Bounties

Definition:

Bounty spending proposal: A proposal to reward a predefined body of work upon completion by the Treasury.

Proposer: An account proposing bounty spending.

Curator: An account managing the bounty and assigning a payout address receiving the reward for the completion of work.

Deposit: The amount held on deposit for placing a bounty proposal plus the amount held on deposit per byte within the bounty description.

Curator deposit: The payment from a candidate willing to curate an approved bounty. The deposit is returned when/if the bounty is completed.

Bounty value: The total amount that should be paid to the Payout Address if the bounty is rewarded.

Payout address: The account to which the total or part of the bounty is assigned.

Payout Delay: The delay period for which a bounty beneficiary needs to wait before claiming.

Curator fee: The reserved upfront payment for a curator for work related to the bounty.

Diagram

Description

A Bounty Spending is a reward for a specified body of work - or specified set of objectives - that needs to be executed for a predefined Treasury amount to be paid out.

• After a bounty is approved by the Council and the spending period runs out, the bounty is funded. Then a curator is delegated with the work that requires expertise in exchange for a deposit.

• A curator is delegated with the responsibility of assigning a payout address once the specified set of objectives is completed.

• Once the curator accepts the bounty, they get to close the active bounty. Closing the active bounty enacts a delayed payout to the payout address, the curator fee, and the return of the curator deposit. The delay allows for intervention through regular democracy.

  • The Council gets to un-assign the curator, resulting in a new curator election.

  • The Council also gets to cancel the bounty if deemed necessary before assigning a curator or once the bounty is active or payout is pending, resulting in the slash of the curator’s deposit.

• When claiming the bounty:

  • The curator gets the curator fee and the curator’s deposit

  • The implementer gets the bounty value= Total bounty value - the curator’s fee

Note that if the bounty value is larger than the amount of GLCH in the Treasury in one spending period, it will not be funded until the Treasury have enough amount of GLCH to pay for bounty funding in another spending period.