SNS-1 and how to interact with the SNS canisters

This is an exciting week! More than a year after we first started discussing the SNS idea with the community, this week the first SNS canisters were installed on the SNS subnet!

Why SNS-1
SNS-1 is envisaged to be an experimental DAO owned and driven by the IC community with two main purposes. First, SNS-1 is an experiment to test the SNS canisters in production while including the whole community in a fun experiment. Second, SNS-1 educates all users how an SNS launch works.

Where are the SNS-1 dapp and SNS canisters?
This Wiki article provides more information about how you can interact with the SNS-1 dapp, which is being decentralized in this process, as well as with the SNS-1 canisters. We invite everyone to play around with the canisters and inspect their initial setup.

Where are we in the launch process?
The detailed SNS launch process is described here. In the first step, that happened this week, the SNS canisters were installed and the dapp’s control was handed over to the SNS DAO. As in every SNS launch, the next step is an NNS proposal that proposes to start a decentralization sale for the SNS.

This NNS proposal has a new topic which is called “SNS & Community Fund”. The default following of all neurons for this topic was set to the same default following as for the topic “Governance” as this is the most decentralized setup. This setting can of course be changed by each NNS neuron.

Call to action
To decide whether to adopt or reject the NNS proposal to start the sale, NNS neurons are asked to inspect the SNS canisters, their initial settings, and the proposal that determines the conditions for the initial sale.

The first two steps can already be done now. We thus invite everyone to already have a look at the SNS canisters and inspect their initial setup. Especially, we invite the known neurons to do so as they will likely have followers for this proposal as explained above.

The initialization
The SNS token and the initial distribution have been shared here. Let’s recap them for reference and add some more details regarding how the tokens are handed out.

The SNS-1 token:

  • Token Standard: ICRC-1
  • Token supply: 10,000
  • Token inflation: 0 %
  • Minimum dissolve delay to vote: 1 month

Initial token distribution:

  • 3860 Airdrop tokens - in neurons with a dissolve delay of 1 month
  • 50 tokens for Ludo (token design) - in a neuron with a dissolve delay of 1 month
  • 12 tokens for 12 SNS developers (to send relevant proposals) - one neuron for each developer with a dissolve delay of 1 month each
  • 3141 Tokens sold in the decentralization sale - will be handed out in baskets of neurons to the sale participants after a successful sale
  • 2937 Tokens in the SNS governance’s treasury

You can check these numbers by looking at the neurons in SNS-1 governance and ledger canister. All the neurons for the developers and airdrops are already in the governance canister. Right now they just have limited capabilities as the governance canister is in pre-decentralisation sale mode. (Note: in the future this will likely be changed and airdrop neurons will only be created when the sale neurons are created - we will share a proposed design once available.)

You can also inspect the SNS governance’s ledger account which holds the treasury and the SNS decentralization sale’s ledger account which holds the sale tokens.

You can find the details on how to do so with the dashboard or dfx here.

We hope you have as much fun as we do seeing the first SNS canisters in action and playing around with them! Please let us know if you have any questions as we would like to encourage as many people as possible to follow and learn about this process!

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History is being made. Can’t wait for the sale to begin!

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Let’s go :rocket::rocket::rocket: time to change the game is here

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When can I participate in the public sale of sns

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Now waiting for SNS. Open sales, we all hope that SNS can lead ICP to prosperity

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we all hope that SNS can lead ICP to prosperity

When could we expect the sale to go live? I missed the airdrop so I just want to make sure I don’t miss the sale

What is the dissolve delay time for neurons by SNS-1 Token sale?

Is it one or more neurons that participate in the sale of SNS-1 Token?

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No one can answer to question?

sns1 public hardtop recommended 1 million ICP

Hi all,
just wanted to clarify this about the SNS launch process: we don’t know exactly when the sale will start. An NNS proposal is submitted and, if it is adopted, the sale will start when this proposal is executed. Since the voting period of an NNS proposal can be between zero and 8 days we don’t know for sure when this will be.

We will let you know when the proposal is submitted!

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The dissolve delay for the neurons that you get as a result of participating in the sale will be defined in the NNS proposal that starts the sale, so they are not defined in the canisters yet and are part of what is voted on.
Whoever submits the proposal can specify a basket of neurons, which means that each sale participant will get not only one neuron but will get their tokens distributed accross multiple neurons with different dissolve delays.

Is it one or more neurons that participate in the sale of SNS-1 Token?

You don’t need a neuron to participate in the sale. You can participate with a principal that just has ICP in a wallet!
If you meant how many SNS neurons you get in return, then the answer is what I mentioned above, namely that this will be determined in the proposal.

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Could you announce the maximum public sale amount?

Parameters like the max investment amount will be specified as part of the decentralisation proposal of SNS-1. We plan to share updates on this very soon!

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All details on the decentralization sale for SNS-1 are in this proposal.

Please have a look and vote!

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I understand that the maximum share per principal is 1 ICP. After accepting the offer proposal I just need to send 1 ICP (+ transaction cost 0.0001 ICP) from the main account with liquid ICP? Is it possible to pay with the maturity of a neuron? I ask because I want to be faster than others, prepare myself and have a chance to buy tokens for myself :grin:

Hi folks. I have a question about SNS-1: it is supposed to be experimental and will have not many functions. Why are people so obsessed with buying the token?
Perhaps I missed something?

I assume 8yeargang will have priority access to future SNS launchpads.

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This is the genesis of SNS. The desire to own a token, a similar question to why people value BTC better than ETH. He was just the first :melting_face:

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Experimental, but it is a real Dao. The holders of SNS-1 tokens can deliberate and vote to make it into anything. We are writing the future.
Personally, my fellow SNS-1 token holders, we are at the precipice, we can stand and do nothing, holding only a symbolic token of being first. We can also use this Dao to transform into greatness. I believe we vote to create a meme coin controlled by the SNS-1 Dao, this should generate additional funds for the Dao for future endeavors and will be the first step to our greatness. We should not rest on being first.
The IC is One Blockchain to Connect Them All… blockchains, friends, adversaries, all man-kind.

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