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ICON Newsletter #17 - Revised IISS 3.0 Proposal Successfully Passed

ICON Newsletter #17 - Revised IISS 3.0 Proposal Successfully Passed
By ICON Newsletter • Issue #17 • View online
Key Highlights
  • The long-awaited revised IISS 3.0 Proposal successfully passed!
  • 46.9% of circulating supply staked vs. 38.4% at the end of 2019. 30.3% of total supply staked
  • ICON network maintained 122 P-reps. But, don’t worry. We know more are joining.
  • Main P-Reps lowered i_rep to 43,835 from 44,888 the previous week
  • ICON makes headlines for multiple news sites including BTCManager, CryptoSlate, and Flipside Crypto
  • ICON ranked #4 by active users and volume according to 2020 Q1 DAPP Market Report by
  • ICON Foundation releases Monthly Grant Recap for April 2020 with 4 grants approved
Dear ICONists,
It’s been another important week for the ICON project record books. As mentioned above, the long-awaited revised IISS 3.0 Proposal was voted by 22 P-Reps and successfully passed. The voting ended quickly after the first 17 P-Reps all voted in favor.
Why is this significant? Yes, P-Reps voted and passed proposals in the past. But, this is a big deal because this was an extremely complex and sensitive topic that radically changed the economic structure of the ICON network. There were many days of online and offline debates and negotiations, but in the end, we were able to come to an agreement. This is where many other blockchain projects have failed. ICON not only boasts on-chain governance, which is actually a rare feat in itself, but we have also proven strong governance.
I’d like to thank all the P-Reps for all the hard work and our community members for patiently waiting. Let’s keep rolling!
Min Kim, ICON Foundation Council Member

How P-Rep Voting Works
ICON Network On-Chain Voting Results
ICON Network On-Chain Voting Results
You can check out the details of the voting results via ICON Tracker: Network Proposal page.
Some asked why 5 of 22 Main P-Reps did not participate in voting. As Scott Smiley wrote in his tweet (below), the voting closes when there are enough votes to pass. So, not all Main P-Reps have a chance to vote.
Scott Smiley
This is an unfortunate issue with the current governance design that will be fixed, and I'm sure Justin isn't the only person thinking this so just want to clarify.

NOT EVERYBODY HAD THE CHANCE TO VOTE. The vote closes as soon as it is passed. Please don't judge teams on this 🙏
BTCManager features ICON's On-chain Governance
Last week, we announced our media collaboration with BTCManager. It’s great to see their reporter wasting no time and pushing out a nice story highlighting the significance of the revised IISS 3.0 voting and ICON’s on-chain governance. BTCManager has strong influence in the blockchain industry with close to 35K Twitter Followers. However, it’d still be great if the ICON community shows some appreciation and support by following BTCManager.
The article concludes:
“Concluding, the exhaustive proposal looks to create and establish a decentralized funding mechanism to not only drive the growth and collaboration within the ICON community but also to ensure the network doesn’t fall prey to any malicious outside attacks.
It further sheds light on the strong community values imbibed among the ICON community members and seeks to function as a guide that catapults the Korean blockchain project into becoming a force to reckon in the global blockchain space.”
Please click here or link below to read the full article.
ICON (ICX) Set to Vote on Proposal to Further Decentralize Economic Reward System | BTCMANAGER
ICON makes more headlines
ICON continues to be make headlines in various news sites. this week, CryptoSlate featured ICON Founder Min Kim’s recent tweet on the latest status on Covid-19 situation for ICON HQ and Korea. Flipside Crypto featured ICON’s new LFT2 Consensus Algorithm. Both can be read via the links below.
This top crypto company is returning to work as South Korea coronavirus outbreak slows | CryptoSlate
Daily Mover: ICX ▲ | Flipside Crypto
ICON ranked #4 by
 2020 Q1 DAPP Market Report (
2020 Q1 DAPP Market Report (
Numbers don’t lie. ICON is now the #4 public blockchain projects in terms of active users and volume. We realize that there is a sizable discrepancy between ICON and the top 3 chains. However, the ICON team looks at this as an upside opportunity. In addition, when you look at how many chains are ranked below ICON but are above on CoinMarketCap(CMC), we have a strong conviction that we are headed in the right direction.
ICON has never focused on sheer number of DAPPs. We’re not saying that the number of DAPPs is not important. We believe at this time, our team is focused on DAPPs that display a meaningful use of blockchain technology. 
Please click here or the link below to read the full report.
2020 Q1 Dapp Market Report by DappReview - DappReview
ICX Comics #6: Build Dapps on ICON Blockchain
Here is the latest illustration on building a DAPP on ICON blockchain by ICX Comics. For a higher quality version of this, please visit
ICON Foundation approves 4 Grants in April
ICON Foundation reinvests 100% of its block rewards towards projects that we believe increases the value of the ICON ecosystem (ICX) in the long run. We are excited to be providing grants for the following projects:
  • Atomic Wallet (Infrastructure) - ICX integration with direct staking/voting feature
  • Online Hackathon (Education) - Online hackathon on the largest hackathon platform in the world, Devpost
  • Messari Registry (Service) - Add to Messari’s disclosure registry providing credible information about ICON project to its global investor user base
  • ICON Vote Monitor (Infrastructure) - Upgrade current version to track voting and all ICON accounts activity
Please click here or the link below to read the full report.
ICON Monthly Grant Update — April 2020 - Hello ICON World
P-Rep Plans and Updates
In our newsletter #14, we acknowledged the problems with vote stagnancy and the resulting unfairness with block rewards distribution. While we do our best to address this issue, we’d like to ask our community to spread the word on P-Reps that are meeting or exceeding expectations.
Below are some recent examples of P-Rep teams making commitment to the ICON community. Check them out.
Interested in what block42 is developing on ICON network? You can read a short summary of all our current confirmed projects below.

$ICX #ICX #ICONProject #transparency
Metanyx releases more details of our ICON 2020/2021 Roadmap @helloiconworld @TheIconistNews
Transparency Update

➡️ Team is working tirelessly & recruiting more
➡️ Putting together Large Marketing Campaign
➡️ Restaking 100% of Rewards. Not selling & longing #ICX
➡️ Currently running at a loss & covering salaries & campaign costs ourselves

We ♥️ ICON and need your Vote!
Mineable and Ubik release new videos
New videos from Mineable and Ubik. Click below to watch.
ICON ICX Is About to Explode, Surpasses EOS & Cosmos, LFT 2.0 | iconTV
ICON ICX Is About to Explode, Surpasses EOS & Cosmos, LFT 2.0 | iconTV
ICX Weekly: With Special Guest: Yasha of Block42
ICX Weekly: With Special Guest: Yasha of Block42
In case you missed it...
ICONists, your wait is over. Our "ICON TipTap Bot" is approved and live in mainnet. Get ready to tip.
Register now:
Read how to use the bot:
@helloiconworld @Daily_ICX @ICXBuddy @ICONDAO @parrot9design
#ICONProject #ibrizaicon #ICON
Thanks to @helloiconworld and @ICONationTeam our project is approved for funding and already on the way!

Only a few months and our trading game will be live on the #ICONProject chain! Stay tuned for teasers! 😉
MyIconWallet App sneak peek! 👀 We begin beta testing this week and are in the final polish stages. Here you can see some of the onboarding screens... We can't wait to show you more! 🔥

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