May ICON Monthly Grant Recap 2020

Simplex Integration and Liquid ICX

Greetings ICONists,

We’re happy to share the latest progress with ICON’s community grant program. As we’ve done in prior months, in this report, we’ll take a closer look at the grants approved by the Foundation thus far in May. Additionally, we’ll highlight updates to periodic reporting and the respective progress of our previously funded grants. Enjoy!

May 2020

It was another busy month for grant applications and we’ve approved 2 grants thus far; 1 for infrastructure and 1 DApp. If we approve any more in the coming days, we’ll be sure to provide more details on any we miss in next month’s update. But for now, please see the details below.

Approvals thus far:

Simplex Integration

Simplex provides fiat-onramps to the leading exchanges, wallets and other service providers throughout the industry. With this integration, crypto enthusiasts will be able to purchase ICX directly with their cards at a number of Simplex partner sites.

As part of this integration, ICX will be added to the list of crypto assets offered with this service (i.e. fiat on-ramp). We would be added to the following assets currently available:

  • ATOM, BCH, BNB, BTC, BUSD, CEL, DAI, DASH, EOS, ETH, LTC, LUNA, NANO, PAX, SDT, SGA, TRX, USDT, XAUT, XLM, XRP

As part of the approval, Simplex will integrate ICX within ~1 month of signing our agreement.

  • The Foundation is providing $50,000 in the form of a deposit for integration and compliance costs.
  • The Foundation can earn back this deposit based on the fees generated by the Simplex service over 6 months.
  • If Simplex generates $50,000 over the same period, ICON will receive the full deposit back.
  • Note, this is a one-time deposit (fee structure).

Liquid ICX (LICX) — Token for DeFi

LICX is the basis for DeFi solutions. It is an IRC2 token that represents staked ICX making it possible to be transferred without compromising the security of the network. This provides an alternative option to exchanges for ICONists to receive rewards while keeping liquidity of their ICX.

This will reduce the amount of control that exchanges can get over the network by providing extra liquidity to the network as well as allow the ICONists to be in possession of their private keys, ICX in the pool will be controlled by a smart contract so there is no central authority involved.

LICX will also increase the number of transactions on the network as it will allow stakeholders to do other transactions than claiming and re-staking.

Project milestones

The LICX team want to implement 3 major milestones for this project:

  • Milestone #1 — α-Version
    Alpha testing. Functionalities: Minting/burning LICX via a simple web application.
  • Milestone #2 — β-Version
    Beta testing. Functionalities: Staking and voting implemented. Improve web application UI.
  • Milestone #3 — MVP
    Deployment of MVP on the main net. Web application functions finished.
    We will have 6 sprints each lasting 2 weeks after every sprint we will provide a progress report. We dedicated 2 sprints or 1 month for each version of the project. Estimated release date is at the end of Q2 2020

As part of the approval, the Liquid ICX team must submit Periodic Reports by the timeframes below (UTC):

  • 2020/05/28 02:00 AM (UTC)
  • 2020/06/24 02:00 AM (UTC)

Funding Amount

The ICON Foundation will provide $23,400 in 2 monthly installments based on the Periodic Reports. The amount of ICX will be determined and paid according to the price at 02:00 AM (UTC) on the day of payment.

  • 2020/05/29 02:00 AM (UTC) — $11,700
  • 2020/06/25 02:00 AM (UTC) — $11,700

Periodic Updates

Dapp.com integration

All the work in the first stage is finished but Dapp.com will take it further from here. They will continue to provide stats, exposure and keep track of all the progress within ICON ecosystem.

Moving on they will also be adding any tools, use cases of ICON that touch the blockchain component (not just dapps) to dapp.com. And strongly believe that this will continue to generate awareness to the ICON ecosystem. As the first dapp platform partnered with ICON, Dapp.com is 100% committed to grow with the ICON ecosystem.

See below:

  1. ICON Column on Homepage and Ranking Page with dapp stats (eg. 24hr users, 7day users, transactions, Dapp.com score etc).

2. Dapp Page for each of the ICON dapp submitted with profile, stats display, user review function.

3. ICON Column on Dapp Market Overview Page to provide comparisons with other leading blockchains by different data filters.

4. Dapp Data Telegram Bot to report real-time ICON dapp stats in any group chat.

Promotion of ICON blockchain:

Stats of the launch campaign:

  • Impressions on social media: 135,000+
  • 10,000+ visit on the campaign page
  • Promotion of ICON and ICON dapps on Dapp.com 1 and its channels;
    Finished in all dapp.com’s social, website, and community and guest posts.
  • 4 Free Dapp promotion packages for ICON dapps upon requests from ICON.
  • Finished. Promoted ICONbet and Zensports from 16th April to 11th May.

FutureICX Report #2

1. UI/UX

In the past month, FutureICX has started making the transition from a conceptualized product to a real-world one.

2. Storytelling

Created new “EYEcons” so the options for different player avatars has increased even more. They have also been assigned to provide further info on some of the app’s sections and the general tutorial of FutureICX.

3. Score development

The development of the FutureICX SCORE has already started! During this month, the FutureICX team has set the app’s foundations — the contracts and their interactions. As FutureICX has a pretty complex reward system, each separate functionality takes rigorous testing so that it’s done properly.

4. WebApp development

By moving from the conceptual prototype to the WebApp platform, the important thing was to tie up correctly the visual concept, the UI, and the completed functions of the Score.

5. Early Alpha demo

The team will provide a link with the demo login details in the forum and with it welcome anyone that would like to try an early version of our app out.

6. Future plans

In the last month of development (FutureICX is planned for release at the end of June 2020), the team is planning to completely finalize the development of the app, to implement the remaining score and WebApp functionalities, to set up the mobile UI, conclude the tests done on Testnet and move on to Mainnet by setting up a decentralized oracle solution in order to ensure fair and accurate results.

Korean Community Management Update #3

During the reporting period, the team managed the ICON Korean community and database including:

  • Main communication channel
  • ICONkr.com
  • Twitter
  • Kakaotalk
  • Telegram (Korean official community)
  • Coinpan
  • NAVER blog

Project Completion Percentage: 100%

Expected Results for the Next Period: Increase viewership to ICONkr.com (currently about 5,000 visits per month) and make it easy to find information related to ICON (ICX). Prepare a summary and easy-to-understand materials on ICON. And focus on ICONLOOP’s myID and the recent accredited certificates legislation as there are many questions related to this.

ICX Comics Report #3

ICX Comics is happy to announce that they have successfully completed Milestone #3!

As promised 1 month ago, the team created 3 new comics:

Comic #7

Comic #8

Comic #9

Project Completion Percentage: 100%

Below is a list of all comics:

Our website

Comic #1

Comic #2

Comic #3

Comic #4

Comic #5

Comic #6

Comic #7

Comic #8

Comic #9

ICON Hyperhack Report #2

The hackathon will launch on June 19th and last until August 19th. Therefore, the team has a full month ahead for active outreach efforts and initiatives to introduce ICON and the ICON Hyperhack hackathon and direct interested parties to the newly launched ICON Hyperhack website in which they can pre-register for the hackathon and receive updates.

The site will provide additional info on ICON, the hackathon, and ICON’s developer resources.

  • Project Completion Percentage : 50%
  • Remaining Time to Completion : 2 months
  • Expected Results for the Next Period : Onboarding of additional judges, continued developer outreach and marketing efforts this will continue until the end of the hackathon duration (August 19th).

Review of each KPI (Key Performance Indicator) or specific goal/milestone

Thank you,

Hyperconnect the World

ICON Foundation

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