vitelabs/bounties

Create a Quota Bank for Vite

Opened this issue · 3 comments

joelyangxyz commented

Prize Title
Create a Quota Bank for Vite

Prize Bounty
$2500 in VITE + VITE merch

Challenge Description
Many blockchains solve the spamming problem with gas. Transactions on Vite, however, are free. To fight spamming, Vite transactions consume something called Quota. Quota can be secured by either locking VITE or running Proof-of-Work. When the Vite network is congested, locking VITE is required to secure Quota. At any time, the user can lock VITE to secure Quota for themselves or for another Vite address.

Users can lock their own VITE to secure Quota, or someone else can lock VITE to secure Quota on their behalf. For instance, if Alice doesn’t have enough VITE to lock up for getting sufficient Quota, she can ask Bob to lock his own VITE and set her address as a Quota beneficiary.

The idea of a Quota Bank is that Bob, in the example above, can be an entity that provides Quota for all users in the network that request it. The bank has a reserve of VITE (Vite Labs foundation could provide such) and lock the requisite amount of VITE on behalf of these users. Each Quota Bank can set up its own requirement for how users can obtain the Quota. For example, the Quota Bank can decide that only users that made positive contributions to the Vite ecosystem (via software development, or social media promotions) can receive Quota.

Here’s a diagram that better explains the Quota Bank mechanism:
Screen Shot 2021-06-14 at 5 31 19 PM

The following functions must be included in a valid submission:

  • A frontend for Quota Bank, where users can apply for Quota (the Quota Bank can set its own standards for who would be eligible)
  • Ability to lock VITE on behalf of said users
  • Display the amount of VITE in reserve, to be used for locking
  • A way to see which addresses received how much Quota
  • The Quota Bank needs to set its own policies for expiration of locking support (e.g., Quota will only be provided to applicants for two weeks)

Submission Requirements

  • A hosted website that captures all functions described above
  • 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
  • We will require a demo of the submission

Judging Criteria

  • The Vite team will run tests to make sure basic functions perform as required
  • The code submitted will be subjected to a review for extensibility, organization, proper documentation

Winner Announcement Date

  • The Vite Labs team will schedule a demo after receiving the submission. And a winner will be announced within 48 hours after the demo

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 2500.0 USD (2498.75 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 days, 17 hours from now.
Please review their action plans below:

1) niklr has started work.

Users can lock their own VITE to secure Quota, or someone else can lock VITE to secure Quota on their behalf.

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented

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

Work for 2500.0 USD (2498.75 USD @ $1.0/USD) has been submitted by: