The Simple Token Network Accelerator Program — grants for startups and promising projects.
This post introduces the Simple Token Network Accelerator program which provides grants to promising projects and developers.
Simple Token enables any company to create, launch, and manage their own branded digital token economy. You focus on your customers, core technology, and economy — we’ll take care of the blockchain infrastructure. The OpenST protocol enables you to stake Simple Tokens against your own Branded Tokens, minted on open scaleable side blockchains, coupled with the Simple Token software which gives you the tools to manage your token economy.
One of our goals is to promote and foster an ecosystem of companies and developers building on Simple Token. We want to spur thousands of Member Companies launching Branded Tokens supported by a highly engaged and motivated ecosystem of developers.
Introducing The Simple Token Network Accelerator Program [“ST Accelerator”]
27.2% of the total Simple Token [ST] supply is being reserved for the ST Accelerator. This was purposefully planned out to provide for a $18M seed program to support promising projects developed on ST.
ST Accelerator grants are intended to support app developers and companies whose contributions benefit the entire OpenST ecosystem. Some examples of the types of ST Accelerator grants we envision could include:
- To some of the first Member Companies who wish to launch their own Branded Tokens powered by Simple Tokens. This could help them fund their development and implementations, incentivize and reward their developers, and provide some warm-up tokens to their users to spur the initial adoption.
- To developers working to build on and expand the capabilities of the OpenST protocol.
- To developers creating software modules to help companies manage their token economies, such as KYC-as-a-service, analytics, monitoring, notifications, and economy visualizations.
- To designers offering proposals for wallet skins, token branding, and other user experience enhancements.
ST Accelerator grants can be provided to companies of all sizes, even startups with just an idea. Grants can be provided to the company, project teams, or directly to individuals in support of their contributions.
The OpenST Foundation will approve ST Accelerator grants on a regular basis. Criteria for issuing grants will be published openly and transparently by the Foundation, as well as the ledger of grant recipients (unless there is some agreed upon confidentiality with the specific project). All ST Accelerator grants will contain long term vesting schedules and conditions appropriate to the specific project.
We also plan to post developer bounties that will be provided through the program, and Member Companies could also propose developer bounties through the same platform in the future.
We currently have a rather sizable pipeline of ST Accelerator proposals under review from potential Member Companies.
One of the few positives about the recent ICO craze is that nearly every company in the world has considered tokenization in some shape or form, albeit mostly for the wrong reason: fundraising.
After the initial excitement, most projects realize they have no business doing an ICO because they haven’t figured out an actual utility for their token.
Some really good companies and projects though make it to the step of conceptualizing potential uses and economic models for their token, but get stuck, especially when it comes to considering what tech stack they could tokenize with, how to actually build and launch it, and how they are going to manage their token economy once it’s launched. These projects are a great fit for Simple Token grants and we’d love to support them.
The purpose of the 14 November, 2017 Simple Token sale event is to
(1) generate ST required for the OpenST protocol to mint Branded Tokens, and
(2) to create an endowment for the community ecosystem, as provided for in the ST Accelerator Program.
If you are interested in an ST Accelerator grant for your project, please contact us at firstname.lastname@example.org.