April ICON Monthly Grant Update 2020
Atomic Wallet, Online Hackathon, Messari Registry, and ICON Vote Monitor
This is the second monthly grant recap report. In case you missed it, details from the first report can be found here. In the first release, we described the evaluation process in more detail, including the framework we use to make our decisions and the respective timing of each decision. Be sure to check it out!
This month, we’ll leave out those details and instead take a closer look at the grants approved by the Foundation thus far in April. Additionally, we’ll highlight updates to periodic reporting and the respective progress of our previously funded grants.
It was another busy month for grants. We’ve approved 4 thus far; 2 for infrastructure, 1 for education, and the other for new service integration. And we expect to approve more in the coming days. Note, we’ll be sure to provide more details on any we miss in next month’s update.
Approvals thus far:
- Infrastructure: Atomic Wallet
- Education: ICON Hyperconnect Hackathon
- Service: Messari Crypto
- Infrastructure: ICON Vote Monitor
Atomic Wallet is a non-custodial wallet that provides asset management for 20+ blockchains and all ERC20 and BEP2 tokens. As part of the approval process, Atomic Wallet will integrate ICON’s native token, ICX, into its web-based and IOS/Android mobile wallets. Additionally, Atomic Wallet will provide staking and voting capabilities for ICON governance.
Atomic Wallet must submit a Periodic Report by the timeframe below (UTC):
- 2020/06/16 02:00 AM (UTC)
The Foundation is providing a total of 3 BTC worth of ICX paid in 2 installments based on the Periodic Report. The amount of ICX will be determined and paid according to the price on the day of payment.
- 2020/04/30 02:00 AM (UTC) — ICX of 1.5 BTC value
- 2020/06/25 02:00 AM (UTC) — ICX of 1.5 BTC value
As part of the approval, ICON Hyperconnect will host an online ICON hackathon on the largest hackathon platform in the world, Devpost, which has access to an online base of 900K+ developers.
Additionally, as part of this approval, ICON Hyperconnect will accelerate the winners and most promising projects of the hackathon by providing consulting, mentoring, marketing, and networking while also preparing for the next hackathon.
ICON Hyperconnect must submit the Periodic Report by the time frames below (UTC):
- 2020/04/21 02:00 AM (UTC)
- 2020/05/21 02:00 AM (UTC)
- 2020/06/20 02:00 AM (UTC)
The Foundation is providing $32,000 in 3 monthly installments based on the Periodic Report. The amount of ICX will be determined and paid according to the price at 02:00 AM (UTC) on the day of payment.
- 2020/04/26 02:00 AM (UTC) — $10,666
- 2020/05/26 02:00 AM (UTC) — $10,666
- 2020/06/25 02:00 AM (UTC) — $10,667
Messari’s Registry aims to be a single source of truth for basic cryptoasset information. Participating projects voluntarily disclose basic information about their token design, supply details, technology audits, official communication channels, and relevant team members, investors, and advisors.
The Registry is the first open disclosures platform that allows projects to quickly and reliably communicate material updates to their communities and external stakeholders through a single, standardized interface. Messari validates project data and provides free access to disclosures via an open API that allows third-party services to rally around one universal cryptoasset disclosures library.
As part of the approval process, ICON Project will be listed on the disclosure registry. Additionally, ICON Foundation members will participate in several community activities with Messari including:
- An announcement press release shared on Messari’s newsfeed & Twitter
- Telegram AMA in the Messari dedicated group
- Senior Member of ICON Foundation podcast recording with Ryan Selkis to dig into the inner workings of the project
- Interactive analyst calls with the Messari Research team and Icon Foundation
- Expo booth at our inaugural virtual event, The Mainnet
The ICON Foundation is providing $10,000 to be paid in 2 installments based on the Periodic Report. The timing of payments is still being finalized.
As part of the approval, Everstake is committed to building and improving the ICON Vote Monitor tool that will help track voting and all ICON accounts activity on the ICON network by daily breaks or snapshots. Its functionality will encompass:
- Monitoring of all ICON accounts and a feature that targets P-Reps primarily;
- Basic historical information about P-Reps and ICON accounts;
- Visualization of voting patterns and changes in ranks among all P-Reps.
- Track voting activity regarding P-Reps — Voting Analytics Hourly / Daily / Weekly / Monthly (how many votes they received/lost, how many voters they have/lost)
- Check voters of any P-Rep, their balance, voting history.
- Provide charts and graphs showing a historical change of votes and change in top-22 and other P-reps over time.
- Provides the following information about accounts: Address, total balance, P-Reps voted for (with a hash), amount of votes, voting since, previous votes with duration, vote changes
- Provides the following information about a P-Rep: Total votes, last updated, balance, productivity/uptime, governance votes, voters (with the amount voted)
- Delegates timeline for any ICON account
Everstake must submit the Periodic Report by the timeframes below (UTC):
- 2020/05/21 02:00 AM (UTC)
The Foundation is providing $6,000 based on the Periodic Report. The amount of ICX will be determined and paid according to the price at 02:00 AM (UTC) on the day of payment.
- 2020/05/26 02:00 AM (UTC) — $6,000
The team has begun preparations for marketing, developer outreach, and the organization of the hackathon. Below is an update on the progress of this initiative.
- Project Completion Percentage: 25%
- Remaining Time to Completion: 3 months
- Expected Results for the Next Period: Completed hackathon website (www.iconhyperhack.com), completed promotional materials, updated ICON report, accelerated developer outreach, and marketing efforts.
During the reporting period, the team managed ICON Korean community and database including:
- Telegram (Korean official community)
- NAVER blog
Project Completion Percentage: 100%
Expected Results for the Next Period: Steadily increase the number of visitors to the ICONkr.com site. Easily explain the IISS 3.0 system. Estimated number of posts for the ICON project:
- ICONkr.com website = 50+
- Crypto-related website(Coinpan) = 15+
- ICON Naver Blog = 30+
In the past month, the FutureICX team completed most of the details concerning the overall app design, the basic functionalities, and the structure of the reward system. Below are some of the improvements made in the reporting period.
- UI/UX: The UX/UI team iterated on graphic charts and identities, interface, and user flows. A sample can be found below:
2. Storytelling: Introduced avatars for users.
3. Production: During this period the development team worked on 2 main tasks — we have started to integrate the platform and work on the centralized/static parts of the platform (frontend integration, backend, etc.), while at the same time we had to prepare the creation of the Smart Contract, map the planned processes, plan the SCORE structure, etc.
4. Prototype: Check out the overview here.
5. Reward structure: See below.
- Daily prediction — rewards distributed according to the player’s prediction accuracy for a specific day compared to the other players. Rewards 40% of the placed prediction amounts with a max multiplier of 4.5x for the most accurate players.
- Weekly prediction — an alternative to the Daily prediction option for the players that prefer to look at longer trading periods. Identical rewards with 40% rewarded with a 4.5x max multiplier
- Bullseye prediction — a weekly prediction type for the more confident/daring players. Offers a steep reward system with 15% of the prediction amounts rewarded but with a strong 7x max multiplier — weekly returns that traders can rarely get even in the most powerful bull runs
- Weekly reward pool — a reward pool, distributed weekly and rewarding the top performers throughout the week
- Monthly reward pool — a pool rewarding the top-performing players monthly
DappReview has integrated ICON into its platform. Additionally, joint marketing efforts have been completed.
- Data integration:
2. Separate page for each ICON DApp:
3. Marketing and Articles:
4. Industry reports and other media:
- Include ICON in our featured 2020 Q1 Dapp Market Report 1 (will have another two quarterly reports and one annual report in 2020)
- ICON is ranked at 4th place in the Dapp volume ranking
Next steps: The integration work for the grant application is complete. DappReview will continue to work with ICON Foundation and DApp developers closely in terms of DApp-related marketing/events to add value to the ICON ecosystem. For the future reports and research articles, ICON will be one of the main focus areas on our radar and covered in our data analysis.
ICX Comics completed milestone #2. Over the past month, the ICX Comics team created 3 new comics:
Project Completion Percentage: 60%
Remaining Time to Completion: 4 weeks
Expected Results for the Next Period: The ICX Comics team will develop several comics explaining issues like:
- Comic#7 — Why developers should choose ICON Network?
- Comic#8 — How to work with ICON Products
- Comic#9 — Roadmap and ICON plans
Hyperconnect the World