bountypool has made its first bounty payout of 294.75 Ark. Fortunately with the help of @sonobit bountypool was able to forge for a day. The forged Ark was used to accrue funds for this and another existing bounty.

What follows is meant as a case study and as a guide to how bountypool works. If you have any further questions you can ask here or reach me on slack @ryano .

Bountypool case study
The Problem: I wanted a history of delegate votes and ranks saved to a database so that I could grab the data and produce time series plots of delegate votes and ranks. The result of this work has been used to produce the following interactive time series plots:
The bounty that was approved can be found here:

So how did I lever bountypool to get this done?

Creating a bounty
First, I sent 100 Ark to bountypool with Smartbridge text “Proposal: Create a dat record of forging delegate vote histories”. You can see this transaction here:

bountypool received the proposal and created a wallet for this specific bounty. The address for this wallet is AJvGfM7ri3eUUk5vaYHaYrswT8Ba8ECsLg and you can add it to your watch-only list to see all the transactions that occurred for this bounty.

This wallet gets pre-funded with the 100 Ark sent and includes Smartbridge text “Bounty: Create a data record of forging delegate vote histories”. You can see this transaction here:

The newly created bounty address votes for bountypool. This is so accumulated earnings in a bounty address continue to contribute to bountypool’s standing in the ranks.

Bounty accrual
After a period of time forging bountypool is able to make a payment. This is called a bounty accrual and functions like a profit sharing pool until the bounty is completed. In this case, bountypool is splitting its accrual towards two separate bounties, and so this particular wallet accrued 193.85 Ark.

Claiming the bounty reward
Eventually, a claim occurs. To make a claim, a user sends 1 Ark to this bounty address with Smartbridge text “Claim: []” with an address that provides proof of completion. For this case study, the delegate ‘arknode’ made a claim. If this claim is approved, the bounty reward will be sent to that same address. You can see this claim/transaction here:

Approving a claim
Voters supporting the bounty accrual can approve claims made to that bounty. To approve a claim, a voter would send a 1 Ark transaction to the bounty wallet responding “Approve: []”. When the majority of the bounty’s supporters approve of a claim, the accumulated funds in the bounty wallet can be sent to the address that made the approved claim. Here is the transaction where I approved of the original claim:

Completing the Bounty
Through this process 1) a proposal was made, 2) a bounty wallet was created, 3) bounty value accrued, 4) a claim was made, 5) the claim was approved, and lastly 6) the bounty was paid.

When a bounty is paid the entire wallet amount is sent to the address that made the approved claim. You can see this transaction here:

Last thoughts
If you have any questions about bountypool feel free to reach out to me here or on slack @ryano