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AlgoRank staking + CLR
oceanprotocol, algorank, CLR
## Prize Title
AlgoRank - Mini CLR for Algo marketplace
## Prize Bounty
50,000 $OCEAN tokens to be distributed to 2+ winners (3-4K$ based on average price of $OCEAN in May, 2020)
## Challenge Description
Concept: Imagine you enter a store full of advanced algorithms. You want an algorithm that detects faces so you walk to the shelf that says 'image algos'. It contains hundreds of algos that claim to solve your task but you do not want to test every single one of them. So you ask someone from the supermarket staff to rate them for you. You are not quite happy with the rating since it does not match your criteria. Enter AlgoRank! A crowdsourced algorithm ranking platform with skin-in-the-game. Experts and enthusiasts stake on various algorithms in the marketplace to signal their vote of confidence in the quality and usefulness of the algorithms. The host marketplace (for this MVP imagine that's Ocean Protocol) rewards both stakers and algo providers once a month with a mechanism similar to Gitcoin Mini-CLR rounds!
Ocean Protocol v2 augments v1 with the ability to run privacy-preserving data pipelines on (private) data that can't be seen by the user/consumer. Internally, we use the code name compute-to-data for this new release.
Furthermore, we have added a new asset type "Algo" to the core protocol in addition to the existing asset type "data". Users of Ocean powered DApps and Data DEXes can reuse existing Algos (a generalized term for data pipelines, ML models, etc.) listed on the marketplaces on matching data sets. This means Ocean Protocol is now equipped to power AI/ML algo marketplaces (v2) in addition to being a substrate for decentralized data access control (v1).
To **bootstrap** our ecosystem of data scientists and ML engineers, we would like to create mechanisms to fairly and objectively rank and reward the best performing algorithms. To that end, we are asking you dear BUIDLers to come up with ideas and MVPs for ranking and rewarding algorithms across all Ocean-powered data marketplaces.
For the purposes of this bounty, you can use [Ocean Commons marketplace](https://commons.oceanprotocol.com/) as your only source of algos and datasets for ranking/rewarding.
An interesting way to do this is a modified version of Gitcoin Mini CLRs for Algos on Ocean v2 using mechanisms like QF (quadratic funding) and staking. (using QF is not a strict requirement, but strong suggestion)
[What is Mini CLR - Gitcoin](https://gitcoin.co/wiki/what_mini_clr/)
A few small modifications could be done to fit this mechanism to our use case (bootstrapping algos and data pipelines). The following features satisfy the requirements of **MVP1:**
- Instead of micro-donations, users and experts **stake** $OCEAN tokens (or in future any liquid token like DAI) on Algos. This does not need to be done at the L1 protocol level. You can create a simple web3 application that scans the marketplace (Ocean Commons in this case) for all Algos and lists them on your front-end DApp for staking.
- At the end of each round (once per month), Ocean Protocol Foundation, or an associated representative community funding DAO, distributes a pre-set amount of monthly rewards (in $OCEAN tokens) to the best performing Algos.
- The overall score could be computed in several ways and that is open for you to decide! One way could be a compound score based on **# of time the Algos was called/used** (purchase, used on-chain and/or gas fees paid - sybil resistance) and the **amount of stake on that Algo** for the duration of that CLR round or life-time staking value (latter option preferred, similar to LTSE). You could also use other metrics like # of Github stars, active commits, lines of code, and any other subjective measures like star rating on your DApp.
At a later stage, Ocean Protocol could activate onchain referrals (planned feature on our roadmap), so that stakers automatically receive a portion of the Algo revenues (if a paid Algo). For this MVP/bounty you can distribute 20% of the monthly rewards to the accounts that maintained a minimum threshold of stake on any given Algo. (GAS is free/cheap on our PoA network Pacific, so we can do many microtransactions at no/low cost).
Ocean Protocol v2 CtD docs:
Simplified tech explainer blog post for v2:
[Behind the Scenes: Ocean Compute-to-Data](https://blog.oceanprotocol.com/v2-ocean-compute-to-data-guide-9a3491034b64)
## Submission Requirements
100% = functional code and front-end and implements all the features listed in MVP1
50% = functional code covering reqs in MVP1 but no sleek/usable GUI
50-100$ in $OCEAN for very good concepts with min of 2-4 pages of concept and diagrams + the right to submit funding proposal(s) for further development of your concept(s).
## Judging Criteria
Best idea and implementation together will be selected as winner of the bounty, There can be multiple winners as well. In that case, bounty reward will be distributed equally/unequally to those winners
## Winner Announcement Date
Winners will be announce after a week of submission deadline as soon as we complete reviewing the submissions.
## What's Next?
Once you successfully come out of this last stage and show potential for growth of your platform, we might offer you a chance to join our Ocean apps support program, where we will incentivise and mentor you to help grow this platform into a startup with marketing, mentorship and investments
## How to Submit?
- Publish your submission into public Github repo with proper README describing how to use it.
- Next, submit the link to this repo to the bounty and mention for which phase this submission belongs to (e.g.) Phase 2 - Dispute Resolution Mechanism : Implementation
## Resources for Developers
- [Beginner's guide to Ocean Protocol](https://blog.oceanprotocol.com/hitchhikers-guide-to-ocean-protocol-b238d3bbd450)
- [About Data Bounty Platforms](https://firstname.lastname@example.org/buidl-with-ocean-protocol-data-bounty-platforms-f4b630063b90)
- [Ocean Protocol Docs](https://docs.oceanprotocol.com/)
- [Ocean Protocol Github](https://github.com/oceanprotocol)
## Questions & Reviews
You can reach out to us for any queries via email to **email@example.com** or post your questions in our discord channel - [Ocean Protocol's Discord](https://discord.com/invite/TnXjkR5)
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