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

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.

1. 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.
2. Lack of Interest: Introduce daily participation incentives and marketing campaigns to attract users. Ex. 10 DED per day for logging in.
3. 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.
4. 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)

1. Registered Clients and Bounty Hunters
2. Recurring Website Visits
3. Number of Bounties Created and Completed
4. Engagement on Social Channels (Reddit, Telegram)
5. Overall Growth in Community Participation and Sentiment