FAQ

Overview

Rounds is an easy and fun way for communities to reward contributors. It transforms traditional bounty or grant programs into engaging, interactive experiences that involve the entire community. Through rounds, you can incentivize activity in any category to activate and grow your community.

Frequently Asked Questions

How does it work?

Rounds are created with their own parameters and rewards. Each round runs within a Farcaster channel where contributors can submit by posting in the corresponding channel. Winners are determined using the likes from an allowlist of users set at round creation. Once a round ends, rewards are distributed to the winners.

To better illustrate, below is an example of a typical round timeline:

  1. A round is created to reward 1 ETH to contributors who make memes for the Nouns community in the /nouns channel.

  2. Round starts.

  3. Anyone can come into the /nouns channel and post their meme creations.

  4. Members from the community scroll through submissions and like casts they naturally enjoy.

  5. Round ends.

  6. Winners are determined by the number of cast likes they received. Rewards are distributed by pro-rata to the number of cast likes received.

  7. Winners claim the rewards through round frames or via rounds.wtf/rewards.

How do I create a round?

Heads over to rounds.wtf/add to add rounds to your channel. An explanation of the inputs are below:

Inputs

  1. Round name

  2. Channel Where will the round be held? You should be the host of the channel. Otherwise, please make sure you have permission from the channel hosts.

  3. Filter: “all casts”, “media”, “mints”, “tags”:

All casts means exactly that: all casts will be eligible for rewards.

Media means that only casts with attached media will be eligible (ie casts with photos, videos or gifs)

Mints means that only casts with attached Zora links will be eligible

Tags mean only casts with specific word(s) will be eligible (eg “based is”, “#party”, etc)

  1. Rewards. This is the total rewards that will be distributed to users who post in your channel and receive likes from eligible users. Please provide the contract address and amount. We currently support Base & Zora chain tokens.

  1. Curators. Whose likes count? This is a list of FIDs of which we’ll use likes from to weigh who should win rewards. Please provide a token address so we can extract the top holders FIDs. Alternatively, you can provide a list of addresses or FIDs for us to use.

Advanced options

  1. Round description 2-3 sentences describing the rounds

  2. Moderator address (optional) This address will have the power to hide submissions from the rounds.wtf UI that they deem not valid.

  3. Exempt FIDs (optional) These FIDs can be ignored by our systems so that casts from these accounts are not considered for the round.

  4. Start date and time

How do I deposit rewards into a round?

1. Connect your wallet by clicking the “Admin” button on the bottom left of the screen (below the communities column)

2. Go to your community page at rounds.wtf/[channel_name]

3. With your wallet connected, you should see a “Deposit” button below the corresponding round card. Click deposit.

Who can submit?

Anyone with a Farcaster account is welcome to submit to any round.

How do I submit?

Anyone can submit by posting into the channel where the round is being run. Some rounds have certain filters which would require the poster to add media, a mint or even a tag to their cast for it to be valid.

What are the guidelines to submit?

Each round will have a set of instructions to follow. You can find this by going to rounds.wtf and searching for the channel in which the round is being run. The round card will display more info that will guide you in what to post.

How are rewards determined?

Rounds uses cast likes from curators - a preselected set of users set at round creation to determine winners. These users can be any set of FIDs. Usually, they are the top 100 holders of the community token. Throughout the round, rounds collects the likes from the curators to determine winners. Once the round ends, the rewards for any particular submission is calculated as follows:

RewardPool/NumberOfValidLikesNumberOfLikesSubmissionReceivedRewardPool/NumberOfValidLikes*Number OfLikesSubmission Received

An example for a submission that received 3 valid likes in round with a 1 ETH reward pool that had 100 likes across all submissions:

  1. ETH per valid like: 1ETH/100=0.01ETH1 ETH / 100 = 0.01 ETH

  2. ETH for submission with 3 valid like: 30.01=0.033 * 0.01 = 0.03


Note that this is the very first version of the winners algorithm. Over time, we will improve the formula.

Why hasn’t my submission shown up on rounds.wtf?

There are two reasons for which your submission might not be showing. Usually, this is due to your submission not having valid likes. Remember that only likes from curators count. See the How are rewards determined? section for more info. The other reason why your submission might not be showing is because a moderator might have disqualified your submission.

How do users claim rewards?

Users can claim rewards through round frames or rounds.wtf/rewards.

Round frames:

Round frames are pertinent to specific rounds. Once the round ends, winners can click the "Claim" button on the frame to have their rewards sent to their specified address.

Rounds.wtf/rewards

Through the rewards page, users can sign in and view all rewards they have earned in any round. This is a great complement to frames as they encompass all rounds as opposed to just one. In case you ever missed a reward, you can find past rounds here.

Where do the rewards come from?

Rewards can be deposited from any account. Usually, rewards come from a community treasury or an ecosystem allocation from the token supply.

As a round creator, can I moderate a round?

Every round can have moderator(s) to curate rounds further. Moderators can disqualify any submission. They are set at round creation. To moderate:

  1. On desktop, connect using the admin button on the bottom left of the rounds.wtf page (make sure you connect using a moderator address and connected to mainnet ethereum network)

  2. Go to the community channel and click on the round card. You should see the “HIDE” button appear under each submission.

  3. To hide, click hide and sign the message.

How long can a round run for?

Rounds can run for any amount of time. The default is one week.

Can I use rounds as a token distribution mechanism?

Yes! You can use the current rounds to set up the same round back-to-back to have one "perpetual round". We will be launching a more appropriate version of perpetual rounds soon. Perpetual rounds will allow you to deposit any amount of your token (eg 10% of the entire supply) and distribute it over years if you'd like.

What happens to unclaimed rewards?

Depositor of rewards have the right to close claiming and withdraw any leftover rewards at their preference. This usually happens after 1 month of the round rewards being available.

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