Bounties

Bounties represent an exchange between two parties - a reward for a task completed.

Web3 bounties are very similar, involving specialized work that typically gets paid in the form of tokens. They represent excellent choices for blockchain projects - DAOs and DeFi - and a great opportunity for professionals.

While blockchain experts and developers are still scarce, bounties emerge as a way to recognize them in a manner similar to the freelancing model.

Bounty program

Using bounties brings a host of benefits and advantages for organizations and Web3 projects. Some of the more important ones are:

Find and attract talent

A bounty program will attract talent from all over the world. The bounties represent a place for qualified professionals to be on the Web3 frontline earning tokens for their work. In other words, they bring talent to the project's complex demands without hiring new people.

Reduce costs

Not only do bounties attract talent, they also help save money in many different ways. Bounty hunters cost less than full employees. A bug bounty program is less expensive than full test-teams or consultants. Security costs also go down by having bounties to review smart contracts.

Constant testing and reporting

Bounty programs designed to encourage developers to run tests open the possibility of them improving the quality of the product and service on a regular basis. Bounties offered for regular input reduce the risk of high-impact functional bugs and lower the damage such situations might cause. Regular tests and reports lead to vulnerabilities being fixed and a lower risk to be affected by malicious individuals.

Build the YFD brand and reputation

A bounty program can be the starting point for a blockchain project to gain community and credibility. DAOs can gain investors and VCs. A good program can also offer professionals the right opportunity to start building their reputation and experience.

Rewards

Finishing a bounty usually means getting a reward. Rewards are, most of the times, paid in native tokens, stablecoins, ERC-20 tokens or ETH. It is up to each project to figure out the best way to pay out the rewards.

Another benefit of completing tasks and bounties is earning reputation. Because data stored on the blockchain is unchangeable, you can build your reputation and showcase recommendations without worrying about scams.

Tutorial

Follow the steps below to start building with YFD DAO.

Stage 1

1. Create a DeWork profile here by clicking connect in the top right corner.

2. Follow the on-screen instructions.

3. Access Y-Foundry DeWork page.

Stage 2

1. In the Bounties section, click the Bounties Board

2. 
3. The To Do list will list active bounties

4. 

Step 3

1. Chose a bounty that suits you and check its description.

2. You can discus requirements with the community.

3. When you are ready, submit a proposal.

4. Discus your proposal with the YFD crucible.

5. Reach an agreement.