Upcoming EMC(EdgeMatrix Computing) SNS Decentralization Sale

Why no do this before submitting the controversial proposal ?

Thank you.

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What’s the point of changing it before swap? icrc-1 is distributed by SNS, you can’t bring your own icrc-1 into SNS! (currently EMC can consider that there is no mainnet token), there is only DIP20 token .Once the ICRC-1 token is generated, we will create a contract for DIP20 and ICRC-1 exchange, and the eco-reward contract will be updated to directly issue ICRC-1 token, and the DIP20 token will no longer be used. Yes, this will be implemented immediately after SNS.

The YAML file will be updated by tomorrow, which involves several changes:
The team has been reduced from 15% to 10% for reasons previously discussed
EMC Foundation section, previously incorrectly placed in the Airdrop section, adjusted to Treasury etc
All specifications will be filled and checked strictly according to the form provided by dfinity, and a test network for SNS has been built, engineers will run the testflight test before submitting, we don’t want to make any more mistakes.


This is not an answer. I know why you would do it ONLY after, you know it, anyone with some basic knowledge on how the SNS works knows it. BUT I will leave it be for now. Will do a live AMA about current state of the SNS and why everything is wrong with your proposal. Obviously you can’t be trusted not to bot and DDOS the event and also anyone who read this thread has a well formed opinion about you as a person so anything you promise to do after the SNS is a good old “trust me bro” . Will keep you updated.

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Hi Zack, I would like to know what’s your suggestion in specific.
EMC launched “testing” on ICP in early May with the early node participants. And EMC(DIP20) was introduced as a temporary token for node reward and presale. As the “testing” going, more and more node participants created their wallets on ICP and get EMC(DIP20) rewards. The “official ICRC-1 EMC token” refers the ledger canister deployed with EMC SNS canisters along with root, governance, index and swap etc.
So do you think is it really necessary to introduce another temporary ICRC-1 token before SNS?
Or is it proper to operate tokens in treasury before the SNS get decentralized successfully by passing OpenPublicSwap proposal and match the fund raise target?
Or am I getting you wrong?

Thanks, and BTW welcome to find EMC on twitter and talk more efficiently.


So right now you are using DIP20 canister to reward miners that you have full control over correct? It is not decentralized.

You are setting up a treasury with SNS that will be used as the official way to reward miners correct?

How will you automate that?

Will you at some point transfer burn the DIP20 tokens for treasury tokens? The reward system doesn’t seem like it is very clear to understand. It seems like it is still in design review.

Regardless at how it happens, I will just like to review the SNS file. I mean you should pay someone to do an audit of the reward system. Same goes with any project.

  1. The DIP20 canister, presale canister and node reward canister had been handed over to SNS that EMC created at the first attempting of decentralizing. We did not get the control back after the decentralizing failed because the canisters be inadvertently handed over to sns_governance which should be sns_root. Although EMC lost control of these 3 canisters, but they are working properly for now.
  2. If the second attempt of SNS succeed, we will deploy new canisters based on the official ICRC-1 Token. And stake holders of EMC should vote on proposals on registering new canisters, deposit EMC(ICRC-1) to new NodeReward canister, and canister upgrading etc. I thinks that’s “EMC managed by DAO based on SNS” means.
    At least 2 sets of canisters will be introduced: NodeReward canister(s) with official ICRC-1 token and canister(s) for EMC(DIP20) swapping to EMC(ICRC-1).
  3. The reward system indeed is complex and some adjustments have to be done after SNS:
    -switch from DIP20 to ICRC-1
    -EMC node participants been required to stake EMC(DIP20) before and they will be required to hold enough EMC(nueron) after.
    -switch reward plan from Testing to Production
  4. I believe the EMC Foundation team has the plan of providing grants for reviewing, auditing and contributing on the EMC protocol further development. But as far as I know EMC(ICRC-1) is preferred than EMC(DIP20) for the grants.
  5. SNS yaml file will be disclosed by EMC account with tokenomic sheet and necessary explanations SOON.

@cyberowl Thanks for your question and interesting in EMC.


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@zed.emc I know you guys are upset, but I genuinely want you guys to try again after 6 months with new roadmap and huge progress. I wish you all the very best. Failures are stepping stones. Please learn from it and make progress. Good luck.


Although we’ve had some rather heated verbal confrontations before, thank you for your kindness, we are happy to accept defeat, it shows that the community is not yet recognized for EMC, Dfinity has a Global R&D product demo scheduled for EMC tomorrow, I hope you’ll be able to make it.


This is real perseverance!! Famous last words: i predict that EMC’s current loss will be it’s future success.


Seriously? You guys going for SNS again?

Hi @ericyuan1024

Is this the up-to-date init yaml file and do you have a link to the up-to-date SNS Tokenomics sheet?

Update: I missed the link to the Tokenomics tool in the proposal: EMC SNS tokenomics New - Google Sheets


Moderators’s note:

@Aqq I have removed some of your comments which were flagged my multiple users. Calling something “failure” again and again across multiple messages is closer to spam than it is to the kind of reasoned arguments we want in this developer forum.


Is it not possible to ban accounts?
Is it not possible to fully delete comments?

I don’t understand what’s going on here.

Fully agree. He´s just spamming. Ban!

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Also please consider…
multi strike suspension that escalates quickly to a ban
delete comments that are off topic, inappropriate, and spam
throttle comments using a timer

There are people frustrated with forum moderation who will continue doing this until something changes. These posts are just like the spam Governance proposals last year. There was a valid agenda that the NNS was broken and a nerve was pushed until Dfinity and the community finally gave in and made a change. Please let’s make a change to forum moderation and enforce clear rules that limit the impact of people who want to destroy conversations. It’s not possible to make everyone happy, so let’s not try. It is appropriate for Dfinity to moderate the forum or hire people to do it as 3rd party contractors. Please just implement policies that make it clear to most people that it’s a civilized environment where intellectually honest conversation can occur and technical support and community assistance can be provided.

@diegop @Ang


Moderator note:

  1. I have removed many many comments from the user spamming

  2. I have sent them a warning and silenced their account for 3 months. I stopped short of permanent removal only because I am hav even trying to formalize some process of escalating moderation (still a work in progress).

  3. Some of the spam comments were not removed few days ago because we are overwhelmed sometimes and trying to catch up, but that’s no excuse.


Yes it is possible and I did. Sorry for delay

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@EMCprotocol @zed.emc, as per below tweet (EMC is about to migrate to Arbitrum.), could you please clarify what it means for your relation to ICP, EMC presale token etc?

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