Upcoming Sonic SNS decentralization sale

You are aware that the original founders left sonic and the people in charge now have taken over for about 3 months now (based on their commits)

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Good point to consider

I am making no comment or judgment on Sonic directly, but my general understanding is that SNS was not for small projects to begin with. If you are going to “go public” you need to be able to hold up to public scrutiny and this likely includes 1. Open Source Code. 2. Professional Audit (or Audits). 3. Established operational trust.

Clearing these bars is not for the faint of heart. On the bright side, there are many other ways to raise, decentralize, and become operational without going directly to an SNS(In fact I’d argue that going straight to SNS is leaving most of your chips on the table).

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We have arrived at a point where the decentralised community of the Governance system on the IC, gets to discuss and vote to accept or reject.

It seems that we have extreme polarities of views where we welcome all, FOMO and false information.

This is democracy and the majority rules.

I believe security should be the first issue of entry and this is the moment for all of us to send a message that this is the community standard of entry to the IC for all projects.

If we look out to the real world and the problems of the old Internet security, I find it hard to believe we would want to adopt these failings and send a message to all projects that this is our minimum requirement of entry.

Thank you @RMCS for providing important information that sounds rational and more acceptable as a discussion and encourages fact finding for a better outcome.

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:thinking:

This is Sonic

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Marketing will always show us the polished version but we as a community should look at the known issues, as did DFINITY, to voice our concerns and requirements, after all these projects want our support. If they are not willing to accept our requirements then why should we want to work and support them?

I completely agree.
The community doesn’t support Do Kwon

Are they making your point

A “twit” is a term used to describe a foolish, silly, or annoying person. It is often used in a light-hearted or mildly derogatory manner. The word “twit” originated in the English language and has been in use for several decades. It is similar to other terms like “idiot,” “fool,” or “nitwit” in describing someone’s lack of intelligence or common sense.

I wonder what some people are complaining about? SONIC project should be obvious to anyone, it’s only half developed, I don’t think anyone will profit from this if it’s rushed to SNS, and there’s nothing wrong with DFINITY saying no, it’s the majority of the community voting with DFINITIY, it’s not the foundation’s fault! The people who complain can wake up a bit. The foundation is also responsible for the safety of the community’s funds. It’s easy for some people on Twitter to follow some people. It’s not good for any IC. Stop it, smart guys

@FOX i want to be transparent:

some folks flagged your post. While I do think it is a bit snarky tbh, I do not think it is ad hominem so I approved it.

Community rules are here to protect good dialogue. A bit of snark is not enough to corrode that, but I do think you can probably make your point in simpler and more direct ways (I myself interpreted your post multiple ways so I was not sure what you actually meant).

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I wonder what some people are complaining about? SONIC project should be obvious to anyone, it’s only half developed, I don’t think anyone will profit from this if it’s rushed to SNS, and there’s nothing wrong with DFINITY saying no, it’s the majority of the community voting with DFINITIY, it’s not the foundation’s fault! The people who complain can wake up a bit. The foundation is also responsible for the safety of the community’s funds. It’s easy for some people on Twitter to follow some people. It’s not good for any IC. Stop it, smart guys

Can we introduce another stage post SNS decentralization sale, where a project can only access as much funds a it needs to complete a particular task (like audit), following which another vote releases fhe rest of the funds? And failure to which the sale is rolled back.

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I am curious about dfnitys thought process behind their decision. I am sure Sonic team is talking with dfnity for a while regarding the SNS. Was there any discussion regarding the audit before this? If yes, what was Dfinity’s take?

Many community members don’t have any understanding of product development or audits, and are parroting the lack of audits on Twitter.

The whole thing only reduces the credibly of dfnity. Will you guys ever be able to build a thriving ecosystem?

or shorting $ICP the only way to make some ROI?

Why so dramatic about this ? Would you rather people invest ICP as liquidity in a DEX that is not audited and after point fingers when something goes wrong ? How would that help the community ?
Also I am not saying that with audit everything will be ok because it is DeFi after all. Just look at Merlin.

No comment as one person is trying to tip me off of the community.I hope that a truly good technician will participate in SNS.

@diegop why do we have to look at all these Twitter posts? They are impossible to follow yet they stand out more than any other posts in this thread. They are not even original content (violating the Post Only Your Own Stuff policy). It’s people posting sound bites made by other people from other peoples content…3 levels deep. I think they are a distraction to meaningful conversation on the forum. I would vote for minimizing them if they are not original content. There is no reason why these Twitter post should be on such prominent display relative to other conversation.

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@wpb My content is opensourced, quit trying to send Jannys after people.

However, I don’t disagree with you, but that’s the only thing you’ve taken from this…? I agree the stuff about bots shouldn’t be in here, however, the rest of those threads are easily followed, and are extremely telling dialogues that are relevant to the conversation. I don’t think it’s fair to try to censor references to external material & content.

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I’m not sure if my remarks need to be censored, but the results of the neurons seem obvious :sweat_smile:

Great description by Spinner Cash on Sonic SNS.Check the Concerns part. Spinner Report: Review on Proposal #122343 - Create Sonic's SNS DAO

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