ICON Foundation Commits $200M Interoperability Incentive Fund
The ICON Project is proud to announce a 200M ICX (valued at approximately $200M as of today) Interoperability Incentive Program.
This is one of the largest incentive funds within the entire blockchain industry and the first ever dedicated entirely to interoperability. The launch of this fund is a critical step toward ensuring ICON’s Blockchain Transmission Protocol (BTP) is among the most widely used and adopted interoperability solutions.
ICON’s BTP, which has been under development for several years, is a unique, truly decentralized bridging technology that doesn’t compromise on security by custodying funds in contracts controlled by hand-picked operators.
The ICON Project is fully committed to becoming the network to build complex, cross-chain dApps with the best security and execution speed, scaling to connect every public and private blockchain ecosystem. As the number of layer-1 blockchains continues to increase, the industry is starting to see increased fragmentation of both communities and capital.
The Interoperability Incentive Program aims to distribute up to 200M ICX tokens over a period of five years which will be funded primarily by the ICX reserve allocation issued during the Token Generation Event in 2017. The program will incentivize not only the ICON community but also communities in ICON’s partner networks to fuel the adoption of ICON’s interoperability technology, BTP.
The goal of ICON incentive program is not to compete for external liquidity or fragment existing development communities, but rather envisioned the incentive program as a collaboration opportunity with multiple different ecosystems to connect with each other seamlessly, create cross-chain communication opportunities for its communities, solve complex problems that interoperability will inevitably introduce and build high-quality use cases that were previously unattainable.
ICON will continue to pursue additional BTP integrations, fund innovative BTP use cases and enhance the core BTP product offering as we strive to be the industry leader for interoperability technology and cross-chain applications.
ABOUT ICON Foundation
ICON Foundation is an interoperable layer one blockchain, connecting all blockchain networks using ICON’s BTP Technology.
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