ICON’s Community Proposal System (CPS) has gotten a makeover.
The decentralized grant program to support developers and teams building on the ICON blockchain is better than ever.
In particular, projects can now receive funding in bnUSD, the ICON network’s native stablecoin. This is a huge development as it provides teams with stable funding, free from the volatility of cryptocurrency markets.
Some other improvements were made as well, including:
- Email notifications to CPS p-reps for period changes, sponsorship requests, acceptance or rejection of proposals by sponsors, and other reminders.
- The maximum length of a CPS proposal has been increased from six months to 12 months.
- P-reps who miss votes pay dynamic penalty fees based on the size of delegation, not fixed amounts.
- Due to the new dynamic penalty fee structure, the list of P-Reps who owe penalty fees has been reset, while those who have already paid will receive refunds.
- P-Rep will be able to change their vote on a given proposal once per voting period.
Additionally, the CPS program got a spiffy new landing page.
CPS welcomes all proposals that benefit ICON or ICE, including infrastructure, DApps, marketing and hackathons.
Recent proposals include Protokol7’s DeFi 2.0 project Karma Dao, which aims to “help enable protocols to establish their own protocol owned liquidity while still providing benefits for the network participants,” and the NFT-based game Wonderland, where players “explore a vast Wonderland metaverse where Alice tries to steal $MUSHROOM from an army of card soldiers who work hard to gather them daily.”