Hi everyone
Today, we have some exciting news to share about changes to BOOM DAO’s tokenomics and valuation that are all about the community. These changes have been carefully crafted to be a win-win for everyone involved, from BOOM DAO and the ICP gaming community to the broader ICP ecosystem. In implementing these adjustments, we also hope to establish elevated benchmarks for forthcoming SNS launches.
Our actions are always guided by a steadfast commitment to the long-term wellbeing of the IC ecosystem. Here is an overview of the decisions we have made:
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The minimum fundraising threshold has been significantly reduced from 600,000 ICP to only 400,000 ICP. Upon reaching this revised minimum, the fully diluted valuation of BOOM DAO will stand at just 1,000,000 ICP. It’s a valuation we believe is very reasonable for a project that is actively developing the ICP gaming vertical, complete with a suite of functional gaming tools and protocols that are being adopted by an increasing number of gaming developers.
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Instead of asking for 320,000 ICP from the Neuron Fund, we’re now seeking 240,000 ICP. This amount constitutes only 5.7% of the Neuron Fund’s holdings at the time of writing, significantly below the average request. This move is a big deal for all of us, as we collectively recognize how crucial the Neuron Fund is in propelling the entire ICP ecosystem forward.
We hold a strong belief that lower valuations for SNS launches and reduced Neuron Fund requests will create a robust and sustainable funding mechanism in the long-term, while also driving much greater participation from stakeholders and investors in the SNS short term.
These changes have been strategically enacted with the best interests of the community and the ecosystem in mind. Our aspiration is that they will serve as an inspiration for future SNS projects to follow.