About the Grants category

Grants
1

About Grants

The Grants category is meant to act as a centralized version of the Contribution Proposal System to bootstrap contribution and participation in network growth prior to the development of the decentralized system.

This is a place where P-Reps and ICONists can use their rewards to offer grants to any ICONist/P-Rep, with the hope and expectation that this grant will be used to stake/delegate. Through this off-chain system, we can collectively further decentralize the ICON Network while continuing to stay in line with the ethos of Delegated Proof of Contribution.

Process:

Anybody can submit a Contribution Proposal or an RFP (Request for Proposal) and anybody can choose to fund a Contribution Proposal or reply to an RFP. A Contribution Proposal would be a request for funding for a specific project (e.g. “I would like to build a DEX, is anybody interested in funding this?”), while an RFP is for a P-Rep/ICONist to offer funding for a specific project (e.g. “I would like somebody to build a DEX and I would like to fund it – anybody interested in building it?”). Here are some suggested guidelines for submissions:

Contribution Proposals:

  • Topic Title: “Contribution Proposal: Name of Project”
  • Name (team and/or individuals)
  • Project/Initiative Description
  • Key Performance Indicators (specific metrics to track in order to gauge if the initiative was successful)
  • Budget Request
  • Contact Info (so teams interested in funding can set up a meeting to discuss)

RFPs:

  • Topic Title: “Request for Proposal: Name of Project”
  • Name (team and/or individuals)
  • Detailed specifications for the project
  • Budget Estimation
  • Contact Info (so teams interested in funding can set up a meeting to discuss)

After a Contribution Proposal is completed, the hope and expectation is that the teams involved in executing the proposal will provide a follow up report detailing the outcome of the initiative.

2

One concern I have is that during bear markets and ICONists have lost financial assets, what incentive do they actually have to delegate their rewards to these initiatives? I assume it will be more natural for P-reps, but ICONists? Doesn’t seem very likely in my opinion.

Solution: Have 1% of the block rewards be delegated to ICONists under the P-reps’ watch and ensure the tokens are delegated to good projects with ICONists being given a voice.

Example: Alice got 200 ICX that she can delegate to a list of organization/initiatives that has been put up and verified by the P-reps.

Outcome: More smooth and frequent delegations to build #ICONProject as a whole.

3

Hey Aspected - I completely agree. My initial expectation of this is that higher ranked P-Reps will have the opportunity to offer grants to individual ICONists and/or other P-Reps.

Your solution (funding with a portion of block rewards) is essentially what the decentralized Contribution Proposal System will be. The funding for EEPs/DBP will come directly from block rewards without an intermediary. When this system is live, any ICONist will be able to apply for a grant and be approved in a decentralized way.

3 Likes
4

We just published the first contribution proposal check it out if you are interested. https://forum2.icon.community/t/community-focused-0-trading-fee-dex/174

1 Like
5

Same expectations here. A chance to (partially) redistribute rewards from those who have abundance of them to those who don’t and can provide value.

6

This is a great initiative. The ICONation team is excited to review proposals and provide grants to projects that have been vetted and are supported by the ICON community.

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UBIK Capital is looking forward to seeing proposals and innovation that can be funded with ICX to grow ICON!