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.
