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We present the census of H$\beta$+[OIII] 4960,5008 \AA emitters at 6.87$ galaxies. We report a rapid decline of the [OIII] luminosity density at $z\gtrsim 6-7$ which cannot be explained by the evolution of the cosmic star-formation rate density. Finally we find that FRESCO detects in only 2h galaxies likely accounting for $\sim 10-20\%$ of the ionising budget at $z=7-8$ (assuming an escape fraction of 10%), raising the prospect of directly detecting a significant fraction of the sources of reionisation with JWST., Comment: 20 pages + appendices. Accepted in MNRAS. Public catalogue release at https://github.com/rameyer/fresco. V3: matching accepted version

We present the JWST Cycle 1 53.8hr medium program FRESCO, short for "First Reionization Epoch Spectroscopically Complete Observations". FRESCO covers 62 arcmin$^2$ in each of the two GOODS/CANDELS fields for a total area of 124 arcmin$^2$ exploiting JWST's powerful new grism spectroscopic capabilities at near-infrared wavelengths. By obtaining ~2 hr deep NIRCam/grism observations with the F444W filter, FRESCO yields unprecedented spectra at R~1600 covering 3.8 to 5.0 $\mu$m for most galaxies in the NIRCam field-of-view. This setup enables emission line measurements over most of cosmic history, from strong PAH lines at z~0.2-0.5, to Pa$\alpha$ and Pa$\beta$ at z~1-3, HeI and [SIII] at z~2.5-4.5, H$\alpha$ and [NII] at z~5-6.5, up to [OIII] and H$\beta$ for z~7-9 galaxies, and possibly even [OII] at z~10-12. FRESCO's grism observations provide total line fluxes for accurately estimating galaxy stellar masses and calibrating slit-loss corrections of NIRSpec/MSA spectra in the same field. Additionally, FRESCO results in a mosaic of F182M, F210M, and F444W imaging in the same fields to a depth of ~28.2 mag (5 $\sigma$ in 0.32" diameter apertures). Together with this publication, the v1 imaging mosaics are released as high-level science products via MAST. Here, we describe the overall survey design and the key science goals that can be addressed with FRESCO. We also highlight several, early science results, including: spectroscopic redshifts of Lyman break galaxies that were identified almost 20 years ago, the discovery of broad-line active galactic nuclei at z>4, and resolved Pa$\alpha$ maps of galaxies at z~1.4. These results demonstrate the enormous power for serendipitous discovery of NIRCam/grism observations., Comment: 12 pages, 11 figures; MNRAS in press; for more information on the survey and data releases, see http://jwst-fresco.astro.unige.ch/ and https://archive.stsci.edu/hlsp/fresco