[Grant Application] Stash — A rewards program for ICON

1. Title

Stash

2. Project Category

Development

3. Project Description

Stash is a rewards program for ICON.It enables a consumer to earn ICX when they shop online. Once they earn the ICX, they can then spend it using their Stash issued ICON debit card.

Stash pitch deck
https://drive.google.com/file/d/1kGpGsNHoRXaTXv2zFsKAWr761ISOFLjK/view?usp=sharing

How this benefits ICON

As a team, we’re really passionate about building software that helps to grow the ICON eco-system.

We see a typical user as someone that doesn’t yet own ICX, but would like to.

Stash enables them to start accumulating ICX risk-free. They are earning it rather than buying it. The barrier to entry is lower than ever before, and we see Stash as being the perfect onramp to bring them into the eco-system.

We believe this is a great top of funnel opportunity for ICON. As an example, part of the StormX vision has overlap with what we are building, and they already have 2.5M application downloads. By way of comparison, ICONex has 25K downloads.

How it works

Let’s imagine you go to Nike.com to buy a new pair of shoes. You’ll then see a notification appear on your screen to let you know that this is a Stash partner website, and that you can earn ICX rewards.

Once the purchase is complete, you will instantly receive a percentage of your transaction back as a reward — paid in ICX.

You can then transfer the ICX to a wallet of your choice, OR, transfer it to your ICON debit card, which you can use to spend in-store or online.

What we are building

We’ve broken this project into 2 stages. As this is a large project, we wanted to ensure we can get users onboarded and using it as quickly as possible.

This grant application is for stage 1 only.

Stage 1 includes:

  • Chrome browser extension: Enables the consumer to activate rewards on partner sites, track and manage rewards.
  • Android and iOS native application: For mobile shopping (which, makes up the bulk of online shopping), we will have a native app, where the consumer can discover supported retailers, create wish lists, track price drops, and of course track and manage their ICX rewards.

Stage 2 is the creation and management of an ICON debit card, which includes the ability to seamlessly transfer ICX to the debit card, which then converts it into fiat for use in-store and online. Stage 2 will be submitted as a separate grant via the CPF.

4. Project Duration

This project will be completed over a 5 month period. We will begin work in September, once ICONswap and Marvelous projects have been delivered, which are all on track for an end-of-August launch.

5. Milestones

September

  • UI/UX — 50%

October

  • UI/UX — 90%
  • Back-end — 20%
  • Front-end (Chrome extension) — 20%
  • Marketing site — 100%

November

  • UI/UX — 100%
  • Back-end — 80%
  • Front-end (Chrome extension) — 80%

December

  • Back-end — 100%
  • Front-end (Chrome extension) — 100%
  • Front-end (Mobile app) — 40%

January

  • Front-end (Mobile app) — 100%

All milestones are mapped to the attached user story estimates spreadsheet.
https://drive.google.com/file/d/1TprYHC9UmrUJOczORJ4MOlxE__Hs7yy9/view?usp=sharing

6. Funding Amount Requested

Stage 1 grant requested: $59,885

This amount may seem small compared to our vision, but we’re excited to deliver another high quality project for the ICON eco-system.

Funding will help us with product development, but doesn’t include:

  • Product/Project management
  • Partner account establishment and management
  • Ongoing admin management to keep deals/products up to date and continually grow Stash partnerships
  • Ongoing web DevOps
  • Infrastructure costs
  • Ongoing development

7. Official Team Name

ReliantNode

8. Contact Information

Twitter: @reliantnode
Email: team@reliantnode.com

9. Public Address

hx47bb00bff6e127c11c59baac56c58ceb9af2c74e

@Bongan is on vacation this week.

Review Result

Approved

Review Comments

Thank you for your grant application. We believe this project will directly help our KPIs of Monthly Active Wallets and increase the number of transactions on the ICON blockchain. We are happy to see a grant proposal with a business model that can grow beyond reliance on future grant opportunities. We hope this project can be successful and encourage more teams to follow. We look forward to this project as it will help grow the community of ICONists.

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

@minhx Thank you for the opportunity.

Our team is already under way and we can’t wait to release

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):

  • 2020/09/20 02:00 AM (UTC)
  • 2020/10/20 02:00 AM (UTC)
  • 2020/11/20 02:00 AM (UTC)
  • 2020/12/21 02:00 AM (UTC)
  • 2021/01/20 02:00 AM (UTC)

Funding Amount

The ICON Foundation is going to give out $59,885 in 5 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.

  • 2020/09/24 02:00 AM (UTC) - $11,977
  • 2020/10/23 02:00 AM (UTC) - $11,977
  • 2020/11/24 02:00 AM (UTC) - $11,977
  • 2020/12/23 02:00 AM (UTC) - $11,977
  • 2021/01/22 02:00 AM (UTC) - $11,977