ICON Community Grant Program
The ICON Community Grant Program (“ICON CGP”) is a centralized program run by the ICON Foundation to fund community projects benefiting the ICON community. This program will operate until the ICON Contribution Proposal System is fully developed and implemented on the ICON Network. Recommended proposal types include, but are not limited to: infrastructure, development, education, marketing, public relations, and community activities.
All ICONists can submit their proposals at forum.icon.community. If a grant is awarded, grant recipients will receive their ICX grants periodically based on predetermined milestones for the specific grant. Grant recipients will be required to 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. The submission cycle of the Periodic Report will vary according to each project’s duration.
The details of the Periodic Report should be concise and include: Reporting period, the submission date of the Report, details regarding milestones/accomplishments during the period, materials proving progress on the initiative, and expected results for the next period.
The ICON Foundation will first reach out to Proposers for an initial screening. Proposers will hear back from the ICON Foundation within two weeks of submitting the proposal and will hear back regardless of whether they were approved or rejected. Proposals will be reviewed by the ICON Foundation using the framework outlined below, and the ICON Foundation will provide the Initial Review Result Comments on the proposal.
Results can be: “Approval”, “Reject”, “Partial approval”, “Approval pending on revised conditions”
- “Partial approval”: Partially approved. Get the rest of funding from other interested P-Reps
- “Approval pending on revised conditions”: If the party agrees to the revised condition, grants will be funded
Grants recipients who receive the initial review results will respond to the Foundation’s response. If the recipient finally agrees on the outcome of the ICON Foundation, the foundation will provide the Final Review Result Comments.
- For approved projects, the grants will be funded on a predetermined date at a market price of ICX
- For partial approved projects, the grants will be funded on a predetermined date at a market price of ICX when the requested funding amount has been met with the support of other P-reps
- For “approval pending on revised conditions” projects, the grants will be funded on a predetermined date at a market price of ICX when the party agrees to the revised conditions
The review process is conducted via subjective assessments from the ICON Foundation, but the proposer may request one reassessment after the review process is over.
Below is a flowchart for the program’s operating procedures:
Proposal Review Framework
- Proposal Overview
- Does this benefit the ICON Network and/or community?
- Does the proposal provide enough information?
- Are there any risks for ICON community of this proposal?
- Is there overlap between this proposal and other initiatives?
- Is the roadmap reasonable?
- Do the team members have a relevant background?
- Public Good and Transparency
- Does the project fairly justify its budget?
- Are the deliverables and milestones verifiable and tangible?
Recommended Proposal Format
- Project Category
- for supporting the underlying code base of the blockchain - Infrastructure supporting tools, bug patches, node maintenance tools, etc.
- Developer support and product ideas - wallets, block explorers, dapps, developer documentation, etc.
- Community Activities
- Ambassador activities, public relations, meetups, educational content and activities, and web community development and management
- Project Description
- Project Duration (Maximum of 6 months)
- Project Milestones
- Funding Amount Requested
- Grant will be paid by ICX; however, it must be submitted on a US dollar basis
- Official Team Name
- Team Contact Information (e.g. e-email, telegram id, social media)
- Public Address (To receive the grant)