HackMDfarcaster.vote points game
Community owners are incentivized to create polls that yield points for their users. Owners receive 30% of all points generated by their polls, while 70% is distributed among participants.
Participants must be part of the community census, which can be one of the following types:
- Farcaster followers of the community owner
- A Farcaster channel
- An Ethereum or Base DAO (NFT or ERC20)
In addition to the 30% received, community owners can attract new members, especially if the yield rate is good. Thus, a Farcaster user who creates their own community can gain new followers if their activity in the points game is strong.
Voters are incentivized to participate in polls to earn points. They will likely seek out communities with high yield rates to maximize their benefits.
Screenshots
Reputation
Reputation is a measure of trust and reliability within the farcaster.vote ecosystem.
It reflects the credibility and activity level of a community owner.
The reputation score ranges from 0 to 100, where a higher score indicates greater trustworthiness and a more active, engaged community leader.
Reputation is used to unblock premium features of the platform and to boost the yield rate for the owned communities.
User Activity (100 points)
| Activity | Points | 100% Equivalent |
|---|---|---|
| Number of cast votes | 25 | 120 votes |
| Number of polls created with at least 10 votes | 10 | 100 elections |
| Number of owned communities | 10 | 5 communities |
| Participation achieved on created polls | 45 | 1000 votes |
| Farcaster followers | 10 | 20k followers |
Boosters (100 points)
| Booster | Points | Addresses |
|---|---|---|
| Hold the Votecaster NFT Pass | 10 | base: 0x |
| Hold the Votecaster Launch NFT on Paragraph.xyz | 18 | base: 0x |
| Follow @votecaster in Alfafrens | 12 | channel: 0xa630fcc62165a3587c6857d73b556c8a61c8edd3 |
| Follow @votecaster in Farcaster | 5 | fid: 521116 |
| Follow @vocdoni in Farcaster | 3 | fid: 7548 |
| Recast Votecaster announcement | 7 | hash: 0x |
| Hold $KIWI | 4 | optimism: 0x66747bdC903d17C586fA09eE5D6b54CC85bBEA45 |
| Hold 5 $PROXY | 4 | degen: 0xA051A2Cb19C00eCDffaE94D0Ff98c17758041D16 |
| Hold 10,000 $DEGEN | 4 | base: 0x4ed4E862860beD51a9570b96d89aF5E1B0Efefed |
| Hold DEGENDAO NFT | 6 | base: 0x980Fbdd1cF05080781Dca0AEf7026B0406743389 |
| Hold Haberdashery NFT | 6 | base: 0x85E7DF5708902bE39891d59aBEf8E21EDE91E8BF |
| Hold ProxyStudio OpenVenture NFT | 5 | base: 0x7888b1f446c912ddec9bf582629e9ae8845fd8c6 |
| Hold TOKYODAO NFTs | 5 | base: 0x432073397Aead241cf2411e21D8fA949183E7151 |
| Hold a name.Degen | 5 | degen: 0x4087fb91A1fBdef05761C02714335D232a2Bf3a1 |
| Farcaster OG | 6 | zora: 0xe03ef4b9db1a47464de84fb476f9baf493b3e886 |
Community Yield rate
A Community has the following parameters, which update constantly based on created polls and achieved participation:
- Participation achieved in polls: For example, 0.4 means 40%.
- Census size: For example, 20,000 participants.
- Reputation of owner: Between 0 and 1, for example, 0.3.
For each poll created, participants receive points for casting votes. This is called the "Yield poll rate". For instance, a yield poll rate of 0.25 means each cast vote gets 0.25 points.
The yield poll rate is calculated dynamically using this formula:
Y = (2 * P + 0.2 * log(C)) * R
If the Commuinty is a DAO (NFT or ERC20 census), a x2 multiplier is applied: 2*Y
Explanation of the Formula:
- Participation
(P): The higher the participation, the better the yield rate for participants. - Census Size
(C): Larger communities have more points, but its impact is smaller and grows logarithmically. - Reputation
(R): Acts as a multiplier, boosting the yield rate. Higher reputation means a higher yield.
Key Points:
- Participation has 10 times more weight than the census size.
- Census size affects the yield but to a lesser extent, increasing logarithmically.
- Reputation is crucial for achieving a good yield rate. The higher the reputation, the higher the yield.
- There is a minimum of participation required to fetch any Yield, which is 5%
- Poll owners are limited to 3 polls per 24h
- Only Polls created within a Community are elegible to earn yield
Participation impact
Census size impact
Census size + Reputation impact
Participation + Reputation impact
Example Calculation
Let's see an example of how the points are calculated:
- Participation
(P): 0.4 (40%) - Census Size
(C): 20,000 participants - Owner Reputation
(R): 0.3 - Poll Votes: 100
Using the formula Y = (2 * P + 0.2 * log(C)) * R:
- Calculate the participation component:
2 * 0.4 = 0.8 - Calculate the census size component:
0.2 * log(20000) ≈ 0.2 * 9.903 = 1.9806 - Add these components:
0.8 + 1.9806 = 2.7806 - Multiply by the reputation:
2.7806 * 0.3 ≈ 0.83418
The yield poll rate (Y) is approximately 0.83418.
Total Points Distributed:
- Points per vote:
0.83418 - Total points from 100 votes:
100 * 0.83418 ≈ 83.418
Distribution:
- Owner receives 30%:
83.418 * 0.3 ≈ 25.0254 - Participants receive 70%:
83.418 * 0.7 ≈ 58.3926which means0.58points each
So, the community participants earn approximately 0.58 points, and the owner earns approximately 25.03 points from the poll.
Community points
The points of a community are calculated based on the yield rate of that community and the reputation of the community creator.
The yield rate formula takes into account the census size of the community and the participation mean of every election for that community.
The community holds the 100% of the calculated points.
User points
Any user gets points based on the reputation reached and the activity of the user with the farcaster communities.
The points of a user are calculated adding the points get as a voter of community elections and as a owner of communities.
Every community has a specific formula to calculate the number of points that give to the users (30% as a voter and 70% as creator).
Example
A user that has 2 communities and has voted to another 3 communities will have the sum of the 70% of his communities (based on his reputation) and the 30% of the another 3 communities (based on the creator reputation).
User reputation
The reputation of a user is calculated with the combination of the Activity reputation and the Boosters:
- Activity reputation: Taking into account the number of followers the user has on Farcaster, the number of elections the user has created and participated in (regardless of the type of election or census), the number of votes the user has cast and the number of communities the user has.
- Boosters: Contains some achievements that the user can reach (NFTs, following some channels or users, having a minimum balance of a token, …).
