Upcoming ICLighthouse DAO(ICDex) Launch SNS

Governance
22

There is something similar, but with a different purpose. Curve’s Emergency DAO. https://curve.readthedocs.io/dao-ownership.html
This could work through the SNS as well. The SNS-governed canister hosts an SNS-elected board. The canister has a neuron, and it votes based on the board’s decision. It needs other neurons to follow the board neuron on specific generic functions, with over 50% support for proposals to be accepted faster.

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23

After the version is stabilized, it will be open-sourced and a standard UI will be provided. i think it will be easy for other eco-projects to use this module.

We will publish sns_init.yaml soon。

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24

I have been deeply thinking about this topic, and reached a different structure (that has pros and cons).

  • The SNS controls a “Board Canister” and the version uploaded to it.
  • The SNS controls “assign / unassign” of members and a “recover control of assets” custom method.
  • Assets can be under the direct control of “SNS” or “Board”. (like a non-relevant asset can be updated directly by the board, without the need of SNS intervention (but still transparent and auditable)).
  • The version uploaded, then allows it’s “assigned members” to do actions through it’s methods, pretty much a list of “pre-aproved” set of “board level” tasks.

This way, a few advantages are:

  • Members are elected and easily “swapped”.
  • The list of actions and it’s scope, are controlled and pre-approved by the SNS, but the decision and moment of it’s calling, is left to the members of the group.
  • It allows for much more custom approval process than the SNS one.

Hope it’s useful in any way. :slight_smile:

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25

Hey guys, In order to comply with the SNS launch rules, we modified the whitepaper to increase the “SNS Swap” token allocation to 30% and shed light on some of the questions that people have had.

Btw the sns_init.yaml please check here

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Hi @domwoe , for sns_init.yaml please check here

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We are very pleased to share our audit report with you: audits-public/ICDex.md at main · solidstate-auditing/audits-public · GitHub

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28

Any update on the “Testing & Verification” part ?

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Hey @simpson,

Is this still the up-to-date SNS config file? I just checked and it assigns 66.5% voting power to the developer neuron after a successful swap. I assume this was by accident.

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Hey @domwoe , Thanks for the heads up. The github version for the developer neuron is test, we’ll update the full list of developer neuron later

31

Thanks for the support, we have completed the beta testing and will be launching it as soon as possible!

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Does that mean there will still be 66.5% voting power spread out among the team of developers or that the stake of the developers’ team as a whole will be reduced?

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FYI, the proposal is now live: https://nns.ic0.app/proposal/?u=qoctq-giaaa-aaaaa-aaaea-cai&proposal=128084

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@simpson The voting power of developer neurons is very close to 50% (49.6%). In addition, a number of these neurons, which you dedicate to seed investors, don’t have a vesting period. Theoretically, these neurons could immediately raise their dissolve delay to 2 years, which would give the developer neurons (team + seed investors) 57.8% of the voting power.

In such a scenario one would expect the dev neurons voting power to be reasonably lower instead of just barely meeting the threshold.

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35

I am about to point out the same issue, There is only a max of 6 month dissolve delay for seed investors which you guys allocated 7% tokens.

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36

Hey mate @domwoe @Antony. The team and seed investors are not acting in concert, and 15% of the tokens are vesting period for 6 months.

We don’t think there is much point in controlling this percentage of voting rights, if the “team + seed investors” really want to have absolute voting power, they just need to buy a portion of the token in the “Swap”.

1 Like
37

We are still missing the open sourced frontend code

This should be mandatory in all SNS’s as we should be able to verify the frontend code as well as the backend.
Is it open sourced somewhere I am missing?

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Hey mate, this is the frontend code: GitHub - iclighthouse/ICDexUI: ICDex UI and this is the backend code: GitHub - iclighthouse/ICDex: A truly on-chain orderbook Dex.

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39

Thank you, I appreciate all the great work you guys are doing.

1 Like
41

hello-
this ICLighthouse DAO coin will be like the UNI uniswap dex token, only for DAO?
swaps will still be paid in ICP?
-thx

42

I have some ICL dip20 tokens. What should be my actions in order to perform their conversion to icrc1 tokens?