11 projects in the IC ecosystem raised 20.6 million dollars through SNS, with projects like OpenChat successfully transforming into DAO.

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Analysis of Fundraising Status of IC Ecosystem Projects through SNS

The Internet Computer blockchain ( IC ) aims to realize the concept of a "world computer," enabling smart contracts to run on-chain at internet speed. The DFINITY Foundation hopes that developers can create large-scale services in a decentralized manner on the IC chain and raise funds directly from the user community.

In December 2022, the Launchpad infrastructure developed by the DFINITY Foundation, SNS(Service Nervous System), was launched, providing application developers with a one-click deployment DAO governance solution. IC chain projects must meet certain conditions to launch SNS, including obtaining majority votes from ICP stakers for the white paper and tokenomics, as well as raising sufficient ICP in the Swap.

In the past 10 months, 11 IC ecosystem projects have completed decentralized token sales through SNS, transforming into DAOs and raising approximately $20.6 million. Investors purchase project tokens and stake them to participate in project governance, indicating optimism about the project's prospects.

The following are the specifics of these projects:

An Overview of 11 IC Chain Ecosystem Projects Funded Through SNS

SNS1: Transforming from Experimental Coin to Game Governance Coin

SNS1 was initially a stress test for SNS by the DFINITY Foundation, and was later taken over by the fully on-chain game Dragginz, becoming its governance token.

Launch Date: December 10, 2022 Fundraising: 3141 ICP, approximately $13,800

Current situation:

  • The development team holds 52% of the token share ( has been locked ) and voting rights.
  • The token price rose from 47 ICP at the beginning of June to 999 ICP, an increase of 20 times.

Future Outlook:

  • The game is planned to be officially released in the second half of 2024 or early 2025.
  • Will participate in various mainstream gaming exhibitions for promotion

An overview of 11 IC chain ecosystem projects funded through SNS

OpenChat: Decentralized Chat Platform

OpenChat is an OG project in the SocialFi track of the IC ecosystem, with functionality similar to "Telegram + Discord".

Launch time: March 17, 2023 Raise funds: 1 million ICP, approximately 5.6 million USD

Current situation:

  • All basic functions have been improved.
  • The number of users increased from 83,000 to 110,000

Future Outlook:

  • Develop new features such as voice and video
  • Launch member and user incentive mechanisms

Overview of 11 IC Chain Ecological Projects Funded through SNS

Kinic: IC Blockchain Search Engine

Kinic is the first fully on-chain Web3 content search engine.

Launch time: June 17, 2023 Fundraising: 509,000 ICP, approximately 2 million USD

Current situation:

  • Support searching for IC chain content
  • Improve the platform through proposals

Future Outlook:

  • Plan to support searching for more blockchain content
  • Introduce advertising placement feature

Overview of 11 IC chain ecological projects funded through SNS

Hot or Not: IC version of TikTok

Hot or Not is a decentralized short video application that incorporates GameFi elements.

Launch date: July 13, 2023 Raised funds: 1.074 million ICP, approximately 4.7 million USD

Current situation:

  • Basic functions have been implemented

Future Outlook:

  • Launching new features such as Creator DAO, NPhone NFT, etc.

A summary of 11 IC chain ecological projects funded through SNS

IC Ghost: The First Meme Coin on the IC Chain

IC Ghost is the first meme coin project on the IC chain.

Launch time: July 27, 2023 Raise funds: 20,000 ICP, approximately $84,000

Current situation:

  • Complete multiple governance proposals
  • There are fewer marketing activities.

Future Outlook:

  • Develop NFT market and metaverse virtual world
  • Launch community education program

Overview of 11 IC chain ecological projects funded through SNS

Modclub: Decentralized Content Review Platform

Modclub provides content review solutions for SocialFi projects.

Launch time: August 25, 2023 Fundraising: 654,000 ICP, approximately 2.3 million US dollars

Current situation:

  • Core features available
  • Airdrops have been conducted for early users

Future Outlook:

  • Integrate artificial intelligence to improve review efficiency

Overview of 11 IC chain ecological projects funded through SNS

Catalyze: IC Version Discord

Catalyze is a decentralized community platform similar to Discord.

Launch time: September 8, 2023 Fundraising: 602,000 ICP, approximately 1.98 million USD

Current situation:

  • The basic functions are relatively mature.
  • The chat function is based on the Matrix protocol.

Future Outlook:

  • Migrate the chat function to the IC chain
  • Develop more community management tools

An overview of 11 IC chain ecosystem projects funded through SNS

BOOM DAO: IC Full-Chain Game Infrastructure

BOOM DAO is committed to providing a complete on-chain gaming infrastructure for the IC chain.

Launch date: September 15, 2023 Fundraising: 408,900 ICP, approximately 1.2 million USD

Current situation:

  • Upgrade tool through proposal
  • Hold a blockchain game hackathon event

Future Outlook:

  • Establish game manufacturer alliances and game guilds
  • Develop a blockchain-based multiplayer game framework

Overview of 11 IC chain ecological projects funded through SNS

ICX: IC Version of Twitter + Prediction Market

ICX is a SocialFi project that combines Twitter and prediction market features.

Launch Time: September 27, 2023 Raise funds: 150,000 ICP, approximately 440,000 USD

Current situation:

  • Temporarily disable the prediction market function
  • Posting requires a deposit of 1 ICP

Future Outlook:

  • Create marketing campaign
  • Upgrade UI/UX
  • Add tipping feature

Overview of 11 IC chain ecological projects funded through SNS

Nuance:IC Version Medium

Nuance is a decentralized blogging platform.

Launch time: October 2, 2023 Fundraising: 262,000 ICP, approximately 820,000 USD

Current situation:

  • Core functionalities are complete
  • Content review outsourced to Modclub

Future Outlook:

  • Add comment and tipping features
  • Increase writer compensation and content quality

Overview of 11 IC Chain Ecological Projects Fundraised through SNS

Sonic: Early DeFi Project on IC Chain

Sonic is one of the first DeFi projects on the IC chain.

Launch time: October 9, 2023 Fundraising: 519,000 ICP, approximately 1.5 million USD

Current situation:

  • Exchanging SONICX tokens

Future Outlook:

  • Launch of new features such as perpetual contracts and xICP
  • Develop on-chain dark pools

The above projects successfully transformed into DAOs after raising funds through SNS, showcasing the vitality of the IC ecosystem. However, their long-term development still requires further observation.

Overview of 11 IC chain ecological projects funded through SNS

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CryptoMomvip
· 07-07 19:06
Not even half of what I expected is making me laugh.
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RegenRestorervip
· 07-05 04:10
The IC ecosystem has quite a potential.
View OriginalReply0
AirdropHarvestervip
· 07-05 04:07
ic bull is all it takes!
View OriginalReply0
VibesOverChartsvip
· 07-05 04:00
ic is incredible
View OriginalReply0
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