2021 Transformation, Revision 12 and Contribution Proposal System
As 2020 comes to a close, we would like to wish everyone a joyous and happy new year! Despite the difficult circumstances of 2020, it was a great year of development and maturation for the ICON project and our growing ecosystem. We want to thank the community for its continued contributions and support.
As we look ahead, there are many things to be excited about in 2021. First and foremost is the expected migration to ICON 2.0 BATANG, a new Go-based blockchain that will support interoperability and inherits the current ICON Network. At launch, it will support cross-chain DeFi and offer scalability and stability improvements over the current version. In tandem with the ICON 2.0 migration, we also plan to submit a proposal to update the token economics of the ICON Network to reflect the additional relayer design of the blockchain transmission protocol (BTP) and hope to present those details in the coming months. …
A decentralized autonomous grant program owned and operated by the ICON Network itself
ICON and the iBriz-ICONOsphere P-Rep team are excited to release the first version of the Contribution Proposal System on testnet, with main net deployment scheduled for January 2021. This release brings us one step closer to realizing the vision of Delegated Proof of Contribution, where network resources are allocated to specific contributions to grow the ICON Ecosystem.
The initial design of IISS had three categories: Public Representatives, DApp Booster Program (DBP), and Ecosystem Expansion Projects (EEP), all of which were meant to receive their allocation of inflation rewards. When we first decentralized this all fell on the shoulders of P-Reps, as the DBP and EEPs were not yet live. However, after gaining some community feedback during the early design process, we decided to combine the DBP and EEPs into one more clearly defined system, the Contribution Proposal System, with a more budget-based, targeted, and project-specific reward distribution. …
We are excited to announce that the Ozys P-Rep team is integrating ICON into the Orbit Bridge, a Proof of Authority interoperability protocol based out of South Korea. The Orbit Bridge integration has already been completed on ICON’s test net, with main net integration coming within one month. The Ozys P-Rep team worked quickly and efficiently to integrate ICON into the Orbit Bridge and we look forward to continuing to work together toward the success of both projects.
This integration brings more value to the ICON Network, specifically the DeFi ecosystem. As blockchain technology continues to progress, there will be a number of different ways to bridge assets between different networks. For example, we expect to see Orbit Ethereum and BTP Ethereum on ICON 2.0. This brings more economic activity to the ICON Network as traders can take advantage of arbitrage opportunities and ICON DeFi projects can enable borrowing and lending of assets across different networks and across different bridges. …
Revision Update and Contribution Proposal System
We are almost ready to put 2020 behind us and look forward to the many exciting developments within the ICON ecosystem in the new year. However, we still have many more things to accomplish for the balance of 2020 including new features and upgrades to ICON v1 which are expected to release soon. See below for more details on what is in the pipeline and what we’re working on!
A new update to loopchain and ICON Service is coming soon. ICON Foundation is planning to release a new update to stabilize the ICON Network in mid-December on the Yeouido, Euljiro, and Pagoda testnets. We’ll test this update until the end of this year and release this on the Mainnet in early Jan 2021 after finishing the testing. …
Six New Grant Approvals and Migration to Contribution Proposal System
We are very pleased to approve another 6 grants in November capping off a successful ICON Community Grant program. The 6 grants consist of many exciting initiatives including community building/marketing, an NFT marketplace, and more applications of $ICX.
Last December, the ICON Foundation announced the ICON Community Grant Program and since then, we have proudly funded more than 45 projects that have directly benefited the ICON community. At that time we stated, “this program will operate until the CPS is fully developed and implemented on the ICON Network.” …
We are excited to announce further collaboration with Band Protocol to operate validator nodes on each other’s networks. With this deeper collaboration, we align ourselves with the long-term success of both networks.
“Band Protocol is proud to continue working closely with ICON, the major leader in the blockchain space with deep roots in South Korea. Expanding our strategic partnership to mutually operate nodes on each other’s network will ensure that both teams continue to collaborate on a deeper level long into the future to create synergistic value. ”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol
“We are excited to deepen our collaboration with Band Protocol. Their secure decentralized technology has been meaningful for our community developers and their team has proven their ability to execute in production environment for many DApps on ICON. We look forward to working together for the long…
We are pleased to announce the launch of the ICON Foundation Grant Program 2020.
The current ICON Community Grant Program will transition to the Contribution Proposal System (CPS), a decentralized on-chain grant program collectively managed by the Public Representatives (“P-Reps”) of the ICON network. Therefore, we will no longer accept new proposals for the ICON Community Grant Program beginning December 1, 2020.
On December 20, 2019, the ICON Foundation announced the ICON Community Grant Program. And since then, we have proudly funded more than 45 projects that directly benefited the ICON community. We stated, “this program will operate until the CPS is fully developed and implemented on the ICON Network.” …
Gangnam Testnet Release and Update on Contribution Proposal System
This month was highlighted by the release of the ICON 2.0 Testnet Gangnam and the JAVA SCORE environment. Additionally, we have made significant progress on the Contribution Proposal System (CPS) and are expecting the release to mainnet very soon. Please see below for the latest timeline and further information on these developments.
ICON 2.0 Testnet, Gangnam, has been successfully launched. Gangnam is the testnet that enables the Java SCORE and provides developers an opportunity to test ahead of the ICON 2.0 launch. …
Community Building, Project Nebula, and Cross-Chain DeFi
The Foundation approved another 3 grants in October consisting of community building/marketing, a (familiar) DApp, and a cross-chain DeFi protocol. We continue to be encouraged by the community’s commitment and participation in the grant process and hope to help many more entrepreneurs and dedicated ICONists in their efforts to grow our ecosystem.
Please see below for more details on the approved grants this month and keep the applications coming!
Icon Pilipinas focuses on accelerating blockchain growth in the Philippines by educating the masses and common everyday people about ICON — The major benefits and why it should be a premier blockchain project people here think about and use in the Philippines. …
We are excited to announce the launch of the Gangnam testnet and the guidelines below.
Gangnam testnet is powered by Goloop (ICON 2.0) and supports Java SCORE. Additionally, ICON 2.0 includes a Java virtual machine that enables Java SCORE, eliminating the need for audits by the Foundation. We are very excited to provide a new testing environment for SCORE developers looking to explore Java SCORE ahead of the ICON 2.0 launch.