Questions regarding SNS-1 name change

Governance
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As some of you may be aware, the minting of new tokens for SNS-1 holders is due to take place on 11th March. We have co-ordinated with the exchanges and carried out thorough testing to ensure we can take an accurate snapshot and credit everybody correctly. There is more information on that here - https://nuance.xyz/dragginz/4990-434go-diaaa-aaaaf-qakwq-cai/sns-1-minting-explained

That solves the first issue we had with the limited token supply.

We still hope to rename SNS-1 to DKP (Draggin Karma Points). This is purely to make the token’s use be more obvious to Dragginz game players. Like minting, it would be a one time event.

Yes, we could probably have just done our own SNS instead of taking over SNS-1 but we did not want to raise money and this way was more fun…

@lara @domwoe It was mentioned that renaming could be something that the Dfinity Foundation create as a feature for all SNS. What is the latest on this? Is it still part of the planned roadmap?

Is there anything we can do to help assist with the creation of this feature?

Thanks so much!

Donna

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Hi Donna and thanks for the request,

one downside of adding this as a regular feature to all SNSs is that it might be dangerous for SNSs to use this - changing the token name / symbol could potentially break integrations on DEXs etc.
Do you have an idea how to avoid that this is a problem on DEXs? If I have 1 SNS-1 token on a DEX, can I be sure that I would have 1 DKP token after the rename?

If the community agrees, to both unblock you but not introduce the above risk to all SNSs, we could also help Dragginz by implementing this as one-off upgrade that just changes the name in the post-upgrade for the specific SNS ledger canister (this would go through an NNS vote).
We could then take this as a test case and see how things go and still maybe later add the feature to the SNS.

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Hi Donna,

Here is a PR that builds on the ManageLedgerParameters proposal type, so that an SNS can change it’s ledger’s token-name (icrc1_name) and token-symbol (icrc1_symbol). The ManageLedgerParameters proposal type already implements the flow for how the governance canister updates the ledger’s parameters so adding these two optional settings is now straightforward.

Tagging: @msumme.

I’m looking forward for the mint btw.

:Levi.

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Hi @lara, A rename would only change the value returned by the icrc1_name and icrc1_symbol methods on an SNS ledger canister, but the ledger canister-id stays the same. If a DEX caches the token name and symbol without refreshing icrc1_name and icrc1_symbol, then that DEX will show the old name and symbol in it’s frontend but as long as the DEX uses the same canister-id, it will still be interacting with the same ledger canister as the platforms that do refresh icrc1_name and icrc1_symbol.

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Thanks @levi that is a good point and might work!
I wonder if any DEXs use the token symbol as a key in some map or similar. You are probably right that it would be better to use the ledger canister ID for all things that should identify a token, but I am just not sure if this is the case in practice.

I also wonder if it might in any case be confusing to users who probably “identify” the tokens they own based on the symbol and name shown on the frontend. So it might anyways be a good idea to try to inform to community before such a change and be valuable to try out what the reaction is before enabling the feature for all SNSs.

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Thank you @levi and @lara for your responses. In truth, I have no idea what the various exchanges use to identify the token. I have asked the ones I have contact details for and will let you know what they come back with.

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Sounds good, maybe try it

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I have had confirmation from ICLighthouse and ICPSwap that they use the ledger_id as key and just have to refresh the icrc1_name and icrc1_symbol once the change has been made.

Just waiting to hear from sonic and I think that is everyone that SNS-1 is currently listed with.

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Help me @levi in understanding this. If the name and symbol can be updated with the refresh, the cannister id stays the same. It’s a relatively straightforward process that doesn’t require Dfinity intervention?

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I think Dfinity still has to merge this in. It’s the same as this Proposal: New SNS governance proposal action: ManageLedgerParameters - #19 by levi

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So when do you guys make the proposal live for voting?

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In the latest SNS release, the SNS governance canister has specific code to set the ledger upgrade parameters for the new name, symbol, and logo for the Dragginz ledger canister.

So there is no need to add this feature in the ManageLedgerParameters proposal type, the PR is closed.

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