I proposed the idea of a task on 1729.com for paying the top 10 task completions $100 worth of NMR each based on their CORR scores in a round.
the proposal is: [Proposal]: Incentivized submissions for a greater reach (on 1729.com)
It was proposed in May and with initial budget of the CoE with not much development. I think it would have much bigger impact now than before with recent developments of a marketplace (NumerBay), Kashi Lending, more text/video content from the community to get started, and an increased funding from Numerai. Leading to more passive participation.
Since I can not edit the previous proposal, I’d like to make a new proposal with clearer goals and impacts that’ll benefit everyone.
- To make an incentive based task on 1729.com for user engagement. I have already drafted the task (explaining Numerai and task details). It rewards top 20 submissions with $100 NMR based on CORR +2xMMC. the best scores in 4 rounds after it’s published(for eg, the best CORR + 2xMMC in any of 270, 271, 272, 273. Thus, it lasts for 2 months to resolve). Thus, $2000 worth NMR in total. The goal is to release the task on Monday so new users have a week for experimentation before making a submission. However, I do not have any information on when it’ll be released if it’s accepted.
- since 1729.com has higher reach to a broader audience working on Blockchain and Machine Learning, this task would put Numerai to a bigger appropriate audience and hopefully will help in Token appreciation by a larger audience.
- With market place and Kashi Lending, more people can participate passively by providing liquidity (This is good for users) and by buying and selling predictions (that’s helpful for the meta-model). New users would have video/text content to get started.
- Payout factor is also decreasing, so we have this window to engage more users and grow the community before it converges to 0.2 .
- The draft is ready which is just explanation of Numerai and the task details. If the task is released on Monday, the submissions will be made next Saturday. The round takes 4 weeks to close. So, we’d have winners after 5 weeks.
- Best case outcome
- Many new users join. Top 20 rewarded $100 in NMR (will be distributed by 1729.com , preferably on Coinbase wallet with instant transfer). Hopefully, some of that will stay in the tournament through stakes.
- Word of mouth sharing from some influential Crypto and ML twitter handles.
- Kashi Lending increases.
- More buyers on the marketplace.
- More viewers on content.
- Worst case outcome
- No one submits (highly unlikely)
- Only 20 submissions, and all rewards are sold. No user turnout.
- Success criteria
- If the team has some kind of analytics to see how many sign-ups are coming form the task post, we can see how many users joined and set a baseline for counts.
- Funding required
- Yes, 1729.com tasks needs at least $1000 in Coinbase supported cryptocurrencies. I am proposing $2000 for this task.
- I was working on this before the CoE was formed. As I am one of the CoE, I do not want any personal compensation.
- There is no personal monetary benefit tied to this. If this works, everyone equally benefits from this. If it doesn’t, no one loses anything (except the funding and my hosting).
- If this works, we can have tasks for Signals with bigger funding.
- Currently, as I am the proposer and a part of CoE, I will not vote on this.
- I’ll not initiate/queue up the transaction.
- Other elders have to start this and fund it.
- Funds will not go to my wallet, instead directly transferred to 1729.
- This, according to me is a very high RoI experiment.
- You can see previous discussion here: [Proposal]: Incentivized submissions for a greater reach (on 1729.com)
I’d recommend going through 1729.com and have a look on how the tasks are organized