ICONVIET P-Rep Proposal

Our Team

Founded in July 2019, ICONVIET was formed by a group of passionate ICONists and desperate bagholders around ICON Telegram channels, those who have been active in the crypto community since the inception of ICON Project and made it through the crypto-winter alive.

Our team is based in Vietnam, one of the largest global IT outsourcing hubs with a massive pool of talented software builders. Combine local competitive human capital advantage with our diverse technical backgrounds and years of experience in building software for traditional financial, banking, e-commerce and 3D industries; we think we have what it takes to be a P-Rep candidate in the upcoming September election. 

In order to accelerate the network and expand the ecosystem, we will contribute by focusing on what we do best: BUILD.

Our Motivation

We believe that ICON mass adoption can only be accomplished by building various high-quality products and user-friendly services around ICON Network, which connect to DApps and utilize ICX token under-the-hood without the users even knowing. Seamless and positive user experience is what we are trying to achieve.

We think Delegate Proof Of Contribution is working, and is working very well. To be brutally honest, our utmost motivation is to nurture the price by contributing the best of our ability to the ICON ecosystem and gradually drive organic, non-speculative, demand for the ICX token. As a result, value will rise and community will thrive.

Fund Allocation

According to ICON, representative reward varies based on i_rep factoring in the amount of votes received. Therefore, it is a little difficult to get accurate budget prior to hitting the ground running. Below is our ballpark estimated budget for costs, in order of importance until the reward is depleted:

  • Representative Reward
  1. Server cost (1 region)
  2. Maintenance cost (2 part-time sysadmin)
  3. Software development (2 part-time core developers)
  4. Marketing effort (1 part-time core community manager)
  5. Should we receive more votes hence more reward, part-timer will become full-timer and when we get moderately stable reward rate, we will re-evaluate our budget and hire more full-time contractors
  6. Remaining reward (if any) will be sent to staking fund to stake for ourself, instead of dumping on the open market for fiat

If we become one of the main P-Reps, the block production and verification reward will be used to rent a little nicer office space, provide infrastructure redundancy, and accelerate our development, marketing and community building efforts:

  • Block Production and Verification Reward
    • 28% for redundant infrastructure (2+ regions)
    • 46% for development (2 full-time core developers)
    • 6% for marketing (1 full-time core community manager)
    • 12% for 8-pax dedicated office space and extracurricular activities
    • 8% for motion graphics, events, seminars, training materials for developers
    • In this case, Representative Reward above will then be used for hiring contractors, organizing events, onboarding DApps builders and any remaining reward will be sent staking fund to stake for ourself, instead of dumping on the open market for fiat

Core people are all of team members and contractors (application developers, digital marketers, event organizers…) are those we will hire from the local pool of talents.

Software Development

  1. Build P-Rep Watcher functionality then explore DApp using DID
  2. Explore Stellar DEX and ICON DEX Interoperability ( through BTP ? )
  3. Build various DID-based dApps use-cases (debt shaming, perpetual debt record…)
  4. Build ICONLOOK web & mobile toolkit, which consists of various tools for P-Reps and ICONists (P-Rep Watcher, Transaction Analysis, Bad Actors Alerts…)
  5. Build Quorum Exchange with Stellar DEX and ICON DEX integration (possibly gearing toward STO issuance and trading). Currently, Quorum Exchange  is a mobile UI we have been building for Stellar DEX since March 2018.

For backend services and blockchain development, we use mostly .NET Core and Python. In addition, all of our mobile apps are developed using Xamarin Forms (XF), a cross-platform mobile app development framework by Microsoft. That is, when we release our mobile apps they can run natively on both iOS and Android. Fast and furiously beautiful.

Expected Timeline

P-REP Watcher (part of ICONLOOK toolkit)

  • Jul 2019 – Working proof of concept
  • Aug 2019 – Refined evaluation model and alpha test
  • Q3-Q4 2019 – Decentralized community contribution

QUORUM Exchange

  • Dec 2019 – Quorum Mobile App – Alpha (integration with Stellar DEX)
  • Q1-2 2020 – Quorum Mobile App – Alpha (integration with ICON DEX and STO ? )

Community Expansion

According to SimilarWeb, Vietnam ranks #4 in traffic to Binance and the number of monthly active users. The crypto community here is as huge as Korea. Having based in Vietnam, we have the geographical advantage to tap in, educate and spread ICON.

While our primary focus is development, we still understand the importance of building local ICON community. Even the most stubborn non-believers and emotional moonboys won’t go beyond our reach. 

Server Infrastructure

Having more than 15 years experience working with Microsoft products and services, we choose to stick with the cloud provider we are familiar with, Microsoft Azure, obviously. Our block verification (and production) fault-tolerant nodes will be running off Microsoft Azure to start with. We just need to find the right instance-size that closely matches ICON recommended server specification. Our nodes will be located in Southeast Asia region then Australia Central later (if we can sign a 3-years contract and get up to 30% discount for both regions). Enhanced proactive security and compliance are our top priority.

With the majority of nodes are expected to run off AWS, we think it is even better for decentralization if we run our nodes on Microsoft Azure, IBM Cloud or lesser-known and reliable cloud providers.

Oh, on a side note, we would fancy running our infrastructure on bare metal in an ultra-secure building, underground military bunker or on a mountain top…if ICX price went over 3-figure a pop.

Team Contacts

ICONVIET team always welcome ICONists to join our social channels and if you would like to contact us for content or idea contribution, please feel free to shoot us a message or an email. We appreciate your time end effort to grow up ICON’s community with us.

Email: [email protected]
Twitter: https://twitter.com/iconviet

Telegram: English group https://t.me/iconviet

Vietnamese group: https://t.me/iconvietnam


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