[Proposal] DeVault Faucet Portal

* Title: DeVault Faucet Portal (Development Fund)
* Total Amnt: 500,000 DVT
* Author: JSKitty
* Receiver: JSKitty
* Address: devault:qp5yfjs3pgmyxjpad432ek9gh7jgc4k5yyqv3y9zjh
* Created: 28th August 2019
* Status: Draft

This is a proposal aimed to fully fund the development and maintenance of a Dedicated DeVault Faucet Portal website, a gamified portal that distributes DVT for free based on certain actions.
The ‘gamified’ part comes in with social-actions, such as sharing DeVault media via platforms like Twitter and Reddit, earning extra DeVault for potentially helping onboard more members into the DeVault community.

This aims to distribute DVT fairly, and help encourage members of the community to reach out to their friends and introduce them into the community, hopefully, encouraging a domino effect of user onboarding and community growth, and giving anybody a chance to own a small amount of DVT and participate within the ecosystem of Voting and ColdReward-powered hodling.

Recently the idea of a dedicated faucet popped up within the community, as exchange-supplied faucets are generally heavily botted, underperforming, and don’t encourage users to visit our community and participate. This system will encourage productive contributions for DVT in return, instead of simply dashing out DVT to the world “for the lulz”.

Project Details:
This portal will have a “standard” faucet, as expected, this will freely distribute very small amounts of DVT to users on an strict interval, protected by a custom captcha and some tricks to avoid “botting” and usage of multiple devices / networks to game the faucet.

Along with a regular faucet, will be “social actions”, such as tweeting about DeVault, or sharing via forums, or one-on-one onboarding of friends into the community. These actions will pay higher than the regular faucet, encouraging productive contributions instead of rewarding “leech” behaviour as the regular faucet generally does.

Payouts will be entirely automated, and will adjust to the amount of funding within the internal wallet at a set percentage per-task, I would like to avoid adjusting payouts based on USD or BTC prices, as to help remove the mindset of “profiting” as soon as someone receives DVT from the faucet.

Every faucet payment will be made on-chain upon collection or action-completion, and users will not have to register accounts. If traffic gets extremely high, this may need to change.

The development costs presented in the proposal are one-time, purely for the creation of the system, both the Frontend and the Backend of the portal are included.
Maintenance costs include all additional future updates and uniqueness of the platform in favor of DeVault’s ecosystem, and will repeat once every 4 months.

A small breakdown:

  • Development: 400,000 DVT (One-time)
  • Maintenance: 100,000 DVT (Once every 4 months, including the initial proposal)

*The “Maintenance” portion of the platform will be re-adjusted every 4 months to equate to $100 (USD) worth of DVT at the time of their respective proposals. Excluding this initial proposal, as a sort of “starter discount”, and because I really like round-looking numbers.

Included with “Maintenance” funding: I will make the portal unique to DeVault, meaning I will not re-sell, rent or otherwise distribute the platform’s code to external projects or cryptocurrencies. Essentially a “No-compete clause”, but based on Good Faith of me and my work.

All proceeds from the proposal will go to my personal address, written at the top of this document.

The faucet itself will be funded initially by me, this funding is also excluded from the proposal. I will be adding an initial 25k DVT into the faucet, coming from the discord bot’s balance, and a public donation address will be visible on every page of the faucet.

During a normal scenario, I could probably get a very basic version of this faucet online within a week of the proposal passing. But I start a long 500-ish mile journey on Friday (30th August), so this may delay development a bit.
I can guarentee a public and usable state of the portal within 1 month of the proposal passing, and past then, many consistent updates to keep the portal fresh with new activities.

Thanks for reading my proposal! :heart: :cat2:


Wonderful idea all around.

Two questions:

Open source?

Whether opensource or not, any sort of non forking clause for first few months?

1 Like

Glad you bought that up actually, never thought about it.
Generally everything I build is “closed-source” unless otherwise specified. I don’t have any exact plans on open-sourcing it, especially the backend.

On the last one~ I don’t quite understand it, you mean a “No-compete clause”?

Just would prefer to have an open stance stated so everyone knows whats coming either way.

And yea, say this gets built, whats to stop 4 other coins from renting it out right away? ;]

Gotcha, in my case I wouldn’t personally have any issues duplicating it for other coins. As most of what I build is done in the “freelance-style” of having no (or very minimal) strings attached.
Otherwise, the work likely won’t pay itself, and won’t be worthwhile building. I would need to raise the funding for open-sourcing the project, or keeping the project strictly for DeVault, before I’d find it worthwhile to work on.

Would there be a way to forego duplicating it for the first few months so the impact isn’t eroded on the DVT end?

1 Like

I suppose It could be locked for DVT-only usage until 2020. May raise the proposal up from 400,000 to 500,000 to compensate, but otherwise I’m fine keeping this project entirely for DeVault for that time, possibly creating a small “redeem” proposal every 4 months or so, depending on the success of the project anyway.

That would be great just because while we’re in favor of helping everyone have a more impactful community we seem to have a bit of leakage on that end at for ourselves in particular. I think a short period of time where not everyone can access this would help us alot.

1 Like

Okie dokies! Sounds good, productive convo, will update the proposal with some new specs shortly :cat2:

Sounds good. I haven’t been able to keep up with all of the Discord discussion but was there any commitment to funding the faucet itself or a companion proposal for such planned by anyone?
I think that’s an important pre-requisite for this

1 Like

The faucet will initially be funded by me, and over time I’ll continually donate from the discord bot’s funding as it gradually increases over time, aside from that, a handful of contributors have said they’d be willing to donate to the faucet.
I’ll build the system to be a bit scarce at first, to avoid running completely dry and balance out work:reward ratios for anybody doing social activites for faucet rewards.
I’d rather not put strain on the budget by consistently asking for faucet-only funding, if possible, I’d rather prefer to run it on donations for as long as it’s sustainable.

OK. So I don’t really see any commitment then. Some folks agreed to fund a proposal with BTC in exchange for DVT but then backed out when the DVT price fell. So I’m feeling the same may happen here.
Also, what benefit does a faucet give over bounties which are more interactive and ensure some type of contribution and possible engagement with the team?

I could prolly designate atleast 20k a month from the marketing budget leftovers as well.

I would think the more ways of distributing coins in exchange for specific metrics the better, the main thing I like about this proposal is the ability to have the faucet amounts linked to either generic anyone faucet or the sharing of a tweet for example instead, such as https://birds.bitcoin.com/ sort of does

The “commitment” part of development is the 4-month cycle proposal I mentioned. Pegged to $100 in DVT every 4 months, I’m happy with that long term since the first month or two is development, most of the rest is purely maintenance and small updates.
The point of this being a “portal” was so that users had the option to choose out of a bunch of “call to action” buttons, gives them something useful to do, sharing the word of DVT across social media, stuff that does potentially result in more retention + contributions + community growth, instead of giving away DVT for nothing in return to the general community.

Ok. Sorry I missed that. Thanks