Knowledge Base

# 💰 Quests (Bounties)

# Overview and Concept of Quests

"Quests", also referred to as "Bounties", are tasks or projects assigned within a Team. This feature is designed to manage, assign, and incentivize tasks, encouraging active participation and the execution of successful proposals in the Teams's community.

By setting up a Quest, the Teams can incentivize the successful completion of tasks, leveraging the collective skills and efforts of its members. It's the decentralization of work and how we envision you to earn a sustainable living in the Metaverse.

# Modes of Quests

Quests operate under three different modes to cater to various needs and scenarios:

  1. Assignments: In this mode, tasks are directly assigned to specific peers. This is best suited for straightforward tasks where the Teams has identified peers who are suitable for the task.
  2. Matchmaking: This mode provides flexibility by enabling peers to apply for tasks. The Teams can then choose from a pool of applicants, making it ideal for tasks requiring specific skills or when the Teams wants to explore untapped talents within the community.
  3. Competitions: This mode stimulates a competitive environment where multiple peers vie for task completion. Rewards are distributed to the peer or peers who perform the best. This mode fosters innovation, creativity, and instills a healthy competitive spirit among peers.

# How to Use Quests

# Creating a Quest

  1. Navigate to the Quests section within your Teams.
  2. Click on the "Create" button.
  3. Follow the on-screen prompts to define the task or project to be undertaken.
  4. If you have the necessary permissions, you can directly call the smart contract. If not, you'll be prompted to propose the creation of the bounty.

# Applying for a Quest

  1. Navigate to the quest page. The quest must be in the "Matchmaking" state to accept applications.
  2. Click on the "Apply" button.
  3. Provide a concise but informative description of how you plan to accomplish the task.

# Completing a Quest

  1. Navigate to the quest page.
  2. Click on the "Complete" button.
  3. Upon successful completion, the rewards will be distributed accordingly.

Remember, Quests aims to create an interactive, efficient, and productive Teams community by facilitating task management in a decentralized way.

# Platform Fees

Understanding the fee structure is essential for participating in Quests. Below is how fees are applied:

  • Default Platform Fee: A fee of 5% is charged on the total bounty amount upon successful completion of a Quest. For example, if a $100 bounty is completed, the platform fee would be $5, leaving a $95 reward for the bounty completer.

  • Reduced Fee for Boosted Teams: For Teams boosted to Level Two, the fee is reduced to 2%.

  • Withdraw Fee for Incomplete Bounties: A minimal fee of 0.05% is charged if a bounty is withdrawn before completion.

These fee structures are put in place to maintain a robust and sustainable ecosystem that rewards contribution and participation effectively.

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