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Sneed DAO

The Blank Canvas SNS DAO

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About Sneed DAO

A Decentralized Autonomous Organization (DAO) is an organization that is governed by its members. DAOs operate with rules encoded in smart contracts, which removes the need for centralized leadership (e.g., a CEO).

On the Internet Computer Protocol (ICP), decentralized applications (dApps) can be controlled by SNS (Service Nervous System) DAOs. SNS DAOs are advanced DAOs that operate entirely on the ICP blockchain, enabling dApp operation and maintenance fully within Web3 through a token-based governance system.

Sneed DAO is a fully community-owned and community-driven SNS DAO on ICP, emerging from the legacy of SNS-1 (nicknamed "SNEED" by the community). It was designed as a customizable and open "Blank Canvas" dApp, with the goal of providing a self-sustaining platform for the ICP community to innovate and build.

Sneed DAO empowers its community members to propose, vote on, and develop any ideas, projects, partnerships, etc. There are no limits set. Sneed DAO aims to be an open and collaborative platform, inviting everyone—from developers and creatives to enthusiasts with ambitious ideas—to join, contribute, and build together.

What Makes Sneed DAO Special

Comparison Between Conventional Web2 DAOs and Sneed DAO

Conventional Web2 DAOs

  • Hosted on Web2 Servers

    Reliance on centralized servers can lead to single points of failure, data leaks, and less user control.

  • Limited Transparency

    DAO Operations may not be fully transparent. They may be relying on centralized decision-makers, reducing trust among the community.

  • Restricted Innovation

    Focus on a single product limits collaborative opportunities and innovation.

Sneed DAO

  • 100% Web3 Operation

    Built entirely on the Internet Computer Protocol as an SNS DAO, ensuring decentralization.

  • Full Transparency on ICP

    All operations are transparent and verifiable on-chain.

  • Community-Driven, Open Platform

    Encourages open innovation and experimentation without constraints.

Vision

The main vision of Sneed DAO is that its community members shape the future of the DAO using an open-platform "Blank Canvas" approach, which is realized through a straightforward three-step process using the SNEED token:

  1. Proposal Submission: Community developers and members submit proposals for new projects, initiatives, or changes (for example on OpenChat or Proposals.network). These proposals are then publicly votable on the NNS.
  2. DAO Decision: SNEED token holders vote on proposals.
  3. DAO Action: Approved proposals are implemented, dApp code changes are directly, trustlessly made on-chain via the SNS.

This "Blank Canvas" model stands for an "open call" to the ICP community for any kind of software development. Anyone can submit their proposal to the DAO. The future of Sneed DAO is 100% shaped by its decentralized community, which is in control of the DAO treasury and the DAO dApps.

For more details, read Mr. Sneed's Whiteletter to the Community.

Projects

Since the inception of Sneed DAO in October 2023 and the successful transition to an SNS DAO in January 2024, the community has been actively building on the "Blank Canvas" model. Below are some of the projects developed by the Sneed community so far:

Sneed ICRC-1 Token Logo

The Sneed token is an implementation of Dfinity's ICRC1 standard, developed by the Sneed community. It enabled the direct addition of the token logo into the token canister. Since its release in October 2023, many ICP community projects ("memecoins") have forked this code base and used the Sneed ICRC1 standard.

A few selected ICP community tokens which have forked the Sneed ICRC1 standard include:

SneedScan Logo

SneedScan is a blockchain indexer and explorer for the Sneed token, developed by the Sneed DAO community. It allows users to view transaction histories and monitor token activity, a feature typically missing for comparable ICRC-1 community tokens.

SneedScan shows the Sneed vision in action: community-driven development and transparency.

SneedSwap Logo

SneedSwap was developed by the Sneed DAO community ahead of its SNS launch. SneedSwap allows for a trustless and permissionless token swap of ICRC-1 tokens to SNS token standards.

It was audited by RIVVIR Tech, LLC.

Sneed Diamond Club Logo

The Sneed Diamond Club is an exclusive holder's community within Sneed DAO and the first NFT-gated group that is synchronized between web2 (Discord) and web3 (Catalyze).

50% of the NFT collection was airdropped to SNEED token holders (>1 SNEED holders received 2 each), while the other 50% is stored in the Sneed DAO treasury for future incentives.

The collection is currently being traded on Yuku. 100% of the 3% Creator's Royalty is automatically transferred to the Sneed DAO treasury.

SneedLock Logo

SneedLock 2.0 is a fully permissionless and trustless wallet on the ICP blockchain developed by the Sneed DAO community. It is the standalone dApp version of SneedLock 1.0, which is the first LP lock solution on ICP.

SneedLock 2.0 allows users (e.g., community token teams) to lock ICRC1 tokens and liquidity pools (LP) for specific durations.

SneedLock enhances security and trust within the ICP ecosystem by preventing access to locked tokens and/or LPs until the lock expires, helping to mitigate risks like "rug-pulls."

SneedLock is a modern alternative to "blackholing" LP positions, in which case the LP owners would forfeit claiming the LP rewards forever.

SneedLock supports an open API for integration with decentralized exchanges (DEXs) on ICP, with a primary focus on ICPSwap.

SneedLock 2.0 is currently in Beta.

RLL Logo

Sneed DAO Tokenomics: RLL Model

The Recursive Liquidity Loop (RLL) is a model developed by the Sneed SNS DAO as an alternative to inflationary SNS tokens. The governance token of Sneed DAO (SNEED) is non-inflationary, meaning the total supply (10 000 SNEED) will never increase. Here is a short breakdown of how it works:

1. Burning/Distributing SNEED Tokens
Rewards generated in SNEED tokens from the Sneed DAO Liquidity Pools (LPs) are regularly burned (removed from circulation) and/or distributed to the Sneed DAO governance members. Sneed DAO proposals can change this ratio from 100% burned to 100% distributed. This burn/distribution process is a core part of the DAO's approach to managing the ecosystem because it avoids the issuance of new SNEED tokens.

2. Staking ICP Rewards
Rewards earned in ICP (Internet Computer Protocol) coins from the Sneed DAO LPs are staked in an 8-year neuron which is controlled by the DAO. This staking process helps the DAO participate in ICP's governance and earn additional rewards that support the DAO's activities.

3. Distributing Maturity Rewards from Staked ICP
As the staked ICP tokens generate returns, these are distributed back to the Sneed SNS DAO community as governance rewards. These governance rewards can then be spent on buying-back SNEED tokens and/or on the distribution to Sneed DAO governance members. This approach closes the RLL as buying-back SNEED tokens again generate rewards in Sneed DAO LPs.

The RLL model is designed to minimize token inflation, helping to maintain the integrity of DAO votes and retain DAO self-sustainability. Launch the Sneed DAO dApp to see the RLL model in action!

RLL Infographic

Build Your Project with Sneed DAO

I Sneed You Logo

If you have an idea or project that aligns with the "Blank Canvas" vision, you are invited to build with Sneed DAO.

Submit your proposal, collaborate with like-minded individuals, and bring your project to life on the ICP.

Whether you're a developer, designer, or enthusiast, your contributions can make an impact. Join Sneed DAO in offering necessary tools to the ICP ecosysem and shaping the future of decentralized applications on web3.

Get Involved

Code

Sample 1 Image

Sneed ICRC1 Token - The Sneed token smart contract is itself a fork of the NatLabs reference implementation of the ICRC1 standard. This means that tools that support the transaction history API from the NatLabs contract will also be able to support the Sneed token, and all its compliant, derivate forks.
The full code can be found on GitHub.

Sample 2 Image

SneedScan - SneedScan is the Sneed token block explorer. It natively supports all forks of the Sneed token smart contract.
The full code can be found on GitHub.

Sample 3 Image

SneedLock 1.0 - SneedLock 1.0 supports the lock of any token or smart contract (canister) on the ICP blockchain. SneedLocked assets are safely secured by the Sneed SNS DAO.
For more information visit: SneedLock1.0 Information Page and the SneedDeFi GitHub page

Sample 4 Image

SneedLock 2.0 - The permissionless and trustless next-gen update to SneedLock 1.0, currently in beta.
To test SneedLock 2.0 please visit the official dApp.

Treasury

Treasury TVL: API coming soon   |   Projects in SneedLock 1.0: 6

The Sneed DAO's Treasury was raised during the Decentralization Sale.

The full SNS DAO treasury consists of:

Sneed DAO decides through proposals how treasury funds are managed (e.g., to incubate innovative ideas on ICP).

Partnerships & Collaborations

Neutrinite Logo
Sneed DAO partnered with Neutrinite to build the RLL dApp on-chain, integrating Neutrinite vectors.
Visit Neutrinite
ICPSwap Logo
Sneed DAO partnered with ICPSwap to integrate ICPSwap LP positions in SneedLock 2.0, allowing for trustless and permissionless token and LP locks.
Visit ICPSwap
Catalyze Logo
Sneed collaborated with Catalyze to create the first Web3 NFT-gated chat room, Sneed Diamond Club integrated with Discord.
Visit Catalyze
OpenChat Logo
Sneed was the first token added to OpenChat for tipping and is listed in the official token list.
Visit OpenChat
Fomowell Logo
Sneed DAO collaborated with Fomowell to integrate an automatic Sneed Lock feature for launched tokens.
Visit Fomowell
ICPex Logo
Sneed DAO collaborated with ICPEx to integrate SneedLock 1.0 into their token launcher.
Visit ICPex
Bitcorn Labs Logo
Sneed DAO collaborated with Bitcorn Labs on ICP community dApps such as the Bitcorn Labs Sneedlock Explorer.
Visit Bitcorn Labs
Elna.ai Logo
Sneed DAO partnered with ELNA.ai to build a Mr. Sneed AI agent, fully stored on-chain.
Visit Elna.ai
Taco DAO Logo
Sneed DAO partnered with Taco DAO to work on future projects.
Visit Taco DAO

SneedLocks and Forks

Snoge Logo
Fork of the Sneed Token. 10% Sneedlocked LP, 50% governance rewards to Sneed DAO stakers, 40% airdrop to Sneed DAO holders. Official memecoin of Sneed DAO, as decided by Sneed DAO Motion Proposals #94 and #147.
Visit Snoge
Tendy Logo
Fork of the Sneed Token.
Visit TENDY.zone
Clown Logo
Fork of the Sneed Token and SneedLocked LP.
Visit Insane Clown Protocol
ND64 Logo
SneedLocked LP.
Visit Nintendoge64
Windoge98 Logo
Fork of the Sneed Token.
Visit Windoge98
Nanas Logo
Launched on Fomowell with SneedLocked LP.
The Banana Company
Glaze Logo
SneedLocked LP.
Visit $GLAZE
MIF Logo
Fork of the Sneed Token. SneedLocked LP.
Visit Motokowifhat
Dogmi Logo
Fork of SneedSwap to exchange DOGMI (old) to DOGMI (SNS).
Visit DOGMI
Pepe Logo
Fork of the Sneed Token. SneedLocked LP.
Visit Pepe
iDoge Logo
Fork of the Sneed Token.
Visit Internet Doge
Alien Logo
Fork of the Sneed Token. SneedLocked LP. Airdrop to ICPCC 2024 conference attendees.
Visit ICP Community Conference

Join Sneed DAO

Further Links