In 2015, Christopher Franko, a full-stack software engineer and one of the earliest adopters of blockchain technology decided, that the world needed a better, faster and flexible blockchain that anyone can use to create apps on. He envisaged a platform that adhered to the original Satoshian vision of freedom and zero regulation. Christopher teamed up with like-minded individuals and Expanse was born.
Expanse allows anyone to build, as well as use, decentralized applications, or dApps. Built by many people, Expanse is a platform that allows flexibility and adapts to multiple variations. Expanse is decentralized, open-source, fast, scalable and has a dedicated team of forward-thinking veterans of the industry who, over a period of three short years, have forged important and extensive industry partnerships.
Expanse has seen consistent growth and stability since its inception. It has also garnered the support of a fast-growing loyal community who continue to help Expanse achieve its vision. Everyday, new projects are born on the Expanse platform and in the words of Mr. Franko, “What you can do on Expanse is only limited by your imagination and talent.”
In keeping with its philosophy of making blockchain based projects more efficient and within everyone’s reach, Expanse.tech has set up a dedicated fund of $1,000,000 exclusively for innovative projects that are built on and around Expanse. Financial grants ranging from $5,000 to $50,000 are awarded to ideas that offer some unique solution or service while making use of the Expanse platform in some manner.
There are no other conditions to be met: Expanse has no interference in the ownership of IP, publishing of data or usage of the grants funds. It is very simple for entrepreneurs to use the Expanse platform, since they can use Expanse’s EXP token for their ventures instead of creating their own. Expanse also offers the benefit of a huge existing network and immense scalability. It is also beneficial for Expanse to have projects with real and relevant uses of blockchain on its network.
The process of grants begins with creation of a funding opportunity, goes on to applying for the grant, and then to deciding about the award and then successful awarding of the grant. The entire process is divided into 3 distinct phases:
- Pre award phase- funding opportunities are created and applications reviewed
- Award phase- deciding awards and notification of the same
- Post award phase- implementation of the grant and reporting of the same
During the pre award phase, invitations for applications (with specifications like last date for submission of proposal etc) are posted, and then the awarding team reviews applications submitted for the grant. The grants review board reviews scores of applications from entrepreneurs who aspire to build projects to launch on the Expanse platform.
They screen the applications, conduct programmatic reviewing followed by financial review and then decide who the recipient of the grant should be. Each proposal is scrutinized, the whitepaper checked and the attached budget analyzed by the team. Expanse also plans to make the review process more democratic and allow public voting in the future. The team also carries out cost analysis and ensures that all statutory and financial regulations are met.
After the application review, the Expands Grants team decides about the recipients of the grants. Their decision is based on the financial and programmatic reviews done by the review members of the team. In order to ensure fair and prejudice-free decisions, the recommendations of the awards team are reviewed stringently. This is the awards phase. The awarding agency then sends a Notice of Award, which is officially and legally binding. Once the grant is accepted, the receivers must carry out all the terms and conditions the grant comprises of.
The post award phase comprises of implementation of the grant, regular reporting about the progress of the project and closeout. The Expanse team not only gives the award, but also assists the awardees comply with all regulations, while they carry out the project which they have been awarded the grant for. They have specific performance metrics to monitor the progress and expenditure. Such reporting, which varies for each grant, is done by designated grants management officer and program officer to ensure transparency and to avoid any chance of fraud.
Finally the award recipients are required to carry out closeout by submitting financial, performance and programmatic reports when the grant expires or is terminated. All reports are reviewed b Expanse Grants staff to ensure that all the funds have been utilized in the right manner. The Grants team then also confirms that the recipient of the grant has completed all tasks related to the grant. The recipient must retain the records for 3 years from the date of the final closeout report.
The Expanse Grants program has become immensely popular within a very short span of time, and there have been multiple recipients of this award since its inception a couple of months ago.
Case in point is a project called SLIPS. Sponsored by Marcia Lewis Danzeisen, Expanse CAO, Slips was co-founded by Husain Fazel, CEO, and Kyle O’Neill, Creative Director. It is a blockchain-based social betting platform for gamers. The SLIPS team has announced its project roadmap, too. SLIPS aims to make betting free of restrictions, and let eSports gaming fans bet against each other, while also watching the streams they regularly follow, since SLIPS overlays existing platforms. It also adds to the revenue sources for stream owners. Moreover, since Expanse already has EXP tokens, they can readily make them available to their users to make bets.
“We feel we’ve come up with an extremely interesting concept, and we have a huge target audience,” said Kyle. “We’ve been working diligently on building our proof of concept, (as opposed to throwing up a smart contract to raise funds), and connecting with our audience. We don’t need to reinvent the wheel and create our own blockchain. We plan to look to Expanse for that. We have entirely different problems to solve like user experience and adoption.
Husain is a full stack developer while Kyle is a communication designer. Apart from expanding the team, they are also using the funds for developing the proof of concept. The development of the project is in full swing. The grant has helped the team garner the necessary funds to complete aspects of the project that were being hampered by the bottleneck of lack of funds. Now with the funds as well as the might of the Expanse team’s expertise, they are track to complete the project that will hugely benefit both their target audience as well Expanse.