TotalCrypto recommends that contributors should be incentivised with a 25% share of incubator profits. However, during the first 6 months it is unlikely that any of the incubees will be generating revenues. This means that contributors require an additional incentive to support the incubator at the start.
It is advised that a monthly budget is set for additional contributor rewards. It is recommended that this allocation of coins from participating crypto projects should then be distributed every month to contributors and act as an additional incentive mechanism in order to reward the top incubator contributors.
It is recommended that participating crypto projects reserve the right to make changes to incubator contributor reward budgets. However, it is advised that contributors are given one months notice before any promotional changes are made. For example, if the knowledge base was already comprehensive enough then there doesn’t need to be a further incentive to work on this.
Some contributions will be better than others. The incubees themselves are probably the best people to judge which contributors have been the most helpful.
TotalCrypto advises that incubator contributor rewards should be distributed in a promotion that is relatively simple to understand, can be marketed effectively and acts as a real contributor incentive. Gamification means that contributors can also compete against each other for higher rewards and prizes. This competition should also elevate the quality of both the knowledge base and mentorship enjoyed by incubees.
- There will be two types of leaderboard promotions:
- The first is a monthly promo that distributes additional contributor rewards. Prize pools are fixed and are paid out in the cryptocurrency of participating crypto projects. This monthly promotion will be split into two separate promotions: One for mentor contributors and one for knowledge base contributors.
- The second is an annual promotion that distributes incubator profits to contributors. The prize pool for this annual promo will be dynamic and change based on incubator profit.
- Both promotions will pay out contributors exclusively in the coins of involved crypto projects.
- The number of contributors that take part in the promotions will impact on the distribution of prizes. Put simply, the more people that contribute, the greater the number of people that should be rewarded. The prize distribution structures always ensure that the bulk of prize pool distributions are credited to the top contributors:
Promotion Prize Pool Working Examples:
- Promotion prize pool: $5,000.
- Number of contributors during the promo period: 9
With 9 active contributors in the promotion period the following prize pool distribution would be created:
- (50%) – $2,500 in crypto
- (30%) – $1,500 in crypto
- (20%) – $1,000 in crypto
Note: Percentages refer to a portion of the overall prize pool.
- Promotion prize pool: $5,000
- Number of contributors during the promo period: 86
With 86 active contributors in the promotion period, the following prize pool distribution would be created:
- (28.50%) – $1425 in crypto
- (17.60%) – $880 in crypto
- (10.90%) – $545 in crypto
- (8.80%) – $440 in crypto
- (7.35%) – $367.5 in crypto
- (6.20%) – $310 in crypto
- (5.20%) – $260 in crypto
- (4.20%) – $210 in crypto
- (3.25%) – $162.5 in crypto
- (3.25%) – $162.5 in crypto
- (2.40%) – $120 in crypto
- (2.35%) – $117.5 in crypto
- How are contributor ranks calculated?
- Every 2 weeks, all incubees will be asked to rank contributors. Naturally, the best contributor should be ranked first and the next best would be ranked second etc.
- Ranking list length will be determined by the number of incubator contributors. For example, if there were 60 active contributors then incubees will be asked to rank their top 10 contributors. This means that each monthly promotion period will have two data updates.
- Each rank an incubee credits to a contributor will result in points being credited to that contributor. See below for the points distribution – points are rewarded up to position 40.
The detailed promotion breakdown sheet can be seen here.
Working Example Of Points Allocation:
- There are 50 active contributors.
- There are only 5 incubees.
Halfway way through the monthly promo: Contributor X receives the following contributor rank from each incubee:
- 1st = 1,000 points
- 7th = 250 points
- 22nd = 40 points
- 28th = 20 points
- 39th = 5 points
- Total Points for first half of promo: 1,315 points
At the end of the month, incubees gave Contributor X the following contributor ranks:
- 2nd = 750 points.
- 2nd = 750 points.
- 10th = 100 points.
- 29th = 20 points
- Didn’t rank in top 40 = 0 points.
- Total Points for second half of promo: 1,620 points.
First half points + second half points = Total points for monthly promotion.
In this working example, contributor X would have achieved the following points score:
1,315 points + 1,620 points = 2,935 points grand total.
The contributors final points tally would be used to:
- Generate the final promotion leaderboard and determine the contributors promotion prize.
- Points will count towards the annual incubator profit split promotion.
Annual Incubator Profit Split Promotion
- Promotion period: 12 months.
- How points are accrued: Sum of final points tally in knowledge base and mentor monthly leaderboards.
- Prize pool: Dynamic prize pool based on incubator profit (monthly update).
- Prize pool distribution: Same method as the monthly promos.
What Data Should The Leaderboard Show?
The leaderboard should display the following columns:
- Contributor alias.
- Projected prize in NIM coins.
- Projected prize in USD.
- Contributor points.
- Movement change.
The prize pool should be displayed prominently on this page. Additional columns to improve style could be added e.g. country flags for contributors.
Leaderboard tables could be similar in style to those seen in golf: