Sesameseed Submits Grant Proposal to ICON Community
Blockchains are interested in the Unifi Protocol
Sesameseed is proud to announce another potential major benefit to the Sesameseed community, made possible by its development of the Unifi Protocol. Sesameseed was contacted by the ICON blockchain about participating in the ICON community. ICON recognized the unique nature of the Unifi Protocol and is excited to welcome Sesameseed, SEED, and Unifi to the ICON community.
Sesameseed is applying for grant funding on behalf of Unifi. The funding will be requested to support the expansion of the Unifi Protocol to ICON, and to build the infrastructure required for that expansion.
The benefits to Sesameseed and SEED holders that arise as a result of a successful Unifi grant approval are substantial.
If this grant proposal is accepted by the ICON community, Sesameseed could possibly launch a SEED node on ICON within a few weeks. The stake requested in the proposal would result in great exposure and significantly less community stake would be required to establish Sesameseed as a major validator on ICON. The ICX votes from the community’s contribution will be rewarded with SEED, and begin to support SEED’s redeem value with the addition of ICX. ICX support will be added to Sprout, and ICON would become a part of the SEED rewards economy. At that point,Sprout users will have an additional option when swapping SEED between blockchains, which further strengthens the utility of the SEED Bridge.
Sesameseed will be submitting a grant proposal to the ICON community forum, ICON’s public and transparent grant program. This is ICON’s method of registering community sentiment on grant proposals. The Sesameseed community is encouraged to engage with the ICON community and present them the benefits of adding a community-focused validator like Sesameseed, which has proven itself to be a valuable asset to all blockchains on which it operates.
Additional Information On the ICON Blockchain
ICON was launched as an enterprise solution for blockchain adoption, with the firm belief their technology could also benefit non-enterprise teams that are building decentralized applications. The team is focused on blockchain adoption for real world applications. ICON has formed strategic partnerships with well-known organizations particularly in South Korea, from Samsung Electronics to Postech University and even the government of Jeju Islands. Ultimately, ICON is hoping to incorporate interoperability between private and public blockchains in order to bridge legacy and blockchain-native institutions.
The ICON Network operates on a Delegated Proof-of-Contribution (DPoC) consensus protocol, which is designed to attribute rewards to those who contribute the most to the network. A Public Representative (known as P-Rep) is a representative of the ICON Network that contributes to the ecosystem through participation in block validation and on-chain governance. ICONists can stake and vote for up to 100 P-Reps using the native token, ICX, and thus earn rewards for contributing. ICX is also used for transaction fees.
ICON published an article detailing their sustainable economic policy for staking rewards. Rewards to voters are paid by the network itself, and not by the P-Rep, so voters receive the same rewards regardless of where they stake. This system is designed to encourage voters to stake their ICX to P-Reps who contribute to the ecosystem, rather than focusing on the amount of rewards. More votes for a P-Rep means the P-Rep earns more validator rewards, which enables them to continue to build on the network.
Here are some resources for more information on ICON. Some of the content of this article was obtained from one or more of these sources:
Website: https://icon.foundation/?lang=en
Medium: https://medium.com/@helloiconworld
Telegram: t.me/hello_iconworld
Reddit: reddit.com/r/helloicon
Twitter: twitter.com/helloiconworld
