(I realized that we jumped the gun and already submitted the proposal through the CPS before posting it here. If we need to reject it this period and re-submit it next one, that is OK)
ICX Relay App
We’re excited to put forth a proposal for a new application built on and for the ICON network called ICX Relay. The concept is relatively simple, but the scope and vision of the project in the long term is large. This proposal is covering Phase 1 of the initial development and launch of the ICXrelay.app website and core functionality.
In short, ICX relay is a tool that will allow the assignment of ICX and IRC2 tokens to email and mobile phone recipients, allowing users who may not be familiar with cryptocurrency to be anonymously sent ICX or IRC2 tokens only they can claim with their validated email address or phone number. Additional development phases will expand the functionality by integrating projects like the Bridge app as a seamless on/off ramp for users who want to immediately convert their transfers and also allowing payment requests that can be fulfilled using mobile devices. A powerful RESTful API that will allow ICX relay to be integrated into other projects easily will also be built and launched for developers.
The ICX Relay application will be a simple web interface where ICONists can create and send transactions for mobile phone numbers or emails using ICONex or other official & integrated ICON wallets. By leveraging the widely used Twilio API, ICX Relay will notify recipients of the transfer and provide them a link to claim the transfer. Upon clicking the link, they will be redirected to ICXRelay.app, where they will be prompted to verify their phone or email and either create a new wallet to receive the funds, or provide an existing wallet address if they have one. Users will be presented with information about ICX, how to create and use ICX wallets, and basic information on cryptocurrencies and how to use them. This is aimed at helping to onboard and educate new crypto users.
Behind the scenes, ICX Relay will leverage an ICON SCORE (smart contract) to receive and store the funds from the sender, as well as the encrypted recipient information which will be logged in the smart contract. When a user claims the transfer and verifies their ownership of the recipient account, a transaction will be created with the target receiving address and sent to the SCORE for storage and distribution. The ICX Relay application will be responsible for the validation of user information, the creation of new ICX wallets for recipients (if desired) and creating & sending transactions from the SCORE contract. All transactions from senders will be originated, sent and signed by their owners through ICONex or other official and integrated ICON wallets.
Each transfer will also include an a mandatory, but flexible, expiration period as defined by the sender with a minimum (3 days) and maximum value (365 days), to prevent funds from being permanently locked in the contract by unclaimed or “dead end” recipients.
A nominal fee, paid in ICX by the sender, will be applied to each transfer to cover the operating cost and further development of the platform features. While the fee may vary based on the relative USD price of ICX, tentatively the fee is set at (.05ICX) per transfer.
The Phase 1 objectives bring value to the ICON network by:
- Providing an easy to use platform to introduce new users to crypto currency through mobile and email communications (education & exposure)
- Generating new wallets
- Increasing transaction volume
Additional development phases will provide additional value to the network by:
- Integrating other ICON projects such as bridge
- Providing an accessible API so ICX relay can also be leveraged by other developers
- Providing a simple payments platform for value transfer between ICONists and merchants or service provider
ICX Relay’s development will be broken into at least 2 development phases. This grant proposal is only covering Phase 1 objectives, however we feel it is important to relay the goal and objectives for the larger project.
Phase 1 Objectives
- ICX Relay Front-End Application to facilitate send transfers to a phone or email using ICONex. Other wallet integrations will be forthcoming.
- A recipient end-point for validating recipient phone or email and claiming transfers
- Information about ICON, crypto currency and tutorials/introductions on how to use ICX
- A simple “sender” dashboard showing all current and historic transfers and their current statuses
- ICON SCORE for to receive, manage, expire and send ICX and token transfers
- ICON Relay API (initially only accessible to the ICX relay team)
Phase 2 Objectives (Planned)
- Developer registration and simple developer portal with API key management for integrations of ICX relay
- Integration of Bridge to facilitate seamless conversions or withdraws in stable coin or fiat currencies
- Basic optional, user account registration for senders and receivers to expand functionalities
- Payment requests, allowing users, merchants or service providers to receive payment through the ICX relay application in ICX, or IRC2 Tokens or, if supported, stable coins or fiat through bridge.
- ICX Relay SCORE on Test Net
- ICX relay API Endpoints
- Testable integrations with Twilio and TEST SCORE
- Finalized application front end
- Launch of SCORE on Main net
Funding Amount Requested
Provision of resources on Azure for development and hosting: $500.00/month ($1500.00)
- Database setup and hosting (Azure SQL Server)
- Azure application fabric for API and front-end components
- SSL certificate(s) and domain registration
- Backup and automation storage
- Provision of secondary services for email, SMS for development and integration: $100.00/month ($300.00)
- Front end design, development and testing: 40 Hours at $35.00/hr ($1400.00)
- Backend engineering design, development and testing: 60 Hours at $50.00/hr ($3000.00)
- SCORE Contract development and testing: 20 Hours at $50.00/hr ($1000.00)
Note: Since funding is provisioned and assigned in ICX, we opted to calculate the estimated ICX against the USD estimates against the average closing price over the last 30 days in USD, which is $1.27 according to CoinMarketCap historical data. This would put the USD value of our ICX funding request at 7,620.00 USD, which provides a small (420.00 USD) buffer on our estimated costs.
Foundry Box Media (hxc5e0b88cb9092bbd8b004a517996139334752f62)