Overview of IC Chain Ecosystem Projects Funded by SNS

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

In December 2022, the DFINITY Foundation launched the Launchpad infrastructure SNS( Service Nervous System), providing a one-click deployment DAO governance solution for application developers. IC chain projects must meet certain thresholds to go live on SNS, including the white paper and token economics needing to be approved by a majority vote of ICP stakers, as well as raising a predetermined amount of ICP in the Swap.

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

The following is an overview of these 11 projects that have become DAOs through SNS:

SNS1: From Experimental Coin to Game Governance Coin

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

Launch date: December 10, 2022

Raised funds: 3141 ICP, approximately 13,800 USD

Current situation:

• The Dragginz development team holds 52% of the token share and voting rights.
• The price of SNS1 token rose from 47 ICP to 999 ICP, an increase of 20 times.

Future Outlook:

• The game is scheduled to be officially released in the second half of 2024 or early 2025.
• Will participate in mainstream gaming expos to promote Dragginz and Web3

OpenChat: Decentralized Chat Platform

OpenChat is a decentralized chat application similar to "Telegram + Discord".

Launch time: March 17, 2023

Raise funds: 1 million ICP, approximately 5.6 million USD

Current situation:

• The basic functions are完善, users can participate in SNS governance within the program.
• The number of users increased from 83,000 to 110,000

Future Outlook:

• Develop new features such as voice, video, and APIs
• Increase the application scenarios of the CHAT token

Kinic: IC Chain 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 and voting

Future Outlook:

• Add search for more blockchain and decentralized storage network content
• Supports advertisers in bidding for ad space using KINIC tokens.

Hot or Not: IC Version Short Video Platform

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

Launch time: July 13, 2023

Fundraising: 1.074 million ICP, approximately 4.7 million USD

Current situation:

• Basic functions have been implemented, similar to TikTok

Future Outlook:

• Launched new features such as Creator DAO, NPhone NFT, and Mystery Box.

IC Ghost: The first meme coin on the IC chain

IC Ghost is the first fully community-governed meme coin project on the IC chain.

Launch date: July 27, 2023

Raise funds: 20,000 ICP, approximately $84,000

Current situation:

• Completed multiple governance proposals, including airdrops and token burns.
• Fewer marketing activities

Future Outlook:

• Develop GHOST theme NFT market and metaverse
• Launch community education programs

Modclub: Decentralized Content Review Platform

Modclub provides content review and data tagging solutions for SocialFi projects.

Launch time: August 25, 2023

Fundraising: 654,000 ICP, approximately 2.3 million USD

Current situation:

• Core features available
• System upgrade and airdrop completed

Future Outlook:

• Integrate artificial intelligence to improve content filtering efficiency.

Catalyze: Decentralized Community Platform

Catalyze is a SocialFi application similar to Discord, providing community management tools for projects.

Launch time: September 8, 2023

Fundraising: 602,000 ICP, approximately 1.98 million USD

Current situation:

• Basic functions are mature, including creating communities, chatting, creating tasks, etc.
• Online chat based on the Matrix protocol

Future Outlook:

• Transfer online chat to IC chain
• Develop voice video chat, NFT gated events, and other features

BOOM DAO: IC Full-Chain Game Infrastructure

BOOM DAO provides a comprehensive gaming infrastructure for the IC chain, including the World Engine and game launcher.

Launch time: September 15, 2023

Fundraising: 408,900 ICP, about 1.2 million USD

Current situation:

• Host a blockchain game hackathon through the proposal upgrade tool

Future Outlook:

• Establish a Game Manufacturers Alliance and Game Guilds
• Develop a framework for on-chain multiplayer games

ICX: The Combination of Social Media and Prediction Markets

ICX is a SocialFi project similar to Twitter, which has added a prediction market feature.

Launch time: September 27, 2023

Fundraising: 150,000 ICP, approximately 440,000 USD

Current situation:

• Prediction market feature temporarily closed
• A deposit of 1 ICP is required to post.

Future Outlook:

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

Nuance: Decentralized Blog Platform

Nuance is a decentralized blogging platform similar to Medium.

Launch time: October 2, 2023

Fundraising: 262,000 ICP, approximately 820,000 USD

Current situation:

• Complete core functionalities
• Content review outsourced to Modclub

Future Outlook:

• Optimize writer compensation and reader experience
• Add comment and tip features

Sonic: Early DeFi Project

Sonic is one of the first DeFi projects on the IC chain, providing functionalities such as Swap, liquidity mining, and LBP.

Launch date: October 9, 2023

Funds raised: 519,000 ICP, approximately 1.5 million USD

Current situation:

• Improve the platform through proposals
• Exchanging SONICX tokens

Future Outlook:

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

Note: This article is for informational sharing only and does not constitute investment advice. Please strictly comply with the laws and regulations of your region and do not participate in any illegal financial activities.