Description
Create a decentralized jury of up to 25 willing participants from the Free TON community who are willing to put in the time and efforts to study, interpret, analyze, vote, and deliver qualified feedback to DeFi contest submissions from contest participants.
Type
Contest
Contest period
Begins 19-10-2020 at 00:00:00 UTC - Ends 25-10-2020 at 23:59:59 UTC.
Motivation (DeFi SubGovernance proposal specification)
In the strive to decentralize Free TON, so should the jury come from the community at large. This will help achieve the goal of decentralized governance 2.0.
On the other hand, the complexity and immensity of the DeFi topic has led to the creation of a separate SubGovernance and requires the creation of a Jury from specialists in Decentralized Finance (DeFi)
Initial SubGovernance DeFi Free TON members are also the Initial DeFi Jury members. They are appointed to form the full Free TON DeFi jury. This initial composition assumes all responsibilities of the Free TON DeFi Jury and is to launch a Free TON DeFi Jury Contest.
The main duty of the full FreeTON DeFi Jury is to vote in the FTDCs (FreeTON DeFi Contests).
This contest continues a series of recurring Jury contests until reaching the KPI of at least 15 independent jurors (in addition to seven initial members).
Contest submission requirements
You must submit a curriculum vitae (C.V. or Resume) that demonstrates one, all, or some of the following skills and abilities:
- Knowledge in the field of DeFi. Understanding the principles of Decentralized Finance. Good orientation on the market for DeFi solutions
- Thorough knowledge of one of the solutions on the DeFi market. Ability and experience of using it (Compound, Uniswap, Zerion, Maker DAO, Aave, Synthetix, Nexus Mutual, dYdX, Opyn Etc.)
- Statistics of advertising work (marketing, PR, promotion, ownership of thematic channels or groups in social networks, etc.), dedicated to the DeFi topic
- Experience in trading on decentralized exchanges (DEXes)
- Understanding how decentralized StableCoins work
- Understanding the Mechanism of Decentralized Derivatives
- Working with non-custodial Escrow services or Decentralized CryptoAsset Lending & Borrowing
- Ability to read, understand, audit, or program Smart-contracts
- Trading experience based on a liquidity pool (not order book-based)
- Introduction to decentralized insurance, as well as decentralized Options (Call Option and Put Option)
- Understanding the Mechanism of an Automatic Market Maker
- Understanding the principles of the Oracles (Market data streamer)
- Understanding the essence of the work of BTC\ETH\Solana\PolkaDot Wrappers
- In the absence of experience in DeFi and inability to program Smart Contracts, it is necessary to have financial education, work experience in financial institutions (including banks) and a good understanding of the principles of blockchain and DAO.
Rights and duties of the winner as a member of the Free TON DeFi Jury
Winners will get the right to be a juror for each Free TON contest going forward and get the same reward as each contest describes for jurors. The award will be distributed in fair proportion to all jury members participating in the voting who have given a mark other than “Abstain”, based on the number of votes within a specific contest.
In order to get the jury reward described in each contest, the juror must do the following:
- Each juror should review each contest and its requirements here under “Contests”.
- The juror should review each contestant’s submission (uploaded in .PDF format) and determine if each submission is within the scope of his or her understanding to judge it, and then vote as follows:
a. If outside of juror competence, the juror should vote to “Abstain”
b. If within juror competence, the juror should vote on a scale of 1-to-10 with 1 representing least and 10 representing most qualified submissions.
c. If the submission is inappropriate, the PDF file is unopenable or corrupt, etc., the juror should vote “Reject” at all.
- The juror should provide constructive feedback in the appropriate field describing the reason for their score.
As any civic duty dictates, every juror must remain objective to the best of his/her abilities in regard to voting, i.e., stick to the facts and the facts only, leaving any personal feelings aside.
In case the juror, his/her relative, or a member of his/her team is participating in the contest, the juror must abstain from voting for this contest.
The jury should remember the strategy of creating DeFi tools on the Free TON blockchain when voting: create a basic infrastructure layer to facilitate the entrance of new partners to the FreeTON DeFi ecosystem, as well as the switch of current market leaders to FreeTON from Ethereum and other blockchains, which will boost the wide adoption of FreeTON.
Voting for a new jury
- Each of the initial Free TON jurors can vote on your submission (candidacy) to become a juror.
- Jurors whose company or team member/s intend/s to participate in this contest cannot vote, even if they are a sitting juror.
- Each juror will vote by rating each submission on a scale of 1 to 10 or can choose to reject it if it does not meet the requirements, or they can choose to abstain from voting.
- Jurors will provide feedback on your submissions
- Each contestant that wins and becomes a juror will receive 50 Tons as a welcome bonus.
These conditions may be changed or supplemented before the contest will launch.
Procedural remarks
- Participants must correctly upload their application to the Free TON DeFi Jury Member contest (in PDF format) in order for the jury to view it. If the application is not available or does not meet the described criteria, the candidate will be rejected by the jury.
- Participants must submit their work before the end of the competition. If the application is submitted late, it will not be accepted.
- All submissions must contain the contestant’s contact information, including a Telegram username, by which jurors can verify that the submission belongs to the individual who submitted it. If not, your submission will be rejected.
- If your submission has links to the work performed, the content of those links must have the contestant’s contact details and Telegram username, so jurors can match it and verify who the work belongs to. If not, your submission will be rejected.
- Contestants must provide valid FreeTON addresses where they will receive their reward in case of winning. Make sure that you keep your seed phrase and private keys from your wallet in a safe place.
These conditions may be changed or supplemented before the contest will launch.
Disclaimer
Anyone can participate, but Free TON does not distribute TONs to US citizens or entities.
Telegram group: FreeTON DeFi initiative group
