Join in ELNA SNS [2nd March - 15th March]


ELNA is establishing the ELNA DAO to govern and guide the development of the ELNA platform as a public good owned by the community. The ELNA DOA and its services will run on the Internet Computer powered by NNS-approved SNS canisters and SNS subnet, ELNA seeks approval from the NNS to create and support this decentralized autonomous organization (DAO). A proposal to the NNS to request the necessary approval to launch the ELNA DAO may be found here

Creation of ELNA DAO

To initiate the creation of ELNA DAO, the founding team will submit an NNS proposal specifying the parameters of the “decentralisation sale” and initial token allocation. If the proposal is accepted, the NNS will trigger the decentralisation sale of $ELNA tokens based on the proposal - to decentralise governance of the platform to token holders and raise funds for future development and growth.

Participation in the swap will be open to anyone outside the United States of America. Users can take part in the sale via the NNS launchpad, by depositing $ICP.

Upon completion, participants will receive an amount of $ELNA tokens equal to the deposited amount of $ICP. Proceeds of the sale will be held in an ICP ledger account owned and governed by the newly formed DAO.

Control of the ELNA DAO

After the decentralisation sale, the DAO will be in control of the ELNA platform, including its treasury of $ELNA and $ICP.

Following the decentralization sales, the SNS will assume control of ELNA, including its

treasury of ELNA and ICP tokens. This means, to make changes to the platform or access the treasury, a proposal must be approved by the DAO. Anyone can submit a proposal to the DAO, which can be voted on by ELNA holders.

Governance of the ELNA DAO

Proposals to the DAO may take the form of:

  • Motions: Motions serve as expressions of intent without mandating specific actionable outcomes upon approval. They can be utilized to suggest new functionalities, dictate development team priorities, and more.

  • Canister Upgrades: An upgrade proposal for canisters includes the canister's ID and a WebAssembly (WASM) module. Upon approval, the Service Nervous System (SNS) will update the specified canister's code with the new WASM module, facilitating enhancements to the application's smart contracts.

  • Configuration Changes: Modifications to the ELNA SNS configuration are possible. Detailed information regarding the initial setup parameters can be accessed [here].

  • Token Transfers: Proposals for enabling the movement of tokens into or out of the DAO's treasury are permissible. The treasury is capable of holding any token native to the IC ecosystem, such as $ICP, $TRAX, $ELNA etc.

  • Burning Tokens: Proposals to burn $ELNA tokens can be submitted as a method to decrease the total circulating supply.

Proposals post SNS

Upon successful completion of the decentralisation sale, the founding team will publish a handful of proposals to kickstart ELNA’s development and growth roadmap.

These may include:

  • Proposals to transfer $ICP and $ELNA to DEX’s to create initial liquidity pools & enable trading of $ELNA

  • Proposal to transfer $ICP to the canister management canister to pay on-going hosting fees (called “cycles”)

  • Proposal to transfer $ICP to fund the operation of ELNA, including team salaries, operating costs, legal & administrative expenses

  • Proposal to transfer $ELNA token for LBP ELNA token holders.

  • Proposal to list $ELNA in Coin Market Cap & Coin Geeko.

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