SNS-1 and how to interact with the SNS canisters

Thoughts on the SNS-1 Dao launching a meme coin. Just notes - white paper still needed For these purposes will call the meme coin the “Hemingway” but I think it should be named after a “key” Internet Computer or SNS contributor, as it should.

1)This will be a 3-coin system. SNS-1 serves as the governance token of the Dao, the creator of the Hemingway, thereby the SNS-1 will also govern the Hemingway.

2)SNS-1 publicity creates tailwinds to launch the Hemingway, there is free publicity and marketing. The scarcity of not being able to own SNS-1 will drive some purchases of owning the Hemingway. It’s pure speculation to own the Hemingway, the first Dao controlled meme coin on the IC, if I’m not mistaken.

3)ICP raised from the sale of Hemingway meme coin is used to generate future returns within the ICP DeFi ecosystem and a percentage of profits will be used to buy & burn Hemingway’s on a cyclical basis as decided by the Dao. Or, my personal preference, a percentage of ICP from the initial Hemingway sale is locked :lock: in 8-year non dissolving neurons for entirety and a percentage of Maturity is used to buy and burn :fire: the Hemingway on a cyclical schedule or as determined by the Dao, or a combination of the 2. ICP ecosystem benefits by having ICP staked forever - we all want this.

Summary: We have 3 coins, SNS-1 governs the meme coin called the Hemingway. The Hemingway serves no purpose, it is a speculative meme coin. ICP generated from the sales of Hemingway are staked forever, using a percentage of Maturity to buy back Hemingway and burn it, reducing supply. This will result in a more favorable financial climate for the SNS-1 Dao so it can do more meaningful endeavors in the future, while benefiting ICP and Hemingway token holders.