Some questions about openChat

Question one

OpenChat claims to have received an investment of 330,000 icp from the community fund. My neurons have been in the state of joining the community fund. Has this bill been discussed? Who promised to pay 330,000 icp at present?

Question Two

How is the valuation of openChat calculated? 100W iCPs get a total of 25%. The valuation means that 400W icp… The overall market value of icp at a unit price of 6usd is 2400w US dollars.

Question Three

The pledge reward of openChat comes from inflation. Is the total amount of inflation rewarded to those who vote, or is it consistent with the current iCP voting reward?

Question Four

Who provided the original liquidity of dex? At present, there are few dex available on ic.

Question Five

The voting weight of definity and the founder of onpenChat should have dominated. Can it be clearly described before that it is the end-to-end communication protocol or communication software of the whole ecology?


@doo Most of these questions are OpenChat specific, and thus I leave it to the OpenChat team to answer them.

I can answer the first (more generic) question regarding Community fund:

  • The CF investment proposal is part of the proposal to decentralize an SNS. For OpenChat it is this proposal.
  • It is essentially a statement “Start the SNS and invest X ICP from the CF in the SNS decentralization sale”.
  • In particular, this investment is not yet secured. It is subject to voting.
  • In case that you observe that the proposal is trending yes, but wish not to participate with your CF neurons, then you can opt out and leave the CF (e.g. by unticking the CF box in the NNS dapp).
  • For further information on the CF, including a more detailed description of the different CF process steps, please see here.

When creating a sns proposal, you only need to ask the community fund to provide the required amount of icp. Will the corresponding amount of icp be paid after the community fund is passed?

If the proposal is approved and a sufficient amount is available in the CF, then yes.

@bjoernek has already answered question 1 so I’ll try to answer the remaining questions.

It’s hard to give a startup an accurate value but we (the OpenChat team) feel that the valuation range of 2-4M ICP is a good starting point from which OpenChat can grow much higher. We don’t want to overvalue ourselves because we want the early investors to do well out of their investment so that we grow an army of advocates. But equally we don’t want the price to be too low because we need to raise enough ICP to be able to grow the service for a long time without having to sell more equity.
We spoke to many industry experts when trying to come up with our valuation range and they all felt that 2-4M ICP ($12-24M) was a fair value.

New CHAT is minted as voting rewards exactly the same as with ICP.
The inflation rate is currently set to 2.5% per year (for ICP it is 5%).

The CHAT token can’t be transferred yet so there is no liquidity on DEX’s.
But after the decentralisation sale we will make a few proposals to the SNS to transfer a small portion of the treasury (both CHAT and ICP) to a few DEX’s on the IC to give some initial liquidity.

I’m not entirely sure what you are asking here, can you elaborate?
After the decentralisation sale, the dev team will hold ~28% of the voting power, Dfinity will hold ~15% and the rest of the voting power (~57%) will be held by the sale participants.


Because I am a small neuron who began to buy icp in July 2021 and pledged it on nns for 8 years, I have been using the non-login state to pay attention to the community forum. I know that the main problem with the pledge reward is actually voting before and after the garbage proposal attack of nns. Reward method, I will give an example of the last question. 1. OpenChat is a chat software like WeChat in the future, and the third party has the function of instant messaging after integration 2. If infinitySwap wants to launch a chat function to cooperate with openChat, can I use infinitySwap to chat with users registered on openChat and add friends to each other?

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