Building the Future of Finance Open Source and Decentralised
Building the Hive
Open Source development is one of the core values of Honey Finance. We started off building the protocol with a core team that believes in Open Source development to bring a Proof Of Concept to the market; which we are still improving upon in collaboration with our amazing community. With the Solana audit coming close to an end, the launch of the Peer to Contract lending protocol is just around the corner.
This also means the backend programs of the protocol will be Open Sourced in the near future. Keeping all this in mind, we believe it makes sense to communicate our vision for development of the protocol in a short blog article.
The intention of the core contributors team is to build a solid base and decentralise the work afterwards. This makes integrations with partners easier and also offers a base layer of security. This base layer will be audited and there will be a structure in place, as well as proper documentation that other developers can use to build upon the current product, while making sure that quality standards remain high.
In the long term we believe that to scale and secure the protocol properly, it is important to direct incentives to builders beyond our own network. We are advocates of equal opportunity for anyone that is willing and able to contribute.
In this article we will dive deeper into our strategy on how to accomplish this.
Facilitating opportunities for new Hive Contributors
Honey will be one of the first alpha users of OpenQ. The DAO will actively use the features of the platform to provide as many opportunities to our community as possible.
“OpenQ is a permissionless, GitHub-integrated, on-chain work platform tailored for software development feature bounties.”
OpenQ is a bounty platform where anyone can create and fund bounties for any organisation. Once a bounty is created on the platform in the form of a smart contract, linked to a Github issue, anyone can send funds to the contract to incentivise builders to pick up the issue. This functions as an escrow feature to ensure builders understand what their reward is from the outset and are incentivised to complete the work.
By being one of the alpha users of the platform Honey will be able to influence the development of OpenQ itself, not only benefiting our own community but that of the broader space as we contribute to creating the best on-chain platform for development bounties. We look forward to receiving feedback on this from you all!
🛠 View all of our current and future bounties on the link below. Some are already assigned to people that offered to contribute, but there will be more listings in the near future 👀
To claim the funds after the work is completed, the contributor creates a Pull Request on Github to close the issue. Once their Pull Request is merged into the default branch, the contributor will be able to claim the bounty on OpenQ.
Features on the platform include bounties for specific issues (fixed price), hackathon prize splits and Learn to Earn (renamed to split price, but we will keep using it as learn2earn). The first two are self explanatory, Learn to Earn is a feature that rewards developers on a fixed budget every month, split amongst all contributors that learn about our code. An example of this could be adding unit testing to find new edge cases and potential vulnerabilities.
Using OpenQ as a platform for bounty based work will also function as a way for the DAO to decentralise outside of development. In the past the core team decided what did and didn’t have priority; based on limited resources to allocate. Now anyone from the community can create a bounty on OpenQ. If there is a feature you would like to see on the platform (and it has been approved by governance) you can crowdsource a bounty with others that would also like to realise this feature sooner rather than later!
Supply and demand at its finest 😎 🐝
Recognition
Not all devs are purely motivated by money. Many search for meaning, purpose and personal development in their work, as well as striving for recognition and status. In addition to funding decentralised development work we have partnered with GitPOAP to offer anyone that contributes to our code a GitPOAP NFT, short for Proof of Attendance Protocol (NFT). This NFT proves that someone has contributed to the Honey repositories on Github and can be displayed on resumes or other wallet apps.
🐝 Massive shout out to the GitPOAP design team for this amazing design!
For now it’s just a status flex, recognition from the DAO for their efforts and a fun memory.
But one of the brilliant things about web3/blockchain tech and NFTs is that we can:
- offer special access to those that hold the POAP (NFT)
- arbitrarily reward anyone that held one of these during a snapshot
- and is only limited by our future imagination and that of the DAO
Make sure to claim yours if you have already contributed to our Github!
Security
When everything is out in the open and accessible to anyone, at any time, security becomes even more important than with close sourced web2 tech. That being said, security by obscurity only works in the short term.
It is no coincidence that Linux (an Open Source Operating System) is one of the safest Operation Systems (like MAC OS and Windows) and is used as the base for other computer systems. The more eyes and incentives around the code, in theory, results in better security. For every hacker, there are many more devs looking to secure the software that they are using on a daily basis.
A few projects in the web3 space directing incentives towards white hat hackers to protect DeFi protocols at scale are Immunify, Code4rena and HatsFinance.
How Honey will utilise these types of platforms in the future will be shared in a future blog article.
Salute to all our Builders 🫡
Thank you to the giants whose shoulders we now stand on. Thank you to the builders who join us on our current mission, and thank you to the builders that will continue our work long after we are gone. Together pushing innovation and access to simple financial tools to anyone. We couldn’t have done it without you!
