Please describe your proposed solution
<u>Problem Perception</u>:
Project owners in the Cardano ecosystem face significant challenges in finding a reliable platform that allows them to engage with the community and efficiently manage task-based rewards. Specifically, they struggle to find a platform that not only supports native Cardano tokens but also ADA, the network’s primary token. This lack of support limits their ability to incentivize and reward contributors effectively.
Additionally, many project owners have difficulty managing the distribution of rewards in a secure and transparent manner. Current options either do not integrate well with the Cardano blockchain, or they require cumbersome manual processes for handling tasks and distributing rewards. This increases the risk of delays in payments and complicates the overall task management process, leading to a lack of trust between project owners and contributors.
For contributors, there is a lack of a streamlined system where they can trust that their work will be compensated in a transparent and timely manner. They often find it hard to ensure that rewards are guaranteed, as many platforms lack the essential smart contract mechanisms that lock and automate reward distribution. This absence of automated security creates uncertainty, discouraging contributors from engaging in tasks.
Without a unified, decentralized platform that directly supports native Cardano tokens and ADA, project owners are left with limited options to securely reward contributors. This not only hinders project development but also limits the potential of the broader Cardano ecosystem by preventing meaningful engagement with its community.
Task2Earn aims to solve these problems by offering a decentralized platform that securely manages tasks, locks rewards in smart contracts, and supports both native Cardano tokens and ADA. This ensures that project owners can easily engage with contributors and distribute rewards efficiently, while contributors can trust that their efforts will be compensated through a transparent and secure system.
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<u>Approach</u><u>:</u>
To address the challenges faced by both project owners and contributors, Task2Earn will implement a decentralized platform on the Cardano blockchain that integrates several key features aimed at solving the problems of engagement, task management, and reward distribution. Our approach focuses on providing a secure, transparent, and efficient system powered by smart contracts and native Cardano tokens, including ADA.
1. Decentralized Platform with Smart Contract-Based Reward Locking:
At the core of Task2Earn is a smart contract mechanism that securely locks rewards when project owners post tasks. This ensures that contributors are guaranteed payment upon task completion, eliminating trust issues and providing a transparent, blockchain-based guarantee of compensation.
- Why this approach?
- By using smart contracts, project owners can lock rewards in advance, creating a secure and automated process where tokens are only released when the task is completed and approved. This eliminates delays and risks associated with manual payments, ensuring contributors are rewarded quickly and fairly.
2. Support for Native Cardano Tokens and ADA:
Unlike many platforms that fail to support Cardano’s native tokens or ADA, Task2Earn will integrate full support for both, allowing project owners to reward contributors in any native token or ADA. This flexibility enables project owners to leverage the full potential of the Cardano ecosystem while incentivizing their contributors with the tokens that matter most to them.
- Why this approach?
- Offering support for ADA and native tokens ensures that project owners can engage the community using the token of their choice, driving higher participation and collaboration. This also expands opportunities for contributors, who can earn rewards in a variety of tokens within the Cardano network.
3. Transparent Task Management and Approval System:
Task2Earn will offer project owners a streamlined interface to create, manage, and approve tasks. Contributors can browse available tasks, complete them, and submit their work for either automatic approval or manual review by the project owner. The TN (Token Earned) system will be used to track contributor progress, with TN points converted to native tokens at the end of the campaign.
- Why this approach?
- This approach allows for flexible task approval, where simpler tasks can be automated, while more complex tasks can be manually reviewed by project owners. The use of TN points also adds a layer of transparency, ensuring that both project owners and contributors have visibility into task completion and reward distribution.
4. Manual Verification of Tokens for Non-ADA Rewards:
For campaigns that offer rewards in tokens other than ADA, Task2Earn will implement a manual verification process to ensure the legitimacy of those tokens. This includes verifying token details, ensuring it is listed on an official DEX (Decentralized Exchange), and checking its presence on social media.
- Why this approach?
- This ensures that contributors are rewarded in legitimate tokens, protecting them from scams or illegitimate projects. By adding a manual verification step, Task2Earn creates an additional layer of trust and security for the community.
5. Efficient Token Conversion and Distribution:
At the end of each campaign, the project owner will set a conversion rate for TN points to native tokens or ADA. Once set, the smart contract will automatically distribute the appropriate amount of tokens to contributors based on the TN points they’ve earned.
- Why this approach?
- By allowing project owners to set the conversion rate after tasks are completed, Task2Earn provides flexibility and control over how rewards are distributed. This ensures that contributors are compensated fairly based on the value of the tokens at the time of distribution.
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<u>How It Works</u>
Task2Earn leverages blockchain technology to create a secure, transparent, and decentralized platform for project owners and contributors. Here’s a step-by-step breakdown of how the platform functions:
1. Campaign Creation & Fund Locking:
- Project Owners (PO) create a campaign by specifying tasks and allocating a certain number of tokens for rewards.
- The allocated funds are locked in a smart contract, ensuring that the rewards are secure and available for distribution when tasks are completed.
- The PO also defines the conversion rate for TN (Token Earned) points to native tokens, which is set at the beginning of the campaign.
2.Token Verification (For Non-ADA Rewards):
- If the reward token is something other than ADA, the platform requires a manual verification process before the campaign begins. The token must be:
- Verified on a DEX (Decentralized Exchange).
- Have a presence on social media for legitimacy.
- All token details must be reviewed to ensure contributors are rewarded with legitimate tokens.
3. Task Posting & Browsing:
- POs post tasks within their campaign, including details such as the task description, required skills, deadlines, and the number of TN points contributors can earn.
- Contributors can browse these tasks and select ones that match their skills and interests.
4. Task Execution & Submission:
- Once contributors select a task, they begin working on it and submit their completed work through the platform.
- Depending on the task, it may either be automatically approved (for simple tasks) or require manual approval by the PO.
5. Task Approval & Reward Allocation:
- For tasks that require manual approval, the PO reviews the submission and either approves it or requests revisions.
- If approved, the contributor is awarded TN points.
- If revisions are required, the contributor can resubmit the task for approval.
- For automatic tasks, the system approves the task immediately upon submission, and the contributor is awarded TN points.
6. TN Point Accumulation:
- As contributors complete tasks, they accumulate TN points, which serve as placeholders for their rewards. TN points represent the effort they’ve put into completing tasks and will be converted into native tokens at the end of the campaign.
7. End of Campaign & Reward Conversion:
- The campaign concludes either when:
- The funds allocated by the PO in the smart contract are exhausted.
- A specific end date is reached, as determined by the PO during campaign creation.
- After the campaign ends, the TN points accumulated by contributors are converted into native tokens (e.g., ADA or another Cardano-native token) based on the conversion rate set by the PO.
8. Token Distribution via Smart Contract:
- Once the TN points are converted, the smart contract automatically distributes the corresponding tokens to contributors’ wallets.
- The entire process is handled through blockchain technology, ensuring transparency, security, and trust throughout the reward distribution process.
Project Owners (PO) flows
User Task flows
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<u>Engagement</u>
Task2Earn will actively engage multiple segments of the Cardano ecosystem, including Project Owners, Contributors, and the broader Cardano community. Our goal is to create a collaborative platform that drives widespread participation and increases the adoption of decentralized task-based systems on Cardano.
1. Project Owners:
- Simplified Task Management: Project owners can easily create campaigns, post tasks, and manage contributor engagement. They will have the tools to lock funds, monitor progress, and approve work.
- Native Token Flexibility: By supporting both ADA and Cardano-native tokens, project owners have flexibility in how they reward contributors, incentivizing them to use the platform for task-based projects.
- Community Interaction: Through Task2Earn, project owners can directly engage with the Cardano community, tapping into a pool of skilled contributors to complete specific tasks, while also boosting collaboration within the ecosystem.
2. Contributors:
- Earn Tokenized Rewards: Contributors have the opportunity to earn TN points for completing tasks and convert them into valuable native tokens or ADA at the end of the campaign.
- Task Variety: Contributors will have access to a diverse set of tasks across different projects, allowing them to showcase their skills, build a reputation, and receive recognition through completed tasks.
- Security & Transparency: Contributors are guaranteed payment through the secure smart contract system, which locks rewards until task completion, ensuring trust and transparency in the process.
3. The Broader Cardano Community:
- Platform Accessibility: Task2Earn is designed to engage the entire Cardano community, enabling anyone with the relevant skills to participate in tasks, earn rewards, and contribute to projects that drive the ecosystem forward.
- Collaboration Opportunities: The platform encourages widespread collaboration by allowing developers, designers, marketers, and other professionals within the Cardano ecosystem to contribute to various tasks, supporting project growth and innovation.
- Token Holders & Cardano Enthusiasts: Even members of the community who are not directly involved in task completion can benefit by participating in discussions, supporting projects, and being part of the ecosystem's growth.
- Cardano-native Token Projects: Task2Earn will foster partnerships and collaboration with other Cardano-native token projects, enabling them to use the platform to post tasks, thereby enhancing their own development and engagement with the community.
Community Engagement Initiatives:
- Open Source Components: By making certain elements of the platform open-source (e.g., smart contract logic and APIs), we will encourage developers and the Cardano community to contribute to platform improvements.
- Partnerships: Task2Earn will collaborate with other blockchain and Cardano-based projects to integrate with their ecosystems, encouraging greater adoption and engagement from a wider audience.
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<u>Impact Measurement</u>
We will measure the impact of Task2Earn across several key metrics to demonstrate the platform’s effectiveness and its contribution to the Cardano ecosystem.
1. Task Completion Rate:
- We will track the number of tasks completed by contributors, which directly reflects the platform’s success in connecting contributors with project owners.
- Metrics will include the number of tasks posted, completed, and approved, highlighting platform activity.
2. Contributor Engagement:
- By monitoring how many contributors actively participate in tasks, we can assess the platform’s ability to attract and retain a skilled workforce. Metrics will include:
- Number of active contributors.
- Total TN points earned.
- Average reward per contributor.
3. Project Owner Activity:
- The level of engagement from project owners will be a key success indicator. This includes:
- Number of campaigns created.
- Total funds locked in smart contracts.
- Overall satisfaction from project owners based on feedback surveys.
4. Token Distribution:
- We will track the total number of TN points converted into native tokens and distributed through smart contracts. This helps demonstrate the efficiency and transparency of the reward system.
- Volume of rewards distributed across different campaigns will reflect the platform’s economic impact on the Cardano ecosystem.
5. Community Growth & Open Source Contributions:
- We will monitor the number of developers and contributors engaging with the open-source components of the platform.
- By tracking contributions to the codebase, suggestions from the community, and platform enhancements, we can assess how Task2Earn supports collaboration within the Cardano developer ecosystem.
6. Social Media & Partnerships:
- We will measure the platform’s impact through social media engagement, partnerships, and integration with other blockchain projects.
- Metrics include collaborations with other Cardano projects, mentions on social media, and community discussions.