ICON DAO Community Grant: A New Way to Fund Projects and Reward ICONists.
The ICON DAO development team is committed to developing innovative blockchain projects to expand the ICON ecosystem and provide ICONists with the tools to build stronger decentralized communities.
We believe ICON is a great platform for developers to build on if given the opportunity and have looked into ways we can facilitate even more contributions being made into the ecosystem.
What is our motivation?
In the present ecosystem dApp development, tool creation and community support plans are pushed first and foremost by P-Rep candidates. P-Reps are at the forefront of all discussions on ICON expansion and understandably so as they are especially incentivized to build upon the network through staking and block rewards. But if the goal is to drive mass adoption of ICON how will this be accomplished with only 100 P-Reps actively building?
The average ICONist is rewarded well for staking but ICON DAO believes that every ICONist has the potential to do so much more.
ICON’s Contribution Rewards: EEP Delegation Reward and DApp Booster Program.
The current reward scheme for ICONists, outlined in ICON Incentive Scoring System (Ver 2.0) describes 2 main concepts: EEP and DBP.
An Ecosystem Expansion Project (EEP) is any project or activity undertaken that contributes to the growth and expansion of ICON. This can be in the form of ICON Network development, 3rd party app development or community activities.
In addition, “DApp Booster Program(DBP) selects and rewards dApps that help to grow the ICON network.”
In both these cases, the top 100 are eligible to receive rewards based on the amount of ICX delegated to them. As a result of this, in both these cases a simpler but none-the-less worthwhile dApp, tool or activity would get overlooked if not enough ICX is delegated. To mitigate this situation, ICON DAO has proposed a new way to incentivize non-P-Reps to also take part in building the ICON economy.
ICON DAO Community Grant
ICON DAO Community Grant is a part of our On-Chain Community Support Plan to grant 10–20% of our P-Rep rewards to members of the community that have been recognized and nominated by the community for their active work in ICON Network growth and awareness.
How does this grant differ from EEP or other grants?
ICON DAO’s Community Grant does not look at popularity or ICX delegation amount like EEP, DBP or other grants. We understand that not all ICONists will have the resources, support or financial backing to fund their ideas, and not all projects will be large-scale but these ideas or small projects could be good, possibly even great, contributions to ICON. We want to give those ICONists who show potential and passion, the means to carry on building and supporting the ICON ecosystem. In addition, we want to reward our supporters whose contributions align with our, as well as, ICON Foundation’s vision for a hyperconnected blockchain community.
ICON DAO Community Grant Requirements
- Community Nominated
ICONists know best what they want to see in the ecosystem. To be considered for a grant, fellow community members must create a nomination thread on the ICON DAO forum for their chosen ICONist, outlining the project or activity that was undertaken.
2. Network Growth Contribution
The nominated ICONists must have contributed to the ICON ecosystem that month with a dApp, tool or proposal that had the potential to be or was a good contribution to the ecosystem.
OR
3. Network Awareness
ICONists must have promoted the network through personally-funded meetups, educational content, events or hackathons.
How are the grantees selected?
On our ICON DAO forum, users may create nomination threads outlining their nominee and the dApp, tool or promotion they have contributed to the community for that month. Other users may respond in thread to support or deny.
Every month ICON DAO will compile and review the candidates, selecting candidates based upon creativity, innovativeness, potential and community support.
Our goal
ICON DAO’s goal is to foster a community of active contributors, not just a community of P-Reps and their stakers. With our ICON DAO Community Grants we hope to incentivize ICONists to build, reward ICONists who take risks and encourage a community of active contributors building an ecosystem together.
ICON DAO is an ICON Network-based decentralized organization committed to providing the tools and services needed for users to easily develop and manage decentralized communities to collaborate and fund projects.
