Echelon Grants

Unlike loans, grants do not need to be paid back.

These grants are intended to help accelerate and provide support for projects that already have a minimum viable product, prototype, or educational purpose.

Echelon will not typically provide a grant to early-stage ideas without one of the above. However, one may be provided, if a team or individual, has a good history of experience with the creation of similar projects.

The grant program exists to encourage innovation, education, and growth of the Echelon Ecosystem.

Members of the community can apply for a grant from Echelon to support the creation of products and/or tools related to or benefiting the Echelon ecosystem. Anyone from any background can apply.

Quoting directly from the Echelon Prime Update, application submissions must include the following to be considered as valid and complete:

1. Overview: This section highlights what the issue is.
2. Approach: This section outlines how and by whom the issue is solved.
3. Rationale: This section explains why the solution is appropriate and its benefit
to the $PRIME Ecosystem or the community.
4. Timeline: This section forecasts when the proposal could be completed.
5. Costs: This section provides an approximate cost for implementation.

All grants submitted must undergo a $PRIME voting process. This process has 4 steps:

Step 1 – Pay a fixed, non-refundable fee of 2 $PRIME to submit a grant application on echelon.io.

Step 2 – Reach the appropriate quorum [Prime Update section 2.4] over a two-week voting window to qualify. Per quarter, the top 3 grant applications that reach quorum will move to EP review. The remainder of applications that reach quorum, but are not in the top 3, will be wait-listed or reviewed at the EPs discretion.

Step 3 – Successfully pass EP review. Refer to Echelon Charter section 4.1.1 for info.

Step 4 – Receive clearance from the Echelon Governance Board prior to implementation.

Grant applications that pass the $PRIME voting process and have moved on to EP review are evaluated based on: how clear their plan is in reaching their goal, and how they will benefit the Echelon ecosystem. EPs may choose to work with applicants in order to refine their applications. Moreover, they always have the power to reject or provide partial funding as they see fit.

If an application is approved, Echelon will enter into an agreement with the applicant, and document the awarded grant on Echelon.io