Upcoming OpenChat SNS decentralization sale

OpenChat is preparing to launch its SNS DAO with a proposal to start the decentralization sale expected soon.

This post is a forum for the IC community to discuss the OpenChat SNS and ask the founding dev team any questions.

Here are links to the proposal summary and the OpenChat SNS Whitepaper. If possible read these documents before asking questions as hopefully they will already contain many of the answers.

We have received feedback that the minimum number of decentralization sale participants configured was too low and have increased this from 100 to 500. Hopefully this will alleviate concerns the sale wouldn’t be sufficiently decentralized. If we make this too high we risk the sale failing and having to start again with different parameters.

Likewise there is a concern that a max participation of 150,000 ICP per principal is too high and we have reduced this to 100,000.

We are excited to launch the first SNS after the SNS-1 trial and by what lies ahead for OpenChat and the IC!

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:+1: Great move #Dscvr. You are willing to work

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On proposals page Adopt / reject buttons not enabled for me? How to fix?

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impressive move from dscvr and openchat!!!

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I cannot understand how can this be called decentralized sale when simultaneously is available to whales and retails buying chat tokens.
Obviously there is no way the sale ends in more than 1 minute.
So the target of 1million icp is reachable for sure.
So the fact that you insist on letting at the same time neurons with 10 or 50 icp and whale neurons, it is more than clear to me that your intentions is to be bought by certain wallets.
This is a private sale in a public sale.
If you want decentralization, then split the public sale in tiers
E.g 1st tier max 100icp
2nd tier max 1000icp
3rd tier max 10000icp
4th tier max 100000icp

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This is a great innovative for the $ICP blockchain and i am happy to witnessed it.

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Great job @DSCVR and OPENCHAT

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@dogan are you logged in?

I logged in to nns.ic0.app page with ii and checked “vote on proposals” tab and “108634” proposal not shows “adopt” / “rejects” buttons while other proposals shows these buttons. Checked from followed neurons but OpenChat’s neuron not available for following

Did your neuron(s) vote automatically because they follow other neurons? If you look at the dashboard you can see that a solid amount of known neurons already voted

Really? Why my followed neurons auto vote instead of me? Hmm, actually not logical that. A way to prevent auto voting?

Neurons automatically vote if an absolute majority of their followed neurons vote the same way. To edit you following settings you can use the instructions in this wiki article.

Thanks for your help

I think the team should vigorously popularize the concept of IC network ii identity manager before SNS. Most new users are confused about IC because they have no concept of ii, so they always confuse wallet (nns governance), OC, SWAP, etc., they are very confused why they have to use one wallet to log in to their many different dapps, and at the same time it brings more confusion about the appearance of new wallets for more dapps, but in fact because they neglect to understand the ii identity manager in the middle is the most important key components. This is the most secure key part of the IC network.

After understanding these, it will help new users to accept ICP and use OC. OC is a very good product. I predict that it will be sold out within 3 hours. In the future, 1 chat may be worth 1 ICP. I hope there will be no giant whales by then grab my CHAT purchase at once.

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i think it was the right decision

could you elaborate more on this?

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Why does it take so long to pledge? Price to become ICP?

So will the price of chat token be different among the community fund and decentralization sell buyers ??? Because I don’t understand that 0.2 to 0.4 icp price u put in your whitepaper

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“Adoption of the proposal will enable and mandate DFINITY to install the required SNS canisters on the SNS subnet.” Is this a necessary step? In other words, is Dfinity a necessary intermediary in the process of installing SNS canisters, or could OpenChat have done it independently? Do all decentralization sales have to go through a centralized intermediary?
Secondly, how can an NNS vote ‘mandate’ or force Dfinity to do anything? The NNS does not control Dfinity, does it? So, it is just that you have used the term ‘mandate’ when it actually a request which we know Dfinity will accede to?

It would be great if we could run a decentralization sale with 2 or more tiers as you suggest but this is not currently supported by the SNS and is out of our control.

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