FomoWell SNS Sale Investigation: ICPEx, Yuku AI Ties, Linked Wallets, Temporal Clusters

General
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Investigation Report: FomoWELL SNS Sale and Its Connections with ICPex and Yuku AI

The investigation has been divided into 3 messages due to the 32k character limit per message

Investigation Objective

The objective of this investigation is to analyze the anomalies observed in the FomoWELL SNS sale (January 2025), identify potential manipulations, and establish possible links with ICPEx SNS Sale and Yuku AI Team.

Part 1. FomoWELL SNS SALE

1. Analysis of Direct Participants Fund Sources (Contributions Over 1000 ICP)

For the analysis, only participants contributing over 1000 ICP were selected. The participant @borovan (22’168 ICP) is excluded from this analysis as his participation is not linked to the detected anomalies.

FomoWELL SNS Direct Commitments Overview

No. Address Amount (ICP) Source Comments
1 lqg4j-… 9’478 MEXC
2 2ilme-… 8’701 MEXC
3 jxagt-… 8’444 Gate
4 wbgeu-… 7’296 MEXC
5 4uuwq-… 5’201 OKX
6 aympm-… 5’064 MEXC
7 ygge7-… 4’937 OKX
8 r2gx5-… 4’687 Binance
9 j45sz-… 3’642 Binance
10 nta2n-… 3’207 Binance
11 32opp-… 2’209 OKX
12 4zaho-… 2’167 OKX
13 mvkka-… 1’660 Various Linking Wallet*
14 7jnbz-… 1’000 Various Linked with Address 13

*Linking Wallet is a wallet that connects many aspects of the investigation.

Summary:

  • 67.7% of funds (67,693 ICP) originated from 14 wallets, 12 of which are linked to exchanges (MEXC, Gate, OKX, Binance).
  • 2 addresses (No. 13 and 14) show funds from various sources. These are critical wallets in this investigation, especially Linking Wallet (Address 13).
2. Temporal Analysis of Direct Participants Transactions

Transactions were grouped by time to identify coordination patterns. The key temporal groups are summarized below:

1. Temporal Group 1

2. Temporal Group 2

3. Temporal Group 3

4. Temporal Group 4

5. Temporal Group 5

  • Address 3: 2025/01/17 04:20 PM β€” 159 ICP
  • Address 6: 2025/01/17 04:22 PM β€” 5’064 ICP
    Note: Transactions within a 2-minute window from distinct exchanges (Gate and MEXC) strongly indicate coordinated activity.

Transaction Times by Wallet (Bubble Chart)

Bubble Chart
Bubble Chart1406Γ—710 122 KB

The pale blue diagram in the background is the Distribution of Transactions by Time (based on the number of transactions; a section on this will 4. Temporal Analysis of Participants Spam Transactions)

Additional Address Groups with Temporal Gaps of 4-7 hours

  1. Group 6:

  2. Group 7:

  3. Group 8:

  4. Group 9:

Conclusion

Temporal Groups 1, 2, 3, 4, 5 exhibit suspiciously tight timeframes (≀30 minutes) between transactions involving Addresses 1 (MEXC), 3 (Gate), 5 (OKX), 6 (MEXC), and the Linking Wallet (Address 13).

3. Analysis of Direct Participants Non-ICP Transactions

WELL Token Transfers

Address Transaction Time (UTC) Amount (WELL) Destination Address Notes
Address 2 2025/03/19 02:33 3’281’252 WELL FomoWELL Liquidity Wallet Team-controlled Destination address for WELL/ICP liquidity pool on ICPSwap
Address 9 2025/03/19 02:33 1’373’607 WELL FomoWELL Liquidity Wallet Same liquidity pool operation
Address 1 2025/03/24 18:50 787’362 WELL Destination Wallet Unverified external address
Address 12 2025/03/24 18:55 3’574’364 WELL Destination Wallet Same destination, 5-minute interval

Key Observations

4. Temporal Analysis of Participants Spam Transactions

1. Distribution of Transactions by Time

FomoWELL
FomoWELL1920Γ—975 26.3 KB

Key Observations:

  • 725 transactions with small participation amounts (1–1.99 ICP) were recorded.
  • Most transactions are time-clustered, suggesting automated execution (e.g., via scripts).

2. Notable Wallets Involved in Time-Clustered Transactions

β„– Wallet Address Source Notes
1 121196d Binance 158 spam transactions
2 ac897ea Binance 173 spam transactions
3 b9bd39 Binance 161 spam transactions
4 ue3vv-… Binance, Various 160 spam transactions. Flagged as Spam Wallet

The data indicates coordinated automation (e.g., scripted transactions). Time clustering of small contributions differing sharply from organic participation seen in another SNS launches like Alice or KongSwap:

ALICE
ALICE1200Γ—600 22.3 KB

KongSwap
KongSwap1200Γ—600 23 KB

3. Spam wallet ue3vv-…

Spam wallet was also a spam wallet in the SNS Yuku AI sale and has a direct transfer to Yuku AI team wallet:

transfer to Yuku AI team wallet
transfer to Yuku AI team wallet4626Γ—216 138 KB

The first transaction received from another spam wallet fc77d… (through a sub-wallet) that participated in the SNS Yuku AI sale. Let’s note the source of funds for this wallet:

image
image2739Γ—365 130 KB

note: it will be referred to as The Key in the investigation

5. Analysis of Team FomoWELL Wallet

Two proposals were submitted by the FomoWELL team to transfer funds from the FomoWELL DAO Treasury:

Proposal Title Amount (ICP) Target Principal
Pay for Development and Marketing Expenses in Q4 2024 36’000 i25k3-…
The Fomowell development team is seeking 20,000 ICP funding from the Fomowell SNS DAO for liquidity on dex 20’000 i25k3-…

After each proposal was approved, the funds were transferred to the team address a3b09a with all funds subsequently moved to Bybit (note: no liquidity was added on Dex).

The first transaction received by the team address a3b09a:

1st transaction
1st transaction2416Γ—413 127 KB

note: it will be referred to as The Key in the investigation

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6. In-Depth Analysis of Address 14

1. Address 14 and Its Link to Address 13 (Linking Wallet)

from to tokenSymbol amount timestampUTC
dmkqr-… 05a60a… ICP 999 2023/01/14 03:24 pm
220c3a… dmkqr-… ICP 1’001.539773 2023/01/14 03:23 pm
from to tokenSymbol amount timestampUTC
dmkqr-… mvkka-… CHAT 0.15278872 2025/03/25 03:58 pm
dmkqr-… mvkka-… CHAT 327.5687851 2024/10/04 02:13 pm
dmkqr-… mvkka-… ICS 138’888.98 2024/10/04 02:13 pm
dmkqr-… mvkka-… ICL 44’999.98 2024/10/04 02:13 pm
dmkqr-… mvkka-… GLDGov 1’275.96431 2024/10/04 02:08 pm
dmkqr-… mvkka-… ICL 681.9878178 2024/10/04 02:07 pm
dmkqr-… mvkka-… CHAT 3.78189255 2024/07/16 10:12 am
dmkqr-… mvkka-… ICL 88’999.96 2024/07/16 10:12 am
dmkqr-… mvkka-… SNEED 3.33326333 2024/04/14 02:35 pm
dmkqr-… mvkka-… GHOST 299 2024/04/14 02:35 pm
dmkqr-… mvkka-… CHAT 155 2024/04/14 02:34 pm
dmkqr-… mvkka-… CHAT 5 2024/04/14 02:28 pm
4c679e… dmkqr-… ICP 0.53 2024/03/28 04:22 pm
4c679e… dmkqr-… ICP 1 2024/01/22 12:57 pm

2. Address 14 and Its Link to Yuku AI Team Wallet (c3ea21)

from to tokenSymbol amount timestampUTC
dmkqr-… c3ea21… ICP 85.91815465 2024/01/27 05:18 pm
from to tokenSymbol amount timestampUTC
dmkqr-… n2fg3-… YUKU 79’045.12318 2025/03/22 04:41 pm
dmkqr-… ska5h-… ICS 138’888.98 2025/01/04 01:20 am
dmkqr-… ska5h-… CHAT 163.7838926 2025/01/04 01:18 am
dmkqr-… ska5h-… YUKU 158’821.5633 2025/01/04 01:17 am
dmkqr-… ska5h-… ICL 1’353.832018 2025/01/04 01:17 am
dmkqr-… ska5h-… GLDGov 637.981655 2025/01/04 01:17 am
dmkqr-… gufw6-… ICL 1000 2024/05/16 10:37 am
c8309b… dmkqr-… ICP 6.87 2024/03/28 04:24 pm
c9b5a6… dmkqr-… ICP 41 2024/03/28 04:23 pm
xftwq-… dmkqr-… ICP 22.65 2024/03/13 02:45 pm
xftwq-… dmkqr-… ICP 85.90173 2024/01/26 02:04 pm
xftwq-… dmkqr-… ICP 94 2024/01/26 02:04 pm
dmkqr-… xftwq-… GLDGov 637.981655 2023/12/28 11:43 am
dmkqr-… 1912d7… ICP 77.2919739 2023/12/24 11:05 am
dmkqr-… 1912d7… ICP 10.601205 2023/10/31 09:42 am
ska5h-… dmkqr-… ICP 0.1 2023/07/27 11:57 am
ska5h-… dmkqr-… ICP 0.1 2023/07/27 11:56 am
dmkqr-… 44a3b5… ICP 1 2023/06/25 08:29 am
dmkqr-… cer66-… SNS-1 0.49997 2023/06/11 02:31 pm
cer66-… dmkqr-… ICP 1 2023/01/14 03:01 pm
dmkqr-… cer66-… SNS-1 0.48996 2023/01/14 02:32 pm
dmkqr-… cer66-… SNS-1 0.01 2023/01/14 02:30 pm

4. Owner of dmkqr-… wallet

This address is listed in the sns_init_ic.yaml file of EMC (EdgeMatrixChain) as belonging to a developer named Ping (please correct me if the name is inaccurate)

from sns_init_ic.yaml
from sns_init_ic.yaml728Γ—469 13.8 KB

7. In-Depth Analysis of Address 13

Number of transfer transactions (excluding ...-cai) received/sent to other addresses: 582 transactions (2025/03/27)

1. Airdrop hub

Address 13 (Linking Wallet) has been, and continues to be, used as a wallet for collecting airdrops from sub-wallets. For example:

  1. ckBTC Airdrop (July 5, 2024): Distributed by the Plug Wallet team:

two days after distribution
two days after distribution1604Γ—908 73.9 KB

  1. OGY Airdrop (September 12, 2024): Distributed by Origyn to Plug Wallet users:

three months after distribution
three months after distribution1628Γ—669 57.1 KB

2. The Key That Opens All Doors in This Investigation

Address 13 (Linking Wallet) exhibits cross-transactions on its sub-wallets for collecting airdrops, in conjunction with transfers to The Key:

  • Address hixho-… (this address is easily identifiable due to the presence of an ICNaming: igf.ic):

677Γ—171 6.82 KB

Address 13 is marked is green; so-called "The Key" is marked in red
Address 13 is marked is green; so-called "The Key" is marked in red1399Γ—714 174 KB

Such a transfer scheme is evident in at least 7 sub-addresses:

  1. ni7ef-…
  2. nngtl-…
  3. xofiw-…
  4. p3hqc-…
  5. rjir4-…
  6. meavt-…
  7. q5cqr-…

Out of these 7 addresses, 3 are of particular interest:
5. rjir4-…
6. meavt-…
7. q5cqr-…

image
image1074Γ—930 232 KB

3. Unique participation pattern across both the FomoWELL and ICPex sales

image
image1682Γ—594 133 KB

8. Interim Conclusions: Part 1 Findings

  1. Coordinated Wallet Network

    • Addresses 1, 2, 3, 5, 6, 9, 12, 13, 14 exhibit transactional and temporal links, strongly suggesting they are controlled by a single entity associated with FomoWELL and Yuku AI.
    • Critical evidence:
      • Address 14 (7jnbz-…) connects to Address 13 (Linking Wallet), Yuku AI team wallet and EMC (EdgeMatrixChain) team via wallet dmkqr-..., whose owner β€œPing” is listed in EMC’s official SNS configuration.

  2. Spam Transaction Campaign

    • 725 small transactions (1–1.99 ICP) were executed in clustered time windows, deviating from organic participation patterns observed in projects like Alice/KongSwap.
    • Spam wallet: ue3vv-... (160 spam transactions) participated in the ICPEX sale, also participated in the Yuku AI sale as a Spam Wallet, has a direct transaction to the Yuku AI team wallet and has a link to The Key.

  3. Gateway to ICPEx Investigation

    • Critical overlap discovered:
      • Linking Wallet - Address 13 (mvkka-…) acts as a hub for airdrops.
      • Address 13 (Linking Wallet) received ckBTC (Plug Wallet) and OGY (Origyn) airdrops from 7 sub-wallets from which transactions were sent to The Key hixho-… (ICNaming: igf.ic).

  4. Connection Matrix

Address Direct Link with Address 13 Direct Link with Address 14 Direct Link with Yuku AI Direct Link with The Key
Address 13 :white_check_mark: :white_check_mark: :white_check_mark: :white_check_mark:
Address 14 :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
n2fg3-… :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
ska5h-… :white_check_mark: :white_check_mark: :white_check_mark: :white_check_mark:
gufw6-… :cross_mark: :white_check_mark: :white_check_mark: :cross_mark:
c8309b… :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
c9b5a6… :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
xftwq-… :white_check_mark: :white_check_mark: :white_check_mark: :white_check_mark:
44a3b5… :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
cer66-… :white_check_mark: :white_check_mark: :white_check_mark: :cross_mark:
SPAM WALLET ue3vv-… :cross_mark: :cross_mark: :white_check_mark: :cross_mark:
Team FomoWELL wallet :cross_mark: :cross_mark: :cross_mark: :white_check_mark:

Part 2. ICPEx SNS SALE

1. Analysis of Direct Participants

The participants egiuz-… (6’000 ICP), zvnvx-… (1’158 ICP) and ao54i-… (1’058 ICP) is excluded from this analysis.

ICPEx SNS Direct Commitments Overview

No. Address Amount (ICP) Source Time
1 fznfr… 30’005 Bitget 2025/03/20 09:12 am
2 meavt… 17’541 Binance 2025/03/16 03:57 pm
3 e4s3u… 12’681 Bitget 2025/03/25 08:29 am
4 jusdz… 11’131 Bitget 2025/03/25 10:45 am
5 w6ezf… 10’253 Bitget 2025/03/17 04:28 pm
6 q5cqr… 10’018 Bybit 2025/03/17 07:59 am
7 kyluj… 8’157 Binance 2025/03/25 01:44 pm
8 fobuy… 7’086 Binance 2025/03/25 01:17 pm
9 nhv77… 5’653 Bitget 2025/03/24 01:43 pm
10 dgdjx… 5’250 Bitget 2025/03/24 03:14 pm
11 dkv74… 4’472 Bitget 2025/03/25 11:27 am
12 m3tvu… 3’996 Binance 2025/03/23 12:45 pm
13 rlyzr… 3’123 Binance 2025/03/23 12:21 pm
14 khb7m… 2’386 Binance 2025/03/23 03:54 pm
15 seu7e… 2’034 Binance 2025/03/23 12:02 pm
16 7bom4… 2’012 Binance 2025/03/23 11:48 am
17 63ypc… 1’892 Binance 2025/03/23 11:47 am
18 rjir4… 1’100 OKX 2025/03/16 02:09 pm
19 cnltd… 1’079 Binance 2025/03/25 06:55 pm
20 h77xz… 1’000 Binance 2025/03/25 07:43 am
21 Address 8* 507 Binance 2025/03/23 04:22 pm
22 Address 13** 339 Various 2025/03/23 03:40 pm

*Address 8 from FomoWELL SNS Sale
**Address 13 from FomoWELL SNS Sale

Summary:

  • 87.2% of funds (142’715 ICP) originated from 22 wallets, 21 of which are linked to exchanges (Bitget, Binance, Bybit, OKX).
  • 2 addresses from FomoWELL SNS Sale (Address 13 (Linking Wallet) and Address 8) participated in the sale.
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2. Temporal Analysis of Direct Participants Transactions

Transactions were grouped by time to identify coordination patterns. The key temporal groups are summarized below:

No. Address Amount (ICP) Source Time Temporal Group
3 e4s3u… 12’681 Bitget 2025/03/25 08:29 am 1
4 jusdz… 11’131 Bitget 2025/03/25 10:45 am 1
11 dkv74… 4’472 Bitget 2025/03/25 11:27 am 1
20 h77xz… 1’000 Binance 2025/03/25 07:43 am 1
7 kyluj… 8’157 Binance 2025/03/25 01:44 pm 2
8 fobuy… 7’086 Binance 2025/03/25 01:17 pm 2
9 nhv77… 5’653 Bitget 2025/03/24 01:43 pm 3
10 dgdjx… 5’250 Bitget 2025/03/24 03:14 pm 3
12 m3tvu… 3’996 Binance 2025/03/23 12:45 pm 4
13 rlyzr… 3’123 Binance 2025/03/23 12:21 pm 4
14 khb7m… 2’386 Binance 2025/03/23 03:54 pm 4
15 seu7e… 2’034 Binance 2025/03/23 12:02 pm 5
16 7bom4… 2’012 Binance 2025/03/23 11:48 am 5
17 63ypc… 1’892 Binance 2025/03/23 11:47 am 5
21 Address 8* 507 Binance 2025/03/23 04:22 pm 6
22 Address 13** 339 Various 2025/03/23 03:40 pm 6

Transaction Times by Wallet (Bubble Chart)

ICPEX Bubble Chart
ICPEX Bubble Chart1322Γ—755 79.4 KB

The pale blue diagram in the background is the Distribution of Transactions by Time (based on the number of transactions; a section on this will 3. Temporal Analysis of Participants Spam Transactions)

3. Temporal Analysis of Participants Spam Transactions

1. Distribution of Transactions by Time

ICPEX
ICPEX1200Γ—600 20.9 KB

2. Notable Wallets Involved in Time-Clustered Transactions

β„– Wallet Address Source Notes
1 8650d9 OKX 160 spam transactions
2 42796a Binance 160 spam transactions
3 74830c OKX 160 spam transactions
4 e91c1f Binance 157 spam transactions
5 788ae0 Binance 20 spam transactions (2-15 ICP)
6 9cdff Binance 16 spam transactions (3-24 ICP)
4. The Key and Its Link to Address 2, Address 5, Address 6, Address 18 and Address 20

A good key is one that opens all locks, but a bad lock is one that can be opened by any key

No. Address Amount (ICP) Source Time
2 meavt… 17’541 Binance 2025/03/16 03:57 pm
5 w6ezf… 10’253 Bitget 2025/03/17 04:28 pm
6 q5cqr… 10’018 Bybit 2025/03/17 07:59 am
18 rjir4… 1’100 OKX 2025/03/16 02:09 pm
20 h77xz… 1’000 Binance 2025/03/25 07:43 am

have direct transfers to Address 13 from FomoWELL SNS Sale (Linking Wallet) and The Key hixho-… (ICNaming: igf.ic)

1064Γ—939 265 KB

5. The Key and Its Link to Bitget Wallet: Address 1, Address 5, Address 6 and ICPEx Team Wallet

1. The Key and Bitget Wallet (1st transaction):

image
image2645Γ—377 149 KB

2. Bitget Wallet and Address 5:

No. Address Amount (ICP) Source Time
5 w6ezf… 10’253 Bitget 2025/03/17 04:28 pm

image

3. Bitget Wallet and Address 1:

No. Address Amount (ICP) Source Time
1 fznfr… 30’004.9 Bitget 2025/03/20 09:12 am

image
image1759Γ—324 156 KB

4. Bitget Wallet and Address 6:

No. Address Amount (ICP) Source Time
6 q5cqr… 10’018 Bybit 2025/03/17 07:59 am

image
image1578Γ—104 41.8 KB

5. Bitget Wallet and ICPEx Team Wallet:

Proposal Title Amount (ICP) Target Principal
ICPEx Development Fund Allocation (Q1-Q2 2025) proposal 60’000 eyzlo-…

After proposal was approved, the funds were transferred to the Bitget Wallet:

image
image1572Γ—231 103 KB

6. The Key and Yuku AI MEXC Wallet

1. The Key hixho-… and Yuku AI MEXC Wallet

image
image1727Γ—409 96.6 KB

2. Yuku AI Team Wallets and Yuku AI MEXC Wallet

Proposal Title Amount (ICP) Target Principal
Take out 20,000 ICP for liquidity on DEX (1/5) 20’000 34aix-…
2024 Q2 Yuku Development Financing Proposal 28’000 pxptt-…
Locking advisor tokens for the maximal period with a one-year cliff (4/4) 10’000 34aix-…
Budget plan for Q3 2024 29’000 34aix-…
Budget plan for Q4 2024 (1/2) 20’000 34aix-…
Budget plan for Q4 2024 (2/2) 6’960 34aix-…
Proposal for Q1 2025 Budget Allocation 1/2 15’600 34aix-…

image
image1793Γ—317 166 KB

There are also transactions from Address 13 (Linking Wallet) and the addresses mentioned earlier in Part 1, Section 6: In-Depth Analysis of Address 14:

7. The Key and Yuku AI Binance Wallet

1. The Key hixho-… and Yuku AI Binance Wallet

image
image1219Γ—212 100 KB

2. Yuku AI Team Wallets and Yuku AI Binance Wallet

image
image1992Γ—501 218 KB

There are also transactions from Address 13 (Linking Wallet) and the addresses mentioned earlier in Part 1, Section 6: In-Depth Analysis of Address 14:

Overall Conclusion for the Entire Investigation

Based on the obtained data, it can be concluded that the Yuku AI team acted as the organizer and primary participant in the FomoWELL SNS and ICPEx SNS sales. The evidence supporting this conclusion includes:

  • Connections between participant addresses: Linked wallets indicate coordinated activity.
  • Temporal coordination of transactions: Timing suggests a unified strategy across the sales.
  • Intersection of wallets: Overlaps between Yuku AI, FomoWELL, and ICPEx wallets point to a single entity.
  • Use of spam transactions: Artificial inflation of participation was detected.
  • Shared exchange wallets: FomoWELL/ICPEx Bitget Wallet, Yuku AI MEXC Wallet and Yuku AI Binance Wallet

These findings strongly suggest that Yuku AI, FomoWELL, and ICPEx are effectively the same organization. This group leveraged funds raised through SNS sales, including contributions from the Neuron Fund (NF), to extract resources from the ecosystem. A notable example is the rapid withdrawal of 60,000 ICP from ICPEx to a Bitget wallet, which had previously participated in the ICPEx SNS sale, indicating a cyclical pattern of asset redistribution.

A critical component of this scheme involves the wallet The Key hixho-…, which to have received a grant from Dfinity (1, 2, 3 - who is it?). Additionally, a wallet linked to β€œPing” from EMC (EdgeMatrixChain), identified as dmkqr-..., appears in transactions connected to Yuku AI, though its role remains unclear and warrants further scrutiny.

This conduct deceives the Internet Computer community and undermines the decentralized principles of SNS sales. The observed patterns may suggest a significant economic violation.

Additional Information. Drafts and Support
  • Drafts:
    The drafts of this investigation are available on my Miro board
  • Support:
    If you find this work valuable, please consider buying me a coffee:
    aiuxi-qgbbo-2bls4-7ac4x-suec5-bo6mm-zq6yh-asr25-iug6d-s7csv-jae

This report is intended to expose fraudulent practices and demand accountability. All transaction links provided are for transparency and independent verification.

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David to the rescue!

image
image331Γ—239 19 KB

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This is amazing, sent you another coffee machine.

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Yuku and ICPEx teams are both from China as i remember, thats why they use similar exchanges. Problem with neuron fund is that when its enabled, everyone can cooperate with each other, one project asks other to attend in sale, than promises to give back ICP that comes from neuron fund and same time can keep project SNS sale tokens.
Most projects that has neuron fund sale will take advantage of it.

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As a newcome just joined the ICP ecosystem not long ago, I have thought the combination of ICP and AI is exciting, but the monetization paths and the benefits are not obvious. I think there are some problems with this ecosystem and developers. The support path for developers is not clear. I have communicated with some HUBs, and they don’t know about developers very well, or even ICP. As their investors, I put a small amount of ICP in their SNS. I think the projects mentioned above should add liquidity quickly, and then go listing. They should put the benefit of investors in the first place.

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@4eku greatly appreciate the thorough analysis provided here. We are extremely puzzled and disappointed by the situation, as the Neuron Fund contributions are intended to support genuine projects. If certain actors are attempting to game the system, they are clearly diverting funds away from those real projects.

In light of this, we propose the following:

1: We call on all SNS teams mentioned here to explain their actions and encourage SNS participants to halt any further treasury transfers until they are satisfied with the provided explanations.

2: Earlier this week, DFINITY proposed a motion to pause the Neuron Fund. We strongly encourage the community to support this proposal: https://dashboard.internetcomputer.org/proposal/135970.

Until these matters are fully resolved, DFINITY plans to reject any SNS proposals requesting a contribution from the Neuron Fund.

3: As a community we need significantly more stringent guidelines for SNS projects. We are planning to propose new guidelines that expect a clear pre-commitment and adherence to milestones before any treasury transfers. We also invite the community to propose ideas for how we can collectively create a system that discourages any attempts to gamify the process.

We believe that by working together, we can ensure the Neuron Fund serves its intended purpose and supports only the most genuine and impactful projects. Thank you for your contribution here, and we look forward to collaborating with the community to resolve these issues at the earliest.

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Is Gold DAO related to them? (Heard some rumors)

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They seem to be tied to Cecil DAO as well. Isn’t that Dom’s mate?

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An SNS auditor and a community manager who gets involved in getting to know as many projects in the ecosystem as possible would go a long way to help stop these sorts of things.

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Where there is one, there are many.

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Forgive my crude opinion：

  1. For successful SNS in the past, check the code, users, and social media activity. If they no longer contribute to the ICP ecosystem and its investors, you can consider delaying the release of some funds until they recover.
  2. Specify the standards for projects to be listed on SNS, technical thresholds, code workload or users, to ensure that SNS projects have basic decency.
  3. Open the ecosystem and welcome developers from other ecosystems to join the ecosystem. In the view of some fantasies, I think there will only be two chains in the future, one is BTC and the other is ICP. I think ICP is truly likely to optimize the entire blockchain industry.
  4. Support for developers is the key to the prosperity of the ecosystem. Funds support should be released very cautiously, but users and brand support can be slightly more relaxed.
  5. Open two basic bounty or grant tracks
  • Technology-oriented establishment of technical bounties or grants: For problems that the foundation and Web3 trends need to solve urgently, set up bounties.
  • User- or market-oriented establishment of grants or bounties: I mean the users that this project brings to the ICP ecosystem, not ICP’s own brand
  1. Regularly provide monetization or user growth suggestions to developers or projects
  2. Regularly hold community pitch calls, hosted by respected people like you, and new projects will be roadshowed in a relatively open way, such as zoom. I think it is reasonable to hold it once a month. You can connect with capital or KOLs to roadshow together. Let the foundation become a warm supporter to help the project party.
  3. Set up official capital, like Binance Labs, invest and incubate projects in public and wisely.
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I also heard GOLD DAO and Yuku are related but I cant remember where.

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@4eku Hi 4eku and everyone who care about ICP ecosystem, I am Tiger.

First of all, let me introduce myself. I led the development team in Asia to develop Yumi NFT marketplace and Shiku Metaverse in the IC ecosystem in 2021 - 2023. At the beginning of 2024, Yumi and Shiku strategically merged as Yuku. I took full control of it and restructured the whole team until now. As an OG of ICP ecosystem, especially in Great China, I think most of the projects and their members know me very well, because I have helped, supported, invested, or cooperated with ICP projects more or less, such as ICPSwap, ICLighthouse, EMC, MetaBox, Mora, Bitomni, Dmail, CCC-protocol, Astrox me, ICPEx, ICPanda, FomoWell, Omnity, Bydao, ICPhubs, etc.

Secondly, I, myself, have participated in the FomoWell and ICPEx SNS fundraising. In addition, I am a long-term believer of ICP. I would like to help the ICP ecosystem related projects as much as possible. I believe that ICP could be great again. So, I also invested in Me Wallet, Sneed, ICPSwap, EMC, ICLighthouse, OpenChat, Dmail, Gold DAO, ICPanda, Deland Labs, Cloud, DOD, etc.

Please forgive my english as I am a non-native speaker. But I will try my best to address all the concerns from the community.

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What’s your real name then, Tiger?

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Hi Farat, Sorry, I can not tell your my real name. Many people in China, knew me, saw my face, visited my office. I also joined many icp event in Asia in the past 4 years. also visited to ICP Headquarters in Switzerland

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It’s alright by me. If anything, the blame lies squarely with DFINITY, they created this honeypot and are now trying to wash their hands of it. The founders are simply looking to build and seize every opportunity that comes their way.

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Nothing but crickets from the usual swamp defenders since this dropped… also nice to be unbanned after a week.

Thank you @4eku

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