RAD Update - Program Month 4 (January 2023)
January was the fourth month of the RAD program (Pocket bounties) and was our largest yet. Details of the program are above and current bounties available can be accessed here:
https://app.dework.xyz/pokt-network
Results:
In the month of January, 6 large bounties were allocated and delivered which create our largest month ever:
- @h5law has architected a strong pipeline as a trusted agent with the Protocol team. It’s great to see this mechanism work and is something we hope we can scale further for protocol dev
- @OmnistratMatt completed a deeper analysis of Pocket’s trophy system and results will be published shortly by Matt and Jack
- PoktDAO Twitter continues to be run by @PoktNews , including a small back payment for additional work completed towards this task
A number of developer bounties are in progress but remain incomplete.
Applications were received for 2 bounties but were not allocated.
Retrospective:
Our fourth month has led to some additional improvements and requests:
- Bounties are not being priced in “Task Points”. Point values will relate to the number of $USD or $POKT to be rewarded. This creates greater visibility for contributors and will allow payment tracking to be simpler than the previous system
- We want more talent/developer referrals - if you have any ideas for improving this system please let us know
- More will be announced soon of the intersection of bounty and grants programs. Please keep an eye out for further updates from PNF
Rewards:
January rewards for the RAD program will be disbursed before February 15th. Funds to be disbursed can be seen below:
Program funds:
Reminder that RAD proposal secured 600,000 POKT, anticipated to be used as:
Average task size: XtraSmall (XS) to Medium (M); Some Large (L)
- XS = 1-2 hours (10%) - $50-100 = $500
- S = 3-6 hours (30%) - $150-300 = $4500
- M = 1-3 days (50%) - $400-1200 = $30,000
- L = 4-8 days (10%) - $1200-3200 = $16,000
Funds to be disbursed (Month 4):
Bounty - Contributor - Size - Rewards
@h5law - Developer Bounties (x4) - $14,400USD | 244,897 POKT
@OmnistratMatt - Trophy Review - $3000USD | 51,020 POKT
PoktDAO Twitter - @PoktNews - $1750USD |
PoktDAO Backpayment - PoktNews - 24,764 POKT
Note: These rewards use the 30 day (Jan) average price from CoinMarket cap of POKT. This price is 0.0588
Program Funds: **
600,000 POKT
Balance - Start of January
442,703 POKT (Restated)
Rewards - December
325,769 POKT
Balance - End December
116,934 POKT
Burn rate
120,766 POKT pm. Runway of 0.96 Months @ current rate
As we have advanced rapidly toward the end of our runway you should expect another update on this very soon.