ICON Launches Decentralized Autonomous Grant Program, Allocating 1 Million ICX To Innovative Blockchain Projects

ICON, one of the world’s largest decentralized networks, today announced the launch of its decentralized autonomous grant program to support innovative blockchain projects. Initially, ICON will fund the program with 250,000 ICX (over $400,000 USD), but by June 2021 up to 1 million ICX will be managed by P-Reps (Validators) and funded through ongoing block rewards. The ICON Contribution Proposal System delivers a streamlined, transparent approach to funding projects on the ICON network. It is fully open-source and designed to support both internal projects, such as community-building initiatives, infrastructure projects, and developer tools; as well as to provide bootstrapping to for-profit projects built on ICON.

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