I want to follow your ICP and CHAT neurons,
Please drop them in a reply, thanksđ
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The Facts:
Itâs been a long journey here, and itâs clear that Kongswapâs prediction market hasnât gained the traction we hoped forâthereâs minimal adoption, and user engagement on even sure-shot games is low. This highlights a broader issue: the lack of a strong, active community.
To be clear, this isnât just about Kongswap or other DEXsâtheyâre doing good work and continue to build. But the reality is that the ICP ecosystem currently lacks real users. Much of the activity seems artificial or bot-driven, which is deeply concerning.
As a community member, Iâm genuinely disappointed that there hasnât been more focus or open dialogue around how to bring real users into the ICP ecosystem. I Just want to know your insights regarding how to bring people into ICP ecosystem along with shaping or restructuring SNS projects
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Dear @Thyassa , @borovan , @Leadership and everyone,
Iâm still struggling to understand what are the main issues with the current SNS framework!
Why the SNS DAOs have not produced the intended results as designed, for the benefit of the community that could accelerate growth in ICP ecosystem!
Can we all make a list of the issues and the reasons why, without blaiming anyone?
That would be a good starting point for all of us to discuss and address the challenges at the core!
Wish we all could come up with a better SNS DAO 2.0 model, a fairer system that is flexible enough to adapt to its community needs for growth and risk management!
(With community, I mean all actors that have a stake in DAO or that could influence the fate of the DAO, including Devs and Dfinity)
Very best wishes to all,
Kind regards,
Ermir 
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Yes, that is one of the things weâll all be collaborating on going forward.
I think weâre ok, the bar has been raised and the level of scrutiny on these SNS sales has increased tenfold. By the time any changes have been implemented I donât see much in the way of scams getting through.
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Iâd also add,
SNS fund raising should be done in rounds, like VC style, and tied to the delivery of each milestone in the roadmap.
Commitment should be long term for the dev team, and they should own majority stake at early dev stages!
We canât demand community commit long-term while the dev team reputation is not yet built!
Trust is built as each milestone is delivered as promised. With trust comes the commitment!
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In Support of Adam and Thyassa
In any open and permissionless governance system, using the rules as designed should never be confused with wrongdoing. Adam and Thyassa have done nothing but operate transparently within the mechanics of the SNS. They bought tokens, made proposals, and votedâexactly what every token holder is entitled to do. If that results in a DAO takeover, the fault lies with the systemâs design, not with those who participate legally and openly.
More importantly, their actions have exposed a critical truth: many SNS projects have failed to deliver on their promises, while quietly draining funds meant to build. Adam and Thyassa are not destroying the ecosystemâtheyâre stress testing it. If your project is real, delivers value, and has a committed community, youâll thrive. If it was built on hype and handouts, expect to be challenged.
As an investor, watching your SNS tokens lose value while core teams cash out monthly stipends is frustrating, if not infuriating. Adamâs willingness to spend his own money to buy those tokensâtokens others were dumpingâgave many of us a second chance to recover some of our investment. That isnât greed. Thatâs skin in the game. Thatâs commitment.
We donât have to agree with every tactic. But we should be grateful someone is âdemanding accountabilityâ when too many others stay silent. Instead of casting stones, maybe itâs time the community asked itself why it tolerated mediocrity for so longâand what it will take to raise the bar from here on out.
Thank you, Adam, for putting your money where your mouth is and standing up for a stronger, fairer ecosystem. Please keep goingâmany of us are behind you.
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Absolutely!
I think many community members now have a much more detailed understanding of the SNS process and what could and many would say should be done to change things going forward.
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Great summary and write up! 
Lets all be thankfull this is laid out when Dfinity is still in its DeFi baby shoes.
If anything, people should be more excited now for the future of ICP.
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They donât realize that Adam put his own money at risk by buying tokens from failing projects. I find their outrage hypocritical. What a wonderful âschemeâ â I wish we had 100 whales with that kind of âbadâ intention in the ICP community.
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You are kind of right, unfortunately liquidity has massively dried up in the ecosystem since I joined around 3 years ago now. We used to have consistently big mints which gave me, as an outside developer, the confidence to quit my Web2 development job and start building on the IC. I was able to follow the tech I believed in rather than having to work on another chain solely because of the liquidity that was there.
With a few exceptions (Motoko Sentinels, Ludo) this simply doesnât happen anymore, and as a result all devs have been pushed towards the SNS for survival, the NF was there to sweeten the deal, and it definitely did exactly that. Apart from the SNS there was only one other real option: going multichain, see Toniq and Dmail for examples of that.
I really hope that we can solve the liquidity problem and revive the NFT space, devs need a way to make revenue otherwise we are doomed to have projects which just eventually die.
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Yes, this is the real issue.
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If you do that, it would mean that investors wonât be able to trade their tokens until all rounds are done. General public doesnât like that in crypto - everybody wants to make quick money: buy today cheap, sell tomorrow 10x. Maybe you can change the sentiment around such a process, but it wonât be an easy job.
If you allow people to trade after the very first round, all consequent rounds will have to offer a cheaper price (otherwise, why would you buy tokens for 1.5 from the team, when you can buy it for 1.1 from the market? ofc, some real fans will do that, just to support their beloved team, but this is 1% of your community at most). If you offer them at cheaper price, it means that the price will constantly go down: people know that once the second round is finished, there will be a bunch of those who wants to cash out (because the market currently offers higher prices and than can get quick profit). Because of that your previous investors will protect themselves by exiting early, driving the price lower with their sells.
You will lose your community and your token is destined to go to 0.
Public TGEs have to happen in one round. What matters the most is what happens after.
In (some) SNS we have this additional emission - people get tokens for staking their own tokens. The inflation itself is great - it increases the market cap of a token, making it go up in various charts (and people tend to trust big MC projects more). Whatâs bad is that esentially people get tokens for free, which lowers their original entry price, which allows them to sell at profit without the price actually rising. Same goes to the SNS treasury (not ICP, SNS token) - the system implies that this treasury is for various giveaways (partnerships, marketing activities and stuff). But this means that you will be giving away these money for free, which will again lower peopleâs entry price and allow them to sell immediately, harming the price for everyone else.
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(post deleted by author)
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I just wanted to drop a note of gratitude for this thread, which is one of the more thought-provoking, and respectful threads Iâve seen. Many different opinions and facts expressed, and done so with civility. Really appreciate how the community comes together to discuss these difficult topics.
Always remember, we are blazing new trails and Iâd guess that no humans have ever attempted the level of bottom-up coordination that the ICP community is attempting. Progress will require many different viewpoints.
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Bravo to Adam and Donna for taking things into their own hands and for laying down the law in the land of lawlessness here. This was needed. Great post Donna.
This was bound to happen eventually and if I was in Adamâs position, I would do the exact same thing and maybe not even as nice as Adam has been. I could see it coming when I first saw the SNS system and how it was being run.
Unfortunately, relying on peopleâs good intentions just doesnât work esp. in crypto with lots of money at stake. Greed unfortunately can corrupt anyone, even people who initially had good intentions but those that did not have good intentions from day 1: shame on you.
George and Saikat. You guys are officially on notice! Now that youâve been exposed, you better deliver something soon! I wanted to give you guys the benefit of the doubt but I have to side with Adam and Donna here.
As for Trax, if you own 90%, you own it. You run it. You can dictate whatever youâd like. So youâre borrowing from yourself. Happy to hear youâre talking to Trax. I would like to see Trax be successful on the IC because it has potential but there is nothing wrong with requiring all SNSâs to show meaningful progress prior to them being able to transfer a single ICP from their treasuries.
You donât see Elon Musk being rewarded with his vested stock options for non-performance after all. You bring us investors value and returns and capital gains and you get rewarded. Thatâs the way it works in the real world. There are no free rides or free lunches.
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