vitelabs/bounties

Social Token Project (ViteClout)

Opened this issue · 5 comments

joelyangxyz commented

Vision

Inspired by BitClout, we envision a platform where creators can mint Vite-based social tokens (called Vuilder Fan Tokens, or VFT), and fans can purchase and sell such tokens. Creators can subsequently provide certain services to their fans. To ensure token pricing is sensitive to supply, transactions will price on a bonding curve. The platform will also allow creators to sync and display their twitter feeds.

 

Features

There are two roles in ViteClout: Vuilders and Fans.

General features:

  • g1. ViteClout maintains a database of the twitter accounts of Vuilders (e.g., http://twitter.com/ElemontCapital , http://twitter.com/1appleaday_vitc , http://www.twitter.com/vitetools, http://twitter.com/vitckript)

    • Vuilders is a list of active members of the Vite community (Vite Labs can provide this list)

  • g2. ViteClout reads and publicly displays all tweets from Vuilders, in a similar fashion as Twitter

  • g3. ViteClout shows a public dashboard:

    • g3a. Lookup historical transactions when given a Vuilder name or a Fan address (sort of like a block explorer table)

    • g3b. A “news flash” section that shows recent transaction (e.g., “vite_12345 just bought 4 John Smith tokens at an average price of 0.05 VITE”)

    • g3c. A table rank ordering tokens via various metrics (price, number of holders, number of tokens sold, etc)

 

A Vuilder can:

  • v1. Complete their profile information: Profile picture and short-description

  • v2. Each Vuilder can log into their ViteClout account with their Twitter account

  • v3. Each Vuilder, upon initial login, must bind their account with a Vite address

  • v4. Each Vuilder can hit a button and mint 1000 VFT tokens (one-time action)

    • These tokens are not the same types of tokens on the Vite chain, like VITE or VX. Instead, the accounting of these “tokens” will be stored in a table within a smart contract

  • v5. Each Vuilder has a public page where a Fan can buy/sell VFT tokens

  • v6. Said page above also shows the Vuilder’s syndicated tweets (see g2)

A Fan can:

  • f1. Navigate to a Vuilder’s public page and buy/sell VFT tokens according to a pre-determined bonding curve

    • Can only transact after logging in with ViteConnect

    • The bonding curve formula: Price (in $VITE) = 0.003 * (VFT Circulating Supply)2

      • For a purchase, VFT Circulating Supply means the circulating supply after the current transaction

      • For a sale, VFT Circulating Supply means the current circulating supply

    • For instance, say Vuilder Alice issues 1000 tokens (reserve). Fan Bob buys 1 token at 0.003 VITE. Then Fan Carl buys another token from the reserve, and pays 0.012 VITE. Then Fan Danielle buys yet three more tokens from the reserve, and pays 0.027, 0.048, 0.075 VITE respectively. Bob then decides to sell his 1 token, at 0.075 VITE. Then Fan Danielle decides to sell two tokens, at 0.048 and 0.027 VITE, respectively. This is captured in the below table.

  • f2. See their token balance and buy/sell history in a private dashboard

 

Action Price and Quantity VFT Circulating Supply used for calculation VFT Reserve VITE Reserve
Alice issues 1000 tokens NA 0 1000 0
Bob buys 1 token 1 @ 0.003 1 999 0.003
Carl buys 1 token 1 @ 0.012 2 998 0.015
Danielle buys 3 tokens 1 @ 0.027; 1 @ 0.048; 1 @ 0.075 3, 4, 5 995 0.165
Bob sells 1 token 1 @ 0.075 5 996 0.090
Danielle sells 2 tokens 1 @ 0.048; 1 @ 0.027 4, 3 998 0.015

 

Assignment

  • $4000 - Tier 1: implementing g1, g3a, v2, v3, v4, v5, f1

  • $6000 - Tier 2: Tier 1 + g3c + f2 + v1

  • $7000 - Tier 3: Tier 2 + g3b + g2 + v6

  • Note: For front-end, look at http://bitclout.com for inspiration

 

References

Social tokens and bonding curves are explained here: https://docs.bitclout.com/

Bitclout: http://bitclout.com

Rally (another social token platform): http://rally.io

Hive (not a social token platform, but enumerates crypto celebrities): https://hive.one/c/Bitcoin?page=1

 

Prize

  • $7000 in VITE 

 

Submission Requirements

  • A working frontend and backend is ideal, but partial submissions are possible depending on project scope and submitted code quality.

  • We will require a demo of the submission.

  • Submission must utilize Solidity++ and/or the Vite protocol (platforms based only on EVM and ERC-20 contracts do not qualify).

  • All submissions, including all code, must be open source for future use and reference by the community, and links to external documents must be provided in the Github repo submission.

 

Judging Criteria

  • The Vite team will run tests to make sure basic functions perform as required.

  • The difficulty/scope of the DeFi project chosen and completeness of the implementation.

  • The code submitted will be subjected to a review for extensibility, organization, proper documentation

 

Winner Announcement

  • After the hackathon we will announce the winner(s) when all demos have been reviewed and judge's scores tabulated.

 

Resources

 

Follow Vite on social media

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

This issue now has a funding of 7000.0 USD (6997.2 USD @ $1.0/USD) attached to it.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 2 weeks, 5 days ago.
Please review their action plans below:

1) ekazukii has started work.

Social token inspired by BitClout running on the Vite network

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 7000.0 USD (6989.50 USD @ $1.0/USD) has been submitted by:

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 7000.0 USD (6989.50 USD @ $1.0/USD) has been submitted by:

  1. @ekazukii

@ouivitejoel please take a look at the submitted work:

gitcoinbot commented

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

The funding of 7000.0 USD (6995.10 USD @ $1.0/USD) attached to this issue has been approved & issued to @ekazukii.