Proposal to create an SNS DAO for SNEED

Scam or legitimate, if I’m understanding this correctly, the ICP Dao will be voting on whether we will allow SNEED to raise 20,000 ICP via the SNS and lock-it in an 8-year neuron.
In those simplest of terms, I support the locking of 20,000 more ICP for 8-years.

I do not own any SNEED. The SNS1 should have created a meme coin called Hemingway as I suggested here: SNS-1 and how to interact with the SNS canisters - #32 by DHemingway

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I would not characterize Sneed as a “meme.”

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Please read the whitepaper. Not a meme but a store of value / payment token disguised as a meme. Already used for tipping.

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Let me be clear;
I am one of Roland Berger’s consultants who is trying to sell the corporate solutions that IC can provide.
The NNS is the gateway for the maintenance and deployment of any application.
It is a showcase in which all the projects that come out determine the reputation of the businessman who decides to trust the IC to host some type of service.
Therefore, I implore the community to start being more selective with the projects they support. Projects that do not create any value, that only play with speculation and pyramid schemes harm the ENTIRE community equally.
If you believe in IC, rethink how you want the ecosystem to be observed. We must flee from the crypto world and position ourselves as what IC, innovation and technology, is.
SNEED IS NO PRODUCT, SNEED IS NOT TECHNOLOGY. SNEED SHOULD NOT BE THE SHOWCASE OF WHAT AN ENTERPRISE THINKING OF INVESTING IN THE IC SHOULD SEE.

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I did read the white paper when it first came out. What’s the difference from being “disguised” as a meme and being a meme? What service does SNEED provide? What are they working on that requires them to crowdfund in this way? The only marginally useful thing mentioned here is

But even then we don’t even need this because this is what SNS’s are for anyway. Why do we need to go to SNEED when the SNS process already exists? I like SNEED but there is nothing valuable being proposed here. I’d take a Windoge SNS over SNEED if I wanted a meme SNS because at least they have a website that can do fun and interesting stuff. SNEED just sounds like a place for people to congregate and govern nonsense.

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Imagine serious corp coins in the NNS wallet surrounded by GHOST and SNEED (and there are more with names a lot worse) It’s a very valid concern that nobody in crypto including leading lists like CMC and exchanges has addressed - There is DOGE and SHIB next to Bitcoin and the Internet Computer and also a bunch of complete scams in top 100 nobody seems to be able to delete.
I am not a fan of meme coins and I also wonder if they should be cut out completely, but I don’t think the decision is mine to make considering there are so many of them. When it comes to ICPCoins I prefer the DAO to make that call once it’s formed. Perhaps compromises can be made and meme coins can be placed in another tab or something similar. They are not competing with other serious projects anyway and shouldn’t get mixed.

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The fact that you started this statement with “Scam or Legitimate” is equally concerning as it is telling. If you had a Known Neuron, I’d be sure to tell as many people as I could to not follow you.

Agreed.
The thing is if people want to invest in meme i dont even care. But the NNS and the SNS is a very serious application that is actually the backbone of a multibillion proyect like the IC. It is for real world and enterprise applications, NOT for meme coins.
And the community should be very serious about it as a lose in confidence can make this project sink even more, now that things are coming together and we have an opportunity to show the crypto world that there are applications other than speculation.

On the flip side, SNS is both software that provides security and a list used in dexes, wallets, and dashboards. Even meme coins can benefit from the security part. It seems to be the practice. Ethereum didn’t deny meme coins properly secured ledgers and contracts, leaving whoever bought them to be at the mercy of hackers. It’s just the list part that probably needs to be split into two so they don’t mix visually.

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Even with only ‘serious projects’ and GHOST, the NNS is getting crowded in its first year of SNS sales.

I love the idea of a categorized redesign with tabs for different token types.

I’m sure of two things in life, Scott Summers and ICP are the only things that are good locked-up. If we can lock-up 20K ICP from this launch, let’s do it, yes from me. Although I won’t participate in the SNS I do think tokens like this draw more people to the ecosystem and more investment into projects with more business focus & legitimate purpose.
Tokens like SNEED are much needed for the IC as SHIBA is needed on the ETH network. 99% of tokens are a money-grab, but they are a part of crypto. So again, Scam or Legitimate it doesn’t make a difference, it benefits the IC. I think your statement is also equally concerning as it is telling. If you had a Known Neuron, I’d be sure to tell as many people as I could to not follow you as well.

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They are not competing with other serious projects anyway and shouldn’t get mixed.

It’s quite obvious they are when they have more volume and have more liquidity than “serious projects”

It’s a very valid concern that nobody in crypto including leading lists like CMC and exchanges has addressed

To whom? You are ignoring the market demand for your own biases.

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Lets do it. Shitcoin SEERS passed

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Your outlook is very short-sighted in my opinion. 20,000 ICP is 0.00033% of the remaining supply of ICP on the market. The fact that you don’t care about the long term credibility of projects on the IC is sad to say the least but hey this is crypto :man_shrugging:t5:. Also how will SNEED becoming a DAO draw people into the ecosystem when no one outside of ICP even knows what SNEED is. SNEED is a fraction of a fraction of people in the entire cryptocurrency space. You’re also conflating ETH’s model to the IC model. ETH does not have a platform like the SNS. If you read Dominic’s post on the SNS structure and what it’s for you’d know it’s meant for projects with at least some real utility which is not showcased in the original post at all. If we had categorization of SNS on NNS then maybe I’d consider it but still there is nothing useful being discussed here. If you can provide me with an actually useful thing that will come of this I’ll consider it but until then this is silly.

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I disagree with the conclusion that market demand exists when it is solely based on a single metric without further validation through additional checks.

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Wdym? Dogecoin has been around since 2011 and hundreds of others. How much more do you need? How many years and billions of dollars do you need to prove the demand to you?

Seems like categories is just a waste of time and potentially confusing. If I make a meme coin that has some actual DApps, is it still a meme coin because it has some funny dog pictures or is it a serious project because it has some custom made dapps? Seems like these categorizations could get political.

Would be easier to just let people select what they want to appear in the wallet and order them however they wish.

You’re doing a great job. :clap:

Another problem here is that by denying projects access to the NNS managed SNS, you’re making them choose other potentially less secure routes to continue doing whatever they’re doing. Is that really better for the users you’re supposedly trying to protect?

Like trying to sell neurons, instead of just letting people do it, we make people hack their way around it to accomplish the exact same thing in a less secure manner.

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Whats the min/max purchase amount for the proposed SNS sale?

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We’ve seen examples of the use of the SNS infrastructure that were quite “interesting” to say the least from prior SNS DAOs. Providing this infrastructure at this early a stage in the ICP ecosystem is not a hedge against potential malintent.

"The threshold of Sns is specially designed for decentralized applications."For this motto, is it just a project dedicated to decentralized programs?I want to ask how many application tokens are in the crypto market.I think as long as community governance tokens can be used on sns, some people always like to promote themselves as tall.I don’t have sneed. sneed’s trading volume ranks first in icpswap in a short period of time, and I support it unconditionally.Governance tokens have become bigger, and everything unknown in the future will happen.
Don’t live in the world of “maxims”, wrap yourself in a cocoon…
@Dominic, come out and say something, what do you do?For example, can’t a project that has no products but a strong community be used online?
Or, there are products, but there are no users, and there is no market just in demand. Can such a project go online?Because it meets the needs of products, it becomes a dapp on the line.