Have a Challenging Idea?
If you’re facing a technical challenge and don’t know where to start, Kambria’s Open Innovation Platform can help. Kambria is the first platform to connect innovators to collaborate and build hardware, software, manufacturing, and framework solutions at the same time. With our technology, companies can sponsor bounties to solve challenges and bring their ideas to life. Starting with the AI and Robotics verticals, bounties will eventually also be used for Blockchain, Drone, Space Tech, Bio-Med verticals and more. Below is an overview of how the Kambria bounty process works. We’ll discuss the key players, how bounties are created, and the role of our ever-important judges.
The key players in the bounty process are Bounty Owners, Backers, Developer Teams and Judges. Each plays an important role to ensure the best ideas are chosen and rewarded.
Bounty owners host bounties to obtain the funding and/or development talent they need to get their ideas off the ground.
Backers are interested parties who will benefit from and believe in your idea. They can join the bounty and create additional incentives (in KAT) to attract more developers in return for a stake in the final product.
Developer teams are groups of developers who have relevant skills and experience in their fields. They have the ability to bring the bounty owner’s ideas to life.
Judges are experts and mentors in their field. They offer advice and give fair and equal representation to all of the participants in the bounty.
Typically, bounty owners are enterprise companies or developer teams who lack the tools, ability, or resources to build a complete product. Some examples of bounty owners are:
- Enterprise companies who lack the proper expertise to build robotics and AI
- Developer teams who lack the necessary funding to get their ideas off the ground.
- Entrepreneurs in the concept phase of development.
- Niche developers who specialize in a specific field, and need assistance outside their expertise (i.e. software developers who need help building hardware).
When the creator is ready to start a bounty, they will submit a proposal through the platform, deposit KAT (incentives), and create the bounty. After confirmation, backers and developer teams can review the proposal and decide if they would like to support the idea.
To encourage a fair and balanced bounty, each of the interested parties will select one judge from a pool of judges to represent them in the bounty. The judges not only protect the interests of all parties involved but also prevent abuse by any of the participants. Because of this, the final product is far more likely to be of the highest quality, and both the bounty creator and developer teams will enjoy the benefits of legal protection for their work and/or products. Additionally, judges are required to stake KAT to ensure their participation throughout the event.
You can read more about how Kambria has decentralized the judging process with the Kambria Judge Protocol here.
The bounty creator collaborates with the judges and developer teams to build and refine the product solution. A steady flow of information between developers, judges, and the bounty creator ensures accuracy and clarity. Judges offer expertise and mentorship, and the developer teams compete against one another until the proposed final solutions are complete. Once the developer teams signal completion, they will submit their results to the Kambria Blockchain where the judges will review each team’s final solution.
After the developer teams submit their work, the bounty is then closed. Judges will work together to select the best submissions and then ultimately, a winner. In the event that the judges decide that no submission was sufficient enough to meet the needs of the bounty creator, judges can conclude the bounty without a winner, and all of the KAT is returned to the original owners.
Once a winner is determined, the following will occur:
- The bounty owner acquires the solution and primary ownership of the product.
- The winning developer team receives the prize pool of KAT.
- The judges receive Karma for their contributions and their staked KAT is returned.
- The backers will receive partial commercial rights to the product in the event the technology earns revenue on the Kambria platform.
Below you will find the bounty platform infographic. If you are interested in participating in a bounty, or have any inquiries, please visit our bounty website at https://bounty.kambria.io, or email us at firstname.lastname@example.org.
Also published on Medium.