Idena app translation bounty auction experiment: First results and further co-funding

The Idena team announces the first winners of the Idena app translation bounty auction:

• French: @Syd— 890 DNA
• German: @Endogen — 950 DNA

The winners may start doing the translation. The work should be submitted via Github pull request before 0:00 UTC March 7, 2020.

There are several submissions by community volunteers (translations into Croatian, Russian, Ukrainian, Serbian, Chinese) that the Idena team would like to reward with 890 DNA each.

We ask the winners and the volunteers to pm their Idena wallet addresses to @Andrew in Discord.

The winners of the auctions for other languages have not been determined. To make sure translating the Idena app into the suggested languages for the price offered is a need recognized by the community, the Idena team suggests community-based co-funding (inspired by quadratic funding).

Community-based co-funding

Community should decide which proposed work should be funded and which amount of coins should be granted from the Idena foundation wallet. The more Idena validated members support the proposed work (even with small donations) the larger fund will be granted by the Idena foundation (see examples).

Community members vote for the proposed work (for example, app translation) with their donations. The Idena foundation co-funds the rest of the sum.

Total funding = Community donations + Idena foundation co-funding

The Idena foundation co-funding can not be more than 5 times the sum of the collected donations and should be calculated as follows:

R — Required fund for the proposed work discovered with auction bid price
n — Number of donors (Idena validated users)
d₁..n — Donations collected from donors
D = sum(dᵢ) — Community donations

Idena foundation co-funding
F = min( sum(dᵢ ⁰·³³³³³³³)¹·⁶⁶⁶⁶⁶⁶⁶, R-D, 5×D)

Total funding
F+D

You can find calculation examples of Idena co-funding here.

Community donations are accepted until the Total funding reaches the required funding (the minimum auction price for the work). At the same time, anyone can bid the lower price for the auction and do the work with the current fund. Then the auction and donations should be stopped.

Next steps in the app translation

1. The auctions for the languages that are not covered will continue until the auction price meets the Total funding.
2. New languages can be added at any time.
3. Donation wallets for each language suggested should be created by trusted Discord members (custodians).
4. Idena community members (validated identities only) can send donations to the donation wallets until the funding meets the auction best price.
5. Idena co-funds the work adding funds to each wallet according to the Idena foundation co-funding formula.
6. When the bid price is equal or below the total funding for the translation work, the auction participant is considered to be the winner and may start doing the work. They will have a week to submit the results.
7. The Idena foundation sends the matching co-funding to the donation wallet.
8. Once the work is accepted by the community, the donation wallet is unlocked by the wallet custodian.