Fellowship formation and Bidding

During this stage, initiators invite bids, form fellowships, and select the best team for the project within the PoLN ecosystem.

At this critical juncture of the PoLN protocol, potential fellowships form to pool diverse expertise, assisting initiators in articulating their project requirements through brief descriptions as they respond to RFPs.

By staking tokens as a sign of their commitment and crafting strategic bids, they compete for the initiator's approval.

This process, encompassing submission, negotiation, and competitive selection, ultimately leads to the start of the project. Embedded within this mechanism is a continuous feedback loop, promoting iterative enhancement and deepening trust within the ecosystem.

Team Formation & Collaboration

Whenever an initiator posts a project, individuals or pre-formed teams can come together to create a fellowship.

At its core, a fellowship must always include a contractor, ensuring there's always someone to execute and deliver the project.

While contractors are pivotal for delivery, agents and mentors, though optional, significantly enhance a fellowship's capabilities.

Agents can facilitate optimal business relations with the initiator, while mentors bring expertise and guidance, amplifying the fellowship's chances of success.

A fellowship might either be a fresh assembly for a specific project or an established team with prior accomplishments.

To foster collaboration, platforms like Discord offer an environment where individuals can communicate, form partnerships, strategize, and delineate the roles and contributions of each participant.

Multiple Fellowship Membership

An individual on the PoLN platform can be part of various fellowships simultaneously.

It's up to the individual to manage their commitments and time effectively across different projects.

This flexibility promotes a dynamic ecosystem where talent can contribute to multiple initiatives based on their expertise and interests.

Staking & Skin in the Game

Fellowships, to demonstrate commitment and differentiate themselves in the bidding process, indicate how much $POLN they're willing to stake on the project.

The minimum staking amount for a fellowship member is set at 10% of the total fees that the initiator will pay for the project.

This staking acts as a strong signal to the initiator regarding the seriousness and confidence of the fellowship in the project's success.

Higher stakes from a fellowship may be perceived as a deeper commitment and trust in the project's potential.

Bid Preparation

After internal deliberations and potentially engaging with the initiator for clarifications, fellowships meticulously prepare their bid.

This bid not only showcases their collective skills and experiences but also outlines the strategic approach they propose for the project. It includes the total amount of $POLN they're willing to stake as a testament to their commitment and any other specific terms or conditions they believe are pertinent.

A crucial aspect of this bid is the clear distribution plan detailing how rewards and fees will be allocated upon project completion, thereby ensuring transparency and setting right expectations from the outset.

To cater to the preferences and requirements of the initiator, fellowships submit their bid in the format agreed upon, whether it be a document, PDF, presentation deck, or any other stipulated medium. This alignment in submission format ensures that the initiator receives the proposal in a manner that's most convenient and effective for their review.

Submission & Negotiation

Fellowships submit their proposals to the initiator after bid preparation.

The initiator can then review all the bids, engage in discussions, seek clarifications, and negotiate terms with one or more fellowship members, ensuring the best fit for their project.

Competitive Bidding & Choice

If multiple fellowships bid for the same project, the initiator has the freedom to select the one they find most suitable.

They can base their decision on various factors such as track records, team composition, staking amount, or any other criteria they value.

This competitive structure ensures that initiators have access to the best talent and proposals.

Bid Acceptance & Project Commencement

The initiator holds the sole authority to accept or decline the bids presented by the fellowships.

If a bid aligns with the initiator's requirements and is accepted, the chosen fellowship is then required to stake their committed amount first.

Following this, the initiator pays the project fees, which are locked into an escrow smart contract, separate from the staking process.

Only when both the fellowship's stake and the initiator's fees are securely locked does the protocol flag the project as officially commenced.

Feedback & Continuous Engagement

As the project evolves, fellowships diligently update the initiator on milestones achieved, challenges faced, or any strategic adjustments being considered.

Regular feedback loops and maintaining open channels of communication, such as through the PoLN Discord server, are essential to ensure alignment, adjust expectations, and maintain transparency between both parties throughout the project's lifecycle.

Additionally, a fellowship's proactive and clear communication approach is often viewed favorably by initiators during the bid review process. Not only does it demonstrate the fellowship's commitment and professionalism, but it also provides the initiator with confidence in the team's capability to manage the project effectively and in alignment with the set objectives.

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This phase of the PoLN protocol ensures that the best-suited teams get chosen for projects and that there's clarity and transparency in roles, expectations, and rewards. It reinforces the platform's ethos of collaboration, trust, and shared success.