Note: the below is best viewed in google docs link but copy is pasted below for convenience.
Link to draft bounty board is here
Abstract
Bounties are an effective way for DAOs to complete specific tasks that meet the objectives of the DAO while also engaging community members. This document takes inspiration from tried-and-tested systems from all kinds of DAOs, including but not limited to: Rabbithole.gg, Bankless DAO, Forefront DAO, Shapeshift DAO, Cabin DAO, NFT Community Projects, POAP, Chestr, and an outside view of FWB.
Taken into account, this document is meant to be an evolution and improvement upon the current bounty system. This proposed bounty system is not meant to be an end point; rather the hope is for the DAO to continue to iterate and improve once this is set up.
Motivation
Bounties have been used successfully but somewhat inconsistently by SquiggleDAO. This new document is meant to better formalize the process and make it consistent with the revised organizational structure.
Success Conditions
- New process is 100% implemented by the DAO
- All bounties being posted in adherence with the new system
- Each squad posting at least one bounty by end of season zero
- At least one successfully completed bounty by end of season zero
- Engagement with community: at least one bounty claimed by someone who is not actively involved in the DAO
Launch Details
New process to be launched by February 15th. The process will be re-evaluated at end of season zero, with recommended revisions to the process based upon lessons learned.
Specification
What is a bounty?
A bounty is a specific task that furthers the DAO goals and is rewarded with $SQUIG. A bounty is typically completed:
- By one person [rather than a team]
- In hours or days [rather than in weeks or months]
How is a bounty created in the new system?
Anyone SquiggleDAO member can propose a bounty. A proposed bounty must include:
- Project description
- Considerations
- Success conditions
- Proposed $SQUIG reward
The bounty proposer becomes the Bounty Lead. The proposed bounty must be approved by one of the following people: instigator, a squad lead, bookkeeper or technical advisor.
Where do approved bounties get posted?
Once approved, the Bounty Lead will post in the #bounties channel in Discord for open discussion. The Bounty Lead will also post the bounty in the shared Bounty Sheet
How is the $SQUIG value determined?
The person approving the bounty will confer with the instigator, squad leads, bookkeeper and technical advisor on the bounty reward.
Determining the size of bounty reward will require some subjective assessment by the approvers. However, the below guidelines help them come to consensus.
Each bounty should be classified by level of impact, amount of skills needed, and time required. Add up each of the associated boxes to get a range.
Impact
Skillset Needed
Time Required
Short-term (<3 months)
0-10 $SQUIG
Small (almost anyone can do it)
0-10 $SQUIG
Small - 1-5 hours
0-10 $SQUIG
Medium term (3-6 months)
10-50 $SQUIG
Medium - requires some specialized skills but many people can complete
10-50 $SQUIG
Medium - 5-10 hours
10-50 $SQUIG
Long-term (6+ months)
75+ $SQUIG
High - requires very specialized and specific skills (e.g., coding)
75+ $SQUIG
Large - 10+ hours
75+ $SQUIG
For example:
A project that has short term impact (0-10 $SQUIG), medium skillset required (10-50 $SQUIG), and medium time required (10-50 $SQUIG) should be considered for a reward in the range of 20-110 $SQUIG.
How is a bounty claimed?
Anyone can claim a bounty by going into the shared Bounty Sheet and claiming. Once claimed, that person notifies the Bounty Lead via Discord.
How is a bounty considered complete?
The Bounty Hunter will notify the Bounty Lead once the project is complete. The Bounty Lead will determine if the success conditions were met. Once approved, $SQUIG will be paid to the Bounty Hunter via the Treasury Squad.
What happens if a bounty isn't delivered?
If Bounty Lead determines that a bounty isn’t being delivered, it is in their sole discretion to remove the Bounty Hunter from the project and open the bounty again for a new Bounty Hunter.
Can there be ongoing bounties?
Yes! For example, if the Marketing Squad has an ongoing bounty for Squiggle memes, they can create an open-ended bounty claimable by all.
