The writer is DAO Maker of BM, translated by BlockMania.
Just a year ago, bounty activity (Bounty campaigns) seems to encrypt an integral part of the currency industry. Now, however, most people agree that a bear market has exposed major problems associated with the prize money. This article will focus on why the bounty activity is one important way to project operations, as well as reward activities are often the causes of invalidity. Articles also be analyzed from the perspective of "bounty hunter" in.
Bull successfully used to cover up the bonus issue
In the early stages of a bull market, the project can often be easily done by initiating their hardtop huge bounty of activities and airdrop, because at that time, the industry remains from the earliest supporters, many of them from people has been tremendous increase in the BTC He received a massive income.
Once the last phase of the bull market, continue to adhere to the earlier holder of BTC, but the new players in order to obtain BTC year growth trend, began 1CO interest. They believe Token value can be measured by "usage" and therefore associated with the point of view of potential projects, followers and subscribers. It was during this time to create a golden age bounty activities, monthly bounty seven figures. Encryption influx of investors from the industry is judged according to these numbers (in fact, can easily be forged) project. The impact shout single navy is much greater than it is now, so some projects by allowing hundreds or even thousands of people make false active in the community project, so that investors are convinced that this is a good project.
Therefore, to build prosperity through false FOMO (fear of missiong out, "afraid to miss panic") has become so easy that some are willing to set up projects worth several hundred thousand dollars bounty pool. In addition, because even if this period is the worst 1CO project can harvest big ticket investors (and therefore also brought next to zero), project founder ignoring the responsibility of investors willing to return most of the Token as bounty dissipated.
Bull market frenzy to cover the funding, but also created an unreasonable Token distribution and inexperienced investors.
In fact, the bounty is just a broken company to the center of value creation and rough physical and chemical form, these activities quickly undermine the rationality of decentralized projects, since many projects just to establish a false, ephemeral community.
After the bull market began falling apart bounty
Once novice investors lost their wealth out of the encryption monetary investment, few investors and early surviving veteran of criticism that led to the token supply diluted practices. Supply token reward a few percentage points to create false prosperity may be the beginning of the most direct way, but to those who are not interested in the project will only lead to a large number of tokens tokens are sold a lot, but usually these people unable to deliver high-quality output. For the bounty hunters, the bull market provides a brief scam again and again, so that they can participate in every game bounty activities and the resulting sell-off tokens as soon as possible.
According to the analysis of Topkie.io, a typical bounty hunter at all times while participating in more than 10+ activities. Quality and quantity are mutually exclusive, therefore, as expected, purely for digital bounty activity result is meaningless. Therefore, the bounty system was doomed from the start: although its original intention was to create a valuable community, to inspire people to go to the spiritual center of the work for the new project, but the terms of bounty hunters led " very short-term support "rather than project expected long-term sustainability and binding relationship.
At the same time the number of bounty hunters to participate in activities (Tokpie.io)
As the above figures stated, while a large number of bounty hunters participated in more than 100 activities. These bounty hunters may be aware of the bounty activities are only short-lived, so to take full advantage of this opportunity to profit.
This counter-productive forms of work of the center to face a problem: people do not have a vested interest. In the traditional value of the center of the creative process, such as after being hired, employees who want the company to succeed, because they only closely related to the success of a company full-time, with the company's livelihood.
However, the reward is a chance though transitory similar contracts, and almost no monitoring of results, thus contributing to a decentralized work of fantasy, but in fact it's just a loose generation engine. The existence of decentralized work in the rapidly growing field of "odd jobs economy" but with such traditional trade union rigorous analysis of flexible work product, and:
1) running on expensive centralized platform, which makes them money for startups encryption is not feasible
2) does not involve the payment have not yet been cast tokens
Bounty is a problem-solving tradition of decentralized work odd jobs and economic way. However, it failed.
This is a broken system
It is important to recognize the bounty hunter is not the culprit. Those who earn tens of millions from the project sponsor 1CO need them to achieve a false prosperity, bounty hunter just take advantage of this opportunity.
In fact, the culprit is this twisted system, because of its design and build a project to create value, actively discussions around the development community has nothing.
After the beginning of 2018, the bonus not worth it
According to the analysis of Topkie.io, from July 2018 to June 2019. Bounty hunter average income is $ 90 a month. Due to the poor performance of project activities using the bounty of promises rewards tend to depreciate 90%, which means a $ 900 reward hope people will eventually get $ 90.
Note: The study did not include projects that ultimately failed on the exchange, if these are taken into account, the devaluation of the real income is much greater than 90%.
Bounty Hunter income (topki .io) Realized
Correct posture to the center of value creation and work
Rare opportunity of this era is that people do not need to join the team full-time, you can think that one is on the rise, subvert the traditional industry startups to create value. Such opportunities should be open only to active supporter (ie Hodlers).
Hodlers have a vested interest, the unique skills of these community members can bring high quality to create value for the project, not just vanity numbers. In order to organize this value to hodler center of creation, DAO Maker has developed a "Social Mining", which is a pluggable software solution that allows hodlers reward projects that contribute to the ecosystem, while retaining block chain development of decentralized attributes and openness.
This system will typically passive community become active hodler, thereby driving the growth of the project. Social Mining allows users to tokens as proof of their vested interests, in order to provide value-added projects, and then to verify each other's work through their personal dashboard. The more a user inputs Stake, he / she obtained "verification capabilities" (validation power) the greater because more people put more motivated to reward the best work. So this also adds a new feature for the token, increase its use and potential. Validation capabilities also include other measures, such as "produce high-quality work of sustainability", built with multi-dimensional "ability to verify" can motivate the most talented people in the community to devote more time for the project to bring the core increase.
Of course, before starting work on the platform, need to meet a minimum requirement of Stake (different amounts, determined by each project). Importantly, the longer the time a user holds his stake greater the weight, so people get more long-term holders of verification capabilities. This sets up an anti incentives to sell, but also reward those small, scattered users have long-term interest in the development of the project, which really captures the spirit of democratization block chain.
Therefore, the ecosystem has become the growth engine of the project, is committed to become a form of personal growth DAO. The value of all contributions to the platform participants will be judged by the other participants, everyone is for a common goal and work to make the ecosystem more valuable.
Use Case: A User X in the local store promotional items, as a result of the promotion, the store will begin accepting X token item. He will upload their own achievements to the platform, other users will evaluate the ecosystem derive much value by voting.
