Community-owned Web3
Open Internet Services (OIS) on the Internet Computer blockchain allow communities to take full control and ownership of entire internet services — from social media networks and games, to open enterprise tech infrastructures — via participation in decentralized autonomous organizations (DAOs).
In Web3, you govern, own and shape your favorite internet services.
What is an SNS DAO?
Founder & Chief Scientist of DFNITY, Dominic Williams explains how the SNS DAO framework creates fully decentralized online services that are owned and governed by the community.
Benefits of SNS DAOs
Web3: user-centric ownership
While Web1 was all about users reading content on the internet, and Web2 writing and sharing content on the internet, Web3 embraces ownership of the internet. Not only do users own digital assets such as tokens and NFTs, they can also be a part of communities that administer the mass market internet services they love, from social media and gaming, to metaverse, DeFi and beyond. This becomes possible when an internet service runs entirely on the blockchain, and is controlled and updated by an advanced decentralized autonomous organization (DAO), which distributes voting power to community members in the form of governance tokens.
Open Internet Services via community DAOs
An Open Internet Service or OIS runs entirely on the Internet Computer blockchain, and is governed by a Service Nervous System (SNS) - an advanced community DAO framework responsible for controlling and updating the code of an online service. SNS DAOs take over the traditional role of a company, so there’s no CEO, board of directors or developers in control, just thousands of community members whose wishes are mediated through digital democracy algorithms.
From user to co-owner
Creating an open internet service involves a decentralization swap where participants exchange ICP tokens for SNS DAO governance tokens. The proceeds of the swap are then held in the treasury of each individual SNS DAO under the decentralized control of its governing community members. Governance tokens of open internet services or SNS DAOs can also be granted to those who help with tasks such as advocacy, creating viral content, and content moderation. This form of co-ownership has the potential to unlock a giant industrious virtual team of millions, all with align incentives and a collective goal to shape internet services into something they love.
Why join an SNS DAO community?
Decentralization
Services run on a fully decentralized network governed by their users, and without having to depend on a single party.
Rewards & incentives
Members can get rewards for participating in governance and incentives for tasks.
Autonomous updates
Community-approved proposals initiate autonomous execution of updates. No single entity alone can choose or stop the process.
User-centricity
Open internet services allow communities to align incentives and shape services.
Transparency
Governance proposals and service updates are publicly displayed on SNS dashboards.
Security
The SNS DAO framework has undergone security audits by Trail of Bits, with no severe issues found.
OpenChat raises 1M ICP in 6 hours
OpenChat was the first project to launch an SNS DAO on the Internet Computer, marking a significant milestone in the world of blockchain and social media as an open internet service.
Gold DAO
The Gold DAO represents a groundbreaking fusion of traditional gold and modern blockchain technology, allowing anyone in the world to access physical gold instantaneously, without depending on banks.
Sonic
The open DeFi suite on the Internet Computer blockchain governed by the people for the people. Sonic unleashes the potential of crypto trading through innovative DeFi products.
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Yuku DAOSNS DAO launchpad
Join an SNS DAO launch, participate in decentralized swaps and dapp governance.
Go to Launchpad