Overview
Community shapes the future of the Immutable X ecosystem.
As an IMX token holder, you will have the opportunity to share your voice and contribute to the future of the protocol growth through community development grants. These grants are given to proposals, submitted by community members, that focus on innovative and exciting ideas and/or solutions that will expand the Immutable X protocol’s offerings and success.
Proposals that win the community vote are able to earn a portion of this initiative’s allocation of 12,000 IMX tokens. Note that this is the first of many grants initiatives, so there will be many more opportunities moving forward.
How Does It Work
For the first iteration of the community development grant, this is how it’ll work at a high level:
- Step 1 — A theme will be chosen. Every round, we will choose a theme that proposals will need to follow. For now, this theme will be chosen by the Immutable core team. The first theme to kick-off this initiative will be “Developer Tools.” This theme refers to tools or solutions that can help amplify the experience of developers building on Immutable X, which we believe is the key to our success at this current stage (easier to build = larger ecosystem = more people). It’s highly encouraged that the proposals are for open-sourced initiatives.
- Step 2 — Proposals will be submitted. For a set amount of time, we will let community members submit their proposals via a form (see the end of this article). The form will include details, such as: how the project will benefit the community, how much funds you need, credentials to deliver the project, and how long it will take.
- Step 3 — Proposals will be shortlisted. A member of the Immutable X team will review the list of submissions based on the requirements (e.g. proposals must fit the theme), summarize and publish them for a temperature check in Immutable X Discord (a new set of channels will be created for this).
- Step 4 — Proposals will be ‘temperature checked’. Once the proposals have been shared in Discord, you can start upvoting them. Note that a proposal needs at least 75% upvotes to be considered for voting. This gives you oversight of where funds are going, and also allows everyone to be involved in the selection process.
- Step 5 — Proposals are voted on Snapshot and funded. For the final list of proposals, they will be put up for voting on a Snapshot page where your voting power will be based on your L1 IMX holdings. Winning proposals will be funded in installments based on agreed proposal milestones.
Examples of Qualified Proposals In Line With The Theme
Whilst not an exhaustive list, the following items would be considered Tier 1, needle-moving proposals that qualify for this particular grant:
- Analytics tools (explorers, dune analytics-like projects)
- Launchpad programs (to help developers with marketing and getting traction)
- Accounting and tax tools
- Rarity tools for the protocol
- Developer education, guides, or tutorials for building on Immutable X
- Bespoke tools that use our APIs/data to provide a service to the community
- Bots for the Immutable X community
- Tools for testing or security
- Pre-built frameworks for drops to cut the time for projects
Be creative! If you have a skill-set or idea you want to realize, make sure you fill out the form.
Examples of Invalid Proposals
Here are examples of proposals that won’t be qualified for the grant in the meantime:
- PFP projects
- One-off articles or bespoke content
- Tweets and social media activity
- Merchandise
How To Vote On a Proposal
The final voting for proposals will be conducted on Snapshot and you must hold IMX tokens to vote. In order to successfully vote on a proposal, you will need to:
- Step 1 — Go to the Immutable X Snapshot page: https://snapshot.org/#/immutablex.eth
- Step 2 — Connect your wallet. (Note that we’re only able to count IMX in Layer 1 for now)
- Step 3 — Click on the proposal
- Step 4 — Vote. That’s it!
How To Apply For The Community Development Grant (Alpha)
Please complete this form and when your proposal has been selected, it will be announced in Discord (the channel link will be confirmed later).
The deadline to submit your proposal: 5 December at 11.59 pm AEDT
FAQ
- How will we keep track of projects that are funded? A public tracker will be made where funded projects will need to post updates on their progress. This will help create transparency and accountability for community projects.
- Do I need to vote to be eligible for staking rewards? Staking has not yet been deployed but is on the roadmap. You will not be required to stake your tokens in order to vote for the Community Development Grant (Alpha) for the time being. We will make a formal announcement when the staking feature is live.
- Who can vote in proposals? As long as you are an IMX token holder on L1, you’ll be able to vote in the final voting process via Snapshot. For the temperature checks leading up to it, you can vote as long as you’re part of our Discord server.
- What happens when there aren’t enough proposals to use the community grants? If we run into a rare situation where there aren’t enough proposals and there are still tokens left in the pool, we will communicate this with the wider community to source more votes/proposals and extend the timeline of the campaign. If we reach a point where there are still not enough proposals, the unused tokens will be reabsorbed to the community token pool for future campaigns.
- What is the minimum period of each proposal for voting? Each proposal period will last up to 7 days.
- Can I vote with other tokens or cryptocurrencies? There are two ways to vote — the initial temperature check done in Discord and finally in Snapshot. For the preliminary temperature check via Discord, you don’t need any tokens. Every Discord member will be able to upvote and downvote project proposals. For the final round of voting via Snapshot, you will need IMX tokens to vote. Only IMX tokens will be considered.
- Why is Immutable X curating projects (e.g. in Step 3)?
We anticipate a lot of demand. On behalf of the community, we want to assist in filtering the process. We also want to make sure obviously misaligned proposals are removed e.g. someone asking for 5,000 IMX for merchandise - If my project is already live, am I allowed to submit it for grants?
You can submit a proposal to further improve your project.
Terms & Conditions
- In very rare occasions, we reserve the right to reduce the number of tokens provided to a project compared to the tokens actually requested. For example, if based on our estimates the proposed project actually needs far fewer resources.
- If the winning proposals are found to be participating in malicious activities, the grants will not be allocated.
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