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🏆Force Prize
Force Prize is a large-scale global incentive competition to crowdsource DeFi’s highest performing investment strategies.
We believe solutions can come from anyone, anywhere. Scientists, engineers, entrepreneurs, academics and other innovators with new ideas from all over the world are invited to form teams and compete to win the prize.
The future of DeFi is both chain and layer agnostic. We’ve partnered with protocols and organizations from across the blockchain ecosystem to incentivize the creation of new strategies and tools that’ll benefit the usability and adoption of DeFi.
Force Prize
Force DAO and Gitcoin have partnered to design and host the Force Prize. The ongoing competition will take place in the form of Gitcoin Hackathons, which run on a bi-quarterly basis (every 6 months).
Hackathons are conformed by bounties that fall under one of the following themes:
- Yield Automation
- Arbitrage
- Indexes
- Derivatives
- NFTs
- Tools and Infrastructure
The initial set of bounties will be categorized by difficulty level (beginner, intermediate, advanced).
Start Date: TBD
End Date: TBD
Themes and bounties change on a bi-quarterly basis, and are adjusted to match the trends and technologies that are most relevant in the space.
Read more about this Gitcoin Grant at the following link:
How Force Prize works
Step 1: R & D
Community members locate yield-bearing assets, farms, staking, and leverage opportunities and bring them to the attention of the larger Force DAO community.
Step 2: Submission
Members of the community can team up and propose yield-generation models to the community via forum post, which becomes eligible for discussion and a democratic vote.
Step 3: Incubation
If the vote passes by quorum and the Force Prize committee, Force DAO gives the strategist support in designing and implementing their strategy.
Step 4: Deployment
Once ready, the DAO will assign additional resources to test and market the novel strategy or tool prior to it being canonized on our app or spun out as its own standalone project.
Strategist Performance Fees
Strategists (and strategy teams) that build, test and deploy investment strategies with Force DAO, receive a baseline number of Force tokens depending on the theme of the prize.
In addition, to the Force rewards, strategists receive 50% of all performance fees genereated by their strategy.
Example:
Consider a Generic Lending Strategy on BSC, with the following parameters
- TVL: $100M
- Net APY: 20%
- Net Profit: $20M
Profit is distributed as follows:
- 80%: Capital providers (investors who provide the principal) ~ $16M profit
- 10%: DAO treasury ~ $2M profit
- 10%: Performance fees for strategists ~ $2M profit
Last modified 6mo ago