Proposal: Moonbeam Grant

We are honored to have been chosen by the Moonbeam Foundation to receive a grant to build ICHI on the Moonbeam and Moonriver parachains. This will enable ICHI to build on the Polkadot and Kusama protocols and create a new community of stablecoins to enable DeFi to thrive within that ecosystem.

With this proposal we intend to get the ICHI community’s approval to receive this grant and to start building on these parachains.

Moonbeam Grant Proposal:

1. 5,000 RIVER tokens a. 0.05% of Genesis tokens on the Moonriver parachain built on Kusama
2. 5,000 GLMR tokens a. 0.05% of Genesis tokens on the Moonbeam parachain built on Polkadot b. GLMR tokens will be streamed to ICHI: 1/24th of the total tokens every month over 24 months based on achieving deployment milestones

Important Deployment Milestones for ICHI:

1. Running a deployment of ICHI on Moonbeam TestNet (Moonbeam Alpha) - focused on testing expected behaviors of contracts
2. Run deployment on Moonriver (Moonbeam on Polkadot test network Kusama), release of Moonriver parachain scheduled for end of Q1 2021, ICHI to build on Moonriver once it is stable.
3. Run deployment of ICHI on Moonbeam on Polkadot MainNet (connected to relay chain). Moonbeam live deployment scheduled for Q2 2021, ICHI will go through security audits and reviews before deployment onto Moonbeam.

FAQ:

1. What are Polkadot and Kusama? Led by the Web3 Foundation, Polkadot is a protocol built to enable interoperability across multiple Layer-1 blockchains. It was founded and built by Gavin Wood (creator of Solidity who wrote the original Ethereum Yellow paper). Kusama is its “cousin/canary” network that will be used as a staging environment before full production deployments of projects onto Polkadot, yet will enable its own live ecosystem. More info: https://polkadot.network/

2. What are Moonbeam and Moonriver? Moonbeam and Moonriver are each EVM-compatible parachains for the Polkadot and Kusama networks, respectively. Parachains can be thought of as independent Layer-1 blockchain protocols built on top of Polkadot and Kusama. Each with its own consensus and governance specifications that use the underlying infrastructure (Relay chain) to interoperate with one another. Both are being built by the PureStake team. More info: https://moonbeam.network/