[Grant Application] FutureICX 2.0 Gamified Trading Platform

Project Title

FutureICX 2.0 (gamified trading platform)

Project Category

Development - Gaming, Trading

Project Description

Hey everyone! As most of you probably already know, we have successfully released our dApp last month and we are very thankful for all the positive feedback that we have received for it.

Since launch FutureICX has generated over 4500 transactions on the ICON chain which have so far added 250 ICX to the ICON treasury. Close to 15000 ICX were distributed into our reward pools (5000 ICX via internal promotions and 10000 ICX via player activity) and were awarded to our players up to this point.

To celebrate our launch we have so far boosted the player reward pools with 5000 ICX, organized a price prediction competition, an AMA and a weeklong promotional event on the ICON Pilipinas’ Telegram channel – one with over 1.5k viewers

We have also submitted an FutureICX related deep-dive article on the Reddit, ICON community and the new ICON DAO forum pages, posts which have resulted in over 2k views and an overwhelming positive reaction from the community members:

https://ICONdao.moim.co/forums/QB28BMSQ7/threads/T2925Z3K8

We are incredibly happy with our progress so far but would like to do much more for the ICON system!

In order to do this, we have set in motion plans for a second phase of the app, which is meant to expand the price prediction concept from a single game to a full-scale gamified trading platform in which the separate games and functionalities are blending together in a strong cohesive way to provide maximum value to the chain. We would like to show off the capabilities of the ICON network, expand the player base as much as possible, break the confines of the closed ICON community and provide an engaging and rewarding product to a much larger audience.

What exactly will phase 2.0 of FutureICX bring to the players and the ICON chain:

New trading game #1 (placeholder name: Trenders):

Most experienced traders like to post charts with wave predictions, thus showing off their skills on predicting not only a single price target, but several price movement waves in the future. With this game such traders would be able to post custom charts with a brief explanation of their vision of the future price movements, the same way that they could do on Tradingview in example. The main differences are that: 1) the rest of the players would be able to ‘vote’ on whether they deem that a certain price movement wave is correct or not and wager a custom amount on this opinion of theirs, and 2) posting such chart on FutureICX could be much more profitable for the ‘poster’ as he/she will get a % (up to 5%) of the whole player activity on his post, depending on how difficult targets he sets for himself and whether his chart truly reflects the market movements

The players that are placing votes on the other hand would also be able to make good profit by correctly estimating whether a certain prediction wave is correct or not. The ones that are on the winning side (agree/disagree) will take their share of the losing side’s pool. As there would usually be an imbalance on the amounts placed on each side, the uneven pools will create a self-correcting odds system where you can either choose to take the safer side, where the rewards would be lower or take a risk and join the smaller pool and potentially win more.

The game will be highly customizable by letting the posters pick a trading pair, trading period (no matter if 1 minute or 1 day candlesticks) and even the level of risk that they will take (the % variation, in which the prediction will be deemed valid). All price updates and results will be provided (as in all other trading games on FutureICX) by a decentralized Band oracle.

Benefits for the chart posters:

Instead of placing charts on other sites, by doing so on FutureICX, a strong follower base and/or solid experience could mean significant gains generated from their followers’ activity

Benefits for the rest of the players:

An opportunity to generate gains by simply agreeing or disagreeing with another person’s charted prediction and/or reasoning, potential to receive higher rewards by seeing something that the other players don’t and ‘betting’ against the masses

Benefits for the ICON chain:

As there is no limit to the number of charts that could be posted simultaneously, there would be a potential for each of those charts to generate transactions for each of their respective incoming predicted waves. Potential switch of posters from tradingview or other similar sites to the ICON chain

New trading functionality (Challenge):

With phase 2.0 players will be able to create custom challenges and either keep them private by inviting one or more hand-picked players. They could aslo open the challenge to the public and test their prediction skills for the timeframes/pairs that they are most comfortable with.

The freedom to pick up different types of reward structure, custom pair/timeframe selection as well as setting a custom ticket cost or leaving a ‘no limit’ style competition would give the players the opportunity to settle disputes, set up custom invite-only tournaments or organize fun small customized community events.

Benefits for the players:

Highly customizable aspect of the FutureICX experience, letting the players organize their own events or placing predictions with a custom pair/timeframe combination.

Benefits for the ICON chain:

When the restrictions to the player experience are lowered, the players will be much more inclined to play more often by setting up their own challenges. Instead of only generating transactions on a daily and weekly basis and with a fixed pair, the players will have the opportunity to set up a game with their own rules and potentially have the experience last minutes (generating more transactions) or potentially weeks (locking up coins from circulation). This also opens up further the options for more trading games being executed simultaneously on the platform, increasing once again the potential transaction amount over a specific period.

New trading game #2 (placeholder name: Crypto duel):

We have thought long and hard about what is missing from the trading experience, compared to the gaming one and we believe that it is the sense of achievement. Remember what its like to play a 1vs1 game, having that personal connection with the person in front of you and trying to get into their head to find a way to secure your victory? There is no better feeling than outplaying and/or outsmarting that opponent and proving to yourself that you are better at the game than he is. Even if something goes wrong, you perform worse and somehow lose the battle, this still motivates to improve and show to the world that you could do better in the next game.

This is the feeling that we wanted to translate into our platform as well and that is why we have decided to go with a gaming-inspired 1vs1 trade game.

In it the players will be matched together in a several round MOBA style pick and ban phases, where they will have to face off 5 trading pairs that they have selected, against 5 that their opponent has picked. Each pair’s performance will be matched to their opponent’s one and according to how well the player has strategized in picking the better performing pairs and matching them correctly, they could win or lose the match

Benefits for the players:

A fast-paced fun 1vs1 challenge that could provide opportunity for the players to profit not only from their trading skills, but from their strategic thinking and adaptivity as well. The matching of different pairs would provide a unique experience where the players could benefit from their experience with other coins or their ability to track the crypto trading market in general. Skilled players can enter more than 1 game at the time, maximizing their profits even further

Benefits for the ICON chain:

Potentially high amount of transactions processed over shorter periods of time and generated on a more frequent basis (no lead/player gathering time is needed as only 2 players are matched, the playtime is also short and would provide good time optimization opportunities). The option for the players to benefit from their knowledge of other crypto chains and their price movements could pull/keep more players active of the app and respectively the ICON chain

New trading games #3 and #4 (placeholder name for the section: Trade wars):

So far we have catered to: the general player base (our Price Prediction game), the skilled chart analyzers (Trenders), the ones that would like fast-paced 1vs1 action and strategic thinking (Crypto duel) and we have even set up a custom challenge mode, where everyone can do their own thing. However, in order to make the experience on the platform complete, we have decided to go in one additional direction and implement a large scale ‘community vs community’ type game

Technically these are two separate games, however as they are both directed towards large communities, we have decided to place them into one common section:

King of the Hill

King of the hill is a community-based game that is mostly targeted towards large influencers (although anyone could participate in it in theory). In it one of the ‘influencers’ sends a private invite to one or more players that he would like to challenge with custom set rules (candle timeframes, trading pair, resolution time etc). After the invited participants have placed their predictions, the competition is open to the public and all players can vote (place wager) on whose prediction they think will be closest. The ‘influencers’ receive a small participation % out of all vote amounts placed for their prediction and they receive an additional bonus out of the whole reward pool if their team wins (if their prediction is most accurate)

The winning community receives the pools from all other participating communities and divides the rewards among themselves according to each player’s personal contribution (amount) towards the pool

Community war

Community war is a competition between two or more large communities where they could set their own team (or leave the participation open to the public)

The difference with ‘King of the hill’ is that each player in the team makes their own prediction and generates team points for their team according to the accuracy of their prediction (compared to all other participants) and their prediction size. The team points generated from each community member are summed up with those of the rest of the members of the same community and the team with most points wins the challenge.

The rewards for the winning team are distributed according to each player’s individual contribution and performance

Benefits for the players:

Options to create large team- or community-building events and to engage in friendly (or not so friendly) competitions between the communities. Opportunity for influencers to set up frequent or even scheduled on a regular basis events or competitions, to increase their popularity and provide an option to their followers to support them in a fun and non-invasive way (with possible gains for them on the line as well)

Benefits for the ICON chain:

As most communities are not fully focused on the ICON chain, such events could show off the ICON network’s capabilities and might attract additional ICONists. Because of the mass nature of the events, they would also result in a burst of transactions (out of which possibly some will be made with freshly bought ICX in order for the followers that don’t own ICX to support their community/community leader)

BTP Proof of Concept, Fee 2.0 and Virtual Step

This is actually the part that we are most excited about! This is something that we have been planning for a while and that we have thoroughly discussed with @benny_options on several occasions. What we would like to do is to really show to do rest of the networks what ICON is capable of. And while at the moment there is no BTP option implemented on a protocol level, we would like to try to build a connection to the other blockchains via a private BTP relay and set up a system in FutureICX that will accept different crypto currencies as payment methods, but will still run on the ICON chain and use ICX for its internal transactions.

In order to be able to execute such complex plan, we have expanded the team that will work on FutureICX 2.0 by inviting a member of the ICONation team - Spl3en (one of the best SCORE developers currently working on the ICON chain) to join the development of the project and assist us with his significant skills and experience on the SCORE part of the project.

As this is quite an ambitious project for us, we have also been doing a lot of research into the available options. We are aware that due to some additional modifications that need to be set up for such system from the ICON’s side, deploying such relay will have to be delayed by at least a few months after the completion of phase 2.0 of FutureICX. This does not discourage us at all though and during phase 2.0 we are planning to set up a core system upgrade, which will serve as a basis for this private BTP relay plan

Basically, what we are planning to do is to set up the whole system in a state that would be ready for the relay implementation, we will configure it to use Fee 2.0 and Virtual Step and will implement a token system that will pull transaction info from any ICON based tokens (as the payment information will be transferred from the other crypto chains to the ICON chain via such tokens). That would mean that as soon as (with the help of the ICON team) we are able to set up a relay to another network, we will have a system ready for it and we will not waste additional time setting up anything else but the relay. In the meantime, while we wait for this to happen, as the system will be configured to use ICON-based tokens. It could be used with TAP, WAN, ICD or any other token that the community is interested in playing on FutureICX with

Onboarding/UI/UX

We have teamed up with the Hola ICON team to provide a better onboarding experience by developing several hands-on video tutorials to our new players and make sure that FutureICX’s basic functions, structure and game systems are properly explained in an easy to understand visual way.

We are also planning to implement a visual rank and status system for the players’ profiles where the players showing off their stats, affiliate links, achievements etc could visually represent the level of their skills and commitment to the community thus earning the respect of the other community members

Project Duration

The second part of our project is shaping up as a much larger project, but our team for it will be larger as well, so we should be able to finish it within a 4-month timeframe

Project Milestones

As the FutureICX 2.0 upgrade would consist of some quite complex interactions between separate teams, specific milestones in fixed intervals would be difficult to set

However as usual we will provide a monthly report of our progress and we suggest that based on this report the Grant can either be funded with the appropriate 25% funding (1 out of 4 months of development) or suspended temporarily if the progress does not correspond to the Foundation’s requirements

Funding Amount Requested

If the ICON Foundation is willing to provide this Grant to us, funding will be required for the building of the project only. All management, PR, promotional, or other miscellaneous costs will be covered by the node rewards and nblaze’s personal funds

The specialists involved in FutureICX 2.0 (and the respective funding request for their work) are:

  • 1 Team manager (nblaze – Midos prep) – 0 $ requested
  • 1 PR expert (Corey C – Midos prep) – 0 $ requested
  • 1 UX/UI Designer (Sharpn prep) – 2700 $/month
  • 2 Fullstack developers (Sharpn prep) – 2 x 2900 $/month
  • 1 SCORE developer (Spl3en – ICONation prep) – 2900 $/month
  • 1 Video content specialist team (Team lead Ruben - Hola ICON prep) – 700 $/month

Total funding requested: 48 400 $ (4 months x 12 100 $)

Team experience

nblaze (Midos)

nblaze is a dedicated community member with over 15 years of experience in management and project optimization as well as in-depth knowledge of the online gambling systems and structures. nblaze has been actively supporting the ICON project for the last 2 years as an Iconist and in the last 6 months – as an ICON P-rep. Although his experience as developer is limited, he actively collaborates with other more knowledgeable members on the chain in order to achieve the contributions that he is aiming for

Corey C (Midos)

Corey C has been an active community member since early 2018. He has in depth knowledge on blockchain marketing and cryptocurrency education. Corey has consistently proven to effectively collaborate with numerous different P-Reps through his show, ICX Weekly and was also named ICON’s first ICONSENSUS Ambassador. He is proud to boast many ICON specific achievements such as:

First ICONSENSUS Ambassador

Former team member of Ubik Capital and ICONVIET

Host of the YouTube show “ICX Weekly; The Democratic Chronicles, boasting over 15,000 views.

Named ICON’s most influential Twitter personality (Lunar-crush)

Has interviewed prominent cryptocurrency YouTubers such as Crypto Lark, Ian Balina, Peter Saddington and more.

Team Sharpn

Sharpn is team of blockchain builders that has been active on the ICON network for almost a year and a half. They are convinced that the IISS model is the best way for a Blockchain ecosystem to move forward efficiently and that is why their team is focusing exclusively on this blockchain ecosystem. They have built several ICON related DApps and utilities such as:

FutureICX v1

Devblockchain.tech

Certiv, winners of ICON got talent

An ICX faucet

Spl3en (ICONation)

Spl3en is a member of the ICONation P-Rep team. He has been actively assisting and supporting the ICON developer community on ICONdev.io, ICONDev Telegram, and other various ICON related developer channels as an administrator dating back to 2017. He has demonstrated an excellent understanding of the ICON blockchain by contributing directly to the official ICON project source code. He has developed multiple tools for ICONists and ICON Developers, such as:

- ICONSwap (ICON DEX)

- SCORELib (SCORE data structures)

- Hylian + Daedric (ICON USD/ICX Oracle)

- Unofficial ICON C++ SDK

Team Hola ICON

The team consists of: Ruben, a Project Manager with more than 15 years’ leadership and technical management experience; Frink, a Computer programmer with over 15 years of professional experience in the video game industry; and Dare, an Industrial Designer and video amateur editor, all highly skilled and dedicated members of the community

Their aim has always been to expand the ICON Ecosystem and educate the community in every aspect related to it. They are focused currently on the Spanish speaking community, and on providing assistance on the marketing side of various ICON dApps and developments.

Official Team Name

Project submitted by prep team Midos

Team Contact Information

Email: ardin.airy@gmail.com

Telegram Id: https://t.me/nblaze

Twitter: https://twitter.com/ICONMidos

Public Address

hx5284d15e2b130b4d76149aae1a9409d5fab0c9c2

Initial Review Result Comments

Review Result

Approve

Review Comments

We are very excited to see the successful launch of your dapp and your interest in continuing to grow this project. You have many interesting ideas in this grant application and we are looking forward to the future of your dapp.

Please provide some KPIs for your project so we can measure together the success of this next grant. Please think about which features can increase these KPIs most effectively. We suggest these KPIs but you can propose any KPIs. Also, please include target KPIs for the end of the next 2 month period. Here are some examples below, you can pick any numbers and any KPIs.

  • DAU Target: 100 users
  • ICX daily volume target: 100k ICX
  • Daily Transaction Volume: 100
  • FutureICX monthly revenue target: 10k ICX (you can keep this private we understand maybe you do not want to post on forum)

Next Procedure

ICON Foundation provided the Initial Review Result Comments on the proposal. Grants recipients will respond to the Foundation’s response. Depending on your comments, the foundation will provide the Final Review Result Comments.

1 Like

Thank you very much @Bongan (and respectively ICON Foundation team) for the positive response to our request!

Although projecting specific future KPI values for our project would be a hard task due to the unique nature of the app (we have no valid reference points for our potential results), we believe that the following targets should be fair and achievable:

KPI targets for the next 2 month period:

DAU target: 35 users
ICX daily volume target: 1000$ (if you dont mind we prefer to set up the volume target in usd as we believe that a lot of players will hesitate to place a 200 ICX prediction if next month the ICX price jumps to 20$ in example. Setting this target in USD should give us the opportunity to evaluate the KPI without re-negotiating it)
Daily transactions: 200 txs

KPI targets for the end of the FutureICX v2 project:

DAU target: 100 users
ICX daily volume target: 3500$
Daily transaction volume: 500 txs

Please confirm if you would be happy with such KPIs as well or if you would like to suggest a correction to one or more of them.

I would just like to note that these targets are set as approximate reference points. In reality we will do our best to perform as high as we can and hopefully reach results much higher than the ones above. Once we reach the point where we are able to fulfill our BTP based plans, that should also open the doors for much more significant channels of adoption for FutureICX (and respectively ICON/ICX).

On a final note, we have discussed this among ourselves and instead of setting up a monthly revenue target, we believe that we would be able to offer something that would show our dedication to the ICON system even further.

As this Grant will assist our development process a lot, we have decided that as a form of appreciation for the ICON chain and community, starting from the beginning of next month, we will decrease FutureICX’s commission rate from 5% to 2.5%. We sincerely hope that by providing this extra value to our players, we would be able to secure a larger playerbase and add an even greater value to the chain!

Hey everyone!

There is slight amendment to the project’s plans that we would like to share with the Icon Foundation team and the Icon community

As discussed with @Bongan on Telegram, we will need to make some changes to the project team’s structure as team Sharpn have decided that they would like to move their focus towards assisting more the expansion of the Icon developer community and will not be able to take part in the second phase of FutureICX’s development. We believe that this is a great initiative on their end and while a bit sad about having to part ways, we are very grateful for their assistance on the project and we are sure that the Icon dev community will benefit greatly from team Sharpn’s improved focus in that direction

In order to proceed with the FutureICX v2 project as planned, we have onboarded two additional members to our team:

Alin is a designer with over 10 years of experience. He has a lot of varying experience, including prototyping and building the overall design of web and mobile apps. His focus is usually on the user experience and to achieve the UI/UX combination he always does extensive research of the similar apps on the market, tries to visualize every aspect from the user’s viewpoint and tries to achieve the best possible solution where the structure and visual representation of the app are as intuitive and visually pleasing as possible

Rinalds is a web and mobile full stack developer with over 15 years of development experience and a recent focus on cross-platform financial market applications. His professional experience includes a wide range of technologies and APIs and the apps that he has developed in the last 2 years have had over 1 million combined downloads and hundreds of users trading online on them at any given time. He has architected, developed and marketed multiple commercial web software products, websites and mobile applications of his own and worked on hundreds of customization projects for these products

While these changes in the team’s structure will not change our plans in terms of timeframes, goals and will not lower the project quality that we will deliver, they will result in some changes in the project’s costs. The updated planned costs for the project will be as follows:

  • Team manager (nblaze – Midos prep) – 0 $ requested
  • PR expert (Corey C – Midos prep) – 0 $ requested
  • UX/UI Designer – 4200 $/month
  • Fullstack developer – 7200 $/month
  • SCORE developer (Spl3en – ICONation prep) – 2900 $/month
  • Video content specialist team (Team lead Ruben - Hola ICON prep) – 700 $/month

Total projected costs: 60 000 $ (4 months x 15 000 $)

However as the project has been already approved with the previously submitted costs, we will not ask the Icon Foundation team to cover any additional costs related to this change, so the even with the updated team, the funding request will not differ from our original one

Total projected costs: 60 000 $
Difference covered by nblaze: 11 600 $
Total funding requested (as per our original request): 48 400 $ (4 months x 12 100 $)

Final Review Result Comments

Review Result

Approved

Reporting Period

Grant recipients should produce Periodic Reports in order to continue to receive grant funding. If the Periodic Report is showing that the initiative is not meeting expectations, the ICON Foundation has the option to halt continued funding. Please check the link (ICON Community Grant Program (“ICON CGP”)) and leave reports on this page (https://forum.icon.community/c/g/pr)

The team must submit the Periodic Report by the timeframes below (UTC):

  • 2020/09/27 02:00 AM (UTC)
  • 2020/10/28 02:00 AM (UTC)
  • 2020/11/28 02:00 AM (UTC)
  • 2020/12/28 02:00 AM (UTC)

Funding Amount

The ICON Foundation is going to give out $48,400 in 4 monthly installments based on the Periodic Report. The amount of ICX will be determined and paid according to the price at 02:00 AM (UTC) on the day of payment.

  • 2020/09/28 02:00 AM (UTC) - $12,100
  • 2020/10/30 02:00 AM (UTC) - $12,100
  • 2020/11/30 02:00 AM (UTC) - $12,100
  • 2020/12/30 02:00 AM (UTC) - $12,100
1 Like