Hey Genesis Community!
TL;DR The contribution reward extended + competition contract is ready. a proposal has been made in the Scheme registrar
What started from the ETHIndia feedback, developed into a first design iteration is now ready for Genesis. This scheme will allow a new form of collaboration and decision making with an additional step to the Yes/No proposal process in the form of a Best N submissions contract.
In addition to the contribution reward parameters (title, description, tags, rewards) These are the parameters to include when submitting a competition proposal.
Number of winners (eg. 4)
Distribution to those winners (eg, 30,30,20,20 or 25,25,25,25, has to equal 100)
Number of times a rep holder can vote (e.g 3)
Submission start time
Submission End time
Voting time start (Which includes a Rep snapshot)
We will run an example competition as soon as this proposal is approved so we can all experience with this.
From an architecture point of view this works like Contribution reward with an additional step. the beneficiary of the contribution reward is the “Rewarder” in this case the competition contract. Once a competition resolves the rewarder distributes the funds to the winners.
This also simplifies the future development of new voting contracts that use the rewarder, for example: escrow where the beneficiary receives 50% of the funds upon DAO approval and the other 50% once (x)% of the DAO votes on it.
This can also be used to enforce the Genesis budgeting managment. Locking the DAO funds every month in competitions according to their distribution, essentially creating mini-DAOs.
I believe this contract will overtake the regular decision making mechanism and bring in a new way to cooperate. Since submission and voting times are separate I expect to see DAO members building on each other’s submissions and collaborating together to create better ones.
For Genesis the possibilities are endless: Social consensus competitions, tournaments, best ideas, and bounty competitions. I can’t wait to see what we’re community will decide to do with this.
We’re underway to design the competition 2.0, which will incorporate Holographic consensus in the to sort submissions, plus a few more improvements. I’m sure the biggest lessons for contract will come from this community.
Big big big big thanks to Oren, Jelle, Doug, Alex, Dana and Ben who are the ones who actually made this possible, long hours, bugs, issues, and problems, and a whole big holiday in the middle but we made it!
Feel free to give feedback, complain, and say what do you think should change in the design of this competition/scheme.