Upcoming Nuance SNS swap

Governance
43

@nicko You mentioned this about the token allocation:

30% token allocation to the founding team and seed investors

May we know who are these seed investors and how much of the 30% is allocated to each of them?

44

Thank you for considering countries outside Europe.

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45

Also adding linkedin profiles for more information:

My co-founder is not included in this list :point_up_2: as he prefers to remain anon.

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46

We deeply appreciate your ongoing support @NickM - in the darker times over the past few years, your enthusiasm has provided much-needed grit and your insight during user research has helped us truly understand what writers need (and build a better product) :muscle:.

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47

Thanks again for the insight. We have reduced the minimum participation to 10 ICP.

Based on the forum discussion so far we have reduced the min neuron stake to 999 Naunce tokens. Since we do not want participants in the swap who cannot subsequently participate in government we have reduced the minimum participation to 10 ICP - which is roughly 999 Nuance tokens. What do you think?

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48

Although the rejection cost may seem “high” - in fact this should be a fraction of what it costs to get a high-quality proposal. A high-quality proposal should be very thorough and already aligned with the community prior to being formally proposed.

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49

I think 10 ICP minimum contribution is a great choice, and the min neuron stake is inspired. It sets a great tone for meaningful participation.

50

Couldn’t agree with you more. Proposals should generate practical application & positive outcomes. As Nuance approaches SNS have already been thinking about what I may propose in the future, and the rejection fee has really focused the thinking, ie is it a selfish proposal, or one that will benefit all writers/readers.

DAO creation is an invitation to participate, and as such should be viewed as a privilege… and a responsibility (IMO).

51

What is the minimum number of contributors?

This is a nascent space, and given the ability to accrue gov tokens post SNS, have you considered toggling the number of contributors to the minimum suggested?

52

@Mitch Please hold on, I am not sure anymore if my statement is correct (my apologies). Let me confirm and get back to you.

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53

@Mitch Just to confirm: My earlier feedback was indeed incorrect. The bonus numbers are interpreted as a relative increase (this changed compared to the prior set-up and hence the confusion).

Example: For the dissolve delay bonus a value of “100%” means that the voting power will be doubled (multiplied by 2).

We are currently updating the ambiguous description in the sns_init.yaml file.

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54

Thanks @bjoernek, I will change it back to 100% in our sns.yml!

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55

Thank you, and please make sure that also the age bonus is set according to your needs (same % convention applies there).

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56

Thanks for your feedback everybody! :pray:

Thanks for your support. Big love. Let’s get this party started :partying_face:

Proposal will be made September 13 :man_bowing:

To summarize the changes we’ve made:

  • Min participation : 10 ICP - Based on feedback to lower participation cost to be more inclusive
  • Min stake : 199 tokens - To allow for reduced min participation
  • Vesting schedule neuron baskets (5) and intervals (5 months) - Based on feedback to ensure neuron basket had voting power
  • Dev neuron dissolve delay (2 months) - Based on feedback to ensure voting power was decentralized.
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57

We have structured our setup the following way:

Aikin B.V. is a Dutch-registered company. I live in the Netherlands. Our seed investors have invested in Aikin B.V. via an EPOS which is a convertible note, like a SAFE.

If the swap is successful 30% of the tokens will be allocated to Aikin and vested over two years.

A successful swap will also trigger the convertible note.

Post conversion the investors will collectively own 15% of Aikin B.V.

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58

Hi @nicko,

Part of valuing a project is understanding that project’s current user base, growth, and activity over time. Are you able to provide:

  1. Current user numbers and user numbers over time in terms of both anonymous and logged in users?
  2. Measure of activity over time (i.e. posts created, views. likes, reshares etc.)?

Also, showcasing the mechanism used to pull these stats would be helpful (if built internally).

Thanks!

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59

Can’t speak for the team, and I know this doesn’t answer all your questions, but given its the weekend… some stats to consider in the meantime.

" The Nuance production team, Aikin , consists of product, design, engineering, and marketing professionals. Since launching the Nuance Alpha in August 2021, the team has delivered more than 20 releases, consisting of a multitude of new features. Since the alpha, 3,300 authors have posted more than 3,500 articles, readers have accessed articles 155,000 times, and they have tipped authors more than 62,000 “applause”. The base Nuance blogging product is live, stable, and feature-complete. It took 2 years, $300,000, and a lot of sweat. Further funding is needed for more advanced token features, marketing, and maintenance."
Source = Nuance White Paper https://nuance.xyz/nuance/3818-zjfrd-tqaaa-aaaaf-qakia-cai/introduction

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60

Gm!

  1. How will friction be for ordinary web2 users that want to subscribe to my content on Nuance? Having to buy NFT’s with ICP on some marketplace is imho not going to cut it. They need to be able to just click a button and pay for it. Ordinary users can’t be bothered with NFT’s, marketplaces, swaps etc.
  2. Most of the next generation content platforms are extremely limited in customization. Will we be able to add own code to allow for eg advanced publications or will publishers be limited to the usual WYIWYG boxes with extremely limited features?
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61

Love this question because our design philosophy is centred around providing as close-to-web2-experience as possible. The fact that Nuance is built on blockchain should be transparent to the user - as much as possible. You will notice we use “Login” rather than “connect wallet” for example.

We have already implemented an NFT gated paywall (we have not yet designed the subscription flow but I will reach out when we do). Today in Nuance the user gets to the paywalled article, pays the fee for the NFT in one click, and then they can access the article. The user does not need to go to a marketplace. But they can only use ICP at this stage.

When a user purchases an NFT to access content via Nuance, the fact that it is an NFT is somewhat irrelevant. The user just wants to get past the paywall. But the benefit to the user is that once they have read the article, they can transfer that NFT to somebody else. Sell it. Give it to a friend. Whatever.

In our first proposal, assuming a successful SNS swap, we will be improving the UX of the NFT purchase flow.

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62

Of course, this is up to the community! One of our goals, which we hope the community supports, is to provide an unbelievably good user experience for the writing experience. So this suggestion is very much aligned and if the community supports it can be added to the backlog.

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