Introducing Chainwhiz (Bounty program) & Bridging DEV to Polygon

What is Chainwhiz?

Chainwhiz is a decentralized and open-source marketplace on the Polygon Network
connecting businesses and project-owners with independent developers all around
the globe.

Web3 places the community at the center of everything and so do we. On top of
operating similarly to a normal freelancing marketplace, Chainwhiz gives the
community the power to vote on solutions and help curate the most optimal solution
submitted to a bounty.

Website: https://www.chainwhiz.app/

How Chainwhiz can help dev protocol grow fast?

Dev Protocol has seen serious appreciation from the community and the project’s
forum is full of enriching and productive discussions on improvements for
Dev Protocol.

Now, is the perfect time for the project to leverage the power of this community and
turn the discussions in the forum to implementations through a bounty-reward
system.

This is where Chainwhiz with its marketplace architecture can act as a platform on
which dev protocol can list issues/improvements/bug-fixing as bounties for a larger
community of developers to solve.

How is Chainwhiz different than other marketplaces?

  • Zero Platform fees - Pay only what the developer needs to be paid. No hidden
    costs. No commissions. While Upwork, Gitcoin charges 20%,10% Platform Fees for
    posting bounties, our platform has zero platform fees.

  • Community Voting - Save up on time, effort, and resources in figuring out the best
    solution to your bounty. Get bounties solved 5x faster

    • How?
      • Existing platforms - Bounty-poster has to dedicate a lot of time in scanning
        through every Github repo to figure out the best solution to his/her bounty.
        A mediocre and non-efficient process of curation with no participation of
        the community.

      • Chainwhiz - everyone can stake tokens and vote on
        solutions submitted to your bounty. Once the voting phase ends, you can
        choose the best solution based on the voting scores, instead of the
        tedious manual process. Saves tons of time and lets you post a bounty
        and forget about it only to come back and get the best solution.

  • Community incentives - The community now has an additional source of
    income as they receive incentives on top of their staked amounts for voting on
    solutions submitted to the bounties. In due time, you will see subject-matter
    experts emerge inside your growing community as their reputation as voters
    increases with experience. Slashing on malicious activities preserves the
    authenticity of voting and motivates the community to contribute meaningfully

  • Visibility - community-centric projects like dev protocol gain more visibility and
    audience as more eyes are turned towards their projects as a result of the
    community voting.

Building a bridge between DEV and Polygon

We need to create a bridge between DEV and Polygon, that would be ideal for Dev Protocol to start using Chainwhiz. And also this is also great for us, we know that people want DEV on Polygon.

Appreciation

Thanks to the Chainwhiz team for reaching out to us.

Feedback is welcome

Any inputs/feedback is more than welcome on any part of this document.

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Wow, this is a great post introducing chainwiz :star_struck: ! It’s awesome that community-centric projects gain more visibility. Loved this :sparkles:

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Hey @Ritvik_Shukla , thanks for the appreciation. We’re live on testnet and you can feel free to play around with our website. Constructive feedback on any part is more than welcome!

Quick links to keep yourself updated with Chainwhiz :wink:
Twitter
Discord

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Thanks for this post. Does that mean DEV stakes.social would be on eth mainnet, arbitrum, and polygon? Or only chainwhiz on polygon? From a staking perspective, it will need to be clear which projects are on which blockchain, and why each blockchain offers different APR, and any difference in using different blockchains.
But as I understand it, this is a way for DEV to get resources to help build the platform? Could it be for implementing new features or just for smaller things like bug fixes? And forgive my lack of understanding of decentralisation but who manages payment of the resource? Does the DEV community vote on who to employ for a contract, and payment comes from a pool of funds?
Edit: I answered most of my questions by reading the website! You need MATIC tokens to stake and vote on a solution. This would be a good step towards becoming a DAO but would require purchase of matic tokens so seems to primarily benefit matic rather than DEV. Ideally voting power would be based on number of DEV tokens held. So worth considering the costs/benefits of extending stakes.social to polygon as a platform for all DEV’s features rather than just to enable chainwhiz, in my opinion, unless it would significantly reduce costs of sourcing development effort, or attract better solutions. A major anxiety currently for dev token holders is its depreciation in token value.

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Interesting PoV!
Q: Could it be for implementing new features or just for smaller things like bug fixes?
A: Chainwhiz is a bounty marketplace, and hence can be used for all purposes. Be it bug fixes, or new features, as long as there’s a Github issue link to it, it can be posted as a bounty on the platform.

As for our present contract, it only supports staking with MATIC tokens, but we do understand the ask for staking in DEV tokens instead. This would appreciate the value of the DEV tokens and increase the number of voters as devprotocol community already holds DEV tokens.

Hence we were thinking of some approaches -

  1. Tweaking our contract to support staking in all ERC-20 Tokens. This solves the problem but would require time to implement. (Help from the network at devprotocol would be Great! Implementation would be faster if Chainwhiz and devprotocol can work hand in hand on this.)

  2. Keep the staking only through MATIC for the time being, and when the voters unstake, they get back their MATIC and receive incentives in form of DEV.
    Advantage: Addresses more users and helps increase user base of devprotocol as users outside of the devprotocol community can also vote and become DEV holders, in turn.
    Feel free to add on your points. Thanks

Note: Since our platform is on MATIC, it would require all users to hold some amount of MATIC tokens anyway, to pay for gas. (Just like, ETH is needed to pay for gas in Ethereum mainnet)

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Thanks for your reply! I am by no means an expert in any of this I’m just asking questions to help my understanding.
To me, initially option 1 seems preferable, because it puts voting power in the hands of the DEV community rather than the polygon community. With option 2 anyone with MATIC can vote on a solution and receive DEV rewards but they have no incentive to vote on the best solution and may well sell their DEV rewards as soon as they get them. Is there a risk that they habitually vote for the same developers for any bounty as a private agreement?
But option 2 introduces DEV protocol to new people, and is quicker and cheaper to implement. So maybe as option 2 does not take anything away from the project it is the right first step.
Would you list DEV protocol as a partner on your website?

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Happy to answer all questions. Ultimately, it leads to a better product that the community desires.

For Number 2, we want only people who are serious about voting and in supporting projects to vote. (Similar to De-Fis where only 15-20% of the community participates in proposal voting, but it ensures the credibility of the votes)
The way to think about this is like a flywheel.

  • If voters support devprotocol, and help it scale by contributing meaningfully, either through voting or solving, One it increases the number of DEV holders, Two it can increase the market value of the token itself, given its close relationship with the project.
    More reasons to hold DEV than to sell, as users start to see the potential in price.

I’d agree that since option 2 is the smarter way out of the two, given the timeline it is the right first step to take for Chainwhiz. Will help devprotocol to start posting bounties, without any delays or blocks.

Option 1 is a future improvement feature as it addresses all problems seamlessly and allows staking in all ERC-20 tokens as opposed to only MATIC. The natural next step, I’d say that can be worked on together by Chainwhiz and Devprotocol members together. Opens up more opportunities and communities.

As for listing Devprotocol as a partner on our website, we surely can do that. It would be a pleasure to support the project.

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I like it, has my vote. Any future voting mechanisms for a DAO need to be on a blockchain like polygon anyway so would be a good first step. I’ve been involved in a project in the past where voting was done on eth but the gas was so high no one could afford to vote for anything.
Does chainwhiz have a token?

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Exactly, Voting on Ethereum is a huge issue. The reason why so many De-Fis have been deploying on Polygon as the migration is very easy and cheaper.

Chainwhiz does not have a token presently, but we have a plan on launching our native token in the future, let’s say in the coming 6-7 months. Again, everything is tentative here.

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Happy New Year everyone!
Let’s make 2022 a BIG YEAR for devprotocol and Chainwhiz :star_struck: :heart_eyes:

Give our Twitter accounts a follow for more Updates! :arrow_down:
devprotocol Twitter Account || Chainwhiz Twitter Account

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Bounties will soon be live on Chainwhiz. :heart_eyes:

Here’s a quick walkthrough about Chainwhiz and how everyone can use it :heart:
Product Walkthrough

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Already launch:

Dev Protocol :space_invader: $DEV on Twitter: “Introducing bounties for Developers Dev Protocol has received staggering support from Open Source Contributors. To thank them, we are setting up a bounty program in Chainwhiz to reward them with $DEV tokens. #bounty #web3 #opensource https://t.co/BFjsvJIVdh” / Twitter

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