Bounty brainstorm

Bao plan to use bounties to help develop the BAO universe. The maintainer galaxy is a small team and to meet the tight timescales they have given us to develop and test the core products, we want them to spend as much time on them as possible.

Bounties were tested as a way of outsourcing other important tasks. They were so successful that we want to use them regularly as a way of accelerating development of the BAO universe.

Lets use this thread to suggest things we would like built to improve the BAO ecosystem.

You can find information on the first round of bounties here, to help give you an idea of the kind of things we can accomplish https://discord.com/channels/784449645157285898/785525977949405194/826541467270643763

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Meme gallery page (meeting the 20 character post requirement).

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COMPOUNDING LOCKED PNDA AND BAO

also posted in the main brainstorm thread before I saw this thread*

I think it would be a great idea to implement some sort of compounding mechanism that will automatically compound the locked PNDA and BAO rewards. The locked rewards will stay locked even during compounding. Maybe a 1:1 mint to another token that can’t be withdrawn or sold but only used to restake on the platform. This should be done with single sided staking to avoid impermenant lose. Might be a good idea to make this fully automated to efficiency and cost savings. The rewards farmed from this should be subject to a locked up at the same rate or perhaps a portion should go towards a burn lottery to further decrease inflation. Please share your thoughts

Great idea about compounding something needs to be implemented for the long term direction of Bao if it’s tokens that make one persons vote count more then the others we need a way to make it so even those who might not have the financial security or excess to afford more power behind their votes to be able to acquire more Bao in the long run to still make their votes count. In my opinion it’ll keep the ecosystem balanced.

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I would like to see BAO in Fantom network.

It has lots of potential, FTM is super fast and cheap, the first DAG smart contract platform, EVM compatible → you can make transactions using Metamask and the network is becoming more popular.

I would also like to see a more sophisticated site, people are used to Sushi-clones, I don’t think the total layout idea SHOULD change, but at least make it more appealing and different.

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Ok - so this is a joint technical / knowledge piece, but how about someone creates a fully-fledged “Everything you need to know about farming BAO / PNDA” guide?

This would include - in a super visually appealing form:

  • the key requirements to “farm” BAO / PNDA;
  • the key fees and penalties that you need to be aware of;
  • a process guide showing how to (1) bridge assets (where required), (2) convert them to whatever you wish to farm, (3) pool them, and (4) stake them;
  • an explanation of impermanent loss and how it works.

This is all simple stuff, but if it could be set out almost in a “questionnaire” / knowledge tree way, you could have it so that users select the particular assets they’re looking to farm, the particular chain they’re currently on and where they want to farm, and deliver a tailored guide.

I’m not sure how difficult this would be to accomplish, but as part of this, you could draw on their asset choices for farming and automatically give a representation of the likely IL based upon a previous period of time (say - over the last 1 month or so).

For example - say Bobby has 2 ETH on Ethereum, and wants to go into the PNDA / ETH pool on PNDA. He’d answer a few questions and confirm that:

  • he wishes to use his ETH to farm;
  • he wants to farm in the PNDA / ETH pool.

The guide would then spit out:

  • how to move ETH to BSC;
  • how to convert half his ETH to PNDA;
  • how to pool ETH / PNDA;
  • how to stake that LP in the PNDA/ETH pool;
  • an idea of the IL on that pool - based on historic values for the relevant assets over the last two months;
  • an overview of the fees and penalties that will apply as he pools his tokens, and when he unstakes etc; and
  • perhaps some “Next Steps” points around their options regarding their rewards: for example, noting that 95% are locked and 5% are immediately available upon claim, and that 5% can be compounded, or held in their wallet, or converted, or (in future) Robo can be used to automatically compound etc etc etc.

So what’s the benefit of all of this?

  • whilst we can’t give financial advice, people are equipped with the knowledge to get involved in BAO / PNDA and are given a useful overview of the whole process;

  • this in turn reduces the amount of questions on the Discord, and gives community members some breathing room to deal with more difficult questions; and

  • the tool will make the process for farming assets SUPER EASY to understand - this will be useful for anyone who wants to farm their crypto and in turn, will draw attention from people who might otherwise seek to use another farming protocol (across all chains); and

  • all of this draws attention to BAO, PNDA and whatever chain we move to next, which acts as a great marketing initiative, whilst increasing engagement with BAO and ultimately allowing the team to collect as much data as is possible to inform the creation of synths going forward.

It’d be a lot of work to set up initially, I imagine (and I don’t have the dev knowledge to do it!), but once set up, it’d just need to be updated periodically with any new information.

Thoughts?

Edit: It’s probably also worth noting that much of the base information that would be included in the system has already been written in the FAQs etc. It’d just be a case of designing a suitably clear questionnaire system that captures all of this in the right place.

Some bits of learning / knowledge might be integrated into the questionnaire itself, rather than the answers. For example, when asking the user what chain they wish to farm on, you might provide a drop-down / pull-out information box which goes into the potential pros / cons of the relevant chain and / or the fees and penalties associated with it.

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FTM network is going to be a good one. Great call!