📗Community Challenges

Overview

Community Challenges allow creators to set specific goals tied to participation in one or up to three Community Pools. These challenges are designed to incentivize engagement by rewarding participants who meet the defined requirements.

Structure and Functionality

• A Community Challenge is linked to one or a maximum of three Community Pools and is based on participation in these pools.

• The challenge objective is to reach a specified number of claimed (valid) participations within the associated pool(s).

• The minimum challenge value is 5 USDC.

Creation Fees

Creators must pay the same fees as those required for Community Pools:

• Fixed Fee: 1 USDC

• Variable Fee based on the total challenge value:

  • Less than 100 USDC: 10%

  • Between 100 and 500 USDC: 5%

  • 500 USDC or more: 2%

Reward Distribution

• Only one participant can claim the reward for a Community Challenge once the requirement is fulfilled.

• The reward goes to the first participant who meets the challenge criteria and claims it.

Challenge Closure

If no participant manages to fulfill the challenge, the creator can close the challenge and reclaim their funds, but only under the following conditions:

• The associated Community Pool(s) must be closed.

• At least 7 days must have passed since the closure of the last associated Community Pool.