- POAPs are unique proof of attendance NFTs which will be distributed to Hummingbot community members starting in October 2022.
- POAP collections can also function as decentralized identities, certificate of recognition, & basis for future rewards / airdrop to the community members.
- More DAO communities have given out POAPs to engage with their members.
Paper certificates and tickets are old-school. Digital mementos of various life experiences will be the norm in the future. In fact, POAPs are being gathered by an increasing number of DAO communities in cryptocurrency space.
Proof of Attendance Protocol, or POAP (pronounced poh-ap) for short, are NFT badges which are distributed as evidence of participation at events, whether they occurred digitally or in person. Since each badge is distinct, attending the event is the only method to obtain a certain POAP. Collectors can quickly build up a distinctive collection of POAPs that details their journeys and experiences inside the crypto world.
These blockchain badges are certainly entertaining to acquire, but they also might have more unrealized potential. One illustration is that the quantity of POAPs in a user’s wallet can be used to gauge their level of engagement and time spent in a community. POAPs were utilized by the Bankless DAO to assist in distributing funds. The DAO made the decision to airdrop tokens to wallet addresses that had previously claimed Bankless POAPs, with a bigger share of the airdrop going to wallet addresses with more POAPs.
In addition, an individual’s POAP collection can be thought of as a highly trustworthy, decentralized identity. For instance, POAPs can be presented as blockchain resume for people to prove their expertise and educational background. Employers in the crypto industry can consider a candidate’s POAP collection as a trustworthy indicator of their community involvement when making recruiting decisions. This is specifically applicable for self-governing, community-driven organizations like DAOs, which must make sure everyone working there is in line with the organization’s aims.
We can understand the advantages of providing POAPs to Hummingbot members by looking at the aforementioned cases. This is one of the best ways to show our appreciation for the members’ priceless efforts.
As you already know, the successful Hummingbot Botcamp participants will get POAPs. These POAPs will serve as real credentials that their holders can use to demonstrate their proficiency in modifying the Hummingbot codebase and developing effective, custom strategies. The Python skills and principles learned at the botcamp will also be transferable to more general quantitative and algorithmic programming, making these POAPS relevant as blockchain resumes.
In addition, the distribution of POAPs will be extended to attendance of our Weekly Developer Call and Monthly Community Call. We acknowledged and deeply valued the effort that several of our members have made to consistently attend meetings this year. The time and effort these individuals invested in staying informed about Hummingbot’s progress and activities are equally priceless.
Finally, and is of the utmost importance, is for developers that fixed bugs and made pull requests that enhanced and added functionalities to Hummingbot. In the fierce competitive realm of quant trading in the cryptocurrency space, Hummingbot will remain relevant thanks to the dedication of community developers.
There will undoubtedly be additional POAP distribution opportunities and use cases within the Hummingbot community. For instance, hosting AMA event together with our Certified Exchanges, or launch session for trading competition.
We are eager to put these POAPs distribution into practice, and we welcome the Hummingbot members’ active involvement, feedback, and recommendations.