ICON Developer Portal

ICON Developer Portal

ICON Network is a decentralized smart contract protocol based on ‘loopchain’, a high-performance blockchain engine. The ICON Network aims to remove barriers among different blockchains and allow them to exchange values without intermediaries. By realizing this goal, ICON will realize the mass adoption of blockchain technology and Hyperconnect the World.

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Basic IISS Overview

  • ICON Incentives Scoring System (hereinafter referred to as "IISS") is an evaluation system for accurately measuring and compensating the contributions of ICONists within the ICON Network.
  • The ICON Network defines 7 contribution items based on the 'Delegated Proof of Contribution' incentive protocol to identify and promote significant contribution activities to the decentralized network. Each ICONists can demonstrate its contribution to the ecosystem via delegation.
  • I-Score is the ecosystem contribution score. IISS calculates and distributes I-Score for each contributing item every 43,200 blocks and determines the ICX issuance accordingly. After then, I-Score can be converted to ICX via Public Treasury. Based on the advanced on-chain governance system, IISS determines the issuance amount of ICX for the ecosystem.
  • ICON Network's on-chain governance-based crypto economy is designed to work flexibly depending on the network situation that the network can develop successfully in a decentralized environment.

Delegated Proof of Contribution

  • Delegated Proof of Contribution (DPoC) is the incentive protocol to determine the contributions in the ecosystem. IISS works based on DPoC mechanism. 7 types of contribution items can be demonstrated by IISS.

  • Representative

    • A Public Representative (P-Rep) is a full node on the ICON Network that participates in consensus and governance.
    • P-Reps consist of the top 22 Main P-Reps and 78 Sub P-Reps, and are elected by ICONists.
    • Block Validation Reward
      • Block Validation Rewards are given to the top 22 Main P-Reps for block production and verification.
    • Representative Reward
      • Representative Rewards are given to all 100 P-Reps according to the delegated amount of ICX received.
  • Ecosystem Expansion Project (EEP)

    • EEP is a project that contributes to the growth and expansion of the ICON Network and ecosystem. The scope of an EEP includes ICON mainnet development, 3rd Party App development, community growth, educational initiatives, and so forth.
    • All ICONists can propose and execute EEPs and receive a reward when they are delegated a certain amount of stake from other ICONists.
    • EEP Reward
      • The top 100 EEPs can be rewarded according to the delegated amount of ICX from the Public Treasury.
  • DApp Booster Program (DBP)

    • DBP is a program for activating ICON Network and ecosystem. DApp increases the practical value of ICON Network and makes it useful.
    • DApp refers to a decentralized application that operates one or more SCOREs (Smart Contract on Reliable Environment) on the ICON Network.
    • All ICONists can evaluate DApps and delegate their ICX to DApp.
    • DBP Reward
      • The top 100 DApps can be rewarded according to the delegated amount of ICX from the Public Treasury.
  • ICONist

    • All ICONists can receive the reward in return for delegate ICX to P-Reps, EEPs, and DApps.
    • Three types of Reward for ICONist
      • Representative Delegation Reward
      • EEP Delegation Reward
      • DApp delegation Reward
    • All ICONists can contribute to the network through the delegation of ICX.
    • Therefore, ICONist can receive rewards according to the delegated amount of ICX.
  • Contribution Items

ItemDescription
Block Validation Reward (β1)Reward for block production and verification when a representative produces and verifies a block
Representative Reward (β2)Reward for delegation when a Representative is delegated by ICONists
Representative Delegation Reward (β3)Reward for delegation of a representative when ICONists delegate a representative
EEP Reward (β4)Reward for delegation when an EEP is delegated by ICONists
EEP Delegation Reward (β5)Reward for delegation of an EEP when ICONists delegate an EEP
DApp Reward (β6)Reward for delegation when a DApp is delegated by ICONists
DApp Delegation Reward (β7)Reward for delegation of a DApp when ICONists delegate a DApp

Governance Variables

  • The following table introduces the governance variables mentioned above. The governance variables consist of a total of seven items: reward variables for the entity delegated ICX, reward rates for the ICONist delegated ICX, and variables for setting the amount of Step, the fee for the network.
  • Governance Variable determines the amount of reward for each contribution item.
VariablesNameExplanation
i_repExpected Monthly Reward per RepresentativeExpected reward amount for representative is determined by the weighted average of each representative suggestion. Each P-Reps suggest this amount based on their expenditure and profit.
i_eepExpected Monthly Reward per EEPExpected monthly reward amount for the EEP when EEP receives 1% of total delegation.
i_dappExpected Monthly Reward per DAPPExpected monthly reward amount for the DApp when DApp receives 1% of total delegation.
r_repRepresentative Delegation Annual Reward RateRepresentative Delegation Annual reward rate is determined by the delegated amount to the representative.
r_eepEEP Delegation Annual Reward RateEEP Delegation Annual reward rate is determined by the delegated amount to the representative.
r_dappDApp Delegation Annual Reward RateDApp Delegation Annual reward rate is determined by the delegated amount to the representative.
sStep PriceMinimum transaction fee in the ICON network which is determined by representatives.

Updated about a year ago

Governance - IISS


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