Liquid ICP - Grant Application

Project Description: LICP token is the governance token of Liquid ICP DAO(Decentralized Autonomous Organization). Liquid ICP is primarily here to provide the service of s-Bridge between ICP(Internet Computer Protocol) and Polygon/Matic chains, and also to provide the staking platform for ICP coins on Polygon network with only 1 week lock time, and a farming option for LICP governance token. The service of ICP staking on Polygon network is feasible since there is a lock period from at least 6 months to 8 years on Dfinity network. Assets acquired by LICP sales are used to provide the funds for s-Bridge’s fractional reserve liquidity. Also part of LICP sales are staked in NNS(Network Nervous System) of ICP to earn rewards for LICP buybacks and to provide the liquidity for LICP pools on Polygon. Users who hold LICP tokens are able to get rewards from farms provided in our DEX(dapp.icp-20.com/farm). The s-Bridge will allow users to swap wrapped ICP(from Dfinity network) with ICP-20(wrapped ICP on Polygon network). After bridging users can stake their ICP-20 tokens and receive liquid version of their assets, st-ICP(staked ICP) tokens. Unlike staked ICP, the staked ICP-20 token a.k.a st-ICP is free from the limitations associated with a lack of liquidity and can be transferred at any time. The st-ICP token balance corresponds to the amount of bridged ICP coins plus NNS rewards. Currently LICP token can be traded and farmed on Polygon network via dapp.icp-20.com/swap or app.sushi.com/swap. After the launch of the s-Bridge Liquid ICP will provide insurance, lending and borrowing services for ICP-20(wrapped ICP on Polygon).

Project Website: https://www.icp-20.com/

Funding Objective: We wanted to offer a partnership by making available/starting a trend of pairing imUSD with other assets instead of stable coins. We will encourage users to pair our governance token with imUSD and create and incentivising pool. From your part we want an announcement of partnership and infographics why imUSD pairs are better for pairing with other assets instead of stable coins.

Funding Schedule: $50K USD immediately

Recipient's Address: 0x143f8cFB7e91b7836D90A06Fe0e2cF8728D61FB0