Upcoming ICPSwap SNS decentralization

[ICPSwap]

Hello IC fam, ICPSwap team here! We want to express our gratitude for the incredible support and assistance from the IC fam!

ICPSwap is gearing up to launch its SNS DAO and is expected to commence decentralized swaps once key milestones are achieved.

Here are some critical elements of this journey. Please take a look:

What is ICPSwap?

ICPSwap stands as the native, pioneering, and premier Decentralized Exchange (DEX) within the Internet Computer Protocol (ICP) ecosystem, providing an extensive array of financial and market services. Our users and fans may immerse themselves in the ultimate Decentralized Finance (DeFi) experience, featuring a broad spectrum of token standards trading, dedicated staking pools, robust yield farming, innovative Claim features, and more. With ICPSwap, we are nearly exploring every facet of DeFi!

ICPSwap DApp

SNS White Paper

ICPSwap Onepager

The sns_init.yaml file and audit report (We’ve successfully completed our SNS code audit with Beosin） will be released soon.

Proposed Token Distribution

Total Supply: 1 billion ICS tokens

Initially distributed:

• 48%: Reserved for the ICPSwap DAO Treasury
• 26%: Allocated for swap to decentralize governance and raise funds for the SNS.
• 9%: Allocated to the ICPSwap team and advisors with a dissolve delay of 6 months. These neurons will be vested quarterly over a 48-month period following the SNS Swap, distributed equally each quarter
• 10%: Allocated to Seed Round investors, vesting over 24 months.
• 3%: Allocated to Strategic Round investors, vesting over 24 months.
• 4%: Allocated to Private Sale investors, vesting over 11 months.

Ledger transaction fee: 0.01 ICS token

Governance

Each participant in the decentralization swap (including the Neuron Fund) will receive their tokens in a basket of 5 ICS neurons of equal value, each with dissolve delays of 0, 3, 6, 9, and 12 months, respectively.

The ICPSwap team and advisors will receive their tokens in a basket of 16 neurons, each with a dissolve delay of 6 months. These neurons will vest quarterly over a 48-month period following the SNS Swap, with equal proportions each quarter. The team and advisors will not receive any ICS tokens at the SNS Swap.

Each Seed Round investor will receive tokens in the form of a basket of 24 equal-value neurons, each with a dissolve delay of 1 month. These neurons will vest over a 24-month period after the SNS swap, with equal proportions each month.

Each Strategic Round investor will receive tokens in the form of a basket of 24 equal-value neurons, with no dissolve delays. These neurons will vest over a 24-month period after the SNS swap, with equal proportions each month.

Each Private Sale investor will receive a basket of 12 tokens in the form of equivalent neurons. These neurons have no dissolve delays and will undergo linear unlocking from 0 to 11 months after the SNS swap, with equal proportions each month.

SNS Swap

26% of the total supply of ICS tokens is proposed to be distributed via an SNS decentralization swap.

Swap participation parameters:

For more details and the latest updates on ICPSwap, you are welcome to check out our whitepaper, visit our Twitter, and talk with us on Telegram.

The updates to the Swap participation parameters, be align with the sns_init.yaml:

[Avocado]

Great tokenomics! Good luck!

[ICPSwap]

Thanks so much for your support!

[CryptoBosco]

How many ICP are you looking to raise from the decentralized sale??

[DigitalScape]

Exciting!! Best of luck!

[slq016]

Icpswap’s whitepaper is really attentive.I look forward to icpswap becoming stronger and stronger.

[RayJoe]

No sooner had this ICPSwap SNS news been announced than the spot BTC price surpassed $50,000 …

[ICPSwap]

@CryptoBosco

How many ICP are you looking to raise from the decentralized sale??

Hello, sir. Please check here:

[AslamVA]

Good Tokenomics and great timing. Looking forward to the see the SNS sale

[tomkoom]

good luck with the sale and project development!

[dellov3]

what are prices of seed, strategic and private sales?

[ICPSwap]

Hello, sir,

Our valuation cap for Seed Round, Strategic Round, and Private Sale of ICS tokens were $12mm, $24mm, and $30mm.

Thanks!

[ruslanhuman]

Wow very good news ICPSwap with more rewards .

[DigitaSoja]

I am confused about this project. I love the project but this project has stolen tokens (ICP) from innocent ICP followers who wanted to use that platform.

About two different occasions I have lost my ICPs.
My good friend whom I invited to ICP also lost couple of Tokens.

The Support on Telegram is weak with lots of scams. People barely get their tokens back after reporting to Support.

My point is this, How sure I am that this project is ready to be launched in the NNS?

Who else lost tokens but don’t have the right channels to express their frustration like I do?

Review that project before you bring it to the NNS and please pay back every canister that has lost a token.

Enjoy your weekend

@DigitaSoja
Researcher ICP Investor

….

Correction to the above post.

This is review of the above post made sometimes ago.
I want to say I was a bit hard in expressing my frustration. I understand my problems are solved and I hope other in similar situations got help to so we can all see the clean and better prospects we all supporting to see for this project.

ICPSwap did not steal my coins. I finally found my coin in a different wallet.
This experience gave me some vital education on how the ICP ecosystem works per Wallet management and Transactions. Pretty cool.

I believe with this knowledge I help other users in telegram and other ICPSwap related platforms.

I like to thank @ICPSwap tech for the patience and dedication to figure the core of the trouble is.

[ICPSwap]

Hello, sir! We are grateful for your engagement and the concerns you’ve brought to our attention. Given that this is the only post you have posted on the Forum, even over the weekend, this level of care and dedication to ICPSwap is remarkable and highly valued! We are profoundly thankful!

1. At ICPSwap, we consider the trust and security of our community members to be of utmost importance. We consistently strive to maintain a secure environment and take every piece of feedback seriously, as it helps us enhance our systems and support mechanisms. Continual improvement is our commitment, recognizing that striving for perfection is an ongoing process.

2. Regarding the issues you mentioned, please note almost all “lost tokens” are due to failed transactions, which can be recovered through Reclaim: ICPSwap
   Please rest assured that we have been supporting users in resolving such issues. While isolated incidents are unfortunate, they do not reflect the platform’s overall security and integrity. We are committed to transparent communication and diligent issue resolution.
   

   

3. We invite you to provide further details about the specific occasions of your token loss you mentioned. Please share the details of the “two occasions” you’re referring to. Your firsthand account is critical for our team to conduct a thorough investigation and assist you effectively. Similarly, we extend our support to your friends. They can also reach out to us through our official channels (TG: Telegram: Contact @ICPSwap_Official or Email: contact@icpswap.org) for personalized and accurate support.

Our commitment to creating a positive, informed, and secure environment for all users is unwavering. We value your contribution to our community and look forward to moving forward together, strengthening our project for a secure and prosperous future.

Thank you very much again for your support, and understanding, and for initiating this important dialogue. We hope you have an excellent weekend and look forward to continuing this dialogue constructively.

Warm regards!

[DigitaSoja]

Hi, thanks for your quick response

Below is a transaction details.
Transfer made from Coinbase to ICPSwap
Token reflects in my ICS balance.
https://dashboard.internetcomputer.org/transaction/d08f9ab73bba5f0a454d81d2f1cf976f5f68b5983b0f614d4329f10b61fae5c7

Image below:
When I tried to swap ICP to SneedDAO,
I got the error found in the image below.

All fund is gone, no transactions record can be found in Sneed or ICP concerning this very trade.

Claim function on ICS is empty.

No trace of any particular trade for that.

I lost an opportunity to participate in an important SneedDAO nft airdrop program.

[ICPSwap]

@DigitaSoja

Hi, thanks for your quick response

Below is a transaction details.
Transfer made from Coinbase to ICPSwap
Token reflects in my ICS balance.
Transaction: d08f9ab73bba5f0a454d81d2f1cf976f5f68b5983b0f614d4329f10b61fae5c7 - ICP Dashboard

Image below:
When I tried to swap ICP to SneedDAO,
I got the error found in the image below.

All fund is gone, no transactions record can be found in Sneed or ICP concerning this very trade.

Claim function on ICS is empty.

No trace of any particular trade for that.

I lost an opportunity to participate in an important SneedDAO nft airdrop program.

Hello sir! You are welcome! And thank you so much for providing such detailed information- your effort is greatly appreciated and helps us assist you more effectively.

Based on the information you have shared, this must be your Account ID dbb46d9ec0d7330f3aef23e05157fc8f0933a1e5c91ea697a4b69a3d1a68f400
(from the address in the “to” field of the transaction hash you provided)

From the screenshot you provided, it shows that the transaction failed at the “Approve” stage. This means that your ICP tokens have not been deducted, which only occurs at the next step, the “deposit” phase.

Upon reviewing your account on the dashboard (https://dashboard.internetcomputer.org/account/dbb46d9ec0d7330f3aef23e05157fc8f0933a1e5c91ea697a4b69a3d1a68f400),
It is confirmed that your balance is 3.4373477 ICP, and there are no records of any transfers out (deductions) of your account.

P.S. A helpful tip for your future transactions on ICPSwap: should you complete a transaction that reaches the ‘deposit’ stage and it completes, but fails to swap due to network issues or other reasons, you can always access your tokens at Reclaim: ICPSwap

We hope you continue to have a wonderful, increasingly convenient, and profitable trading experience on ICPSwap! We value your participation in our community and look forward to providing you with ongoing support.

If you have any further questions or need additional assistance, please do not hesitate to contact us.

Thank you very much! Have a fantastic weekend ahead!

Best regards!

[DigitaSoja]

Based of your explanation, I should still have my token in my wallet.

I will share my wallet here.

Also, you spoke about reclaiming. The reclaim is empty, nothing to claim.

So, where can I find my token?
ICS stole it? Or show me where to find my tokens.

Your explanation above didn’t resolve the problem or provide any cause or recovery mechanism.

[ICPSwap]

Thanks for the reply, Sir. Please don’t worry; let us solve your problem step by step.

Firstly, could you please confirm your Principal ID?

Secondly, which wallet are you using to connect to ICPSwap? Are you possibly using multiple wallet addresses but not switching between them? Based on the screenshot you provided earlier, in the top right corner, your Principal ID appears to be “uhtu …rae”. However, in your last reply, the Principal ID is “c4hn…jae”.

[DigitaSoja]

My principal ID c4hn6-fis5f-4bzbh-zboly-pow5p-a6l6y-awhf5-hkc3n-tcw2v-7mu5g-jae