Whitepaper for Solnom
1. Executive Summary
Solnom is a unique dog-themed cryptocurrency on the Solana blockchain that merges an engaging theme with a serious commitment to social impact. Unlike typical meme coins, Solnom focuses on delivering tangible benefits through substantial charitable donations and community-driven governance. By leveraging blockchain technology and decentralized decision-making, Solnom aims to drive positive change in animal welfare while providing a robust trading platform.
2. Introduction
2.1. Vision and Mission
Vision: To demonstrate that a dog-themed cryptocurrency can achieve significant social impact and serve as a model for purpose-driven projects in the blockchain space.
Mission: To support animal-based charities through a dedicated charity reserve and to engage the community in governance decisions that shape the platform’s development and charitable efforts.
2.2. Problem Statement
The cryptocurrency space often lacks substantial social impact and meaningful community involvement. Solnom addresses this by integrating a strong charitable component and decentralized governance, bridging the gap between thematic engagement and real-world value.
3. The Solnom Platform
3.1. Dog-Themed Cryptocurrency
Theme: Solnom employs a playful dog theme to attract and engage users, while ensuring the project is taken seriously through significant charitable contributions and governance features.
3.2. Charitable Donations
Charity Reserve: 6% of trading fees are allocated to a reserve for animal-based charities.
Governance: Solnom token holders vote on which charities receive donations, ensuring that the community’s values guide the distribution of funds.
3.3. Governance Model
Governance Token: The Solnom token serves as the governance token, granting holders the power to vote on key decisions related to charity allocations and platform features.
Voting Power: Each Solnom token represents one vote, with greater voting power corresponding to the number of tokens held.
3.4. Dog Themed Cryptocurrency
Theme: Solnom employs a playful dog theme to attract and engage users, while ensuring the project is taken seriously through significant charitable contributions and governance features.
Why the Dog Theme?: We chose a dog theme for Solnom to align with one of our core project goals—supporting animal-based charities. The dog theme brings a fun and approachable element to the project while keeping our focus on supporting animal welfare organizations. This theme highlights our charitable mission, ensuring that Solnom isn’t just a meme coin but a meaningful project with real-world impact. Our aim is to create a strong connection between the playful nature of the project and our commitment to making a difference for animals in need.
4. Technology
4.1. Blockchain and Smart Contracts
Solana Blockchain: Solnom utilizes the Solana blockchain for its high performance, low transaction costs, and scalability.
Smart Contracts: Transparent and secure smart contracts facilitate governance, voting, and charitable donations.
4.2. Platform Features
Trading Engine: A high-performance trading engine supports efficient and secure transactions on the Solnom.exchange DEX.
Governance dApp: A decentralized application enables proposal submissions, voting, and transparent governance.
5. Tokenomics
5.1. Token Distribution
Total Supply: 100 million.
Allocation: Details on the allocation for development, community reserves, charitable funds, and other uses.
40% Presale: Allocated to early supporters through the token presale event. Details regarding lock-up periods or vesting schedules will be specified separately.
20% Staking: Reserved for staking rewards to incentivize token holders.
16% Liquidity Pool (LP): To ensure smooth trading on the Solnom decentralized exchange and maintain liquidity.
10% Development: Dedicated to platform development, upgrades, and future innovations.
10% Centralized Exchange (CEX) Reserve: Allocated for future listings on centralized exchanges.
4% Marketing: For promotional activities and increasing platform visibility.
5.2. Charity Reserve
Percentage: 6% of trading fees.
Distribution: In line with our mission to support animal-based charities, 6% of the trading fees will be donated to selected charities. Solnom holders will participate in governance to decide which organizations receive these donations.
5.3. Community Reserve
Percentage: 4% of trading fees.
Purpose: Set aside to reward active traders and incentivize participation on the Solnom platform. Criteria for rewarding active traders will be detailed separately.
5.4 Staking Rewards
Percentage: 20% Staking Pool.
Token holders who stake their $SOLNOM tokens will receive rewards from this allocation.
6. Governance
6.1. Proposal and Voting Process
Proposals: Solnom token holders can submit proposals for charity donations or platform improvements. Viable proposals are included in the voting process.
Voting: Token holders vote on proposals during designated periods, with each token representing one vote.
6.2. Transparency and Accountability
Blockchain Records: Governance decisions and voting results are recorded on the blockchain, ensuring transparency and accountability.
7. Roadmap
7.1. Milestones
Phase 1: Launch of Solnom token, initial platform features, and setup of the charity reserve.
Phase 2: Expansion of platform features, introduction of governance voting, and initial charitable donations.
Phase 3: Scaling operations, enhancing community engagement, and exploring new charitable initiatives.
8. Team
8.1. Team Members
Jacob Bryan: Founder. Visionary behind the Solnom project, overseeing strategic direction and development.
Matthew Telfer: Security Researcher. Ensures platform security and integrity.
Tristan Bray: Graphics Designer. Responsible for the visual design and branding of Solnom.
9. Legal and Compliance
9.1. Regulatory Compliance
Jurisdiction and Legal Framework: Solnom operates as a decentralized protocol on the Solana blockchain and adheres to legal frameworks within the jurisdictions in which it is used. Due to its decentralized nature, Solnom does not directly control or oversee user transactions beyond the scope of the underlying smart contracts.
Compliance with Local Laws: Users are responsible for ensuring that their use of the Solnom platform complies with the local laws and regulations of their respective jurisdictions. Solnom does not implement Know Your Customer (KYC) procedures, in line with the core principles of decentralization, but it is the user's responsibility to be aware of and comply with any legal obligations related to their participation on the platform.
9.2. Token Legal Status
Utility Token Classification: The Solnom token is designed as a utility token intended for governance and participation within the Solnom ecosystem. It is not marketed as a security, and holding Solnom tokens does not confer ownership rights or any form of equity in the Solnom project.
Tax Considerations: Users are responsible for understanding and fulfilling any tax obligations that may arise from their activities on the Solnom platform, including trading, holding, and participating in governance. Solnom does not provide tax advice and recommends that users consult a tax professional to ensure compliance with their tax obligations.
9.3. Risk Disclosure
Decentralized Nature Risks: Operating as a decentralized exchange, Solnom does not have a central authority, which presents unique risks. These may include smart contract vulnerabilities, liquidity issues, and governance challenges. Users must understand these risks before engaging with the platform.
Market Risks: The value of cryptocurrencies, including Solnom tokens, can be highly volatile. Users should be prepared for potential financial losses and participate in the Solnom platform according to their personal risk tolerance.
Regulatory Uncertainty: The regulatory environment surrounding cryptocurrencies and decentralized exchanges is constantly evolving. Users should be aware that regulatory changes could affect their ability to use the Solnom platform or impact the value and legality of Solnom tokens.
9.4. Terms and Conditions
Decentralized Platform Use: By interacting with the Solnom exchange, users acknowledge that they are engaging with a decentralized protocol and that no central entity is responsible for overseeing transactions or safeguarding assets. Users utilize the platform at their own risk.
Data Privacy: Solnom does not collect personal data through KYC processes, consistent with its decentralized model. However, users should be aware that blockchain interactions are public and immutable. Solnom encourages users to manage their privacy appropriately.
10. Conclusion
Solnom is more than just a dog-themed cryptocurrency; it is a platform committed to creating social impact and involving the community in governance. By integrating substantial charitable contributions with a robust governance model, Solnom offers a unique opportunity to participate in a meaningful, purpose-driven project while engaging in a dynamic trading environment.
11. Contact Information
Website: solnom.dog
DEX: solnom.exchange
Email: [Insert contact email]