Example App: Data Bounty Platform
Incentivizing Quality Data Contributions
MIZU natively supports a data bounty app that incentivizes users to contribute high-quality data to specific repositories. This app leverages the smart account associated with each data repo to facilitate the reward distribution process.
Smart Account and Crypto Deposits
Each data repo created on the MIZU platform has a dedicated smart account capable of holding cryptocurrency. The repo creator can deposit funds into this account to set up a bounty for data contributions. For example, a creator might deposit $1000 into a data repo with the goal of collecting 1000 pictures, offering a reward of $1 per picture.
Flexible Reward Distribution
The reward distribution mechanism is defined by the smart contract associated with the repo, allowing for a high degree of flexibility. The contract can specify various reward schemes, such as:
- Fixed reward per contribution
- Tiered rewards based on the quality or complexity of the data
- Proportional rewards based on the total number of contributions
- Time-based rewards to encourage early participation
This flexibility enables repo creators to tailor the incentive structure to their specific needs and goals.
Transparent and Automated Payouts
The data bounty app ensures transparent and automated payouts to contributors. When a user submits data to the repo, the smart contract automatically validates the contribution against the predefined rules and requirements. If the data passes the validation process, the contributor is instantly rewarded with the specified amount of cryptocurrency from the repo’s smart account.
This automated process eliminates the need for manual intervention and provides a seamless and trustworthy experience for both repo creators and contributors.
Driving Quality and Engagement
By offering monetary incentives for data contributions, the data bounty app encourages users to actively participate in the growth and improvement of data repositories. The prospect of earning rewards motivates contributors to submit high-quality data that meets the repo’s requirements, leading to a more robust and valuable dataset.
Moreover, the data bounty app can help to attract a wider range of contributors, including domain experts and professionals who may not have otherwise participated in the data ecosystem.