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Rollups will be the centerpiece of 2023. Why? Scalability has been a bone in the throat for Ethereum. It is trying to remove these bones without hurting itself by creating a rollup-centric roadmap. How so? With the rise of layer 2 solution, Ethereum has no choice but to ship the Sharding. The Sharding will enable the Ethereum scale with the help of Layer 2. Layer 2s come in different forms. However, Ethereum is capitalizing on rollups, as they help reduce gas fees by up to 100x. In this piece...
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βιντυOptimistic Rollups: Arbitrum Vs Optimism (Insights)
Rollups will be the centerpiece of 2023. Why? Scalability has been a bone in the throat for Ethereum. It is trying to remove these bones without hurting itself by creating a rollup-centric roadmap. How so? With the rise of layer 2 solution, Ethereum has no choice but to ship the Sharding. The Sharding will enable the Ethereum scale with the help of Layer 2. Layer 2s come in different forms. However, Ethereum is capitalizing on rollups, as they help reduce gas fees by up to 100x. In this piece...
βιντυIntroduction to Continuum (learn-to-earn Platform)
The blockchain ecosystem is rapidly expanding with innovations. It has moved from merely facilitating decentralized payments to enabling decentralized web products. That is why we can find a wide range of products in different categories such as gaming, finance, education, etc. If you are curious about the ecosystem, it is crucial you understand blockchain products, the way they work, and their offerings. In this piece, I'd be introducing you to one ambitious learn-to-earn blockchain pro...
βιντυThe Magic of Compounding
Again, I lost my job. This time I wasn't mad at the fact that I got sacked. I weep because I caused it. On that call, my boss reiterated the major principles of the team, and indeed I lagged. While I can't state it here, one of the critical themes of those principles was input. He also mentioned that you can't always control the outcomes. However, you need to sweat the input. These words stuck with me, and I knew exactly where I messed up. The same evening, I took to Twitter, r...
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Today, I will be talking about bounties and bounty boards.
In this article, you will learn:
The meaning of Web3 bounties
How bounties work
Benefits of bounties
Where to find bounties, and many more.
Let's begin!
In the Web2 realms, freelancers work on delegated tasks, either one-time or on a rolling basis. Bringing this concept into the Web3 ecosystem, let’s refer to these tasks with rewards as bounties.
I took to Twitter and asked my mutuals what difference exists between bounties and quests. For the sake of this piece, I'd be sharing some of their definitions of bounties.
" Bounty is a reward for successfully executing a mission". - John Fawole
"But for bounty: it’s purely a reward-based activity. It could be a bounty for someone (to kill something or someone, haha) or a bug (more for the hackers). This one requires one’s skills, either digitally or physically. Sha know bounty, it can either be to find it dead 💀 or alive" - Nicksol
"Bounty has to deal with humans…find something valuable of some sort" - Pure
" Bounty is something you find" - Eskimo YoYo
"Bounty is a hunt with a reward" - Akore
All the above explanations define bounty in good ways. But, I'd summarise these definitions by saying bounty is a reward for an activity you complete. In the Web3 world, the tasks are often skill-based and help an organisation or Decentralized Autonomous Organization (DAO) reach its goals. Because people contribute to the end goal of these DAOs, they get paid. They get paid in tokens, which could be the project's native token or another token/coin.
Recently, I helped Bankless DAO write an article for their newsletter, and I got paid in their utility token, BANK. We can more or less call this a bounty.
Another exciting aspect about bounties is that they are most likely on-chain. While the task may not be on-chain, the record for the task and payment is on-chain. What do I mean by on-chain? It is done on blockchain technology. Most times, bounty boards require you to connect your decentralized wallet (Trust wallet, Metamask, Phantom, etc.).
Mind you; there are different types of bounties. But the most common type is bug bounties. Developers are paid to solve bugs and receive payments for their help.
Now, you may be curious, “how do Web3 bounties work?”
Investopedia defines a bounty as " a sum paid by a government or business entity to reward certain activities or behaviour for reaching an economic goal or solving a problem."
From this definition, we can say bounty works when someone completes a task and gets paid.
Now let me explain the process of completing bounties.
The first thing to do is to hop on a bounty platform. This is the easiest way for organisations and users to connect. Organisations can drop their bounties here, while users discover bounties on this platform.
After that, you create an account. Depending on the platform, you may connect your crypto wallet and still connect other profiles, like your email address, Discord, or even Twitter.
Then, your search for bounties based on your skill set. Often, these platforms list bounties based on skills, so it becomes easy for users to find what they can do.
Read the instructions attached to the tasks. Complete the task. Submit it, and wait for payment.
The payment will be sent to your linked wallet address.
Sometimes, contributors will have to express interest in the tasks, and the project owner picks their preferred contributor. Other times, the contributor has to be a member of the organisation with the task, and the task has to be delegated to them before they can attempt it.
You may ask yourself, why should I complete a bounty? You should attempt a bounty for many reasons, and we will reveal some of them in the following paragraphs.
Completing bounties is an excellent way to build your on-chain resume. With your profile, projects can easily see that you've interacted with blockchain technology in the past.
These bounties allow you to interact with protocols and not just know terminologies but also understand them. Aside from that, you get to build human relationships. You meet project leads, network, and establish connections that may help you find a job in the near future.
You get to show future employers that you bark and bite; you don't just brag about knowing terms but also have experience. An employer will easily trust you if they see that you've done actual work in the ecosystem.
You can earn fungible and non-fungible tokens with bounties. Some bounties give you NFT badges, and others provide you with crypto tokens that are worth something.
The most common place to find a bounty is a bounty board. These boards are similar to freelance marketplaces that connect clients and freelancers. They connect DAOs or project managers with contributors (people that work on a bounty). They can also be referred to as Web3 project management platforms. Let's look at some common Web3 bounty boards.
Dework is a decentralized project management board that enables contributors to find jobs, and decentralized autonomous organizations post jobs. Once Web3 enthusiasts register on Dework, they discover top-ranking DAOs, bookmark tasks, manage tasks, and get paid.
It is an open-source community that allows posting software-oriented bounties for the developer community. On Gitcoin, developers can find bounties for big Web3 organisations like Metamask. It is also essential to know that the rewards are only paid in Ether or ERC-20 tokens.
Gitcoin is more or less the Web3 version of GitHub. The major difference is that contributors get rewarded with tokens.
Chainwhiz is a Web3 bounty board that connects contributors with protocols and the community. Like most of the other bounty boards on this list, Chainwhiz enables users to work on decentralized tasks and get paid.
Wonderverse has a similar interface to Dework. It is mainly used for collaborative work. DAOs, guilds, and projects can drop their tasks, and contributors can find them. And like many other bounty boards on this list, activities are recorded on-chain. Aside from project management, Wonderverse also provides additional tools, like analytics, roles, and members, to help users keep track of everything necessary.
Rabbithole is more focused on helping users build on-chain resumes. How? They encourage Web3 enthusiasts to complete quests and get paid. Sometimes, these quests may no longer payout, but users can still interact with the tasks.
We've come to the end of this piece on bounties. As I explained, bounties are tasks with rewards, and you can find these bounties on bounty boards.
No, they are not. In fact, bounties already existed in other industries before web3 came. An example of such bounties may be the SEC bounty.
Bounties are not bounties without rewards. However, it is essential to note that sometimes someone else completed the bounty before you or did a better job, so they get the reward. In this case, you won't earn the tokens again, but you will gain on-chain experience.
That's not true. Although developer/bug/feature bounties are more common, there are many other kinds. There can be bounties for content writing, graphic designs, interacting with testnets, and more. This is more reason we included bounty boards that do not just provide bug bounties.
No. You can also find bounties from the protocol's website, its discord channel, and social media.
Today, I will be talking about bounties and bounty boards.
In this article, you will learn:
The meaning of Web3 bounties
How bounties work
Benefits of bounties
Where to find bounties, and many more.
Let's begin!
In the Web2 realms, freelancers work on delegated tasks, either one-time or on a rolling basis. Bringing this concept into the Web3 ecosystem, let’s refer to these tasks with rewards as bounties.
I took to Twitter and asked my mutuals what difference exists between bounties and quests. For the sake of this piece, I'd be sharing some of their definitions of bounties.
" Bounty is a reward for successfully executing a mission". - John Fawole
"But for bounty: it’s purely a reward-based activity. It could be a bounty for someone (to kill something or someone, haha) or a bug (more for the hackers). This one requires one’s skills, either digitally or physically. Sha know bounty, it can either be to find it dead 💀 or alive" - Nicksol
"Bounty has to deal with humans…find something valuable of some sort" - Pure
" Bounty is something you find" - Eskimo YoYo
"Bounty is a hunt with a reward" - Akore
All the above explanations define bounty in good ways. But, I'd summarise these definitions by saying bounty is a reward for an activity you complete. In the Web3 world, the tasks are often skill-based and help an organisation or Decentralized Autonomous Organization (DAO) reach its goals. Because people contribute to the end goal of these DAOs, they get paid. They get paid in tokens, which could be the project's native token or another token/coin.
Recently, I helped Bankless DAO write an article for their newsletter, and I got paid in their utility token, BANK. We can more or less call this a bounty.
Another exciting aspect about bounties is that they are most likely on-chain. While the task may not be on-chain, the record for the task and payment is on-chain. What do I mean by on-chain? It is done on blockchain technology. Most times, bounty boards require you to connect your decentralized wallet (Trust wallet, Metamask, Phantom, etc.).
Mind you; there are different types of bounties. But the most common type is bug bounties. Developers are paid to solve bugs and receive payments for their help.
Now, you may be curious, “how do Web3 bounties work?”
Investopedia defines a bounty as " a sum paid by a government or business entity to reward certain activities or behaviour for reaching an economic goal or solving a problem."
From this definition, we can say bounty works when someone completes a task and gets paid.
Now let me explain the process of completing bounties.
The first thing to do is to hop on a bounty platform. This is the easiest way for organisations and users to connect. Organisations can drop their bounties here, while users discover bounties on this platform.
After that, you create an account. Depending on the platform, you may connect your crypto wallet and still connect other profiles, like your email address, Discord, or even Twitter.
Then, your search for bounties based on your skill set. Often, these platforms list bounties based on skills, so it becomes easy for users to find what they can do.
Read the instructions attached to the tasks. Complete the task. Submit it, and wait for payment.
The payment will be sent to your linked wallet address.
Sometimes, contributors will have to express interest in the tasks, and the project owner picks their preferred contributor. Other times, the contributor has to be a member of the organisation with the task, and the task has to be delegated to them before they can attempt it.
You may ask yourself, why should I complete a bounty? You should attempt a bounty for many reasons, and we will reveal some of them in the following paragraphs.
Completing bounties is an excellent way to build your on-chain resume. With your profile, projects can easily see that you've interacted with blockchain technology in the past.
These bounties allow you to interact with protocols and not just know terminologies but also understand them. Aside from that, you get to build human relationships. You meet project leads, network, and establish connections that may help you find a job in the near future.
You get to show future employers that you bark and bite; you don't just brag about knowing terms but also have experience. An employer will easily trust you if they see that you've done actual work in the ecosystem.
You can earn fungible and non-fungible tokens with bounties. Some bounties give you NFT badges, and others provide you with crypto tokens that are worth something.
The most common place to find a bounty is a bounty board. These boards are similar to freelance marketplaces that connect clients and freelancers. They connect DAOs or project managers with contributors (people that work on a bounty). They can also be referred to as Web3 project management platforms. Let's look at some common Web3 bounty boards.
Dework is a decentralized project management board that enables contributors to find jobs, and decentralized autonomous organizations post jobs. Once Web3 enthusiasts register on Dework, they discover top-ranking DAOs, bookmark tasks, manage tasks, and get paid.
It is an open-source community that allows posting software-oriented bounties for the developer community. On Gitcoin, developers can find bounties for big Web3 organisations like Metamask. It is also essential to know that the rewards are only paid in Ether or ERC-20 tokens.
Gitcoin is more or less the Web3 version of GitHub. The major difference is that contributors get rewarded with tokens.
Chainwhiz is a Web3 bounty board that connects contributors with protocols and the community. Like most of the other bounty boards on this list, Chainwhiz enables users to work on decentralized tasks and get paid.
Wonderverse has a similar interface to Dework. It is mainly used for collaborative work. DAOs, guilds, and projects can drop their tasks, and contributors can find them. And like many other bounty boards on this list, activities are recorded on-chain. Aside from project management, Wonderverse also provides additional tools, like analytics, roles, and members, to help users keep track of everything necessary.
Rabbithole is more focused on helping users build on-chain resumes. How? They encourage Web3 enthusiasts to complete quests and get paid. Sometimes, these quests may no longer payout, but users can still interact with the tasks.
We've come to the end of this piece on bounties. As I explained, bounties are tasks with rewards, and you can find these bounties on bounty boards.
No, they are not. In fact, bounties already existed in other industries before web3 came. An example of such bounties may be the SEC bounty.
Bounties are not bounties without rewards. However, it is essential to note that sometimes someone else completed the bounty before you or did a better job, so they get the reward. In this case, you won't earn the tokens again, but you will gain on-chain experience.
That's not true. Although developer/bug/feature bounties are more common, there are many other kinds. There can be bounties for content writing, graphic designs, interacting with testnets, and more. This is more reason we included bounty boards that do not just provide bug bounties.
No. You can also find bounties from the protocol's website, its discord channel, and social media.
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