Introducing Qubic Incubation Program

Qubic Incubation Program provides initial funding and support for developers to bootstrap their projects. By providing initial funding, developers will have crucial support in the early stages of development. 

Developers selected for the program will receive funding from the Qubic Ecosystem Fund, which currently has 200 billion QUBIC available. The program will incentivise development of innovative for-profit projects and contribute significantly to the further growth and adoption of the Qubic network. 

Current Projects

Several projects are currently underway.

They include:

• QX UI: The user interface for QX, the Qubic decentralised exchange (DEX).

• Liquidity Pools: Smart contracts that will pool coins to be swapped.

• Custom Bridges: Bridges facilitate transferring coins between the Qubic (non-EVM) network and the Ethereum/Arbitrum One networks. Support for additional networks is underway.

• Launchpad: A dApp for fundraising which allows community members to launch their own tokens and projects within the Qubic network.

Incubation vs. Grants

The Qubic Incubation and Grants programs are similar, however there are key differences.

Incubation Program: The Incubation Program provides initial funding to incentivise developers to build for-profit projects on the Qubic network

Grants: The Grants Program is designed for non-profit projects which may not have an established revenue model. Grants serve to further develop the Qubic infrastructure without necessarily generating profit

Application & Proposal Development  

Development teams submit a proposal with the details of their project. The Incubation Team evaluates the proposal for alignment with Qubic’s objectives and provides guidance to ensure the project is suitable for further development.

The proposal analysis process consists of three phases:

1. Adaptation to Qubic’s needs: Projects that best meet Qubic’s objectives and provide the most value within the ecosystem are prioritized.

2. Functional validation and design: A high-level design is reviewed to ensure it is functional and achievable, and the business model is evaluated to confirm it is a good match for the ecosystem.

3. Market cost adjustment and for-profit orientation: The costs of the initial development phases are approved.

Review Process

After the Incubation Team reviews the proposal, it is submitted to the Qubic Grants Committee for evaluation of technical and market feasibility. Then it is submitted to the Qubic community for a final vote. 

Voting is accomplished through a poll presented to the community in a separate channel dedicated to the incubation program within Qubic’s Discord. The voting period remains open for five days to allow the community ample time to review the project and respond. The project receives funding if a minimum of 55% of voters approve it. 

Upon approval, development teams will be introduced to the community and assigned a Discord channel dedicated to their project. This decentralised approach allows the community to contribute to the selection process.

Funding and Milestones

Once approved, developers receive initial funding to begin their project. Additional funds are disbursed on an ongoing basis upon completion of pre-determined milestones. The Qubic core team provides support as necessary to bring the project to completion, however successful development of the project remains the responsibility of each development team.

Milestone-based Funding

Milestone-based Funding ensures accountability and progress by requiring milestones to be met before developers receive further funding.

Payments

The teams in the incubation program are funded based on milestones and payments are calculated in dollars. Payments are made in QUBIC, through a wallet where the traceability of all payments can be followed to provide transparency and accountability.

Requirements for Teams

Teams must provide the following:

• Business Plan: Plan stating how the objectives of the project will be achieved.

• Project Description: Detailed explanation of the project.

• Technology Stack: Outline of front-end, back-end, and protocols.

• Team Overview: Team members, background, and their current roles.

• Milestones: Clearly defined deliverable milestones for project progress.

• Commitment: Commit to at least one year of maintaining, developing, and delivering the project, ensuring long-term stability.

Looking Ahead

We are looking forward to helping developers develop innovative projects that will help Qubic grow. By providing initial funding, and ongoing support, the Qubic Incubation Program will assist developers in overcoming challenges often encountered in early stages of project development.

Do you have an idea that will enhance Qubic? Submit an application to the Qubic Incubation Program. 

Learn more and apply here.

Connect With Us

Join our Discord server and Telegram group to share your thoughts and questions.