions. It aims to foster a vibrant and engaged community that will not only attract more people to the IC ecosystem but also empower every member by valuing their voices and ideas.

DOGMI plans to use community-driven marketing and public relations strategies to ensure sustainable long-term value. Furthermore, it intends to extend its influence beyond the IC ecosystem through its own marketing initiatives. Every member and project within the IC ecosystem is given a spotlight, emphasizing the power of community in driving growth and innovation.

SNS Sale and Token Distribution

Before the SNS, DOGMI had a total supply of 246,696,969,427,890 tokens, with a liquidity pool of 4,764.48268 ICP and 50,850,359,897,982.73438 DOGMI. However, all DOGMI liquidity was removed just before the release of the whitepaper and this forum post.

The SNS token allocation is as follows:

  • 79.39% of DOGMI tokens are held by the community and will be airdropped post-SNS via a swap at a 1000:1 ratio (Old:New).

  • The remaining 25.7% of DOGMI tokens will be distributed as follows, also in a 1000:1 ratio (Old:New):

    • 5% for SNS swap, all liquid, on a single neuron with no dissolve delay.
    • 1.6% for the dev team, locked for 6 months.
    • 9.01% for the treasury, with 60% used to add to the liquidity pool and 40% used for ICP marketing purposes.
    • 5% reserved for DAO decisions on another sale, extra burning, or other.

Tokenomics

-Token Name: DOGMI

-Token Symbol: $DOGMI

-Total Supply: (Old Supply - Treasury Investment)/1000

The Treasury Investment will be allocated from the old DOGMI equivalent to 4,764.48268 ICP. The equivalent in SNS DOGMI will be burned in the first week.

The new DOGMI token will be deflationary, with 500 DOGMI burned in each transaction. Additionally, 12.5% of the treasury will be burned annually, resulting in 50% of the initial treasury amount being depleted after 4 years.

Governance and Token Management

DOGMI’s ICP treasury will be distributed as follows: 60% for liquidity pools and 40% for ICP Marketing.

Each year, 25% of the ICP treasury, and also 12.5% of the initial DOGMI treasury will be allocated for marketing the ICP ecosystem and creating some tools to ease those processes.

Some ideas for these projects are:

  • -A platform that rewards members of the community with DOGMI tokens in exchange for completing specific tasks. It should also enable the ability to receive external funds from others with aligned interests.

  • -A platform that provides retroactive grants to other projects and KOLs. This platform would feature the ability to postulate a project, multiple-choice voting to select grant recipients, among many others, as well as integrating diverse funding models, such as quadratic funding. It should also enable the ability to receive external funds from others with aligned interests.

  • -A commitment to utilize 100% of the treasury for marketing purposes.

SNS voting rewards will be offered, with a fixed rate of 1.30%. Dissolve Delay will offer a range of lock-in periods from one month to 2 years. Participants will receive a 1.10 bonus after the first bonus, additional to a maximum voting power bonus of 2.00 when locked for 2 years.

Shortly after the sale, four ICP neurons will be staked. These neurons will have different lock-in periods and bonuses, with the longest lock-in period being 3 years and the highest bonus being 100% for age and 25% for Dissolve Delay. The minimum Dissolve Delay is 3 months.

Resources and Useful Links:

5 Likes


I have this nft but not claim from long time ago
Can i claim it ans get the new $DOGMI???

1 Like

Hey DOGMI team,

I’ve a couple of questions:

  • According to the SNS Tokenomics Analyzer the developer neurons will have 100% of the voting power after the sale. Is this intended (as it very strongly violates the DFINITY voting guidelines.
  • I don’t see any links to the source code and explanation of the canisters you are handing over. I assume it’s the legacy ledger and a frontend canister, but I don’t know for sure. (Providing source code is also stated in the guidelines mentioned above.)
  • How will the swap from legacy tokens to new tokens are handled? Past meme coin projects used an audited swap canister that was also handed over to the SNS DAO.
  • How is the following codified:

The new DOGMI token will be deflationary, with 500 DOGMI burned in each transaction. Additionally, 12.5% of the treasury will be burned annually, resulting in 50% of the initial treasury amount being depleted after 4 years.

Thanks a lot for taking the time.

5 Likes

I’m interested in acquiring some dogmi, but will it go to zero?

I really do NOT want it to go to zero.

:cry:

Hey Domwoe.

First of all, thank you for taking the time to give us your feedback.

We have publicly asked via X to our community and DFINITY to vote NO on this proposal so we can fix the issues. All the issues have been solved and we will be releasing a new proposal in the next few days.

Detailed answers:

  • Corrected, it was a mistake establishing the dev neurons. Now we have 2 years vesting for both neurons, with one having a 27-day dissolve delay, and the other with a 1-month dissolve delay, resulting in an incredible 75.8% voting power for the community.

  • Source code and link to both Website and Swap canister will be added as an answer to this post in the next few days.

  • Link will be added as an answer to this post in the next few days.

  • That’s not codified in any way, this will be notified in an answer to this post so the community has clarity that it depends on the DAO vote to develop the dApp necessary to do it.

Let us know if you have other doubts.

Thank you very much. It’d be useful to share a link to the SNS init file here already before you submit the proposal, such that the community can review and discuss it.

3 Likes

Ok, we will do so once we’ll to post a new proposal

The DAO will decide the future of all the NFT related to the project

[On behalf of DFINITY]

Thanks we will be declining this one and await your new proposal.

1 Like