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5 projects successfully launched SNS from September to October, opening a new chapter in Decentralization governance.
5 projects successfully launched on SNS in September and October
Recently, 5 projects successfully launched SNS (Service Nervous System) during September and October. These projects include:
SNS is an infrastructure that provides support for IC ecosystem projects, allowing projects to quickly issue tokens and establish DAOs. ICP holders can purchase these project tokens through SNS. By staking these tokens, investors can participate in various governance decisions of the projects, including system upgrades, smart contract updates, treasury management, and event creation, among others. This participation effectively reflects investors' confidence in the future of the projects.
To successfully launch the SNS project, two key steps need to be completed:
The project's submitted white paper and token economic model must receive majority support from ICP stakers on the NNS (Network Nervous System). This means that the project needs to gain recognition from the ICP community in order to proceed with the token sale.
After the token sale concludes, the amount of ICP raised must meet the minimum threshold set by the project itself.
The project can only officially launch on SNS when both of these conditions are met. Once launched, the control of the project will be transferred to the DAO. All raised ICP will be deposited into the project treasury, and decisions regarding system upgrades, treasury management, and other matters will be determined by the community through governance mechanisms.
This mechanism not only provides financial support for projects but also ensures community involvement in the direction of project development, helping to create a more decentralized and democratic project management model.