Founders

Hi! My name is Daniel. I am building bountycaster.xyz

Ex Phantom, 0x Project engineer.

From Italy originally, currently live in NYC

I think it's really important to question basic assumptions before launching a product. For example how @pirosb3 and I thought about a new bounties platform when we launched Bountycaster's MVP:

- default assumption is a standalone platform: what if you built on Farcaster to leverage distribution and only existed within a social feed?

- default assumption is take a transaction fee: what if you could launch without smart contracts as peer to peer bounties and monetize in a different way?

- default assumption is users create a structured bounty post: what if users could just write what they wanted and AI automatically processes it?

We obviously don't have everything figured out and are still learning a lot as we go but sharing how we think about early decision frameworks if helpful

Co-founder @bountycaster (bountycaster.xyz). Co-producer @ethereumfilm. Previously co-founder of Scalar Capital and product at Coinbase

Love to see it ! Why didn't you consider taking a small fee to post a bounty?

Trying to be funny | Awarded Filmmaker | 3D Artist - /actors

We might in the future but the most important thing for us IMO when we launched is distribution so we could test these assumptions, last thing we needed is more friction at the start

product design at /basedstudio • exploring better ways to live: health, wealth, identity, states and more • bento.me/mxd

We aren't interested in custodying user funds or handling disputes so it would require decentralized dispute which is a really tough problem at scale

Sharing my thoughts on the regular question *why don't you just take a cut of the bounty earnings?*

1. Business model doesn't scale well for bounties unless you charge a very large % of the earnings. This is what other platforms do and we don't want to do that (e.g. Replit bounties charges a 25% cash out fee on top of payment fees you might pay internationally, even then it's not profitable for them and is likely a loss leader for their core business)

2. You get involved as an intermediary which means you get roped into disputes and have to deal with way more regulatory components. This means hiring a much larger team to handle all the operations + legal complexities which increases burn. Eventually you might be able to decentralize but this is a long process and you'll be involved at the start

3. We take handling user funds very seriously so would add a lot more overhead for us with security

We want to try a different approach with peer to peer markets since Craigslist + Facebook Marketplace make it work

Shared some thoughts here since we get asked that a lot

Shared some thoughts here since we get asked that a lot https://warpcast.com/linda/0xc6208bde

What if you could rather take a fee of the total paid for the bounty

Would have to be an escrow mechanism which makes a lot of sense for the bounties

I understand your point and it's valid. Just trying to think what can help the service you offer as a host