Donate the funnAI application to the onicai SNS and seed an ONICAI/ICP liquidity pool

onicai SNS

This SNS decentralizes the funnAI application (https://funnai.onicai.com) by donating it to the onicai community in a non-diluting manner, with no ICP treasury retained. ALL current FUNNAI holders, including the team and the funnAI Protocol Treasury, either mAIned their tokens or purchased them on ICPSwap. No pre-mint or free grant ever occurred. Post-launch, FUNNAI holders migrate their tokens 1:1 to the ONICAI SNS governance token. To make the event fully non-diluting, post-launch the team first burns FUNNAI equal to the ONICAI in their genesis neurons, and the funnAI Protocol Treasury burns FUNNAI equal to the ONICAI sold in the token sale and seeded into the liquidity pool, before both migrate whatever FUNNAI they still hold. ONICAI will have a hard cap of 21M, and because 449,896 FUNNAI has already been burned, only 20,550,104 is created at launch. Everything -- migration, pool, future mAIning rewards -- comes out of that. No additional ONICAI is ever minted. Supply becomes deflationary through burning once mAIning ends in 2033. To seed the pool, the ICP from the sale is added to the ICP the funnAI Protocol Treasury already holds, and the combined amount is matched with SNS treasury ONICAI at the initial price of 1 ONICAI = 0.0075 ICP. The team's 537,000 genesis ONICAI is not a reward but a bootstrap for setting up the SNS. Treasury proposals need a 67% supermajority, and 537,000 against the sale's 230,000 is 70.01% -- comfortably enough to pass the CRITICAL proposals that create the liquidity pool and switch mAIning rewards to ONICAI, even if a single hostile buyer took the entire sale and voted no. This majority is only temporary: once FUNNAI holders have exercised their 1:1 migration, roughly 5,000,000 ONICAI is in their hands and the team's holdings become a small minority. Every funnAI application feature is preserved, and mAIning continues on the same schedule. Further decentralization occurs naturally through mAIning.

Token

• Total minted: 20,550,104 ONICAI
• Transaction fee: 0.1 ONICAI | Proposal rejection fee: 1,000 ONICAI
• Neurons' Fund participation: No

The cap is 21M. 449,896 FUNNAI is already burned, so only 20,550,104 ONICAI is created at launch.

Genesis Distribution (20,550,104 ONICAI)

• Team neurons: 537,000 (1.02% + 1.02% + 0.41% + 0.16% across 4 members)
• Advisor neurons (Outlier Ventures): 420,000 (2.04%)
• Token sale for Liquidity Pool seeding: 230,000 (1.12%)
• SNS treasury: 19,363,104 (94.22%)

Token Sale for Liquidity Pool seeding

• Minimum 5 participants; 4 ICP minimum and 250 ICP maximum each
• ICP collected: minimum 20 ICP, maximum 1,725 ICP
• 230,000 ONICAI is sold
• Each participant receives a basket of 6 neurons of equal stake, with dissolve delays

of 0, 1, 2, 3, 4 and 5 months

Liquidity Pool

• The ICP collected, plus the ICP the funnAI Protocol Treasury already holds, is paired

with SNS treasury ONICAI on ICPSwap at that same 0.0075

• The Treasury burns matching FUNNAI

Non-diluting

The team's 537,000 ONICAI, the sale's 230,000 ONICAI and the ONICAI seeded into the liquidity pool are all matched 1:1 by FUNNAI to be burned post-launch -- the team's own, and the protocol's own -- so none of these events adds to circulating supply and it is non-diluting for existing FUNNAI holders.

Voting

• Minimum dissolve delay to vote: 1 month
• Dissolve delay bonus: 0% -- holding, not locking, is rewarded
• Age bonus: 100% over 4 years
• Voting reward rate: 0% -- no ONICAI inflation
• Initial voting period 4 days, wait-for-quiet extension 1 day

Post-Genesis Distribution (via SNS proposals)

The treasury will be fully disbursed: 5,185,125 shared between the liquidity pool and 1:1 FUNNAI holder redemption, and 14,177,979 to the GameState canister for mAIning rewards.

Learn more

• funnAI
• onicai on OpenChat