IC Ghost ($GHOST) is the first MEME coin project on the IC chain, launched on the ecological application governance system SNS, where holders can vote on the project's governance. Currently, $GHOST has been listed on several DEXs in the ICP ecosystem, including Sonic, ICPSwap, and ICLighthouse. Due to the nature of MEME, many long-term ICP investors believe that $GHOST is one of the few projects that can help the still nascent ICP ecosystem rise.
Yesterday, we invited the IC Ghost team representative Palangga to visit the Chinese ICP community and hold an AMA. As the first AMA since the establishment of IC Ghost, Palangga answered many questions for ICP enthusiasts.
If you are an ICP enthusiast, after reading this article, you will understand:
- IC Ghost's future development plans
- IC Ghost's CEX listing plans
- Practical applications being developed by the IC Ghost team
The complete Q&A transcript is as follows:
Host: In the current crypto market, there are MEME coins based on emojis and MEME coins based on popular culture. Which category does IC Ghost belong to? Please give a brief introduction to IC Ghost.
Palangga:
IC Ghost is unique in the world of MEME coins, positioned at the intersection of humor and decentralized practicality. Our project actually originated from the idea of creating NFTs based on the ICP ecosystem. We have always been fond of cartoons related to "ghosts" and believe that the concept of "ghosts" is both interesting and intriguing. Therefore, we see $GHOST as a whimsical spirit that adds humor and a relaxed atmosphere to the crypto world. Our goal is to bring these humorous elements into the decentralized world while providing practical utility. Essentially, we hope that every member of the ICP community can find an interesting friend in $GHOST, making the entire ICP ecosystem more fun.
Host: Why did you choose to launch this project on the IC chain? In other words, what was the original intention of establishing IC Ghost?
Palangga:
In June of last year, we noticed a gap in the ICP ecosystem—there was no MEME project that could interact with the community in an interesting and relaxed manner. It was then that we decided to launch $GHOST. Our main purpose was to airdrop the majority of $GHOST to as many users in the ICP ecosystem as possible, in order to establish a strong and vibrant MEME ecosystem.
From the very beginning, $GHOST has prioritized the community. We initially adopted the EXT token standard, with 51% of the tokens being airdropped directly to community users. In addition, we also collaborated with a series of projects within the ICP ecosystem to provide additional airdrops to their users. If you are an ICP enthusiast, you have likely received $GHOST tokens and NFT airdrops.
After its launch on SNS platforms, $GHOST has developed into a 100% community-driven project. We firmly believe in the power of decentralized governance, which is why $GHOST is not just a MEME coin. Our community members are not just passive bystanders; they are active co-creators and true decision-makers behind the project. Driven by decentralized governance, this strong community participation sets $GHOST apart and distinguishes it from mere MEME coins.
Inspired by cartoons related to "Ghosts" from our childhood, we envision $GHOST as the "mascot" of the broader ICP community—a ghostly motif that not only brings smiles but also serves as an entry point to attract new users into the ICP ecosystem.
In essence, $GHOST is not just a MEME; it is centered around community participation and decentralized governance.
Host: IC Ghost was officially launched on SNS. Why did you choose to issue coins on SNS instead of independently issuing coins?
Palangga:
The decision to officially launch IC Ghost's tokens on the SNS platform was a strategic decision rooted in our core principles of community participation and decentralized governance. There are several key reasons.
Community participation: SNS is an ecological application governance platform on the IC chain that is community-oriented, which aligns well with our vision of creating a 100% community-driven project, which is crucial for the development and governance of IC Ghost.
Technical synergy: SNS provides us with existing tools and infrastructure related to DAO, allowing us to provide a better experience for the community.
Decentralization: Independent coin issuance often requires centralization, especially in terms of maintenance and governance.
Visibility and credibility: Launching on SNS provides us with a direct audience that is already involved in the ICP ecosystem. This not only gives us visibility but also provides the project with a certain level of credibility from the outset.
Resource efficiency: Independent construction often requires a significant amount of time and resources. Utilizing the SNS platform allows us to focus more on project development, community participation, and governance, rather than the technical details of token issuance and maintenance.
In summary, by launching on SNS, we reaffirm our commitment to community participation and decentralized governance. This approach ensures that IC Ghost is not just a MEME coin but a community-centric project.
Host: I will now ask about the future plans for $GHOST. Typically, for MEME coins to achieve large-scale growth, they rely on either pump and dump or token burning. As a DAO, how will $GHOST achieve growth?
Palangga:
In the world of MEME coins, rapid growth is often achieved through pump and dump, viral marketing, or token economics designed for scarcity and burning (destroying tokens to reduce the supply). However, as a DAO, $GHOST has a more comprehensive and sustainable growth approach.
Community-driven decision-making: As a DAO, $GHOST can benefit from collective governance. Each member has a say in the direction of the project, which not only improves decision-making but also deepens community participation and ownership.
Utility and ecosystem development: Our long-term roadmap includes providing a variety of valuable utilities for the community. From staking and mining in DeFi, a NFT marketplace themed around $GHOST, to a metaverse virtual world tailored for the $GHOST community, these utilities will drive user participation and create multiple value streams.
Educational programs: We will launch webinars and other educational content, where educated members are authorized to contribute more effectively to the $GHOST ecosystem.
Charitable activities: We plan to carry out charitable activities, believing that by making a positive impact in the real world, we can attract more responsible investors and promote the long-term growth of $GHOST.
Partnerships: We are collaborating with other projects and organizations to integrate $GHOST into a broader ecosystem, driving demand growth and increasing utility.
Cultural integration: Our goal is to make $GHOST a symbol of popular culture. By promoting outreach and entering the world of Web2 users, we can achieve organic and widespread growth, surpassing the limitations of traditional crypto communities.
Transparency: Transparency is key to trust, and trust is key to growth. We are committed to keeping our community up to date through regular reports, roadmaps, and open forums for discussion and voting.
In conclusion, while pump and dump and burning can bring rapid growth, they often lack sustainability. $GHOST aims to achieve a stable and sustainable growth trajectory under the drive of real utility, community participation, and transparent governance.
Host: In the Chinese ICP enthusiast community, many people believe that $GHOST and $SNS-1 are the most hopeful for achieving large-scale growth. Sincerely wish $GHOST success!
Host: Many ICP enthusiasts are puzzled as to why, after the launch of SNS Swap, many projects did not list on CEX as soon as possible. It is well known that listing on CEX is an effective way to attract funds and attention. Technically, ICP ecosystem projects can independently connect with CEX for listing plans without waiting for coordination from the DFINITY Foundation. Does IC Ghost have plans in this regard? What is the progress now? Please share with us.
Palangga:
We acknowledge that many members of the broader ICP community are curious and concerned about why many projects, including IC Ghost, have not listed on CEX despite being launched on SNS Swap. While integrating tokens with CEX does not pose significant technical barriers, there are other considerations.
Cost: Listing on CEX typically requires high listing fees, which may be burdensome for community-driven projects like ours.
Strategic focus: Our current focus is on continuously increasing the value and utility of $GHOST, thereby strengthening the community. We believe that the true value of a project depends on the breadth of its use cases and the strength of the community, not just its listing on an exchange.
Community trust: We understand the community's desire for CEX listing. We are actively working on it from multiple angles but are not committing to specific timelines, as we do not want to compromise the trust and support we have received from the community.
Host: But you should already have CEX partners by now, right?
Palangga:
We have contacted some CEX, but they have indicated that they will first study SNS.
Host: One last question, what are your views on the future of the ICP ecosystem? How can IC Ghost help the ICP ecosystem?
Palangga:
We are very optimistic about the future of the ICP ecosystem, and we believe it is a "fertile ground" for innovation and community participation. The IC chain's unparalleled focus on decentralization, speed, and security makes it the center of the next generation of digital services. As it gains more mainstream attention, we expect to see more projects being built and thriving on the IC chain.
IC Ghost is contributing to the ICP ecosystem. We are not just a MEME coin; we are a community-centric project aimed at increasing user engagement and promoting democratic governance within the ICP ecosystem. By introducing practical applications such as DeFi, NFT marketplaces, and the metaverse, we aim to expand the appeal and utility of the ICP ecosystem in the future.
Additionally, we hope to connect the ICP ecosystem with popular culture through various channels such as webinars, marketing, and offline gatherings. This will make it easier for ICP to reach a wider audience.
After the basic Q&A, community members asked some interesting questions to IC Ghost.
Community Member: You mentioned in the future plans to create a metaverse virtual world for $GHOST. Can you talk about it briefly?
Palangga:
We know you are all curious about $GHOST's metaverse! Our current focus is on creating an amazing game demo, which will lay the foundation for our vision. While we cannot reveal all the details yet, please know that we are committed to creating an extraordinary product.
Community Member: We are currently in a bear market. Therefore, due to the current market conditions being too unstable, it is causing investors to hesitate. Can you give me some compelling reasons to buy $GHOST in this market situation? And why should your token holders continue to hold?
Palangga:
Why invest in $GHOST in a bear market?
The first MEME coin in the ICP ecosystem: $GHOST is honored to be the first MEME coin in the rapidly growing ICP ecosystem, demonstrating innovation and foresight.
The first MEME coin launched on SNS and achieving 100% on-chain governance: As the first MEME coin launched on SNS and achieving complete on-chain governance, we are pioneering new territory. This is not just "our project," but owned and operated by the community. Team members hold only 4.08% of the tokens, and the staking period is at least one year. This ensures that our interests are aligned with the long-term development of the community.
100% of funds raised used for liquidity: All funds raised from SNS are being invested in liquidity. This reflects our integrity and unwavering commitment to the community.
Robust roadmap: DeFi and other practical applications, charitable activities, and extensive marketing plans are underway to add more value to $GHOST.
Resilient market performance: Despite the turbulent market environment, $GHOST remains strong, demonstrating our solid foundation and the community's trust.
Future potential: We are excited about the upcoming metaverse game demo.
Why hold?
Community ownership: $GHOST truly belongs to you, and every holder has a say in its future development.
Asset diversification: Our roadmap includes multiple practical applications, providing various ways for long-term returns.
Unity: Rome wasn't built in a day. Similarly, the "moonshot journey" of $GHOST is also a collective journey.
Community Member: The vote to burn the tokens for the formal $GHOST has been passed. When will this plan be implemented?
Palangga:
We are pleased with the enthusiastic participation of the community in the token burning proposal. The vote has been passed, but for us, it is important to act thoughtfully and responsibly.
While burning tokens may seem like a quick win, it may go against the core decentralized spirit of $GHOST. We believe in the sanctity of private property. Therefore, we will spend additional time engaging in deep discussions with the community to weigh the long-term impact of this decision.
Thank you for your continued support and active participation. The strength of $GHOST comes from the community, and we are committed to respecting the community's voice when making important decisions.
Community Member: Does IC Ghost's treasury need to change its LP strategy as soon as possible? I think LP can become a long-term source of income for the treasury, similar to MakerDAO's profit model, depending on the active trading volume in the community. Therefore, I think the LP should be adjusted as soon as possible. We can propose to use one-third of the treasury to buy $GHOST on the market and then reset the LP. Over time, there should be a good return, driving exponential growth in LP returns and funds, expected to push for listing on CEX.
Palangga:
Thank you for providing such an important suggestion, which makes us realize that LP can be a long-term source of income for $GHOST, similar to the profit model that MakerDAO relies on active community trading.
Your insights are very valuable, and we will prioritize researching the adjustment of our LP settings to enhance our long-term sustainability and profitability.
Once again, thank you for being an indispensable part of our community and helping us "aim" for new heights.
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