The Basics
Allocate 5,000,000 HXRO to be granted as esHXRO to launch a Hxro Network Grant Program.
Abstract
After extensive testing by contributing developers, both Hxro derivatives and v2 of the Hxro Parimutuel Protocol went live on Solana mainnet the last quarter of 2022. Now that a strong technical foundation is established, the network has turned its focus to scaling. A key component of Hxro’s growth will be driven by the virality of its developer community and, subsequently, the end-users of Hxro-powered applications. Increasing community contributions to the network from a wide array of participants is a critical step towards further decentralizing, growing, and securing the network.
We believe a key component of stimulating and properly incentivizing ecosystem participation is to implement a network grants program. Widespread engagement is imperitive for improving core protocols, building new and innovative Hxro-powered applications, and attracting new participants to the network. Therefore, the proposed Hxro Grant Program will compensate community members for their efforts in improving core protocols, developing new interfaces, creating developer resources, and enhancing the overall security and quality of the network.
Reason
As a distributed liquidity layer for derivatives trading and bettingapplications, the success of Hxro Network is contingent on the health and growth of its developer community. This includes the development of a variety of user-facing applications powered by core Hxro protocols, ongoing end-user activity on said applications, as well as the feedback and testing provided by community members.
Knowing the important role that the Hxro builder community plays, core contributors want to activate and further incentivize a broad audience of developers to engage with, improve upon, and compose with both Hxro protocolsl. Financial incentives for early participation in DeFi protocols is a common practice that increases the urgency and desire with which new and existing community members contribute to the ecosystem.
Most importantly, all aforementioned activities feed into the underlying mechanics of network growth and value accrual. In aggregate, these community efforts will result in a number of new tokenholders, increased network volume, innovative applications (open-source “common goods”), and, subsequently, introducing more participants to the network. Again, this is a critical component of achieving the network’s long-term success and overarching goal of progressive decentralization.
Overview
The proposed Hxro Grant program is made up of three pillars:
“#ProofOfHxro” grants:
- Main Goals:
- Incentivize Initiatives: To incentivize regular developers to go through the docs, then develop cool open source shit that can give them the possibility of earning for learning and building
- Developer Onboarding: This will give us more visibility, leading to more devs coming on board. This initiative will cause a chain reaction of #ProofOfHxro tweets, which gets our name out there to more Developer Communities
- Allocation % (of total grant budget): 25%
- Target: Low-to-Mid level Devs
- Concept: Developers can receive grants in esHXRO for any of their apps that integrate with Hxro Network.
- Submission: Devs would make their submissions through twitter posts by posting:
- Small Description
- Live Demo/Video Demo
- Github repo link (must be Open Source)
- Tag the HxroNetwork account + put #ProofOfHxro on the tweet
- Their solana wallet address
Bounty program:
- Main Goal:
- Reward contributions to the Hxro Network: Community members are rewarded for bringing value to the network through activities that help the network grow.
- Allocation % (of total grant budget): 25%
- Target: Non-devs + All level devs
- Concept: Putting up Bounties for completing different tasks that we put out, with a 1-4 difficulty rating system for each task/bounty; the bounty will increase or decrease in value according to the difficulty:
- 1 = Non-devs
- 2 = Low Level Dev
- 3 = Mid Level Dev
- 4 = High Level Dev
- Submission: All bounties will be posted on hxro.com as well as in the SuperTeamDAO’s Bounties board for visibility and exposure
dAPP program
- Main Goal:
- Encourage high-tier teams to integrate Hxro Network protocols and build our credibility
- Allocation % (of total grant budget): 50%
- Target: Mid-to-High level Devs & Teams (NFT Collections, Data Visualizers, Games, DeFi Protocols)
- Concept: Having an onboarding program to incentivize major builders to build for/integrate our Protocols in user-ready dAPPs
- Submission: Outreach and private conversions with these individuals and/or teams to build on top-of/with Hxro
Projected allocation breakdown:
1,250,000 HXRO (25%) - #ProofOfHxro grants*
1,250,000 HXRO (25%) - Bounty program*
** 2,500,000 HXRO (50%) - dAPP program*
We look forward to hearing feedback from the community on this proposal.
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