Today, we’re pleased to announce a new pilot program to further incentivize P-Reps and reward contributions to the network. As part of this program, the ICON Foundation will use a portion of its ICX treasury to delegate to teams we believe are contributing to the network in areas such as development, marketing, and community building. The benefits of this program are two-fold. The first is the potential to expand and speed up the growth of our ecosystem. And the second is an opportunity for new or current teams with strong skillsets, but limited promotional or self-marketing experience, to receive delegation from the Foundation. Details of the program are provided below.
Pilot program structure
The Foundation will delegate a maximum of 2 million votes to each team in the program. Teams who would like to be considered for this program will be required to apply here.
- The delegation term will be a minimum of 1 month.
- Applications will be due the 1st of every month, and delegations will occur ~1 week later pending an internal review of submissions.
- For May: applications will be due the 6th, and delegation will start as early as the 13th.
- Note: timing is subject to change based on the number of application submissions.
Each month, teams are encouraged to reapply for consideration, and delegation extensions will be considered for strong performers. During each application round, all submissions will be measured against the entire application pool and primarily based on contributions to the ecosystem thus far. Note, all of the voting rewards received by the ICON Foundation as part of this program will be used for the Contribution Proposal Fund (CPF) and ongoing grant programs to support the ecosystem.
Stay tuned for more information on the CPF.
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