What is CPS, why is it so radical?
Introduction:
This paper introduces the concept of contribution proposal system-CPS, the need for it, its evolution and growth, its importance with a special focus on ICONOsphere which can be considered as the main developer of this system in the ICON ecosystem. It looks at the team behind ICONOsphere and their experience and expertise which have substantially contributed to bringing about the CPS to this stage. It examines the role of main P-Reps and sponsor P-Reps in contribution proposal submission, different areas that a proposal can be developed in, steps needed, and criteria that need to be fulfilled while submitting a proposal. It looks at and summarizes ten recent proposals to give a taste of different areas and priority issues in the ICON community. It also examines in detail the proposal of Token Score Factory as developed by the ICONOsphere team and the reviewer’s comments on that proposal.
Founded in August 2017, the ICON Foundation oversees the ICON project’s core activities which include the promotion and development of the ICON protocol. ICON foundation describes Contribution Proposal System- CPS as a decentralized autonomous grant program owned and operated by the ICON Network itself. The CPS is fully open-sourced for the community to make amendments. Technical implementation of those amendments shall be funded by the CPS and reviewed by the community. The release of CPS brings ICON 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 ICON community grant program has evolved into CPS. ICONosphere has made significant contributions in developing the CPS system with its front end/back end and UI/UX system and it is a great pleasure to the ICONOsphere team that the ICON community has adopted this system and it is widely used.
ICON foundation defines the contribution proposal system CPS as a governance mechanism designed to ensure the security and integrity of the DApp Booster Program and Ecosystem Expansion Project initiatives. It incorporates the earlier programs known as the DApp Booster Program (DBP) and Ecosystem Expansion Projects (EEPs).
According to the ICON Foundation, the initial design of the Icon Incentive Scoring System- 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 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, the foundation 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.
The ICON foundation looks forward to seeing the ICON Project turn into a fully functioning DAO with many innovative projects being funded through the Contribution Proposal System.
The importance of the Contribution Proposal System is twofold.
For one, it allows for expedited growth of the ICON Network by giving entities the opportunity to receive funding from the network itself. Developers of decentralized applications or contributors to Ecosystem Expansion Projects can submit their work or plan to the Contribution Proposal System, ICONists will vote on whether or not this is a legitimate project, and if approved, this project will be eligible to receive the delegation from all ICONists and in turn, receive funding from the ICON network. This system will turn the ICON Republic itself into one of the first fully operational Decentralized Autonomous Organizations (DAO).
Secondly, and perhaps less obvious, the Contribution Proposal System plays a significant role in the distribution of wealth and power in the ICON Ecosystem. Many blockchain networks give rewards solely to those that produce & verify blocks, thus centralizing wealth & governance power and giving sole discretion of funding ecosystem growth initiatives to such entities. With the introduction of the Contribution Proposal System, all those that participate in this system will have the opportunity to accrue governance power and wealth within the network.
According to the ICON Foundation, the release of the Contribution Proposal System brings them 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 CPS is part of the ICON Republic DAO governance. The CPS supports worthy projects through grants from the Contribution Proposal Fund (CPF), which grows through the daily accumulation of block rewards.
