Schnoodle Retro: First 2 Weeks
The Launch of a Thousand Launches
What an incredible first 2 weeks it has been at Schnoodle!
The Schnoodle smart contract launched on Tuesday 27 July and quickly became one of the most successful token launches of 2021 within the DeFi and meme space. The much-anticipated launch saw unprecedented initial demand that called upon the Schnoodle team to act quickly and diligently through the night to manage a precarious situation as they went through the well-rehearsed steps to deploy the ecosystem of smart contracts, and add liquidity to Uniswap.
It really was the launch of a thousand launches, and at precisely 03:55 UTC we were live!
Within a very short time, we were trending on DEXTools (peaking at number 8), were being tweeted about by many well-known crypto personalities including Bitcoin Brown, CryptoAladeen and LilMoonLambo, and our socials were going off the hook with new Telegram entrants and new Twitter followers.
Our team, in particular our lead developer Neo, quickly became known for his ability to fiercely work hard into the small hours, diligently combatting and overcoming the few teething issues that beset the launch.
The community lauded the team for work ethic and transparency, as the SNOOD token went on to peak at a fully diluted market cap of $47.7 million (circulating supply based market cap of $19.1m)!
The Schnoodle Concept
One thing we were keen to emphasise to both our earliest and newest supporters is that Schnoodle is much more than just a meme coin.
While Schnoodle is setting itself against a meme backdrop to bootstrap early interest and adoption (we know people love memes!), we have always envisaged Schnoodle as a burgeoning and fully progressive DeFi DAO ecosystem in its own right, one that will ultimately be owned entirely by its community.
With oracle-based governance backed by multisig and timelock protection, Schnoodle is the first of its kind to become a true progressive DeFi DAO.
All of these concepts are articulated perfectly in our whitepaper, which we recommend you read if you have not done so already!
The element that our holders love most is Schnoodle’s BARK algorithm. This basically ensures that transfer fees are dynamically redistributed to holders proportionate to their respective balances relative to the total supply. The algorithm rewards loyalty, so new holders will only benefit from the redistribution of transfer fees after they become a holder. It’s the most praised part of the Schnoodle ecosystem — so far, anyway!
It’s also our mission to bring a multiplicity of uses and utility to the SNOOD token, and our first partnership with DePay, allowing SNOOD holders to use their token as a means of payment in DePay’s protocol and all their apps, is just the start of us fulfilling this goal.
Our lead developer Neo has continued to work diligently and tirelessly since the launch to realise the Schnoodle roadmap and to ensure we are considered the most bleeding edge DeFi meme token on the market.
As well as jumping through the usual hoops of locking liquidity using an efficient custom minimal proxy timelock contract, Neo was able to activate the SafeSnap DAO module within the first week, something that was planned for later in the year. This was a great and important step as it means that off-chain votes of contract interaction proposals (such as upgrades), once voted in favour and finalised via the reality.eth oracle, can be executed on-chain by anyone in the community after a 24-hour cool-off period.
Schnoodle is a true progressive DeFi DAO using oracle-based economic game theory for trustless on-chain execution of off-chain votes.
Neo has already released SchnoodleV2 which was deployed under the full autonomy of the community-driven DAO process thereby proving the concept and upgrading the code within the first week. No token swap required! That’s the beauty of Schnoodle’s sophisticated technology ecosystem.
And after just 2 weeks, SchnoodleV3 is already prepared on mainnet for another community vote via Snapshot. Neo has also commenced coding for the staking contract which is expected to go live during September (it will be unlike any other staking platform), and is performing an analysis, together with our team of experienced advisors, on how we will bring NFTs to Schnoodle.
Additionally, we are establishing who we will partner with as our chosen charity, which will be a key next move in showing the world that Schnoodle is a cryptocurrency with a conscience!
While Neo was pulling all-nighters writing code, as well as taking a rare break to pursue his hobby of skydiving and educating the community on why Schnoodle is truly bleeding edge from a tech perspective, Schnoodle was listed on CoinGecko, as well as becoming the number one coin on MoonBucks!
Now the team is working on a mouthwatering marketing campaign to bring Schnoodle to the masses, and we genuinely believe it won’t be long until everyone is talking about us!
We’d like to reiterate our long-term vision here, in addition to our values.
We have an ambitious roadmap ahead of us, including a staking platform that will boast fully flexible opportunities for stakers. And we also fully intend to include NFTs as an integral part of our staking platform.
We already have our first utility partnership with DePay, where SNOOD has become a payment currency. Ultimately, we intend Schnoodle to have further utility and for the direction of this to be determined by the community (as a DAO) with guidance from the team.
Everything we do will be done within the spirit of our core values at Schnoodle: fairness and trustlessness.
Fairness: we are creating an ecosystem where everybody who stays loyal steadily gains over time simply by holding, and no one gets punished if they remain true to Schnoodle. The team follow the pattern that we BUIDL relentlessly and with absolute diligence in the name of decentralisation and total trustlessness. No rug. No dump. No quitting!
Trustlessness: The team is a mere facilitator of the project, not a dictator. As an eventual pure democracy with no bureaucracy, the community can continue to build Schnoodle through the DAO forever with or without the starting team. For example, contract upgrades by the community are perfectly possible via SafeSnap, Gnosis Safe and reality.eth, the holy trinity of bleeding edge DAO technologies that Schnoodle uses.
Only 2 weeks since launch, and we have already achieved so much more than any other DeFi meme coin has ever achieved in that time.
The future is bright for Schnoodle. We hope you take the leap into our decentralised future with us…