0xIncubator is a decentralized incubator protocol that gives every member of the protocol the chance to participate in seed funding innovative ideas and projects. Members get to vote on the projects and a projects that gets at least 70% yes from at least 90% of the members of the protocol gets incubated.
There are three main things members of the protocol can do; members can contribute funds to the protocol, members can vote on projects that should be incubated and members can fund projects. These are explained as follows:
Incubator Allocation
Each member gets an incubation allocation that they can contribute to the protocol. This is defined by the Incubation Allocation for each member which is the maximum amount of BUSD or USDT a member is allowed to deposit into the incubation pools.
The incubator allocation works using the tier-weight system as well.
That is:
If
Quserββ₯Qthresholdβ
β
If the tokens staked or LP staked by a member is
Quserββ₯Qthresholdβ
, then the Incubation allocation of this member is given by:
β
Auserβ=AfβΓAmaxβ
β
If
Quserβ<Qthresholdβ
β
If the tokens staked or LP staked by a member is
Quserβ<Qthresholdβ
, then the Incubation allocation of this member is given by:
β
Auserβ=QthresholdβQuserββΓAfβΓAmaxβ
β
Where the tier allocation factors
Afβ
Tier
Allocation Factor
Bronze
0.4
Silver
0.6
Gold
0.8
Platinum
1.0
Members Voting Weight
Each member has a right to vote and a voting weight depending on their member type and their token weight. The voting weight of each member is given by:
β
Votememberβ=Afundsβ
β
Funding Projects
A project that passes vote is funded and incubated. To pass a vote, at least 90% of the members of the incubator protocol must vote and also 70% must vote yes.
When a project passes, funds are contributed from all members (from their available allocation deposit) proportionately to fund the project.
In turn, the members who contribute funds to a project that passed gets the project's token at the seed funding price for the allocation they contributed.
The amount contributed by each member who voted yes is given by: