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 added to Farcaster channels. Each round has its own parameters and rewards. People can submit by posting in the corresponding channel. Winners are determined using the likes and recasts 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:
Rounds are added to the /nouns channel with a daily 10k $NOUNS reward pool for the people who make memes for the Nouns community.
Round starts.
Channel members can post post their meme creations in /nouns.
Members from the community scroll through submissions and like/recast casts as they naturally enjoy.
Round ends.
Winners are determined by the number of cast likes they received. Rewards are distributed by pro-rata to the number of cast likes received.
Rewards are automatically distributed to winners.
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
Round name
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.
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)
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.
Advanced options
Withdrawer The account permitted to withdraw funds.
Curators. Whose likes count? This is a list of FIDs of which we’ll use likes and recasts from to weigh who should win rewards. It defaults to channel members but can be customized to use token holders or an allowlist of fids.
Round description 2-3 sentences describing the rounds
Moderator address (optional) This address will have the power to hide submissions from the rounds.wtf UI that they deem not valid.
Exempt FIDs (optional) These FIDs can be ignored by our systems so that casts from these accounts are not considered for the round.
Start date and time
How do I deposit rewards into a round?
1. Connect to your Farcaster account but clicking sign in at the top-right of the app while on desktop.
2. Go to your community page at rounds.wtf/[channel_name]
3. You should see an “Admin” button below the corresponding round card. Click admin.
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/NumberOfValidLikes∗NumberOfLikesSubmissionReceived
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:
ETH per valid like: 1ETH/100=0.01ETH
ETH for submission with 3 valid like: 3∗0.01=0.03
Note that this is the very first version of the winners algorithm. Over time, we will improve the formula.
What are invites?
Invites allow channel members to invite friends to the channel in order to grow the channel.
How do invites work?
Channel members can invite friends by casting Inviting @friend_to_invite in the channel
How do I set up invites?
To set up invites for your channels, channel owners create an invite frame via composer actions. In composer actions:
Look for the "Rounds Invite" action
Complete the form
You'll now have an invite frame that you can pin to your channel so members can invite friends!
Note: @roundsalertbot must be added as a moderator for channel invites to work.
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?
Rewards are automatically distributed at the end of the round. Contributors can review their rewards via frames or the rounds.wtf app:
Round frames:
Round frames are pertinent to specific rounds. Contributors can see their rewards by tapping "My rewards".
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.
How 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:
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)
Go to the community channel and click on the round card. You should see the “HIDE” button appear under each submission.
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 day or one week.
Are there any fees?
Yes. Rounds charges 15% of volume.
Example:
If you create a round for $100 USDC, Rounds will ask you to deposit $115 for the round. On distribution, Rounds will distribute $100 to participants and charge $15.
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?
In past versions of rounds, rewards were manually claimed. Currently, all rewards are distributed automatically. If you have any left over rewards from legacy rounds, they can be claimed via the admin page from the address that deposited the rewards.
What chains is rounds available in?
Rounds is currently available on Base, Optimism and Zora. You can run rounds with rewards on any of these chains.
How do I nominate other users?
You can submit other users by posting with the following structures:
nomiante @other_usernom @other_usercredit @other_user
Examples:
Inominate @other_userfor submitting a new PR to fix a bug
Thank you @other_user for submitting the PR to fix the bugnom @other_user@other_user did a great job of fixing that pesky bug!credit @other_user
If you were to post a cast with any of the above structures in a channel that is running rounds, the other user would then start earning rewards as if they have submitted the cast.
Channel tokens
Learn more about launching your own token to reward your channel members here.
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