Max Supply --- 440,000,000 SNM
🏗️ Platform ------- Ethereum
SONM is a decentralized worldwide fog supercomputer for general purpose computing from site hosting to scientific calculations. SONM company is an effective way to solve a worldwide problem – creating a multi-purpose decentralized computational power market.
Unlike widespread centralized cloud services, SONM project implements a fog computing structure – a decentralized pool of devices, all of which are connected to the internet (IoT / Internet of Everything)
Virtual currency used for payments in SONM is SONM token.
It is a ERC-20 standard token, based on Ethereum. The token is published both on Ethereum main network and in SONM blockchain. In the latter case the token is called SONM blockchain token. The tokens in both blockchains can be converted between each other at rate 1:1 using Deposit and Withdraw functions on SONM GUI.
Token’s purpuse is to be used as a payment carrier for SONM computing power market. Token is designed as an utility token (not a securities) according to Singapore law (SFA, FAA), juridical practice and MAS definitions.
Each deal has a price in USD, but all transactions are made in SONM blockchain tokens using current SONM token rates on major cryptocurrency exchanges (Binance, Okex and others).
Current situation leads to the necessity of creating a fair mechanism for SNM token holders cooperation on mutually beneficial decisions what should be the next steps of SONM platform development.
DAO is a decentralized autonomous organization that might help to govern community decisions using smart-contract technology. Implementation of the DAO should create a democratic decision making mechanism, that would be beneficial to all SNM token holders.
SONM DAO Creation value proposition (benefits):
- Common ownership of assets;
- Distributed and fair decision making;
- Funding of further initiatives if needed;
- Fundraising for the benefit of the DAO;
- Additional utility for the token;
- More inclusion of SNM token holders in the project;
SONM DAO also has some potential limitations (threats)
- Discrimination risk (majority towards minority);
- Sybil attack (attacker takes all);
- Immobility (reluctancy of voters/disagreements);
DAO threats can be addressed by creating robust governance system based on reputation.
DAO will be created using customized Aragon DAO instance (aragon.org) as the most advanced DAO creation stack up to date. Several applications will be deployed on the Creation phase, some of them could be deployed further on DAO adoption by the community.
The main goal of SONM DAO Creation is raising demand for SONM platform services and SNM token price increase.
A very high percentage of the existing IT load could be transferred to the cloud. Furthermore, it’s worth noting that IT is the only sphere of the economy that is showing stable year-on-year growth. In April 2018, analysts from Gartner published the results of research into the global cloud resources market. In 2017 the sphere grew by more than 30% thanks to IaaS infrastructure services and software provided as an SaaS service, and the total amount spent by consumers and companies on cloud services provided through public access was $153.5 billion, versus $118 billion in 2016. Also, according to statistics, sales of IaaS solutions have grown from $25.3 to $30 billion, and the SaaS and PaaS segments have grown from $38.6 billion and $7.2 billion to $60.2 billion and $11.9 billion respectively.