As blockchain enthusiasts like you, we are a group of individuals who deeply believe in the possibility of cryptocurrency revolutionizing our future. We also identify ICON as one of the best foundations in blockchain sphere that sure has a great aim. At the instant, we saw the possibility of being a middle-man between ICON organisation and the community we are proud to be in, we were thrilled to take the challenge.
We have been following the crypto space almost since the creation of the first cryptocurrency, Bitcoin. We have observed which properties make a project great and which properties cause them to fall. What we observe when we look at cryptocurrency space in general is the fact that projects that do not develop in a way to increase mainstream adoption are deemed to fail.
First thing that we have observed in failed projects is the lack of communication between followers and project developers. As a project is considered to be successful only when community fully embraces it, we want to be a bridge between two to ensure the success of the crypto space. As P-Rep, we will respond and act accordingly to the ideas of the community.
Secondly, we realize the adoption of a network can only be accomplished by providing various services with high quality. By having them, any individual can find something that they want to use. In blockchain perspective, these services correspond to dApps, which we value highly. Talented developers have been very impactful in shaping the network, ensuring the success of ICON. We will support any project that will contribute to the ICON network in any way we can.
Network that ICON is trying to build by using their token ICX can only be adopted by public if services provided by network have quality, be easy to use and various. This can only be accomplished with talented developers and creative minds. Like any operation, developers need funds for their hard work. Thus, we will allocate most of our funds towards developers. Feel free to come to us if you are a developer, you have an idea of service and you need help to deploy your idea. If your idea and talent is sufficient to increase the wide stream adaptation, we may find funds for you. Any logistic or communicational support, such as contacting with ICON or having testers can also be supplied.
Network that is designed to be used by individuals cannot sustain itself without people using it. Therefore strong community is a must to ensure strength and value of the network. We want to meet with people like us that are excited with the opportunities that ICON can deliver and be a constructive community. To do so, our Telegram group is open to everyone. Feel free to engage in discussions with us or any other ICX enthusiast like you. Your ideas are quite valuable to us. If we are selected to be P-Rep with your support, we will carry every operation by considering our voters. For any of our operations, we will ask for our voters to vote on their opinions about that operation and decision regarding that operation will be taken by considering these votes. For decisions on ICON network that only P-Reps will vote, we will give our voting right to you. If one option have majority by our community, we will vote for that option.
As we highlight the importance of community, we should also mention that we plan to have many events that will connect ICON and crypto lovers like us. Our group is spread across two countries (United Kingdom and Turkey) for the time being. Although group is located around these two countries, we plan to have events wherever needed. We plan to have different types of events at our current state. First type of event is community meet-ups, in which we will engage with ICX lovers and crypto lovers like you. In these events, we will take feedback for our operations and for ICON Foundation to ensure your demands becoming reality. We also know that ICX is not very known across Europe. By attending blockchain events across Europe and advertising, we will try to increase the adoption and recognition of ICX. Our purpose in these events are to engage with the backbone of the network and maintain stability of it, community. We are very excited to meet with every single one of you and hope to see you in our community.
Blockchain gives users transparency of transactions. Anyone can see the transactions of a wallet with an explorer of that public chain. As representatives, we realize the importance of funds that we will earn, thus we have the following budget allocation:
Regional Operations 20%
Server Costs 27%
Development Funds 53%
All funds received from blocks will be distributed to three main wallets and these addresses will be public. One wallet will be dedicated to regional operations, other for server costs and last for development funds. Any transaction to and from these wallets will be shared across our social media, with the reasons for these transactions. Thus, reliability of our representativeness can be seen from our transactions and wallets at any time.
According to the ISS Icon Yellow Paper, monthly earnings of p-reps will be an average of 22 selected p-reps requests. As we realize that demanding higher payout would cause inflation and reduce the value of ICX, we want to have as little as possible. Taking 1 ICX to be 0.25$, we expect 60000 ICX (15 000USD estimated budget from Yellow Paper) to be enough to cover our expenses in a reliable and manageable way.
27% to Server Cost
Our servers will run by renting processing power from Amazon Web Services. Currently, one main (C5.9xlarge located in London) and one backup server (C5.4xlarge Located in London) costs 3948$, which can be checked from here. By considering possible changes in the server costs and to be fault-tolerant always, we dedicate 4000$ monthly to cover our server costs. After 2 to 3 months, we will sign an annual contract for our main server and backup server with Amazon Web Service, which should reduce our server costs by 40% to 50% annually. After this contract, 4000$ monthly budget will be reduced to 500$, with extra 3500$ shifted to development funds.
Main Server C5.9xlarge
- CPU Model: Intel® Xeon® Platinum 8124 CPU @ 3.00GHZ- vCPU(core): 36- RAM: 72G- Disk: 500G NVMe SSD (EBS bandwidth 4.5 Gbps)- Network: 10 Gbps
Backup server C5.4xlarge
- CPU Model: Intel® Xeon® Platinum 8124 CPU @ 3.00GHZ- vCPU(core): 16- RAM: 32G- Disk: 500G NVMe SSD (EBS bandwidth 4.5 Gbps)- Network: 10 Gbps
20% to Regional Operations
As members of the team are currently spread across 3 different countries, each member will take its share from this allocation in order to attend to regional blockchain events. Any funds that arise from agreements within local organisations (exchanges, companies working on blockchain) will also be supplied from this part of the allocation.
Possible extra expenses
Crypto is not well acknowledged by various countries. In case of encountering any legal issues, we will move our operations to a rather more crypto friendly country such as Malta. In case of such an incident, extra expenses might arise, which will be covered from our development funds.
%53 Development Funds
Cost of everything from developments of dapps in our roadmap, helping projects finding exchanges/funding, cooperating with other preps in case they need budget for something bigger. For ourselves we have a bounty type of system which we get allocation after we did something. That’s also applies for community members connecting us with important projects, opportunities.
July 2019 P-Rep aplication and proposal announcement
July 2019 Website and Social Media platoforms creation
September 2019 Onchain election and decision on voting dapp.
December 2019 Cost reduction of our servers with long contracts.
Q1 2020 Release of our exchange and voting dapp.
Q2 2020 Release of our last dapp on plan
Dapps on plan
Exchange:We will release a 0 fee on chain exchange to create liquidity for icon tokens. Since it’s 0 fee, we will drive enough traffic, bring volume in long term and help every icon project for liquidity especially small ones with having issue to find exchanges. We will cover operation cost from our budget. With high traffic, our plan is running exchange on its advertisement earnings.
Voting dapp: As we are originating from the community, we want the community to decide on how some of our operations will be carried. To do so, we will create a voting dapp in which you will be able to vote on options that suits best for you. As long as the majority agrees upon an option, we will go forward with it. There are so many ways to create it but in every way we give more power to some specific group like whales, network spammers etc. So we want our community to decide on that while we keep our hopes our community bring us perfect solution.
Dapp: We will release community owned dapp which will drive money and traffic. While management and other stuff will be decided by our community. We hope dapp will be a success and we can support prep budget with more from our stake.
Our main vision is to connect community with the network, and with this vision we believe we will contribute to the strength of the network drastically. Community will make ICX network one of the blockchain networks that has highest variety of operations with highest quality. Connect to us from
Telegram by: https://t.me/pICONbello
GitHub by: https://github.com/piconbello/pb
Website by: https://piconbello.com
Excited to meet every one of you,
Expected Network Information