FT Bounties
Fungible Token TrustBounties
Last updated
Fungible Token TrustBounties
Last updated
FT Bounties are trustBounties that lock up fungible tokens. Here is a step-by-step guide to creating FT Bounties:
Go to the TrustBounties' page, pick a currency to use as a collateral (in the image below, we picked the usd currency) and then click the Create a Bounty in button
In the form that pops up read the description of each parameter and fill in the appropriate value. Validate and confirm the transaction.
Tick the Mine Only option to only show your trustBounties, find the recently created one, expand it and click on the Control Panel button. Since the collateral of this trustBounty is an NFT, we will not select a currency before going into the control panel menu
From the control panel menu click on the Add Balance button. Fill in the form after reading the description of each parameter and validate the transaction:
You should notice the total amount of tokens locked up in your trustBounty change under the Total Liquidity parameter. The contract takes a 1% processing fee.
The next step is to specify the terms under which your trustBounty can be attacked. To do so, go back to your trustBounty's control panel menu and click on the Update Bounty button and input the terms of your trustBounty in the appropriate field
Validate and confirm the transaction. You should see the updated terms in your trustBounty's panel
Congratulations! You have successfully created your FT bounty. Your token is now locked up as collateral in the bounty and can only be removed after November 25th, 2023 at midnight.
If you violate your terms, your bounty can be attacked and if you fail the voting process, you will lose your collateral for the attacker.
To view and participate in the current ongoing votes on collaterals, click on the Litigations' tab right next to the ValuePools' tab
There can only be one active claim per trustBounty so before doing anything, make sure the trustBounty you are trying to claim is not already being claimed. If it is, wait till that claim is done otherwise you will not be able to create a new claim.
If there is no ongoing claim and you believe you can prove the trustBounty's terms have been violated by its owner, you can claim the trustBounty by following the following steps:
Go to the trustBounty's control panel menu and click on the Start Litigations' link
This will open the litigation creation page so you can create your litigation. Make sure you provide the reason for the claim as well as possible links to proofs you might need to include. Also provide a succinct and clear title, fill in the rest of form and validate the transaction.
A friendly claim does not submit your claim to the trustBounties' community for a vote. This is a form of claim you make in case the owner of the trustBounty agrees to let you have the amount you are claiming, from the trustBounty.
Normal claims will submit your claim to the trustBounties' community so they can vote on whether you should be able to withdraw the claimed amount from the trustBounty or not.
When creating claims, you have the ability to specify whether you would like to also deactivate the trustBounty in the event your claim was successful. When a trustBounty is deactivated, all its funds are locked for life.
Once a claim is created, you will be able to view it from the litigations' page like in the image below
You can view a list of all claims that currently ongoing on all the trustBounties under the Opened tab. To find a litigation on a specific trustBounty, enter the trustBounty's ID in the search bar.
Once you've found your litigation, you can view some information about it from its panel:
Its title which in the image above is Litigation 1
Its weight which in the image above is 16. Litigations are given a weight based on their gas amount (the fee the trustBounty community is being paid for voting on the litigation) such that the more gas a litigation pays to the community, the more weight it has and the more the community is incentivized to vote on it.
Its favorable votes' weight which in the image above is 16. This is the total sum of all the weights of the voters that have voted in favor of the attacker
Its unfavorable votes' weight which in the image above is 0. This is the total sum of all the weights of the voters that have voted in favor of the owner of the trustBounty's owner
Its end date which in the image above is November 20th, 2023 at 14:40 UTC
To view the body of the claim, click on the the litigation's panel. This will open the following page for you:
You can view the Attacker's statement and right below it, if there's any counter statement by the trustBounty's owner, you will be able to view it under the Defender Statement's title.
You can also view in the Details' section information such as:
whether the claim will lock the bounty for life if successful (which is not the case in the example above)
the amount being claimed which in the image above is 1 USD
the creation date and end date of the claim. All claims last for 7 days
the different weights associated with the claim
In the lower right, you can view a quick summary of the current voting status of the claim. In the image above, we've only gotten 1 vote so far for the attacker and there are 6 days left for voting on the claim.
At the left of that, we have a list of the voters and the weight of each one of their votes as well as which party the voted for. You can reveal all the voters' list by clicking on the See All button
Once you've made up your mind, pick the party you want to vote for. The attacker is the one claiming the trustBounty and the defender is the owner of the trustBounty.
The Leviathan NFT collection is the address of the Leviathan NFT collection in which you need to have an NFT to be able to vote on the claim.
Click on the Cast Vote button and fill in the form that pops up with your Leviathan NFT token ID & your profile ID. You should see the form populate with information on the weight of your NFT once you fill in your NFT token ID. In the image below, that weight is 16 meaning our vote will add 16 points in favor of whichever party we chose to vote for (in our example, we are voting for the defender i.e. the owner of the trustBounty being attacked). Validate and validate the transaction.
Congratulations! You should be able to see the effects of your vote reflected in the vote's status after you've reloaded the page.
In the case your trustBounty were unjustly attacked/claimed, you can defend it by adding your statement to the claim. Go to the claim's page by following the steps above and under the Details' section click on the Update Statement button
The next step is to pick the Defender option and then writing up your statement to counter that of the attacker. Be sure to provide links to any document/proof that might help make your case, then validate and confirm the transaction.
Reloading the page should provide you with an updated view of the litigation's page. You statement should now be added under the Defender Statement's section
PaySwap enables you to be compensated for participating in litigation votes regardless of how you vote.
Each litigation has a weight associated with it representing the extent to which each of them has contributed to the total reward pool. The reward pool is distributed among voters with respect to how many votes they've participated in and the litigations they've voted on.
