JokeRace

Overview

Jokerace is a decentralized contest platform developed by JK Labs, designed for Web3 communities to create and manage on-chain contests. Originating as a part of the JokeDAO ecosystem, Jokerace is now an independent platform with unique functionalities for community-driven voting and decision-making, implemented through secure, modular smart contracts compatible with various EVM-based blockchains like Ethereum, Polygon, and Arbitrum​

Founding and Development

Jokerace was developed by JK Labs, co-founded by David Phelps and Sean McCaffery. Initially integrated with JokeDAO’s broader mission, Jokerace now operates independently, focusing on community governance through contests while expanding its tools for custom voting and reward distribution. The project’s development includes regular audits (e.g., with CertiK) to ensure security and transparency​

Platform Functionality

Contest Creation

Jokerace allows users to create customizable contests by defining entry requirements, submission deadlines, and reward mechanisms. Users can mint unique voting tokens, set eligibility requirements, and determine submission parameters, providing flexible governance for a variety of applications, including bounties, hackathons, and protocol governance​

Voting Mechanisms

The platform supports various voting models, including one-vote-per-token, quadratic voting, and decay voting. These models enable communities to tailor the voting process according to their governance needs. Voting is executed on-chain via minted tokens distributed to participants, ensuring transparency and security​

Reward Distribution

Jokerace integrates a rewards system to incentivize participation. Contest creators can establish reward pools funded with native tokens, which are automatically distributed to winners based on contest-defined allocation criteria. This feature supports financial incentives for participation and is available on multiple EVM chains​

Supported Chains

Jokerace operates on EVM-compatible networks, facilitating low-cost participation in governance across popular chains. Users can deploy Jokerace’s smart contracts on chains like Ethereum, Polygon, and Optimism, ensuring accessibility and scalability​

Use Cases and Applications

1. Governance and DAOs: Communities leverage Jokerace for on-chain governance, allowing members to submit, discuss, and vote on proposals directly within the platform.
2. Grant Allocation: Communities can use Jokerace contests to allocate grants, wherein proposals are submitted and voted upon to distribute funds to preferred projects.
3. Content Curation and Community Engagement: Jokerace facilitates creative curation, such as in art or music festivals, where users can vote on submissions to award prizes and mint winning entries as NFTs​

Security and Transparency

Jokerace’s code is periodically audited by CertiK to address vulnerabilities and maintain a high-security standard. This audit process provides transparency, ensuring that all smart contract implementations are robust and verifiable​

Ecosystem and Governance

While separate from JokeDAO, Jokerace aligns with the same ethos of decentralized, community-driven governance. The ecosystem supports NFT holders and token governance, where JokeDAO NFT holders may participate in Jokerace’s treasury governance and veto processes. This integration fosters a flexible, adaptable model for DAOs and Web3 communities