HEROES: A Revolutionary Shift in Work Coordination
An In-depth research on the current bounty marketplace landscape and how HEROES can fit into the scene as a breakthrough innovation.
We know you might be thinking: “Another bounty marketplace?” But why not, especially if it addresses the dry spots of the current offerings.
In the ever-evolving landscape of Web3, where decentralisation and blockchain technology redefine traditional paradigms, a new hero emerges — HEROES, the groundbreaking non-custodial bounty marketplace built on the NEAR Protocol. As the Web3 frontier continues to expand, the need for efficient and trustless work coordination platforms becomes paramount. HEROES steps forward as a comprehensive solution, transforming the way we collaborate, create, and engage in decentralised tasks, catering to the needs of both the projects and service providers.
This article embarks on a comprehensive exploration of HEROES’ distinctive attributes, juxtaposing them against prominent platforms like Gitcoin, Immunefi, Fiverr, Upwork, and Bepro Network. Through this lens, HEROES asserts why we are confident the NEARWEEK-incubated non-custodial marketplace can stand alone as not only a bounty marketplace but a go-to decentralisation work coordination platform redefining how work is organised, executed, and rewarded in the digital age.
- HEROES redefines task-based payments using smart contracts, offering trust, transparency, and seamless transactions on the NEAR Protocol.
- HEROES presents a more comprehensive and innovative offering to competitors like Gitcoin, Fiverr, Immunefi, Upwork, and Bepro with its unique features like escrow contracts, KYC verification, and dispute resolution.
- Built on NEAR with Nightshade sharding, HEROES handles large task volumes efficiently, further addressing limitations in other platforms.
- HEROES’ Service DAO contract empowers diverse task coordination, fostering collaboration and efficiency among teams.
- HEROES pioneers a secure, decentralised work coordination era, setting new standards for trust in the Web3 landscape.
Why We Built HEROES: A Comparison with Existing Marketplaces
Decentralised work coordination is a growing industry, especially within Web3 with more and more projects, often small-sized, offering bounties for tasks such as bug fixing, research, and marketing. However, the existing platforms are not without their flaws. Traditional work coordination platforms often lack transparency and trust, with intermediaries adding complexity and costs. Additionally, they can be centralized, censored, and not very user-friendly.
In light of these limitations, the need for a versatile platform like HEROES has become imperative. HEROES seeks to address these shortcomings by creating an ecosystem where job seekers and providers can collaborate efficiently without intermediaries, thus fostering an environment of trust and efficiency.
HEROES & Gitcoin: Scaling New Heights
Gitcoin has carved its niche by championing open-source projects, originating as a platform that provides backing to such projects and software through bounties. The platform’s uniqueness is underscored by its implementation of quadratic funding, a model that employs a mathematical algorithm to allocate greater funds to projects garnering extensive community backing. Established as one of the prominent bounty marketplaces in Web3, Gitcoin has transitioned into a grant system to support projects more comprehensively. In contrast, HEROES takes a divergent path, assisting projects in sourcing talent for specific tasks within their organisational framework. Additionally, Gitcoin’s ascent may be hindered by Ethereum’s scalability constraints. Enter HEROES, fortified by NEAR Protocol’s Nightshade sharding, scaling new heights in processing tasks with unprecedented efficiency.
HEROES’ innovation lies in its escrow bounty contracts, setting the stage for secure and transparent transactions. This distinctive feature eliminates the need for intermediaries, thus enhancing security and trust. In contrast, Gitcoin’s reliance on third parties raises concerns about transaction transparency and data integrity.
Furthermore, HEROES introduces innovative features such as Service DAO or Reviewers, fostering comprehensive task delegation. Unlike Gitcoin’s project-centric approach, HEROES empowers users with a flexible framework to coordinate and execute a diverse array of tasks.
HEROES & Immunefi: Expanding Horizons
Immunefi has earned acclaim for its specialisation in bug bounty programs, especially security bounties. This focused approach encourages specialisation among developers and projects, establishing a dedicated platform where expectations are clear. In contrast, HEROES takes a more comprehensive approach to work coordination. By catering to a wider array of skills and talents, HEROES serves as an all-inclusive one-stop talent hub, accommodating diverse project needs under a single platform. To further innovate, HEROES’ Know Your Customer (KYC) verification mechanism introduces an essential layer of trust, minimising the risks of fraud and impersonation.
The HEROES ecosystem thrives on a reputation management system, rewarding consistency and reliability. This holistic approach to reputation stands in stark contrast to Immunefi’s security-centric orientation, signalling a comprehensive commitment to work coordination.
Additionally, HEROES’ dispute resolution system embodies fairness, ensuring that disputes are addressed with impartiality — a facet notably absent from Immunefi’s framework.
HEROES & Bepro Network: A Holistic Ecosystem
Bepro Network is another Web3 bounty marketplace with an emphasised focus on decentralised development and developers. This specialised orientation towards a singular niche allows HEROES to stand out through its comprehensive holistic approach. Anchored in NEAR Protocol’s scalability, HEROES creates an ecosystem encompassing KYC verification, reputation management, and dispute resolution.
HEROES’ scalability is fortified by NEAR’s sharding technology, consolidating its position as an efficient platform for work coordination. In contrast, Bepro’s concentration on development bounties falls short of HEROES’ comprehensive range of offerings.
HEROES & Fiverr: Elevating Collaboration and Trust
Fiverr operates as a Web2 bounty marketplace, facilitating seamless interactions between buyers (including projects and individuals) and sellers (freelancers). Sellers, who are registered on the platform, can engage with buyers by advertising their services and negotiating project terms. Fiverr not only serves as a marketplace but also assumes the role of an intermediary in the contractual relationship between buyers and sellers.
Functioning as an escrow platform, Fiverr securely holds funds designated for tasks or projects on behalf of both parties, bolstering trust and ensuring fair transactions. Additionally, Fiverr offers a dedicated dispute resolution portal, providing a space for buyers and sellers to address concerns or report any discrepancies in a structured manner. But like most Web2 platforms, centralisation becomes a problem, raising transparency and security concerns. HEROES emerges as a beacon of trust in the decentralised sphere, leveraging NEAR’s architecture for secure, trustless smart contract transactions.
HEROES’ escrow feature is particular in that it is trustless, eliminating an intermediary and any concerns about security. It incentivises task completion and safeguarding against the vulnerabilities inherent in centralised models like Fiverr.
The versatility of HEROES is embodied by its Service DAO contract — a mechanism for task delegation that fosters a collaborative environment. In contrast, Fiverr’s individual-centric model lacks the synergy that HEROES nurtures among larger teams.
HEROES & Upwork: Forging Secure Collaborations
Similar to Fiverr, Upwork is a Web2 work marketplace where users can find talent for their projects, or post tasks to attract offers from interested freelancers. Upwork has steadily grown to be one of the most trusted work marketplaces by developing tailored journeys for both project owners and freelancers, with the platform acting as an intermediary that guarantees security, safety, escrow, and resolution of disputes. However, the centralised nature of platforms like Upwork continues to make it vulnerable to security breaches. HEROES leverages its decentralised architecture to provide a secure environment for transactions through its escrow bounty contracts.
Beyond security, HEROES introduces a comprehensive dispute resolution system, a feature that is limited on Upwork. The Service DAO contract on HEROES facilitates collaboration, fostering a secure and efficient work environment that Upwork struggles to achieve.
About Fees: Building a sustainable business model
In the dynamic realm of bounty or job marketplace platforms, fee structures hold significant sway in shaping platforms’ sustainability and the experience of both creators and contributors. An effective fee model supports marketing endeavors, attracting fresh talent and expanding platform influence while acting as a quality control mechanism.
At HEROES, we understand a reasonable fee system will have a tremendous impact on whether users choose to use the platform or not. Still, as a project & startup, we also need to think of a sustainable business model that can keep us fueled for the long run.
As of now, fees on HEROES are 10% & are charged on the bounty hunter’s side. We know you might find this reasonably high, but after much discussion and research, we found 10% is the standard rate for similar web3 platforms and relatively low compared to web2 platforms.
However, the #1 priority for us is still users & users’ experience. We’d love to learn your opinion on the fees; please reach out to us here to send feedback!
A New Era of Work Coordination
HEROES is emerging as an integral thread in Web3’s tapestry, weaving a narrative of decentralised work coordination. Its escrow contracts, KYC verification, and all-encompassing features set it apart from its counterparts.
Powered by NEAR Protocol’s sharding innovation, HEROES not only champions efficiency but also pioneers a new standard for trust in the Web3 era. As the boundaries of collaboration, security, and transparency are redefined, HEROES stands at the forefront of this revolution. With each transaction and task, it propels creators, collaborators, and the entire digital ecosystem toward an uncharted future of decentralised work coordination.