Referendum #450

Retroactive funding for development of KSM.FUN. Pre-launch phase on Kusama as parachain.

Gqrk...Bogy

Medium Spender

3mos ago

13 Comments

Executed

Content

AI Summary

I am rust.dev and I am super bullish on Kusama.

I believe that our Wild Bird Kusama is the perfect place for chaos, experiments and now fun.

As current market narrative of meme season and one click tokens deployer as pump fun(Pump.fun daily revenue outpaces the next 24 protocols combined) or sunpump meme(1M$ in revenue in 11 days) showed that this kind of product on top of tron and solana L1 solution has got those ecosystems up from the knees.

KSM.FUN is a parachain:

— UMP/DMP XCM trasnfer configured for parachain runttime to support transfer of KSM from relayer chain and back.

— Kusama (KSM) is native currency FOREVER.

— OpenGov for KSM holders. Similar to kusama open gov but just faster track to make desision faster.

— Native dex.

— 0% fee on trade compared to 1% each trade fees on pump.fun (this improvement will allow to bring a lot of volume and users to Kusama)

— Integration of Assets pallet. Config prevents RUGS so it is ONLY possible to create a token via launchpad extrinsic.

— Simple user flow to execute only 1 Launchpad extrinsic that:

— creates a new (meme) token. For example GLITCH .

— creates a pool of new tokens with KSM. LP KSM-GLITCH deploy liquidity.

— buys the desired amount of tokens from the pool in the same extrinsic. (optional)

I won the last parachain slot in Kusama history. It was called Memecoinchain. But since then it has changed its name to KSM.FUN that I believe is more vibrant to attract more users and activity into the Kusama ecosystem. So in the next few weeks KSM fun will be deployed as parachain.

All logic and functionality is tested with a zombienet and contains the polkadot version to support 6 sec block time. We are team of 3 devs, 2 blockchain substrate rust devs and 1 Front-end Web3 Dev.

I am actively developing bridges and DeFi for the polkadot/kusama ecosystem during the last 4 years.

This is my first treasury proposal on Kusama.

My contacts:

Github: https://github.com/rustninja

Linkedin: https://www.linkedin.com/in/rustdev

Telegram: https://t.me/rustninja

Youtube channel about polkadot/rust substrate development about.web3.online.

Source code of ksm.fun parachain for Kusama.

https://github.com/ksmfun/ksmfun

— DEX pallet. create pool, add/remove liquidity and trade

— Launchpad source code

— Integration into KSM FUN logic into runtime: https://github.com/ksmfun/ksmfun/blob/main/templates/parachain/runtime/src/configs/mod.rs#L163-L235

Here is a video of testing KSM.fun on polkadot js overview of functionality of creating new tokens in one extrinsic and starting trading them immediately.

https://youtu.be/yzbVWxLXwQU

Thank you for your time and support.

I am glad to hear any feedback and opinion from you Kusama bulls.

Request

720KSM

Status

Decision14d

Confirmation1d

Attempts

Tally

50.1%Aye

50.0%Threshold

49.9%Nay

Aye

≈166.84KKSM

Nay

≈166.41KKSM

0.0%
0.0%
0.0%

Threshold

Support(0.25%)

≈37.53KKSM

Issuance

≈15.17MKSM

Votes

Nested

Flattened

Calls

How OpenGov works↗

Call

Metadata

Timeline6

Votes Bubble

Statistics

Comments

Dm4u...1Xkk

So its like pump.fun for KSM right? You see its already decreasing interest on Solana. Do you think its still actual?

Dm4u...1Xkk

I am not sure about the exact success of the meme use case, but I do support the KSM.fun idea in general. Think about a small game for money. I vote AYE for this proposal. We need such a passion about Kusama from the all devs and teams.

Edited

H1qz...KUFs

It's good. I hope this project succeeds.

DG8Q...5nFh

Hello, on behalf of the AIWeb3 DAO (the most vibrant Chinese community within the Dotsama ecosystem, with the mission to amplify the voice of the Chinese-speaking community and support Chinese content creators, ensuring it plays a pivotal role in shaping the future of Dotsama eco),

We sincerely invite you to join our Twitter Space which is held every Tuesday at 10 AM (UTC+8) on our official Twitter: https://x.com/aiweb3dao. Please join our Telegram group if you have any questions, English TG group: https://t.me/aiweb3dao_eng and Chinese TG group: https://t.me/aiweb3dao

Comments: we have discussed this proposal in the community, and some community members shared positive comments about this proposal for the reasons: 1. reasonable amount of KSM 2. Development on Kusama is encouraged. 3. the proposal had made quite a few youtube videos for the eco before, hope the proposal will continue and share more updates about this proposal. 4. Users can use Hydration for meme coin, is there a need for a parachain?

您好，我代表AIWeb3 DAO，这个波卡生态中最具活力的中文社区，旨在放大中文社区的声音，支持中文内容创作者，确保其在塑造波卡未来中发挥重要作用。
我们特地邀请你们参加我们的Twitter空间是每周二上午10点（UTC+8），在我们的官方推特：https://x.com/aiweb3dao. 。如有任何问题，请加入我们的Telegram讨论：英文Telegram https://t.me/aiweb3dao_eng ，中文 TG group: https://t.me/aiweb3dao。

FDL9...finf

I do not think blockchain, in general, is a technology meant for things like meme coins. These coins typically inflate a bubble, and those who act first close their positions while others are left holding the bag. I understand it's seen as a funny way to make money easily, but I have another suggestion. How about requesting 7.2k KSM to build something that can make Polkadot/Kusama usage as easy as an SDK or framework, to attract engineers?

HqRc...fVZn

This feedback comes late but after discussion with the proposer.

I am not a fan or supporter of memecoins or pump type applications as it embodies aspects of blockchain that I dislike. On the other hand, I am a supporter of other aspects of the proposer's "portfolio".

It was my intent to abstain but given that the proposal was passing without any hinderance I didn't see the need to make any adjustment.

Congratulations on the success of your proposal.

Edited