Proposal summary
NNS proposes to create an SNS called “ICPSwap”:
forum.dfinity.org/t/upcoming-icpswap-sns-decentralization/27523
What is ICPSwap?
ICPSwap (icpswap.com) is a native, pioneering and premier decentralized exchange (DEX) in the Internet Computer Protocol (ICP) ecosystem, providing a wide range of financial and market services.
Our users and fans can immerse themselves in the ultimate decentralized finance (DeFi) experience, including standard trading of a wide range of tokens, dedicated staking pools, powerful liquidity mining, innovative claims features and more, through ICPSwap, we are exploring almost every aspect of DeFi!
Proposed Token Distribution
Total supply: 1 billion ICS tokens
Initially distributed:
48%: reserved for the ICPSwap DAO vault;
26%: allocated for exchange to decentralize governance and raise funds for SNS;
9%: allocated to the ICPSwap team and advisors, with a 6-month delay in dissolution, these neurons will vest quarterly within 48 months after the SNS exchange, distributed equally each quarter;
10%: allocated to seed investors with a vesting period of 24 months;
3%: allocated to strategic round investors, with a vesting period of 24 months;
4%: distributed to private placement investors with a vesting period of more than 11 months.
Ledger transaction fee: 0.01 ICS
governance
Each participant in the decentralized exchange (including the Neuron Fund) will receive a basket of tokens equivalent to 5 ICS Neurons, each with dissolution delays of 0, 3, 6, 9 and 12 months. .
The ICPSwap team and advisors will receive a basket of 16 Neurons tokens, each with a dissolution delay of 6 months, which will vest quarterly over 48 months after the SNS swap, with the same proportion each quarter. The team and advisors will not receive any ICS tokens in the SNS swap.
Each seed round investor will receive a basket of 24 tokens of equal value in the form of Neurons, with a dissolution delay of 1 month for each Neuron. These Neurons will vest within 24 months of the SNS exchange, each The ratio of months is the same.
Each strategic round investor will receive a basket of 24 tokens of equal value in the form of Neurons, with no dissolution delay, which will vest within 24 months of the SNS exchange, with equal proportions each month.
Each private placement investor will receive a basket of 12 equivalent tokens in the form of Neurons, which have no dissolution delay and will be unlocked linearly from 0 to 11 months after the SNS exchange, with equal monthly proportions.
Decentralized swap
26% of the total supply of ICS tokens is proposed to be distributed via the SNS decentralized exchange:
Minimum number of participants: 500
Minimum fundraising to directly participate: 300,000 ICP
Direct participation in maximum fundraising: 900,000 ICP
Minimum contribution via direct participation: 1 ICP
Direct participation maximum contribution: 100,000 ICP
Neuron Fund Participation: Yes
Participation link:
nns.ic0.app/project/?project=csyra-haaaa-aaaaq-aacva-cai
Decentralized applications
The following containers on ICPSwap will be managed by SNS after the SNS swap:
SwapFactory：4mmnk-kiaaa-aaaag-qbllq-cai
PositionIndex：cglrh-lyaaa-aaaag-qcs4q-cai
PasscodeManager：7eikv-2iaaa-aaaag-qdgwa-cai
verify
All information about the project can be verified in the white paper and Github:
iloveics.gitbook.io/icpswap
github.com/ICPSwap-Labs
IC content you care about
Technology Progress | Project Information | Global Events
Collect and follow IC Binance Channel
Get the latest news
