REI | #REIcosystem Started! 150 Million $REI Growth Fund for Ecosystem Building
We have witnessed a lot of innovative on-chain protocols that have been born on many new public chains in the past period of time. Users could obtain incentives (Grants) when using these protocols, but they have to pay a high trading fee. REI Network could help solve these problems: users are able to complete on-chain transactions with almost zero fees through the innovative design of staking&replacement for on-chain resources. At the same time, REI Network hopes to introduce more high-quality on-chain ecosystem to coordinate the relationship between users, developers, and REI Network.
The total value of REIcosystem Grants?
REI Network is a fully decentralized governance public chain. The team will provide sufficient capital to the development team deployed on REI Network to promote the improvement of the REIcosystem (REI Network ecosystem) and the activity on the chain.
From now on, the REI Network team will assess the three core dimensions of the protocol for Grants distribution:
1. Total Value Lock (TVL)
2. Project innovation
3. On-chain activity
And other standards to classify the protocols, and open the application for REIcosystem Grants.
And make corresponding adjustments according to actual demands. We will invest 150 million REIs for ecological recruitment.
How to Apply?
Fill in your information in this form, including a publicly verifiable, preferably multi-sign wallet address to receive the bonus. Fill in the basic information of the project truthfully in the form. (Including official website, social platform account, TVL number, project innovation points, project contact, and other basic information) and submit your project on the REI Network official website. The link to the form is as follows: https://reinetwork0.typeform.com/ApplyforGrants?typeform-source=www.rei.network
What are the evaluation criteria for REIcosystem Grants?
The team will specifically evaluate the number of Grants for projects based on the influence, prospects, team experience, ecological relevance of the projects.
1. Reward
5000 USD-500,000 USD (paid by REI)
2. Specific Evaluation Reference Standard
The migration project can be evaluated from the following aspects, and the corresponding standards for specific projects are different, the requirements below are not the only assessment method.
1. For the DeFi project, priority is given to evaluation based on the TVL realized after migrating to REI Network. The details are as follows:
2. Secondly, it can be evaluated according to the weekly on-chain trading volume. The details are as follows:
3. Projects like Gamefi will be evaluated according to the number of on-chain users on REI Network
For REI Network native projects (projects originally developed on REI Network), they will be evaluated on the following aspects:
1. Whether there is a successful crypto project development experience;
2. Time after product launch (within 1 month, 3 months, 6 months, 1 year)
3. The effect after the product launch (refer to the evaluation standard of the migration project)
4. Stable operation status of the product (team stability)
5. The ability of Regurgitation-feeding to REIcosystem
The Details of Grants Distribution
- Distribution quantity of Grants: 5000–500000 USD,
Settlement: by $REI
2. Distribution principles of Grants:
1. Distribution in installments, a total of 6 periods (30 days/period), the distribution will be finished within 6 periods. During the distribution period, the project team needs to be stable without significant changes, and the product needs to operate stably, otherwise, REI Network will consider reducing or canceling Grants.
2. The principle of addition. If the product’s operation on the REI Network exceeds expectations during the Grants distribution cycle, the Grants distribution will be increased.
3. The principle of product priority. For products deployed on the REI Network chain for the first time, 50% of the Grants can be obtained when the product is launched, and all Grants can be obtained after 90 days of steady operation.
4. During the Grants distribution, if any issue is encountered, REI Network Foundation reserves the right of final interpretation of the Grants distribution.
Tips
REI Network Foundation will not interfere in the bonus after distribution, regardless of whether the projects use Grants for brand building or liquidity mining incentives to protocol users, it is all allowed. Hope that more high-quality ecological project developers could cooperate with REI Network.
If you are interested, please apply at
rei.network
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