Marketing Initiatives

Oh no, you guys will all know within days/hours of us, it’s gonna be warts and all testnets and hopefully delivered at a high rate of iterations. Expect bugs, we do :wink:

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Thats exactly as I envisaged it happening.
So we better get busy arranging the bug bounties… and all thats necessary to promote, operate the bug hunt

David, dig deep, pal :slight_smile:

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A little poking around at https://www.bugcrowd.com/bug-bounty-list/ and similar sites might be good places to start

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I think we would need to raise some funding for this. Like we can’t have a contest for marketing ideas and be like congrats you win now go pay all the costs to make it happen :stuck_out_tongue: It’s a worthy cause though, and I would donate to the pot for sure!

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I think the bounties will have to paid in MAID…

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@Sotros25

IMHO the marketing strategy should be centered on SAFE’s progress.

Of a near-to-intermediate timeframe the primary milestones are:

  1. Vaults Phase 2
  2. Fleming
  3. Maxwell

Each successive milestone should be accompanied by a marketing plan and exchange goals. For example, the exchange goals for Vaults Phase 2 could be to have support for 1 decentralized exchange and 1 centralized exchange serving the US market.

A gradual exchange approach will afford the opportunity to capitalize on SAFE progress and marketing effort while avoiding the risk described by @andyypants

As we collate and distill the lists of decentralized and centralized exchanges, and collectively rank them, we will be able to simply pick from the lists going from most to least preferred until exchange goals are met for each milestone.

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@Sotros25

If you’re able to, it may be useful to split our replies into a dedicated marketing strategy topic.

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We definitely need to raise funds for this. I’ve been doing some digging and the avg ICO allocates $500K to marketing alone. Massive projects like XEM spend $240K a month (~$3M a year). A budget as big as XEM’s is unrealistic for this project at this time, but hopefully we could collectively raise somewhere close to the vicinity of $500K for exchange listings and marketing initiatives. I know that sounds like a lot; however, not only was the last raise over subscribed, but many people still wanted to contribute.

I’m doing the math on how much marketing initiatives like a code bounty or hackathon would cost. To that end, does anyone know approximately

  • how many lines of code the public testnets would hold?
  • how many bugs on average have been found in previous testnets?
  • how long previous testnets were up?
  • how much devs expect to earn per bug found?
  • the minimum you’d expect to receive for a first, second, third place hackathon finish at a local/city level and at a regional/global level?

Agreed, and that may simplify things. For that matter, would it be possible to automate bounty payouts?

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Yes, but is it worth the effort?
Surely we can get someone trustworthy from the community to send the MAID to the lucky recipients after the bug is marked valid by the devs.
How many actual transactions do we expect? IMHO if it is <100 then its more bother than its worth to automate it.

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The lending round offered potential direct profits in the form of 1.5X returns of MAID on what you paid in. I wonder if there is a way to tokenize this so that people contributing felt more like they were investing then donating. Not sure if there is, but I will deff think about if there is a potential way!

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Agreed. I’m always concerned about ensuring fairness, haha

This is what I’m trying to figure out too. They say there are about 0.5 - 25 bugs per 1000 lines of code. https://software-lab.org/publications/ase2018_static_bug_detectors_study.pdf

My questions above are designed to help hypothesize how many bugs the public testnets might have. If anyone else has another way of trying to back into that number, please share :slight_smile:

Agreed. How might something like that be structured and would MaidSafe (either the company or the foundation) need to be involved? I think the simplest way would be for MaidSafe to hold a marketing specific raise under the same terms as the last one.

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I think the low headache way to do it is just make some ERC20 or Tron tokens and sell them to people. We can say these tokens represent your non-voting shares in this enterprise. However we will make it clear this is like a SpaceX thing. We won’t be profitable for a long time. I could see maybe one day when the Maidsafe company is not struggling for money anymore, we might be the go-to they hire for more marketing efforts. At that point these tokens could turn a profit.

Also we don’t have to raise all the capital selling the tokens to straight up investors. We could use them to reward bug bounties and stuff. I think some people might like the idea better that they are earning a piece of a bigger movement, not just a 1 time payout then scram.

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This would be difficult to do for anyone based in the US. However, if someone in a jurisdiction with a more favorable regulatory environment could do this, that could work.

What would be the selling point? Tokens can be traded 1:1 for MAID (I.e. as value of MAID rises so does the marketing token)? If that were to be the case, an entity would need to currently hold the equivalent value of MAID.

For what other reasons might someone want to hold these tokens?

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Well people do issue tokens all the time, so clearly that’s not illegal everywhere. I am pretty sure it would be legal for me to do from Canada but not 100% sure, like I would have to be to do it.

I thought about schemes like this. In the end though if we make it complicated like that other barriers come up and I think we end up spending all our time making our crazy dr suis machine work :stuck_out_tongue: So what I propose is simply you are buying a piece of our “club” that may or may not one day make money you would earn dividends on, or we just buy back the tokens.

Well for one thing it would be kinda like a badge of honour you helped out X amount in this important issue. If you just found some bugs on your spare time and were rewarded this medal of honor maybe that would be just fine even if they never had cash value.

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That kind of makes me think of Kickstarter rewards. It could be that participants purchase the tokens in MAID or BTC so that the Community Marketing Foundation has the funds in MAID to pay for marketing activities as well as in BTC to pay for exchange listings.

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easiest way is to trade the for the native token of the chain we are using ie ETH or TRON. After that we can just trade them into whatever is most appropriate for what we are doing. But ya I am kinda hyped that maybe people would do work to just earn the tokens and be like there’s something cool for my collection. Like I am not even saying sell this as a penny stock. I am saying sell it as a nothing stock, but if by chance it becomes something good for you lol.

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THat’s cool and will find plenty traction in here BUT… we want a bug-hunters from outside this community as well. The whole bug-hunt thing has two objectives

1 Find the bugs duh…
2 Raise awareness amongst geeks/ pro bug-hunters about the SAFE network itself.

That second population may be less likely to be enthused by a token representing a project that is frankly, not easy to fully explain in 2 minutes and if they don’t get it immediately they may well move on. Plus, it’s in Rust and competent Rust bug-hunters are thin on the ground (well that’s my impression). So despite my earlier call for the bounties to be paid in MAID, on reflection, maybe we need to think about paying them at least partly in BTC or ETH.

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Yes these are great points. Maybe we would have to make it an option do you want us to pay you out now in BTC… or if you prefer to “donate” your time we give you some of these magic beans lol.

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A BTC option would have to exist, as US bug hunters have no real easy way to cash out MAID if that is what they desire to do. It would impede people trying to find bugs if they have no way to get their money.

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That’s likely because @maidsafe offered to double your balance on launch. I was bummed that I missed it and that some still participated after it closing which I I suppose wrongfully respected. If that was offered again I would gladly hand over all of my holdings. Otherwise, unfortunately I have to be conservative.

But I think we’re talking about raising money outside of Maidsafe’s involvement.

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