Hello ICON World
Published in

Hello ICON World

ICON Foundation Grant Program 2020

The new ICON Foundation Grant Program will complement Contribution Proposal System(CPS) to continue funding projects that benefit the ICON Community

Purpose

The purpose of the ICON Foundation Grant Program is to complement, not compete, with the upcoming CPS and continue funding projects that benefit the ICON Community. We believe that the ICON Foundation Grant Program alongside the CPS will help accelerate the growth of the ICON ecosystem.

Eligibility

Under the new grant program, the following proposals are considered eligible:

  1. Rejected CPS Proposals for Infrastructure & Core Development. We strongly believe that more good infrastructure and core development projects will help better position the ICON network for long-term growth. To avoid duplicate grant approval, we would only consider projects that were rejected by the CPS process.
  2. Rejected CPS Proposals with a Business Model. We want to see more existing and new businesses utilize the ICON network. The ICON Foundation would like to help boost some of these initiatives. Again, to avoid duplicate grant approval, we would only consider projects that were rejected by the CPS process.

Submission and Approval Process

All ICONists can continue to submit their proposals at the ICON Community Forum (https://forum.icon.community) under Grants category. The ICON Foundation will review the proposal and reply directly to the applicants. The ICON Foundation will provide the Initial Review Result Comments on the proposal.

  1. “Approval pending on revised conditions”: If the party agrees to the revised condition, grants will be funded

Payment Method and Reporting Requirements

For approved projects, the ICON Foundation will provide:

  1. Delegation of 1 million ICX per project for a predetermined period

Proposal Format

  1. Title
  2. Applicant Name (business and/or individuals will be KYC-ed)
  3. Contact Information (e.g. email, telegram id, social media)
  4. Project Category
    * Request-For-Proposal (RFP)
    * Infrastructure & Core Development (provide link to CPS application)
    * Business Model (provide link to CPS application)
  5. Project Description
  6. Project Duration (maximum 6 months)
  7. Project Milestones
  8. Funding Amount Requested in USD (Payment will be in ICX)
  9. Public Address (To receive the grant)
  10. Other (Please include any relevant information)

Periodic Progress Report

The details of the Periodic Progress Report should be concise and include:

  1. Submission date of the Report
  2. Details regarding milestones/accomplishments during the period
  3. Materials proving progress on the initiative
  4. Expected results for the next period

Proposal Evaluation Framework

  1. Proposal Overview
    * Does this benefit the ICON Network and its community?
    * Does the proposal provide enough information?
    * Are there any risks for the ICON community from this proposal?
    * Is there overlap between this proposal and other initiatives?
  2. Feasibility
    * Is the roadmap reasonable?
    * Do the team members have a relevant background?
  3. Public Good and Transparency
    * Does the project fairly justify its budget?
    * Are the deliverables and milestones verifiable and tangible?

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
ICON Foundation

Founded in 2017, the ICON Foundation is an interoperable layer one blockchain, connecting all blockchain networks using ICON’s BTP Technology.