MyIconTJ proposal


#1

MyIconTJ Grant

We are seeking funds to develop MyIconTJ (My Icon Tipping Jar). MyIconTJ is a twitter bot that monitors the twitter API and when referenced will turn a tweet into an ICX transfer via a smart contract (SCORE).

In the above example @ReliantNode has just transferred 10 ICX from their tipping jar to the Parrot9 tipping jar.

Where are tipping jars stored?

Tipping jars are stored on the Icon blockchain in a smart contract (SCORE).

Why build this?

Expanding the Icon ecosystem

Building MyIconTJ provides the ability for anyone with ICX in their tipping jar to send a tip to anyone of the 145 million active twitter users*. This can be used by P-Reps and all Iconists to engage a wider community outside of the current Icon community.

Increase Icon transactions

Each tip sent via MyIconTJ on twitter will turn into a transaction on the Icon blockchain. Around 6K tweets are sent a second*. With MyIconTJ every tweet has the potential to be turned into a transaction on the Icon blockchain.

*https://blog.hootsuite.com/twitter-statistics/

**https://www.internetlivestats.com/twitter-statistics/

What happens if I send a tip via MyIconTJ to a user that doesn’t have an account with MyIconTJ?

That’s the beauty of MyIconTJ. There are no accounts outside of twitter and the smart contract.

e.g. If tips are sent to an account such as @APompliano who has never heard of MyIconTJ before. The smart contract will allocate the tip to @APompliano. @APompliano can now forward that tip to another user on twitter (exchanging ICX without ever owning an Icon wallet) or withdrawal the ICX from the smart contract.

How can we expand MyIconTJ in the future?

Other platforms

MyIconTJ could be expanded to other platforms such as telegram, discord, reddit, facebook. This hasn’t been investigated and is outside the scope of this grant.

Stablecoin implementation

The current ability to send ICX tokens has utility within the cryptocurrency market, but once we have a stable coin on Icon MyIconTJ can easily be expanded to sending tips in pegged fiat. This gives Icon the opportunity to become an underly network tipping system. Users of such a system are not aware it runs on the Icon blockchain.

What’s involved in building this? (Architecture)

There are 3 components to build MyIconTJ:

  1. Twitter bot

The twitter bot monitors tweets. The bot will update the smart contract on the Icon blockchain once it detects a tip should be moved from 1 tipping jar to another.

  1. Smart contract (SCORE)

The smart contract is used:

  • By a user to deposit ICX into their tipping jar
  • By a user to withdrawal ICX from their tipping jar
  • By the twitter bot to transfer tips between jars
  1. Website

A website will be hosted at myicontj.com for users to deposit ICX (via ICONex) and withdrawal ICX as well as monitor their sent and received tips.

Costing

We are requesting a $7500 to build MyIconTJ.

ICX will not be liquidated to fiat. ICX from this grant will be restaked back to the Icon network.

The estimated timeline is 1 month from funding to public launch.

This grant does not affect the timeline of our mobile wallet grant. This work requires a different skillset and will be carried out by different engineers.

Questions?

This is an informal application, if more information is required or you have any questions let MJ know on telegram or email team@reliantnode.com


#2

This is an awesome proposal! A twitter bot is great for spreading ICX to new people.


#3

Thanks for your efforts. ICON Foundation will come up with grant program soon!


#4

Many other coins have the tip jar already. Maybe you can integrate BTP(Blockchain Transmission Protocol) into it.

This would let us rise above the others and would be a nice project to show of its use case.

I’m pretty sure you would find support for that.


#5

We are wondering if there would be an extra cost to add this suggestion? We really like this idea and would be happy to contribute to the building but we agree that it would be great if BTP could be included somehow. @mj-reliantnode


#6

Hello, Reliantnode!

This proposal is applied to the ICON Community Grant program. ICON Foundation is going to review this proposal and leave the Review Result Comments on this post. Thanks.