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StealthBid

Description

This system facilitates job market or task allocation for Decentralized Autonomous Organizations (DAOs) using a submit-reveal scheme. The purpose is to ensure fairness by preventing either party (the DAO or the worker) from knowing the other's budget or offer during the initial submission phase. By introducing privacy-preserving negotiation, this system enhances fairness in task allocation and selection.

Key Components of the System

  1. DAO Proposal for Work

    • Proposal Submission: DAOs submit task or project proposals without revealing the budget.
    • Task Details: Describes the work, required skills, deadlines, and specifications (excluding the budget).
    • Hidden Budget: The DAO’s budget remains hidden until the reveal phase.

  2. Worker Offers

    • Offer Submission: Workers submit offers including their qualifications, timeframes, and a hidden budget (price to complete the task).
    • Hidden Offer: Worker budgets are also encrypted and hidden until the reveal phase.

  3. Submit-Reveal Process

    • Submission Phase: Both the DAO and workers submit their encrypted budgets.
    • Reveal Phase: After a predetermined time, both budgets are revealed simultaneously using a smart contract.
    • Reveal Mechanism: Ensures neither party gains an unfair advantage by seeing the other’s offer beforehand.

  4. Match and Task Allocation

    • Budget Comparison: Once revealed, the smart contract compares the DAO's budget with worker offers.
    • Task Assignment: The system eliminates workers whose offers are not close to the DAO’s budget, and a voting process starts for final task assignment.

  5. Voting and Accepting Applications

    • Voting Applications: When the voting phase starts, DAO participants can vote with their governance tokens for offers.
  • Accepting Applications: The applicating with the most votes will be chosen as accepted and the address associated with it. The rest of the procedure can be made off-chain.

Technical Stack and Architecture

1. Blockchain Layer (Smart Contracts)

  • Ethereum/Polygon: Built on Ethereum or EVM-compatible chains for decentralized security.
  • Smart Contracts: Written in Solidity to handle:
    • Proposal submission (encrypted budgets and timestamps)
    • The reveal process (time-locked simultaneous reveal)
    • Task assignment logic

2. Cryptographic Techniques

  • Shutter Network: To ensure budgets remain private until the reveal phase.

3. Decentralized storage

  • Walrus: Job proposal metadata is persisted on the walrus decentralized storage .

4. Frontend (User Interface)

  • React.js: Provides a responsive interface for DAOs and workers.
  • Ethers.js: Integrates blockchain functionality to interact with smart contracts.
  • Metamask: Enables wallet integration for task and offer submissions.

Potential Challenges and Solutions

  1. Incentivizing Participation

    • Implement a staking mechanism to prevent frivolous proposals and offers, requiring both parties to lock tokens as a commitment to the process.

  2. Task Quality and Verification

    • Use decentralized oracles (e.g., Chainlink) for task verification, or develop a reputation system to evaluate worker performance.

Enhancements and Future Work

  • Reputation System: Implement a decentralized system that rewards workers for successful tasks and penalizes disputes or failures.
  • Dynamic Pricing: Enable dynamic budget adjustments based on task difficulty before the reveal phase ends.
  • Layer 2 Scaling: Consider Layer 2 solutions like Optimism or zkSync for lower transaction costs and better scalability.
  • Implementing the escrow: Give payouts to the accepted submission with the help of smart contracts.