Design your own HaloFi Savings Challenge!
Our savings challenges are a great way to motivate yourself to save more money and earn rewards at the same time. But did you know you can create your own custom challenges on HaloFi? Well you can, and it’s easy-peasy!
Just pop over to the HaloFi Snapshot page and submit your own proposal anytime after April 19th (9 am UTC). Once it’s up, our awesome community will have 10 days to cast their votes.
To see your challenge come to life on the HaloFi website, you’ll need to gather a majority of YES votes and a whopping 500,000 GG voting points (that’s right, you gotta reach quorum). If you rake in enough votes, the HaloFi team will give your proposal a thorough once-over to make sure it’s all in line with our guidelines (check ’em out at the bottom of this blog post).
And guess what? If everything’s shipshape, the smart contract will be deployed on your chosen blockchain, and your shiny new challenge will be proudly displayed on the HaloFi website under the Unique Challenges section. So, what are you waiting for? Let’s get this party started!
Benefits of creating a Challenge on HaloFi
Creating a savings challenge offers a unique opportunity to engage with the HaloFi community and inspire others to save money. Not only will you be making a positive impact, but you’ll also receive rewards for a successful challenge proposal!
Upon the publication of your challenge on HaloFi, you will earn the prestigious Challenge Angel HaloFi badge and the Challenge Angel Discord role, giving you access to some of our private channels. 🎉
On top of those sweet perks, creating a savings challenge lets you have a blast personalizing it to match your own style. Why not dive into the world of new tokens and put the spotlight on some super cool projects within the Celo or Polygon community? By doing this, you’re not just mixing things up for HaloFi users, but you’re also making your very own mark. How awesome is that?
So, go on, get your creative juices flowing and let’s see what amazing savings challenges you come up with!
The Golden Guidelines for Crafting Challenge Proposals
To make your savings challenge proposal shine and be considered for publication, just follow these nifty guidelines:
- No copyright infringements. Sorry, no Harry Potter challenges or copyrighted artwork allowed!
- Keep it clean. No bad language, abuse, or discrimination.
- No APY promises.
- Originality is key: No blatant copying of other proposals.
Your Step-by-Step Guide to Submitting a Winning Proposal
You want to submit a Challenge proposal? Great! Here’s how you can make your challenge a success:
- Click here, to duplicate our template proposal on the HaloFi Snapshot page.
- Fill in the necessary details
- Name and description: Unleash your creativity.
- Network: Choose between Celo or Polygon.
- Pool Type: Savings or Hold. Pick a Hold Challenge for a one-time deposit and a longer waiting round, or a Savings Challenge for multiple deposit moments.
- Deposit currency: Select the currency users will deposit in your challenge. Must be a token on our supported networks (Polygon or Celo), follow the ERC20 standard, be non-rebasing, and have no fee-on-transfer functionality.
- Allow flexible deposits? If yes, everyone joining the challenge can chose their own deposit amount. If not, deposit amounts will be fixed to an identical amount for every participant.
- [Only needed for Fixed deposit amoutnts] Deposit amount: Set the regular savings amount, or the one-off deposit amount for a Hold challenge. Up to $50k per invidual deposit.
- Total number of deposits and their frequency (e.g. a total of 6 deposits, one every week). Only needed for Savings Challenges. The minimal deposit number is two, and the minimal frequency is daily.
- Yield strategy: for example Aave, Moola, Curve or Open. Choose from the full list in the documentation.
- Early withdrawal fee: Set the percentage (between 0–99% and a whole number) charged when a player exits the challenge early. The higher the fee, the more daring your challenge!
- For HOLD challenges only, decide the length of the deposit and waiting round (minimum duration: 1 week, maximum: 6 months). For example, two weeks to make your initial deposit, followed by an 8 week waiting round.
- NFT design (optional). Feeling artsy? Design your own NFT. We’ve prepared a HaloFi asset folder and a Canva file to help you create graphics.
- Sponsorship (optional): Generously sponsor your Challenge with extra tokens, if you’d like. These are to be provided by you at the start of the Challenge, or when certain milestones are met.
- Discussion thread (optional): Share a link to your Discord forum discussion thread.
- Contact link: Provide an email, Discord, or Telegram handle, so we can reach out if you win a prize or the technical setup needs clarification.
Why should I vote on Challenge proposals?
By voting on challenges, you actively contribute to shaping the HaloFi community and supporting creative ideas that inspire savings. Plus, as a token of our appreciation, we’ll distribute Galxe OAT tokens (On-chain Achievement Tokens) to those who cast their votes on proposals via our Snapshot page. So, don’t miss out on this opportunity to make a difference and earn rewards!
How can I vote? And what are GG Voting Points (GGVOTE)?
Voting takes place on https://vote.halofi.me. Just like in our first round of Community Governance, your votes will be NFT weighted. Yes, that means you can put to good use all those HaloFi NFTs you have been collecting. The more HaloFi challenges you have completed, and the more Badges you have minted in your wallet, the more voting power you get. The voting power, also called GGVOTE, largely corresponds to your existing GG Score. You can check out the NFT vote weightings here.
To submit a proposal you will need a vote weight of at least 5,000 GGVOTE. However, anyone with any number of GGVOTE can vote.
Conclusion
Now that you know the ins and outs of creating and voting on challenges, it’s time to dive in and make your mark on the HaloFi community! Whether you’re proposing an exciting new challenge or casting your vote to support others, you’re contributing to a more diverse and engaging platform. So, go ahead, unleash your creativity, and let your voice be heard!
