Proposal for DED Bounties: Revitalizing Community Engagement
DED Bounties
Objective: To create a system that encourages community engagement and growth through a bounty reward system. Inspired by the old western bounty system and the already established polkadot bounty system, clients offer rewards, and hunters complete tasks to claim these rewards, paid in DED token. DED will become a reward token for community contributions that will foster a feeling of appreciation and ownership through participation.
Value Proposition
DED Bounties will provide a much-needed utility for the DED token, addressing its initial negative reception. By allowing community members to earn more DED through active participation rather than purchasing, we aim to grow interest and engagement within the community. This system will leverage the fact that everyone received DED and give them an opportunity to grow their holdings of that token - just because it’s easy and fun. Additionally, it incentivizes community-driven actions, fostering a more vibrant ecosystem supported by members who use their voices, likes, comments, their memes, their time and attention. These are not people who can contribute to conversation about smart contracts or analyzing cryptographic hashes but they are still important.
Goals and Milestones
Short-term Goals (0-3 months):
- Develop and Launch Website: Create an accessible online entry-point for DED Bounties.
- Milestone: Launch a functional website within the first month.
- Improve websites DA:
- Milestone: Increasing Domain authority
- Initial Bounty Listings: Attract at least 4 clients to post bounties on the platform.
- Milestone: Achieve this within the first 2 months.
- Milestone: 10 bounty clients within 3 months.
- Milestone: Use a bounty to boost a post with likes and comments
- Milestone: Use a bounty to get referral clients
- Community Onboarding: Register at least 50 active members participating as bounty hunters.
- Milestone: Reach this target within three months.
Medium-term Goals (3-6 months):
- Increase Bounty Variety: Aim to have a diverse range of bounties to cater to different interests and skills within the community.
- Milestone: Ensure at least 20 active bounties at any given time.
- Milestone: 25% of bounties made by clients
- Expand Membership: Grow the active user base to 100 members.
- Milestone: Achieve this by the end of six months.
- Produce Content: Have creators publish media mentioning DED
- Milestone: Use a bounty to request video creation
- Milestone: Use a bounty to create competitive memes
- Enhance Community Engagement: Achieve a consistent increase in recurring website visits and active participation in bounties.
- Milestone: Track and report monthly engagement metrics.
- Milestone: Month over month increase in traffic
Budget Breakdown
| Software Subscriptions | 7.53 DOT per month
|
| Website Registration and Setup | 90 DOT
|
| CPC Ads | 15.07 DOT per week
|
| Incentives and Payouts | 15.07 DOT per week
|
| Project Management and Development Time | 2081.18 DOT |
| Total Request | 3000 DOT |
Current Team: John Mullowney (John of the priests)
Experienced in front end web development, digital marketing, held a PR position, customer service, graphic design, programming (JS, python). Holds certification in digital analytics and has a background in market copywriting and advertising. Although not an expert in anything - the range of skills means they are able to carry the project until there is interest in joining.
Impact on the Community
DED Bounties will restore the reputation of the DED by aligning with its original slogan: "for the community by the community". This project aims to create a community that supports each other in a creative way and DED will act as a unit of exchange for that support. By showcasing the utility and engagement potential of the DED token, we hope to draw wider attention and participation in the Polkadot ecosystem.
Risk Management
The ability to earn even tiny amounts has the potential to attract the wrong crowd so there will need to be measures in place to narrow down interested parties with a heavy emphasis on the polkadot fanbase.
- Token Dumping: Implement a payout structure with a weekly release to discourage immediate selling. Payouts made during the week for the previous week will encourage continuous participation with the hope to increase the upcoming payout.
- Lack of Interest: Introduce daily participation incentives and marketing campaigns to attract users. Ex. 10 DED per day for logging in.
- Scams and Fraud: By using bounties to identify and report scams we encourage members to recognise a scam and reap a reward for taking action against it. Establishing a reputable website with high domain authority, and ensuring transparent operations as well as addressing concerns in a timely manner.
- Spam: Require usernames associated with addressed to prevent spam
Community Engagement
- Utilize Telegram, Reddit, and email newsletters to keep the community informed and engaged.
- Maintain transparency through blockchain transaction tracking and public spreadsheets for payouts.
- Encourage community feedback and suggestions to continuously improve the platform.
Metrics for Success (KPIs)
- Registered Clients and Bounty Hunters
- Recurring Website Visits
- Number of Bounties Created and Completed
- Engagement on Social Channels (Reddit, Telegram)
- Overall Growth in Community Participation and Sentiment
Comments (12)
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Aye (4)0.0 DOT
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Nay (77)0.0 DOT
I'm not sure we should be introducing any incentive to prop up this token, considering how pooly it has been implemented.
Memecoins (aka shitcoins) are bad enough. They're essentially a blip on the market of an ecosystem like Polkadot, and are completely insignificant as far as any major use case, user growth or enterprise adoption.
DEDcoin is all this and a 1000 times worse. A centralised piece of shitcoin, and a devious bank robbery heist, masterminded by Giotto di Fuckupi.
Sorry bud, but I do not buy into your assertion that " Polkadot was once dubbed the Ethereum killer, and DED carried the torch with #DOTisDED".
Also, if you understood the 'tech; you would know that. Polkadot is NOT an Ethereum killer. Ethereum will kill itself through atrophy as the blockchain industry matures into mass market web 3.0, exacerbated by exorbitant gas fees, failed transactions and unacceptable bottlenecks/response time as it tries to scale. It's already happening with Solana now.
Your proposal, says: **"We need to shift the conversation from price to utility". ** - Yet i'm not sure if you a track record in coding/developing or software implementation, and instead of nurturing a genuine idea for the application of this DED memecoin, you go on to propose further shitcoin - PEPEisDED, INUisDED, DOGEisDED. Why not just flood the AssetHub with more useless tokens? You are right on one point - the possibilities for creating shitcoin is endless.
But ultimately, my biggest grip is: you fail to address the outrageous tokenomics of DED. And i'm not even sure sudo (root access) has been removed from the liquidity pool. Any individual putting money into this LP will only be pumping Giotto's fat holdings. who could rug pull Any users supporting this DEDcoin will be his exit liquidity.
So this idea Never has a token's name been so fitting: Dot Is (truly) DED.
@AngelRicki Look I understand your perspective and I don't like shitcoins either so give me a chance to explain.
Furthermore, I'm new here so I'm not going to give you attitude.
First of all I don't like shitcoins but you can't deny the attention they get is part of the reason they exploded and exactly the reason a small group of DOT holders proposed the idea of making one for Polkadot. You can't deny the explosion in shitcoin related keywords.
Secondly, it seems you feel strongly about the whole situation and I did too, at this point I believe the best approach is to make the most of the situation. The situation is, DED did get amazing coverage a few months ago, we still have new DOT holders entering the chat asking about DED. We all received DED, let's make the most of it.
Thirdly, the Polkadot tech is amazing but you and others like you get lost in it, brickwalling yourself and the ecosystem by extension. I love the technology, I want to be a developer for the ecosystem but right now I see a very big need.
If this project even manages to create 1 consistent conversation about a polkadot memecoin it would have paid off.
Finally for your biggest grip, the beautiful thing about this project is it isn't affected by the tokenomics of DED. If the price of DED goes to complete 0 the nature of this project means it would not affect its operations. It would still be a valid way to engage the community because this project aims at the very nature of all human beings. It's not about technology, I never claimed it to uplift any technological aspect of polkadot and it doesn't need to in order for it to be an asset to the Polkadot ecosystem.
Now I don't want to go back and forth with you so I hope this helps you understand why I think this project is a good idea.
I believe in this community project, it will work to create a whole new stream of active members and provide a space for people new to crypto to enter the polkadot community in fun way that feels rewarding