Vote for the Bounty Contest

Vote for the Bounty Contest

Introduction

In the spirit of gradual decentralisation and the progressive inclusion of the Polygon Community in the operations normally administered by the Polygon DAO team, we are pleased to announce our new decentralized governance initiative.

We’re excited to announce the Polygon DAO Bounty Competition, a competition that will determine the recipient of a range of financial/non-financial support from Polygon DAO, with the winner decided by the community.

The Polygon community will be able to receive claims via Polygon ID attesting to their Polygon DAO membership. Claims will then be used as a basis to vote for the project they believe is the best, decentralizing the process that would normally be conducted by the Polygon DAO Grants Team.

Project entries will be made to the Polygon DAO Forum so that the community can have visibility in the shortlisting process (see a post you like? Be sure to leave a comment on the forum and let us know, the team will consider it!). Once the Polygon DAO Team has made a shortlist, the selected projects will then move on to the voting rounds.

Matchups for each round of voting will be selected at random. The project achieving the greatest number of votes in each bracket progresses to the next round. This process repeats until a winner is selected in the final round.

Submission Requirements

  • To be made in the ‘Polygon DAO Bounty Competition’ section of the Polygon Community Forum
  • Must contribute to the Polygon ecosystem in a clear way
  • The application is consistent with the submission format below
  • Projects cannot be completely underdeveloped. Founders need to have “skin in the game”
  • Projects cannot have previously been a beneficiary of Polygon DAO grants

Submission Format

Below is a template to guide the preparation of submission requests:

Overview

A brief overview of the project’s key features and ethos.

Cover Artwork

We strongly advise that submissions contain a graphical element that gives users an overview of the ‘topic’ or ‘theme’ of the submission.

Project Description

Provide an overview of the project, including;

  • Purpose - What problem are you solving, or what is the basis for this idea
  • The benefit to the community
  • Current/projected users

Project Roadmap / Strategy

Outline the product roadmap with its accompanying strategy to deliver it to the market

Project Team Members

Provide a list of all members who will be working on the project

Project Socials

If there are pre-existing social media accounts, link them here.

Competition Format - Bracket-Based Competition

  • The competition will use a bracket-based tournament system to rank ‘Projects’ and determine a winner.
  • Entrants must submit their projects to the Polygon DAO team in the ‘Polygon DAO Bounty Competition’ category of the forum to be eligible for the shortlist of candidates for the voting rounds.
  • Polygon DAO members will vote on the winner of each head-to-head.

See an overview of the bracket-based competition format below:

Campaign Timeline

Week 1 - 4

Announcement on day 1, followed by a 4-week window to allow project teams to prepare their submissions before the deadline on 22 July 2022.

Week 5

Following the submission deadline, the Polygon DAO team will have 7 days to shortlist the final 16 competitors that will make it to the knockout stages.

Week 6

The first two voting rounds will take place in week 6, with the semi-final contestants being announced at the end of the week.

Week 7

The semi-final will take place in week 7, with the final contestants being announced at the end of the week.

Week 8

The final voting round will take place in week 8, and the winner announced.

Prize Pool

The prize pool will consist of catered access to Polygon support initiatives, potentially including; grants (for grants, KYC/KYB is required), Polygon Village vouchers, accelerator support and opportunities to gain visibility in the ecosystem.

More details will be announced soon. Be sure to keep an eye on the Polygon DAO forum.

Conclusion

We look forward to seeing the amazing ideas produced by the Polygon community as we move to decentralize the decision-making process of our existing initiatives.

May the best project prevail!

Polygon DAO Team

8 Likes

Hey @Rooky ,

Thanks for authoring this wonderful proposal. You have done a heavy lift. Proposals like these are not less than framing constitution of a newly formed nation.

So, does this means only one winner takes it all and runner-ups get nothing ? Are runner-ups entitled to consolation prizes ?

Does this means Polygon village or any such initiatives will get merged with new bounties program going forward ? Or each will work independently.

Does this includes projects who did not receive monetary grants as well ? Many received non-monetary grants.

Overall, it’s a very good step towards decentralisation. Kudos to the team.

1 Like

Thanks @Derbygold.eth - had the exact same questions.

And want to second the thank you from DerbyG, @Rooky - ya’ll put a lot into this and it’s appreciated!

2 Likes

True meaning of decentralization is worked upon by Polygon DAO, kudos to the team. Engaging the community in decision making and allowing transparency and feedback is the goal.

Can you also shed some light on, is the grant program moving to Bounty based competition or will this be one initiative of the Polygon DAO grant ecosystem?

If this is one part of the Polygon DAO grant ecosystem, it will be great to highlight what are different engagement initiatives and how will they work together for builders and community.

Can the same project participate in multiple grant programs of the DAO simultaneously?

Keep up the good work. Cheers !!!

5 Likes

Appreciate your kind words! Derbygold.eth, bubli.eth1, AustinG_FATExDAO

To answer your question regarding the prize pool - there will indeed be consolation prizes for 2nd & 3rd place. These are to be announced soon.

This is essentially a one-off event so it doesn’t mean this will be merged with the bounty process going forward. However, this could be considered based on the success of the programme.

3 Likes

This is hands-down my fav Polygon tool and making people experience is just amazing, Thanks @Rooky for this.

5 Likes