One month ago, Gitcoin launched Kudos.
Kudos is an easy way to show appreciation and build relationships in open source. This is done simply — through sincere, unique compliments.
We’re launched Kudos because to create space for all sorts of compliments for Gitcoiners. Two months later, you’ll find 150+ unique ways you could compliment a co-worker for less than $2 on the Kudos Marketplace. Creating this space is important to us for a few reasons.
Each Kudos is a unique work of art.
Gitcoin is the easiest way to monetize or incentivize work in Open Source Software.
1. Amazing People We’ve Worked Alongside
I’ve worked with amazing people during my fifteen years as a professional technologist. For each and every co-worker, there are specific things about them that I cherish.
On many of these teams, when we ship something new and great, we’d go out and celebrate our time in the trenches, and celebrate each other. Kudos brings this ethos to open source, distributed teams.
Here’s a Kudos that’s inspired by my teammate, Gitcoin Product Lead Alisa March. Alisa is consistently pushing forward Gitcoin with new designs, product ideas, and mockups that make us think.
2. The Need for Intrinsic Motivation
Open Source has historically been a very intrinsically motivated pursuit. Software enthusiasts spend their free time working nights and weekends on software — artists more interested in honing their craft than making a profit.
Gitcoin’s first product, the Gitcoin Issue Explorer, has pulled Open Source Software development into a more extrinsic direction. Because our primary product is a financial reward for open source, it’s created a culture of extrinsic motivation for working on tasks.
Kudos is designed to pull our community back in the direction of intrinsic motivation.
How The Kudos Compliment Machine Works
Kudos is a triple sided market.
- Artist create art work.
- Senders purchase it from them, and send it to recipients.
- Recipients showcase it on their profiles + Ethereum wallets
The economics of sending Kudos
The median bounty on Gitcoin is $170. The median Kudos is $0.40. Because a Kudos is a nominal expense relative to the bounty, we’ve seen that 45% of payouts have included an attached Kudos.
If there is a monetary transaction being sent on your platform, it’s possible sending a Kudos is a small add-on, especially for the value it delivers!
The economics of creating Kudos
The median Kudos costs $0.40 and has done a production run of 400 Kudos.
90% of the ETH associated with the purchasing of a Kudos goes directly to an artist, this means there is a potential upside for an artist of $0.40 x 400 = $160 per kudos. 10% of the ETH associated with the Kudos goes to Gitcoin.
Announcing Open Kudos
I am thrilled to announce today that we are opening up Kudos for integration into any dApp!
We plan to make our entire inventory of 150 (and growing) Kudos available for any dApp to introduce compliments to their community.
We believe that the Kudos launch has been validated by the 300+ transactions we’ve seen since launch, and we look forward to seeing Kudos evolve to be a wonderful vessel for the Ethereum community and beyond.
Kudos are at their core, compliments. Compliments go beyond just Open Source Software projects. We believe compliments are a core primitive of relationships made on the internet, beginning with those built on Ethereum.
We also plan to distribute half of our 10% cut of each Kudos purchase to the platform that generate these purchases. If a Kudos of any kind is sold on your website, you receive a 5% fee for bringing that compliment to bear.
Why Integrate Kudos
Kudos can be used to bootstrap a few things on your platform.
- Intrinsic motivation by exchange of sincere compliments for well-done work
- Reputation Lite: Information on who is receiving kudos and sending kudos helps determine leaders on your platform
- A warmer, healthier, happier community
Platforms receive (a) increased engagement, (b) reputation data, (c) a small amount of profit for bringing the platform to bear.
When we have a chance to make distributed, open workplaces more fun… Why not? 🙂
An FAQ to integrate Kudos
See the wonderful FAQ below which will help you integrate Kudos and answer a few other questions you might have.
How do I integrate Kudos into my dapp?
Adding Kudos to your dapp is an easy four step process.
- Click here to register your interest.
- Checkout the gitcoinco/Kudos721Contract github repo, and download the abi of Kudos.
- Hook the Kudos contract you cloned in step 2 to the Ethereum Mainnet at 0x2aea4add166ebf38b63d09a75de1a7b94aa24163
- Use the smart contract you instantiated in #3 in your dApp!
I have an idea for a Kudos. How do I get one created?
Fill out a Github Issue here.
I am an artist and I want to create a kudos, can I?
Kudos are a recurring revenue stream for artists. Anyone can create a kudos, To create a new kudos, click here and follow the instructions.
I have a technical question about Kudos.
To follow the OpenKudos initiative, watch OpenKudos on Github, or read more here. To get in touch with the Gitcoin team, email firstname.lastname@example.org. We’re excited to have you on our journey to making an inclusive, enjoyable future of work for open and distributed teams.
PS — Thanks for reading to the end of this article. Kudos to you!