After much discussion and thought we are excited to share the next iteration of the Contribution Proposal System. We are primarily looking to the community to find any serious attack vectors to this system. As you are reading this, ask yourself “How could I take advantage of this? Is there any way I could easily get free money from this?” and things of that nature.
This is an ambitious project and much thought was put into limiting attack vectors while still trying to provide something that is actually useful. It should be difficult to attack, but not too difficult to use.
Some highlights of the features include:
Sponsor P-Reps: Each Contribution Proposal must be sponsored by a P-Rep in the top 100. The Sponsor P-Rep takes on the risk associated with the project by putting up a Sponsor Bond. This way an ICONist does not need so much ICX to apply to through the CPS, but at the same time the CPS can be secured through money at risk. A Sponsor P-Rep will also receive a reward if the Proposal is approved, and this reward implies a 10% ROI for sponsoring an approved Contribution Proposal.
Voting: Main P-Reps will vote on how to invest the CPF. It has the same requirements as Network Proposals, being 67% approval from 1 P-Rep 1 vote AND the stake-weighted vote.
Progress Reports: All Approved Contributions Proposals must submit a monthly Progress Report. If they do not, they get DQed automatically.
Pausing Proposals: If the Progress Report is unsatisfactory, P-Reps can Pause a Contribution Proposal. This stops funding to the Proposal until the next voting period.
Disqualifying Contribution Proposals: CPs get DQed automatically if they don’t submit a Progress Report. The Sponsor Bond of a DQed proposal is burned and the funding for the proposal will stop. Paused CPs can also be DQed if Main P-Reps vote do to so.
Here is the full paper: