Please read the MemeTeam app launch article for background on the how and why of the MemeTeam app as well as MemeTeam campaigns.

1. Campaign duration

From block 11588550 (approximately Mon 4 Jan 2021 10:00hrs UTC) to block 11682300 (approximately Mon 18 Jan 10:00hrs UTC)

2. Objective

  • Work out kinks with the Meme Team app before a subsequent operation with a larger prize expected to occur some time after the conclusion of Operation Dry Run.

3. Meme Eligibility requirements

  • Poster must upload the meme entry via the MemeTeam.link site at any time between the Operation Dry Run campaign block numbers (inclusive)
  • Poster must tweet the meme during the time that the meme's proposal is live for voting
  • Meme must have fewer than 21 votes against it

4. Prize Amounts

  • If 21 or fewer addresses vote for the winning meme, then the total prize is 5 YFL
  • If more than 21 voters, but fewer than 34, vote for the winning meme, then the total prize is 8 YFL
  • If more than 34 voters vote for the winning meme, total prize is 13 YFL
  • Prize for the winning meme will be shared 50% with the address that submitted the meme, and 50% shared pro-rata with all addresses that voted for the meme
  • Shaftoe will donate the prize amounts and disburse them to the winners following the award procedure below

5. Voting and Uploading Memes

  • Anyone with at least 0.12 YFL can submit a meme and vote (technically the minimum is 0.1 YFL but we say 0.12 to reduce annoying rounding errors when staking)
  • YFL holders can vote for as many memes as they want
  • They can also upload as many memes as they want

6. Determining the winning meme

  • The eligible meme with the highest memeScore wins the competition

The memeScore formula seeks to prevent large YFL holders from being able to claim the prize by dominating the voting

  • If a meme has as many or more voters than it has votes, then the score equals:

memeScore = numberOfVotes + numberOfVoters

  • If a meme has fewer voters than it has votes, then the score equals:

memeScore = voteAdjustmentFactor * numberOfVotes + numberOfVoters

  • Where:

voteAdjustementFactor = ([ 2 * (numberOfVotes * numberOfVoters) / ( numberOfVotes + numberOfVoters) ] ^ 2 ) / ( numberOfVotes * numberOfVoters )

The voteAdjustmentFactor formula is adapted from Balancer's rewards weight formula.

As numberOfVotes approaches numberOfVoters, the value of voteAdjustmentFactor approaches 1.

See draft award modeling here: https://bit.ly/2WfkhVI

7. Award procedure

  • Team 01 is creating a script that will calculate the score per Section 5 above
  • We will open source this script so anyone can verify the final score against the blockchain
  • Once we verify the final score, we will disburse the prize to the winning creator as well as the winning voters, using disperse.app or a similar application
  • We will aim to do this as quickly as possible after the competition closes, however please allow some time in case we run into unforseen issues disbursing the prize as this is our first time doing this