kenny 🎩
In our last blog, we covered some exciting new poidh developments. One of these was the poidh v2 smart contract:
While poidh v1 focused on 1-on-1 bounties, we've always discussed that the plan with v2 was to introduce "multiplayer" features that allow for anyone to contribute additional funds to a specific bounty.
With poidh v2 this is now a reality. Any user can now create an "open bounty" that allows anyone else to add funds. Doing so gives them voting rights to vote in favor or against any claim that the bounty owner eventually selects as the bounty winner.
We think that this open bounty functionality is a simple, yet powerful, new tool for onchain coordination. With this in mind, we wanted to provide an overview of how these bounties function, their features, and their limitations.
To create an open bounty, you will use the toggle switch found within the bounty creation form. By default, this switch will be set to "solo bounty". Fill out your title, description, and reward fields like usual, then turn "solo bounty" off to trigger an open bounty:
Double-check your information, then hit 🔴 to pay your bounty creation transaction fee. After the transaction is confirmed, you will see the bounty card appear within the poidh bounty feed.
Once you create an open bounty, the bounty page will look largely similar to a solo bounty. The main difference will be that there is a "contributors" tab and a "join bounty" button:
Clicking the "contributors" tab will allow you to see everyone who has added funds to the bounty, as well as how much they have added (this should show only 1 contributor, your address, to start).
Meanwhile, clicking "join bounty" allows users to add a specific amount of DEGEN to the bounty (or, in the future, ETH via our upcoming Arbitrum/Base deployments).
Once your funds are added, your wallet address should display under the contributors tab. From here, you'll want to keep an eye out for whether or not a claim has been selected for vote by the bounty creator. Remember, as a contributor, you will now have voting rights to potentially veto a claim selection you do not agree with.
Additional contributors to an open bounty (not the bounty owner) will see a button on the bounty page that says "withdraw". If for some reason you have lost faith that the bounty owner will be able to find a suitable claim for the bounty, or you simply need your money back, you can quickly withdraw your contribution:
Clicking this button and confirming the transaction in your wallet will allow you to withdraw the funds you contributed to the bounty. poidh takes no fees on withdrawals (but you will have to pay gas fees for your transaction).
Please note that withdrawals are only allowed when a bounty is not under vote. During voting periods withdrawals are locked. Furthermore, if a bounty claim is confirmed during a voting period, there will be no way for you to withdraw your funds (the resolve vote transaction will automatically send all bounty funds to the winning claim).
The only way to withdraw your funds following a voting period is if the claim is vetoed by a majority of voting bounty contributors. For more information, please read the "what happens when a vote fails?" section further down this page.
If you are the creator of an open bounty, you will see a "cancel" button displayed on the bounty detail page:
Clicking this button and confirming the transaction will fully close out the bounty, with all contributed funds returning to their original addresses. No fees are taken by the poidh protocol on canceled bounties, but you will have to pay gas fees.
Please note that gas fees for canceling an open bounty increase based on the number of contributors that have added funds to the bounty. This is because you are paying for funds to be sent to many different addresses, instead of only one.
Open bounties can be canceled by bounty owners whether or not they have pending claims. All pending claim NFTs for canceled bounties are effectively "burned", as there is no way to unlock them from the poidh contract following cancellation.
Open bounties cannot be canceled during voting periods. They also cannot be canceled following a successful vote in favor of a specific claim. However, if a claim is vetoed during voting, bounties can be canceled. For more information, please read the "what happens when a vote fails?" section further down this page.
If you create an open bounty and someone completes it sufficiently before anyone else adds funds, confirming the claim is as simple as confirming a solo poidh bounty. When you have your wallet connected as bounty owner, hitting the "accept" button on the claim card you want to reward will trigger a transaction confirmation in your wallet, and confirming that tx will transfer the bounty funds to the claim issuer and the NFT to you with no voting period:
Please note, due to our smart contract design, if an open bounty at any point has had contributors it is no longer eligible for automated completion. This means that, if a person adds funds to your bounty, then withdraws them, and you are once again the sole contributor, your bounty will still need to pass through the voting period before funds can be released.
This does not change which claim is rewarded the bounty (as your 100% vote in their favor will mean the vote is non-essential), but it does mean there will be a 48-hour period before the vote can be resolved and the funds released to the winning claim.
If your bounty has attracted contributors, accepting a claim will look a bit different. When you have your wallet connected as bounty owner, instead of seeing an "accept" icon over submitted claims, you will see a "submit for vote" button:
Clicking this button and confirming the transaction will start a 48-hour voting period 🗳.
During this voting period, all contributors will have the ability to vote either "yes" or "no" with their share of the funds contributed towards the bounty. Doing so is done by clicking either the "yes" or "no" button on the voting interface that will appear on the page during the voting period:
Voting is only available to contributors to the bounty. To vote, simply connect the wallet that you contributed with, click the corresponding button, and then confirm the voting transaction in your wallet.
Calling these functions will not work for anyone else. The "resolve vote" function will also not work until the 48-hour period has passed.
It's important to know that, as a bounty contributor, you do not need to add your vote after putting a claim up for a vote. Since you chose that claim, your share of the contributor funds will automatically be added to the "yes" count.
A vote is deemed successful for an open bounty if >50% of participating voters vote yes. Votes are weighted based on individual contributions to the bounty. Consider this situation:
There are 5 contributors to a 100 DEGEN bounty
Contributor A provided 40 DEGEN (40% vote share)
Contributor B provided 20 DEGEN (20% vote share)
Contributor C provided 15 DEGEN (15% vote share)
Contributor D provided 15 DEGEN (15% vote share)
Contributor E provided 10 DEGEN (10% vote share)
Contributors A & B vote "yes", while contributors C, D, & E vote "no"
The above voting scenario would result in the claim under vote being confirmed, even though only 2/5 voters voted "yes", because their 60% share would outweigh the 40% from "no" votes.
Remember, voters who do not participate are not counted in the equation. Let's consider a new scenario with the same voting share breakdown where contributors A, B, & C do not vote, while contributor D votes "yes" and contributor E votes "no". In this scenario, the claim being voted on would be approved, even though only 25% of voters participated in the process.
After the 48-hour voting period has passed and a majority consensus has voted "yes" on a specific claim, the "resolve vote" function can be called:
This function can be called by any wallet, not just contributors. This is because the function can only do one thing: execute the choice of the participants that voted. Calling the function in the case above would transfer the claim NFT to the original creator of the bounty, and all funds from the bounty to the winning claimant (minus the poidh contract's automatic 2.5% fee for completed bounties).
Please note, even if a contributor votes "no" on a claim (or refuses to vote at all), their funds in the bounty will still be passed to the winning claimant. There is only one way to keep funds from being sent to a claim, and that is if a vote fails.
A vote fails when >50% of participating voters vote "no" during the 48-hour period:
In this situation, hitting "resolve vote" will not reward any bounty funds at all. The bounty will simply be reset to its base state from before the voting period was started.
There will be no change in bounty funds, but at this point, bounty contributors can choose to withdraw their funds (if for some reason they have lost faith in the bounty creator to choose a sufficiently suitable claim).
Bounty creators can also at any time call another claim (or the same claim) up to vote in hopes of a positive outcome. They also can simply cancel the bounty and return all funds to contributors if they no longer believe they will be able to find a suitable claim.
We believe open/multiplayer bounties via poidh are an exciting new crypto primitive and we can't wait to see the use cases they unlock! If you have any questions, or simply want to discuss your idea for a bounty, please feel free to reach out on Twitter via @kaspotz or @poidhxyz, or hit us up on Farcaster @kenny or in the /poidh channel.
@julex @mariabazooka @trizsamae @elonmusic @cryptoznakamoto @kenny I'm finally closing out this bounty I let get dusty this past two weeks. ALL of the 5 submissions gave good feedback, a couple gave very specific and actionable feedback. I think @cryptoznakamoto did a good job communicating their ideas to improve the app and make it something people would return to using and I've chosen them as my pick for best feedback. Thank you @kenny for increasing our bounty and for being patient with me on the timeline with my spam knowing that I had to close this out. Thank you everyone!!!
777 $DEGEN for running a great bounty sir!
THANK YOU SO MUCH!!!!!!!! I think I'm gonna take a whack at some of these dope bounties that are up right now, it's crazy. The gig economy is alive and well! I like the removal of invasive plants one a lot and that one is easy as heck for me to whack at.
ohh that one would mean so much for me to have someone complete! a very cool person in the industry made it and I feel bad I haven't been able to get anyone to do it yet
love you @eatzebugs have a great thursday 🔥
😿
cool
lol
aight so wen u accept the claim?💀 can't wait to see money in my blank warplet👀
😭😭😭
a decision is in for the latest Guerrilla Ethereum Marketing bounty the winner is... @iamcharis! 🥳 🥳 🥳 she hung multiple posters featuring @0ffline's design 🤝 here's what her claim read: "This poster was placed in two high-traffic areas in Osun State, Nigeria. One of them (this one) is right at the entrance of Obafemi Awolowo University. It’s a strategic location where thousands of students pass through daily to school. If we’re serious about driving real change, scaling crypto awareness, and pushing for mass adoption, we have to start with the younger generation. That’s exactly why I chose this spot. The future is onchain, and it begins with them." thank you so much to @iamcharis for this high-quality submission and also shoutout @johnnybravo01, @julex, and @coolhat for uploading their picks I will be tipping all claim submitters an additional 5️⃣5️⃣5️⃣ DEGEN 🎩 https://poidh.xyz/base/bounty/486
fyi @iamcharis because this was an "open" bounty with multiple contributors to the pot it will take 48 hours before the funds are claimable https://paragraph.com/@poidh/poidh-open-multiplayer-bounties-explained but after that 48 hours is done you can hit the "resolve vote" button on the web app page and that will send the funds (-2.5% fee) directly to your wallet
Noted! I can’t find the resolve vote button tho, or is it after the 48hours that the button will be visible?
only visible after 48 hours! useless till then so we don't display it
@iamcharis you did itt 😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍😍
Yessss! Thanks Queen!😍💜
Thank you!😃🔥💜
congratulations dear very well deserved 👏
Thank you!💜
Thank you
It's like nobody in this thread has heard of the massive public goods ecosystem and all the experimentation going on around this idea of "voluntary taxes". But yes, very promising hypothesis that if we align incentives with transparent systems we can actually create an environment where people enjoy funding things for improving their existence without monetary rewards for doing so.
oh I'm aware of the experiments going on in this space, I'm just generally skeptical of most of them because the pooling and deployment of funds tends to be centralized when you boil it down it's what drove me to build my /poidh crowdfunding "open bounty" mechanism, would love to hear your thoughts on it! https://paragraph.com/@poidh/poidh-open-multiplayer-bounties-explained
Yeah I love what you're doing! It's experiments all the way down! I think there will be hundreds of innovations like yours that help move this hypothesis forward. I was just scoffing at all the naysayers replyguying your post 😂 people are so stuck in the politics rut that they can't even see daylight anymore. I also agree that most of the public goods experiments right now are not hitting the mark. But they are all experimenting with the same hypothesis you are! I think most ppl just don't really get it yet that public goods = taxes. They're solving for the same problem. We solve public goods and we don't need mandatory taxes anymore. This is hands down the biggest application of Blockchain technology. Largest TAM possible. Nothing could be more important! So keep up the good work!
ahh love to hear it! we definitely are aligned then, I was talking with @bayardo.eth yesterday about how most people see "finance" as the primary use case for crypto whereas I see the general malaise around the effectiveness of governments as the true market we can attack people want to help their communities, they want to see action, and they're frustrated by their inability to do so if we can make fun tools that improve local communities better than governments can, we can win over the general population
most of us are well aware, we just consider those experiments largely failures thus far
Who's "us" lol. I was just ragging on all the responses in that thread as if it was some dead-on-arrival idea that's already been settled. It's a complex nut to crack, for sure. I have a lot of opinions about why current systems aren't working! But I don't think it's actually that hot of a take considering there's an entire ecosystem founded on the exact principle that ppl will voluntarily pay taxes if they trust how they are being used. I wonder how many ppl even actually grok that public goods=taxes?
not sure how you can argue that e.g. the OP retro public good model is anything resembling a voluntary tax. not sure even what I’d call it but whatever it is, it’s perverse and largely ineffective.
taxes don't need to be voluntary - they just need to be transparent and visibly used to improve something people care about ... and also they should be paid differently by people in different stages of their economic lives and societal hierarchy But it's a big topic with many implications, which boils down to facts that Europe and the US both have politicians with zero vision and zero courage to fight for what's best long term for the nations - "stuff my pockets" or "keep my job" is the mantra - so we need to wait for yet another generation
Yeah I agree with this. I think the voluntary part is a loaded term. My view of voluntary is having the ability to choose how and what to spend your taxes on. If you don't believe in a particular action you shouldn't be forced to fund it. But this is only possible if you have the option of choosing to fund an alternative solution to the problem. You can't just sit back and say "I'm not supporting anything". Step one: identify problem space Step two: source potential solutions Step three: enable ppl to put skin in the game by supporting the solution they believe in the most Right now the current "taxes" system does none of these things, and that's what "voluntary" taxes would look like to me. Maybe a better term is "participatory taxes".
if only there was a way for the person who reported this to put money up for grabs for the fix and for other neighbors to chip in funds to get it done
and for all of them to confirm in a decentralized way that the job got done (without any single person controlling the pooled funds) if only
So would it be claimable by a contractor? Who approves the work? QC ? I like it.
this is the design for poidh! https://paragraph.com/@poidh/poidh-open-multiplayer-bounties-explained tl;dr bounty creator is the one who triggers a contractors claim to be voted on by contributors if contributors approve the claim (votes weighted by their contribution amount) the money is paid out if they deny it, they get their money back
yo NYC casters wanna confirm something for me? https://poidh.xyz/arbitrum/bounty/90
cc @garrett @jachian @serendipity
@m-j-r
@edmundedgar.eth how do we feel about this one?
nice
will be confirmed via a 48 hour fully onchain voting period shortly 🤝 legit micro DAO for specific actions appreciate your providing the idea for this one
Carve it on a blackstone and glue it there
Yes
this warms my heart new people getting their first poidh win money sent right to their wallet, no strings attached and the bounty creator getting a 1/1 NFT to commemorate the occasion it was my dream project for so long and now it just works
warms my little heart every time
in poidh we get bullish as well, thanks kenny!❤️
Poidh is very interesting in its system, it makes it easy for users on farcaster to do bounty rewards 🥰✨
would love to have you try making your own bounty sometime! even if you do a small bounty, make it "open" and I will add more funds on top to make sure someone does it 🤝
In other words, will you add to the rewards I offer to those who participate in the bounty I create ?
Wow this is amazing 😍
have 2️⃣2️⃣2️⃣2️⃣ DEGEN to tip out today going to give it to 1️⃣ person who makes a Degen Chain poidh bounty + quote casts this post to share the bounty URL in the next 3️⃣ hours most creative bounty wins 🏆 🎩 create yours via 👇 https://poidh.xyz/degen
can you help me with this? sir kenny
don't type in $DEGEN, that field is only for numbers
oh i'm very sorry, this is my first time making a bounty on POIDH so dumb lol
@jvaleska.eth @mariabazooka
smol test bounty if anyone wants to help me out 💙 https://poidh.xyz/base/bounty/386
https://warpcast.com/kenny/0x35655111
Helping 🫡
Guess it’s closed already. Cant see the options to join which I see in the other one. Or a testresult :) maybe it’s just me
ahh yes sorry I just wrapped that test one up here's a new one just for you to try! https://poidh.xyz/base/bounty/387
Thanks. That’s nice. Generated this poidh with my old basednames frame and uploaded that. It’s an old fully onchain word art collection usually. Worked smooth. Just the image cropped away a lil. Also received a bounty 🫂
Tested!
ty ty!
done! 🙌🏻
thank you!