The Ta-da platform connects users, smart contracts, and other components to ensure tasks are completed and rewards are distributed efficiently. This system is designed to be user-friendly, with all blockchain interactions being completely transparent to the users thanks to an integrated crypto wallet.
This initial step in decentralization focuses mainly on securely decentralizing user funds. This is done through two smart contracts:
Deposit Pool
It holds the users' tokens linked to the app. These tokens are used to lock deposits when participating in various tasks and for the entire in-app economy (buying, selling, etc.).
The wallet integrated into the mobile app communicates with this smart contract seamlessly for the user.
Users can deposit new tokens at any time. They can also withdraw them, but since the smart contract does not know how many tokens are locked as deposits (this information is currently held on the backend), withdrawals are only processed after backend verification. A recent improvement has implemented automatic token withdrawals directly within the smart contract after an unanswered request from the backend. This further reduces the backend's power.
This smart contract also allows the backend to slash users. When a user loses his deposit due to an invalid task, the backend calls the contract's slashing method, which removes the amount of his deposit and partially transfers it to the prize pool.
Prize Pool
It collects and manages the tokens in the prize pool.
When multiple tasks are completed, the backend triggers the purchase of tokens on the market and sends them to the prize pool.
It also receives tokens from user slashing.
It distributes rewards each week.
Below is a diagram illustrating the general workflow:
Here is a detailed summary of how the Ta-da platform operates:
Users join and deposit tokens: Users earn token by completing tasks or depositing tokens into the Deposit Pool to participate in tasks.
Tasks completion and validation: Users complete tasks, such as recording audio samples or participating in social media marketing activities. The backend processes and validates the results of these tasks.
Rewards and slashing mechanism:
Valid tasks: If a task meets the set criteria, the backend triggers the transfer of rewards to the Prize Pool for distribution to the users. At this stage, the injected tokens are purchased on the market.
Invalid tasks: If a task is found invalid, the user's deposit is slashed, and the deposit is partially transferred to the Prize Pool.
Rewards distribution: The Prize Pool distributes rewards to users based on their contributions and
Fund management: Funds from jobs provide rewards to the Prize Pool. The backend system also approves withdrawal requests and manages the slashing and reward processes to ensure fairness.
Withdrawal: Users can request to withdraw their tokens from the Deposit Pool. The backend approves these withdrawals, ensuring users can access their funds when needed. Fees may be charged for transactions.
This structured workflow ensures that tasks are managed efficiently, rewards are distributed fairly, and user interactions with the platform are smooth and secure. Users benefit from an easy-to-use system where their contributions are rewarded, and their funds are safely managed across both the Ta-da protocol and their personal wallets.
