Easy Fundraising tool for new Icon based tokens

Contribution Proposals
1

Hey Icon fam! We wanted to develop an easy way for new Icon based tokens to fundraise/sell tokens. We came up with this swap system we want to further develop. It would be a centralized system for projects to collect funds in ICX and distribute their token. Initially you will be able to use ICX to make a purchase, but our plan is to add other chains so other coins could be used to raise funds for the project. It will work for extension based wallets like Iconex.

Additionally, something that worked really well for us when we did a fundraiser on Tron was have prizes. We will also build out a smart contract that can randomly pay out a random winner if the project chooses to use this feature.

Screen Shot 2021-08-20 at 11.49.59 AM
Screen Shot 2021-08-20 at 11.49.59 AM2694×1390 218 KB

For example:
Project A wants to raise $20,000. They have their token on sale and every purchase of 100 ICX qualifies for a chance to win a 1000 ICX prize. At the end of the specified time one randomly selected qualified purchaser will receive the bonus.

We are proposing to build this tech and give free access to Icon based projects that community approve. We would host the site and set it up for them for a small annual fee to cover server costs and time for adding token.

Scope of Work:

  • Refactor code base to accommodate Icon tokens (currently only Beatzcoin)
  • Update implementation to be configuration based where Token owners would only give the following information:
  • Distributor Wallet (address & key)
  • Icon Token contract address
  • Notification Webhook URL
  • Give ability for projects to use their own domains
  • Give ability to configure with their Logos, Icons, and Theme for front page
  • Give ability to give API access
  • Raffle Smart Contract Development
  • Raffle Smart Contract Integration (Front End and Backend)

Timeline:
2 Weeks for infrastructure
1 Week for Iconex integration
1 Week lottery smart contract
1 Week for Testing

Budget:
5900 ICX (Giving a 10% buffer because of ICX volatility)

Feel free to see a demo on our test site. Ted and I enjoyed leading the team when integrating Icon on VibraVid and we know this can add value to those many new projects entering the ecosystem.
You can contact us at any time if you are interested in sponsoring us for this project. @proguerra and @osaiastedian on telegram or twitter

See demo (This is on Test Net FYI)
https://buy.dev.vibravid.io/home

2

I understand we are phasing out of Iconex… we will make sure that service supports HANA. Also our funding request will be close to the 7K mark… since ICX price is very volatile we will adjust the request amount once the submission time comes.

1 Like
3

Looking forward to seeing this come to life. :slight_smile:

1 Like
4

Just so I understand correctly, is this similar to an escrow service for new projects?

Also, have you thought about creating a launch pad for ICON? Similar to https://starterra.io/ or https://avalaunch.app/ you could create a launchpad for new projects, and then maybe use something like the “TokenScoreFactory” to help people build their token as well?

5

This is a brilliant idea! This would be best suited for the CPS proposal we have to do on our ICON dex.