Overview of SNS Fundraising for IC Chain Ecosystem Projects

The Internet Computer blockchain (, abbreviated as IC), aims to realize the concept of a "World Computer," allowing smart contracts to run on-chain at internet speed. The DFINITY Foundation hopes that developers can create large-scale services on the IC chain in a decentralized manner 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 thresholds to launch SNS, such as obtaining majority approval from ICP stakers for the white paper and token economics, and raising the preset standard of ICP quantity in the Swap.

In the past 10 months, 11 IC ecosystem projects completed decentralized token sales on SNS, transforming into DAOs and raising a total of 20.6 million USD. Investors purchased and staked project tokens to participate in governance voting for project upgrades, smart contract upgrades, treasury management, event creation, and more.

The following are the overviews of the 11 projects that have become DAOs through SNS:

SNS1: From Experimental Coin to Game Governance Coin

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

Launch time: December 10, 2022

Fundraising: 3141 ICP, approximately $13,800

Current Governance:

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

Future Outlook:

• Change the token name to DKP)Dragginz Karma Points(
• Staking DKP has in-game rewards
• The team retains 52% voting rights to ensure control over game content.

![A glance at 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-b36b746033d2a7d99a9331ba48a18eec.webp(

OpenChat: Decentralized Chat Platform, "TG+DC"

OpenChat is an OG project in the SocialFi track of the IC ecosystem, functioning similarly to "Telegram + Discord".

Launch time: March 17, 2023

Fundraising: 1 million ICP, approximately 5.6 million USD

Current Governance:

• All basic functions have been完善.
• Multiple proposals have been approved by voting
• Users can initiate SNS proposals and voting within the program.
• The number of users increased from 83,000 to 110,000

Future Outlook:

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

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-541505f9211de79a1416c0a965015e05.webp(

Kinic: IC Chain Search Engine

Kinic is the first fully on-chain Web3 content search engine that supports searching all front-end Canister smart contracts on the IC chain.

Launch time: June 17, 2023

Fundraising: 509,000 ICP, approximately 2 million USD

Current Governance:

• Support searching for IC on-chain content
• Improve the platform through proposals and voting

Future Outlook:

• Expand to more blockchains and decentralized storage networks
• Support advertisers to bid for advertising space using KINIC tokens

![Overview of 11 IC Chain Ecological Projects Funded through SNS])https://img-cdn.gateio.im/webp-social/moments-bcc4f31c6b70d3223942e735bedaab7a.webp(

Hot or Not: IC version of Tiktok

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 Governance:

• Improve the platform through proposals and voting
• Basic TikTok alternative features have been implemented.

Future Outlook:

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

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-3b5f546dc9fc62d68f35822c5d891274.webp(

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 time: July 27, 2023

Fundraising: 20,000 ICP, approximately 84,000 US dollars

Current Governance:

• Complete multiple proposals, including airdrops, token burns, treasury transfers, etc.
• Fewer marketing activities

Future Outlook:

• Develop GHOST-themed NFT marketplace and metaverse
• Launch community education programs

![An overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-a81b63791ccd8739b6b9a312506af96a.webp(

Modclub: Decentralized Content Review Platform

Modclub provides AI-assisted decentralized content review and data labeling solutions for SocialFi projects.

Launch time: August 25, 2023

Fundraising: 654,000 ICP, approximately 2.3 million US dollars

Current Governance:

• Core features available
• The early user airdrop and system upgrade have been completed.

Future Outlook:

• Integrate AI to improve content filtering efficiency

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-a7bd4967343bd5faac175c6492d7a5ea.webp(

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 Governance:

• NFT holder airdrop completed
• The basic community features have matured.

Future Outlook:

• Migrate the chat function to the IC chain
• Develop new features such as voice video chat, NFT gating, etc.

![An overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-c2e3e47451083ab51d6707a0c7bcc99a.webp(

BOOM DAO: IC Full-Chain Game Infrastructure

BOOM DAO provides a complete full-chain gaming infrastructure for the IC chain, including the World Engine and Game Launcher.

Launch date: September 15, 2023

Raised funds: 408,900 ICP, approximately 1.2 million USD

Current Governance:

• Upgrade tool through proposals
• Host a blockchain game hackathon event

Future Outlook:

• Establish a game manufacturer alliance and game guild
• Develop a blockchain-based multiplayer game framework

![An overview of 11 IC chain ecosystem projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-3778dbd32f81386e7e34368651678288.webp(

ICX: IC Version Twitter + Prediction Market

ICX is a SocialFi project similar to Twitter, with added prediction market features.

Launch time: September 27, 2023

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

Current Governance:

• Temporarily disable prediction market function
• A deposit of 1 ICP is required to post.

Future Outlook:

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

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-71e22fe788a285ac078ca5d53ee742d8.webp(

Nuance: IC version Medium

Nuance is a decentralized blogging platform, similar to Medium.

Launch time: October 2, 2023

Fundraising: 262,000 ICP, approximately 820,000 US dollars

Current Governance:

• Core features are complete
• Improve the platform through proposals

Future Outlook:

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

![Overview of 11 IC chain ecological projects funded through SNS])https://img-cdn.gateio.im/webp-social/moments-2beb582ef7cbdd9f540a6879e275f5f1.webp(

Sonic: Early DeFi Project on IC Chain

Sonic is one of the first DeFi projects on the IC chain, offering features such as Swap, liquidity mining, and LBP new token launch.

Launch Time: October 9, 2023

Fundraising: 519,000 ICP, approximately 1.5 million USD

Current Governance:

• Improve the platform through proposals
• Complete SONICX token exchange

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. Readers are advised to comply with the laws and regulations of their region and not to engage in any illegal financial activities.