Project: Bounty Board

Champion: Icedcool

Date: April 19, 2022

Multisig: https://gnosis-safe.io/app/#/safes/0x8a3dAE25C39B114a0B86E4e7900cB3C29BD8F637

Summary

Bounty Board made strong progress in S3 on all fronts: team, product, and business.

On the team front, the core team continues to be energized while also attracting new, cross-functional talent. We added additional part-time devs for our Discord bot and website, onboarded a new outreach lead, partnered with the Marketing Guild for our first campaign, and focused product efforts with our product manager.

On the product side, we executed on many new features identified during our S2 outreach efforts, including gating bounties to roles and users, adding repeating bounties, multiple claimants, and application bounties. We also expanded our front end functionality to allow creating and editing bounties on the front end.

On the business side, we tested our business model by deploying Bounty Board to 5 externals DAOs and did a strategic competitor and positioning exercise. Unfortunately, the tested business model has been invalidated, but the data and positioning we got from this effort will go directly into our S4 validation efforts.

S4 will be based mainly around creating sustained usage via UX improvements, while continuing to further develop our hypotheses around product-market fit.

Season 4 Strategy

BanklessDAO has become the premier DAO for cross-functional contributors. Our easy onboarding process, wide reach, and guild structure allow us to attract and retain talent like no other DAO. These same structures allow us to observe the challenges between work organizers and DAO contributors first-hand. BanklessDAO is the perfect environment to develop a product that connects contributors with work.

Our competitors mainly fall into two major categories:

• New contributor funnels, like Layer3 and Colony.io Missions. These products use their reach to attract new contributors to DAOs with what amount to job postings. According to our research, they can be effective short-term but not so much in the long-term, especially since the bounties don’t have any logic built in to pre-filter candidates.
• Project management systems, like Clarity.so and Dework.xyz. These products are focused on project management tooling, including bounties as a feature of convenience. The major weakness of products like this is that they have a learning curve and friction - users must sign into these outside systems and buy into their way of working. Bounties are also not typically the main area of focus.

Our S4 strategy is based on the following hypotheses:

1. Tapping BanklessDAO’s talent pool is an effective way for other DAOs to recruit contributors. We will test this by having external DAOs post bounties on our internal Bounty Board.
2. A tactical, low-barrier, flexible product that can be used in existing DAO workflows on Discord will drive usage. We will test this by improving our UX, adding tactical use cases, and strengthening outreach efforts internally in BanklessDAO.