If multiple SNS swap rounds arenāt going to be supported in the NNS dapp launchpad, it could at least notify when SNSs are hosting their own decentralisation swaps.
Iām considering raising a motion proposal to see whether or not the community agrees with the need to make the launchpad more accommodating in this respect. Please share your thoughts
I agree with this idea. The NNS dApp should be supportive of SNS projects including after the initial launch. If multiple decentralization swaps cannot be supported by the SNS framework, then simply giving a notification seems appropriate. Iād be interested in knowing what the NNS community thinks by taking this to a Motion proposal.
In the meantime, it seems a Motion proposal would be appropriate at this time for WaterNeuron since that decentralization sale is ongoing now for the next 6 days. Since the WaterNeuron SNS controls large and growing NNS neurons, this decentralization swap is very important. Hence, Iād like to see as much advertisement about it as possible to spread the word. There is nothing like a NNS Motion proposal to catch peopleās attention.
I think the NNS dapp or any launchpad does not currently display such information because, to my knowledge, there are no standards for these kinds of things.
Are you proposing that the NNS dapp and other potential launchpads adapt to the formats of each SNS that proceeds with a swap, enabling them to display the information or even allow users to participate in such swaps directly within the dapp? Or are you suggesting that SNSes should communicate their swap formats in some way to the NNS dapp and potential launchpads so they can advertise it? Alternatively, are you advocating for the creation of a framework and standards that can be universally applied to any SNS?
This proposal is misleading and just turned into a sales pitch for people to buy into this project.
If someone swoops in and buys up all the tokens just before the end of the sale, how are small contributions to the sale going to help ādecentralizeā the project? It will still have a Centralized controller of the votes.
I think DFINITY should create a mechanism to enable SNS projects to have follow up decentralization swaps baked onto the SNS framework and presented through the NNS dApp UI. However, I would expect it to take a while before that can be developed. In the meantime, I think this proposal aims to enable a minimum set of features (e.g. text and/or urls) that allow an SNS to simply advertise their follow up decentralization swaps in the launchpad section of the NNS dApp. This would help spread the word since many folks use the NNS dApp on a routine basis.
You are right that there is a sales pitch tied to this proposal. I think itās a fair use of a NNS Motion proposal because it also includes an actionable request for an NNS change that supports SNS projects. Plus it seems fair since this feature does not already exist for the purpose of advertising follow up decentralization swaps. There was no other way to do this through the NNS dApp.
This is how all decentralization swaps work. The difference here is that there is no min or max ICP commitment since it has to be done outside the SNS framework. However, everyone is bidding on a fixed number of WTN tokens. This swap intentionally does not exclude large commitments. The reason it is so important to spread the word in as many formats as possible is to make sure that everyone knows there is an opportunity to participate. WTN already has decentralization that is better than most SNS projects, but this swap will improve it further. The more decentralization that occurs, the more likely WaterNeuron will be able to achieve significant adoption and growth as a liquid staking platform. Any previous whale will need to make another large commitment in order to keep the high voting percentage that they already control. Any new whale will need to make an even larger commitment in order to gain a higher percentage than the existing whales. Hence, from a decentralization perspective I see no down side to how this decentralization swap is being executed. There will alway be whales and itās good to have as many as possible. There will also be smaller contributors and we are being given the same opportunity to participate as any VC or whale that is also interested.
Thanks for the additional insight. That makes sense, with the small addition that I think itās not just about the NNS dapp. If a mechanism is to be developed for follow-up decentralization swaps, itās probably best if anyone can hook into it, not just the NNS dapp, hence the need of a certain standard for all SNSes, in my personal opinion of course.
A minimum feature that would preserve decentralyzation (in some ways) and security. We likely want to avoid a single actor being able for promoting, even if itās just for display purposes. we probably want to prevent any low-quality or inappropriate advertisements from being displayed as well. Just thinking out at loud.
I beg to differ, no1 s checking the NNS on a daily basis same as with the forums (i personally set up an account here few days ago, 3 years into the eco.) so this late fabrication will have little to no impact at allā¦
Maybe you should take a better look at all the proposed grants recipients, that are currently shilling memecoins on X, or sleep entirelyā¦ =))
Letās face it :
you DO NOT want large participation in this sale by anons because :
you obviously had a green light from a HUGE investor prior to proceeding with this SNS sale, so Iām definitely expecting a tokens gobble up towards the end of the sale.
You guys have less than 5 day now to set up a few hundreads of wallets and at least make it look like this SNS sale has achieved its purpose.
imo
If people wanted decentralisation, there would be proof of humainhood. and a lower maximum amount per participants.
People are just farming community funds doing SNS and using some whales that will fill up the missing gap ( you guys should open source the code making the whale to trust the process rofl ! )
In case itās not clear, the WTN tokens are not being sold for a fixed price and the commitments that will happen toward the end are not gobbling up more or less tokens. The same total quantity of tokens will be distributed to all the participants no matter how much ICP is raised. The tokens will be divided proportionally among anyone who makes a commitment.
I canāt think of any reason why someone would create multiple wallets to participate. There is no limit to the amount of contribution and the WTN tokens will not be distributed into neurons. Hence, there is no advantage to creating multiple wallets. Anyone who chooses to do that is just making it harder on themselves to manage.
I think itās quite humorous that people that were up in arms about spam proposals are all of a sudden for them when it suits there own financial incentives.
Hi all, we would like to explain why DFINITY has voted to reject this Motion proposal:
We donāt agree that āthere are no SNS decentralization swaps running right nowā is inaccurate. An SNS decentralization swap is the swap that distributes the SNSās initial voting power as part of the initial SNS launch. There were no active SNS decentralization swaps during the submission of the Motion proposal. Note that WaterNeuronās swap is a custom solution developed by the WaterNeuron DAO, which allows the DAO to swap its WTN treasury with participantsā ICP. Some community members have misunderstood that and thought that there would be an additional second SNS that is being launched for WaterNeuron. Because this is another kind of swap and not part of the SNS framework the NNS dapp does not display it. The frontend used for this custom, secondary swap is outside the NNS dapp.
In general it would be challenging to allow interacting with custom swaps or other extensions to the SNS DAOs in the NNS dapp, as it uses code that is very dapp-specific and developed outside the SNS framework, not vetted, nor approved by the NNS. Even though we have no reason to assume that WaterNeuronās swap is malicious, in general such solutions could contain bugs or be malicious code.
We also believe that motion proposals should not be used to promote individual projects.
Even though we rejected the proposal for the above reasons, we agree that for achieving thriving DAO communities, it would be beneficial to display more information about the communities in the NNS dapp. We can well imagine that links to ongoing activities, like follow-up swaps, would fit well into this topic.
This is how SNS sales always work, and it should be very clear to all who participate. It was also expected and had been predicted multiple times in ongoing discussion in the DAO Telegram group that is open to anyone and everyone.
I committed the same amount to this sale as the first sale. The rate per ICP is better than the first one, while at the same time more capital was raised this time in terms of USD (due to the relative value of ICP). In my opinion itās a great outcome. Why would you want a big slice of a smaller pie that nobody wants? Much better to have a smaller slice of a bigger pie for which there is demand and an awesome road ahead for all involved.
Yeah I guess youāre right (unless that whale now immediately dumps 17M WTN for a nice quick payday)! Congrats to the Water Neuron Team for a successful 2nd Raise SNS! Hopefully there will be BILLIONS in TVL in the future via Waterneuron! I know it is a critical defi protocol here on ICP so great job getting huge participation in it including among other projects.
