Covariance
We build a network focused on helping projects solve their most urgent goals. We want to build a POC that demonstrate how a network of collaborators can help unlock value for projects when the right incentive are put in place
Project Description
Project description: Covariance is the first curated network of business developers, sales and growth experts. We help projects solve well defined and measurable problems, by empowering contributors from varied networks to unlock value that otherwise would not have existed. We help projects structure complex incentive mechanism to solve their most urgent problems, and allow anyone who can add value to build
Hackathon Scope: During ETHglobal 2023 Online Hackathon, we wanted to build a POC that demonstrates how this model can scale leveraging on-chain primitives and on chain reputation and credentials.
Description of the app, user flow and functionality: The app is a marketplace that allows a company to list a campaign in which they allocate token rewards as a bounty for anyone who could help them solve well defined KPI's such as introduction to new customers, find a design partner or integration with their SDK. Reward can be a live token, or in the future, a right to get a token allocation via the use of RWA tokenization.
On the other side, contributors can open a profile in the app, and apply to participate in a campaign.
Once they join a campaign (admin approved), they can submit opportunities to help achieve the published KPI’s.
When the campaign is concluded, the project measures the KPI and decides which contributions have been qualified.
Qualified contributors are getting the proportional part of the reward unlocked into a vesting contract.
The problems we identified and how on-chain primitives can help solve them: The model can work well on a small scale with a trusted entity as a gatekeeper, a curator of the participants and the projects participating. We were looking how to scale an agency model into a trust minimize protocol (details in the next section)
How it's Made
When we started, we looked at the app flow and explored which on chain primitives can be used. here are the ones we mapped:
Examples we looked at in this hackathon:
Contributor onboarding - how do you vet if a contributor is a fit to a specific campaign ? On chain credentials and reputation can provide trustless and verified information about contributors past experience. We were looking at leverage Mask network, Polygon ID, Sismo Lens, Farcaster, Galaxy OATs, POAPs as ways to achieve this. Trustless reward allocation - Project fund a Safe multisig account with joint control between Covariance, Project, 3rd party (oracle) Trustless campaign resolution - The rules to release rewards are determined based on UMA Optimistic Oracle (in most cases the projects will report which submissions qualify, but in dispute case, Covariance members or a set of pre-approved voters will cast their decision to decide). Trustless reward distribution Contributions measurement - Use on chain signatures to prove your contribution (both what and when) - use Filecoin DataDAO to store the information
what were we able to achieve during the hackathon: Forming a new team via ETHglobal discord, mixed of experienced & junior participants Aligning on vision and application flow, creating the mockups and user flow. Completion of an entire app UI design in Figma Completion of campaign creation Safe Plugin smart contract Documentation page of the Safe Plugin Integrating with UMA oracles
Technologies we used: Solidity and Foundry, React, nextjs, javascript, wagmi, ethers, tailwindcss, and shadcn. Figma. Miro.
