Secure

The Blank Canvas DAO on the Internet Computer.

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Are you eligible for the Sneed NFT drop? Check here and here. If so, register your preferred drop wallet here.

Swap your old Sneed tokens to the new SNS "Sneed DAO" tokens at SneedSwap. More Info.

Read the Sneed Whitepaper.

Read Mr. Sneed's Vision Letter.

NEW (SNS) TOKEN:

Name: Sneed DAO
Ticker: SNEED
Standard: ICRC1
Fee: 0.00001 SNEED
Maximum total supply: 10,000 SNEED

Canister ID: hvgxa-wqaaa-aaaaq-aacia-cai

Burn address: fi3zi-fyaaa-aaaaq-aachq-cai

OLD TOKEN:

Name: Sneed
Ticker: SNEED
Standard: ICRC1
Fee: 0.0001 SNEED
Maximum total supply: 10,000 SNEED
Total supply: [Updating...]

Burned: [Updating...]

Canister ID: r7cp6-6aaaa-aaaag-qco5q-cai

Burn address: jmgqz-zf6ub-qxnls-ojsog-dp5lc-w7doy-hxoal-ryild-flunf-oi3da-4ae

Sneed Whitepaper

Abstract: Sneed introduces a novel approach to cryptocurrency tokenomics, leveraging an Automatic Market Maker Liquidity Pool (LP) to create a secure, non-inflationary, eco-friendly, efficient and decentralized ecosystem for SNEED, a token following the ICRC1 standard on the Internet Computer.

1. Initial Liquidity Provision (Seed the Sneed)

Objective: Establish foundational liquidity for SNEED.
Method: Allocate the entire supply of 10,000 SNEED into an LP, paired with 1,000 ICP (Internet Computer Protocol) tokens. This LP will generate trading rewards, that will be used to power the Sneed tokenomics, as described in subsequent steps.

2. Token Distribution Strategy (The Spread)

Objective: Distribute SNEED tokens equitably.
Method: Retrieve approximately 50% of SNEED (4,993.5 tokens) from the LP.
Allocate these tokens as follows:

Founding Team - 1,000 SNEED
Treasury - 2,000 SNEED
Airdrops - 993.5 SNEED
Reserve for future SNS (Service Nervous System) sale - 1,000 SNEED

3. Token Burn Mechanism (The Burns)

Objective: Implement a deflationary mechanism for SNEED.
Method: Regularly burn SNEED rewards accrued from the LP, reducing total supply.

4. Long-Term Staking (The Stakes)

Objective: Encourage long-term stability.
Method: Stake ICP rewards from the LP in an 8-year NNS (Network Nervous System) neuron, fostering long-term stability.

5. Buyback and Burn Procedure (The Buybacks)

Objective: Further reduce SNEED supply and stabilize value.
Method: Use ICP rewards from the 8-year NNS neuron to buy back SNEED tokens, which are then burned.

6. Decentralizing Liquidity (The Growth)

Objective: Expand and decentralize the liquidity framework.
Method: Utilize SNEED and ICP rewards from the LP to establish new liquidity positions on more exchanges.

7. Formation of a DAO (The DAO)

Objective: Democratize decision-making and governance.
Method: Establish an SNS DAO using the 1,000 SNEED reserved for an SNS sale. The DAO will manage the LP positions, the 8-year NNS neuron, and the 2,000 SNEED treasury, deciding on the utilization of LP rewards.
Conclusion: Sneed's tokenomics are designed to create a balanced, sustainable, and decentralized ecosystem for SNEED. By employing strategies like token burning, staking, and DAO governance, the aim is to ensure long-term value and utility for Sneed users.

SneedSwap instructions:

These are instructions for how to swap your old Sneed tokens (ledger: r7cp6-6aaaa-aaaag-qco5q-cai) to the new SNS "Sneed DAO" tokens (ledger: hvgxa-wqaaa-aaaaq-aacia-cai).

Please note that both the old Sneed token and the new SNS "Sneed DAO" token have the same logo, and ticker ("SNEED"). The token names are different, where the old token name is "Sneed" and the new token name is "Sneed DAO".

NB: DO NOT SEND YOUR OLD SNEED TOKENS TO THE NNS, THEY ARE NOT SUPPORTED BY THE NNS WALLET!

To convert your old Sneed tokens to new tokens, the first step is to make sure your old Sneed tokens reside on a wallet that can support both the old and the new Sneed tokens. The new "Sneed DAO" tokens you convert to will be sent back to the wallet you send your old Sneed from, so to see your new tokens when they arrive the wallet has to support them.

An example of a wallet that supports both the old and the new Sneed tokens is the ICPSwap wallet that you get after logging in with Internet Identity.
Thus please begin by confirming that your wallet supports both tokens. If not, you could either wait until it does, or send your old Sneed tokens to a wallet that does support both tokens, such as the wallet you get on ICPSwap when logging in with your Internet Identity.

Once you have your old Sneed tokens on a wallet that supports both the old and the new Sneed tokens, you will complete the following steps to send your old Sneed to the SneedSwap converter dApp, convert it, and receive new Sneed tokens to your wallet:

1) Send your old Sneed tokens to the principal id of the SneedSwap dApp: 5ceyv-syaaa-aaaag-qc43q-cai

2) Go to the SneedSwap dApp website.

3) Enter the principal id of the wallet you sent your old Sneed tokens from in the textbox (and optionally your subaccount if you sent from an account with a subaccount).

4) Click the "Check balance" button to verify that the old Sneed you sent to the dApp show up as your balance (minus transaction fees).
NB: Please be patient as this process may take a few minutes to complete!

5) When you see your balance, click the "Convert" button to send the new "Sneed DAO" tokens to your account.
NB: Please be patient as this process may take a few minutes to complete!

A few notes:

The "Check Balance" function tells you the amount of old Sneed tokens you have sent to SneedSwap (minus the amount of new Sneed tokens that SneedSwap has sent back to your wallet), NOT the amount of Sneed that you have on your wallet.
The "Convert" function has a cooldown of one hour per account. This means that if you begin by converting a small test amount (recommended) you will have to wait an hour before you can convert the rest.
The conversion process uses two transactions, the transaction when you send old Sneed to the dApp, and the transaction to send the new "Sneed DAO" tokens back to your wallet. Thus the amount of new "Sneed DAO" tokens you recieve will match the amount of old Sneed sent to the dApp minus one old token transaction fee and one new token transaction fee.
The old Sneed token supports 12 decimals, whereas the new "Sneed DAO" token only supports 8 decimals. This unfortunately means that old Sneed amounts using the last 4 decimals will be ignored. E.g. if you have 1.234523452345 old Sneed tokens, that will only be seen as 1.234523450000 new "Sneed DAO" tokens.

Disclaimer: The SNEED token (SNEED) and associated content are intended for entertainment and community purposes only. SNEED is a community DAO governance token and is not to be considered an investment or financial instrument. No promises or guarantees are made regarding the token's utility, value, or potential for profit. Engage with SNEED and its community at your own risk and discretion. Always conduct your own research and consult with financial professionals before participating in any cryptocurrency activities.