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Quest Types & Features
With V2, Quest introduces different modes & features to personalize your Quest at creation.
In V2, there is now 2 types of Quests : the Fixed Quests, and the Ranged Quests.
A Fixed Quest is the equivalent to a V1 Quest, with a specific target of votes, and a unique reward per vote amount, rewarding voters until the target is reached. If the vote does not reach its target of votes, a part of the rewards are not distributed (pro-rata of the uncompleted target) and can be either claimed back by the creator, or used in one of the new V2 features (see Undistributed Rewards section).
A Ranged Quest is a new system, similar to dilutive vote incentives, but allowing the creator to specify a minimum and a maximum reward per vote value. Coupled with the total amount of rewards for the period, those 2 reward per vote values will translate into a minimum target of vote, and a maximum target of votes.
Until the minimum target of vote is not reached, all voters will be rewarded with the maximum reward per vote specified. Once the minimum target is reached, and votes still accrue for the Quest, the reward per vote of all voters in the Quest will start reducing towards the minimum reward per vote, until the maximum target of votes. After that maximum reward of vote is reached, no other voter is rewarded, and all eligible voters will be rewarded based on the minimum reward per vote specified.
If at the end of the period, the amount of votes received for the Quest is somewhere between the minimum target and the maximum target, voters will share all of the period total rewards, based on a reward per vote calculated depending on the minimum reward per vote, the maximum reward per vote, and the total amount of votes received on the Quest.
If the Quest does not reach its minimum target of votes, only a part of the rewards are distributed (pro-rata of the amount of vote received), and the rest of the rewards can be either claimed back by the creator, or used in one of the new V2 features (see Undistributed Rewards section).
With Quest V2, instead of having different QuestBoards handling different type of votes, here everything is handled via a single Board for each ecosystem, using 3 different Vote types:
- The Normal Voting type is a basic Quest, where all votes on the gauge are accounted for, and all voters are eligible.
- The Blacklist Voting type allows the Quest creator to specify a list of veToken voters not allowed to receive the rewards from the Quest, and their votes will not be counted for the completion of the Quest objective. Note that the Blacklist only applies to veToken voters, and not for addresses voting using a layer upon the veToken (for example, vlToken voters are not concerned by that Blacklist). The Blacklist can also block a layer built upon a veToken (vlToken, liquid locker, etc ...) and ignore all the votes coming from that layer at once.
- The Whitelist Voting type allows the Quest creator to list specific veToken voters that will be exclusively allowed to receive rewards from the Quest. This system has 2 specific uses :
- List only the veToken Voter contract from a vlToken for example, allowing only the vlToken voters to vote and receive rewards from the Quest
- Make an OTC deal Quest where only 1 or a few addresses listed will be allowed to participate in the Quest, allowing the Quest creator to specify the terms of the deal, and the Voter(s) who can opt-in if the terms are acceptable.
With Quest V1, all undistributed rewards at the end of a Quest period were available for the Quest creator to claim back. With V2, 2 new options are offered for the Quest creator to use the undistributed rewards at the end of each period.
Similar to V1, this allows the Quest creator to claim back the undistributed rewards from the Quest Board.
The Rollover system allows to push all undistributed rewards at the end of a period into the total budget for the next period, increasing the reward per vote of the Quest for the next period while keeping the same target(s) amount of votes. In the case of a Ranged Quest, this will increase both the minimum reward per vote and the maximum reward per vote.
This system requires the Quest Board to be listed to distribute rewards on the gauge linked to the Quest (for most systems, via a Governance or an admin authorization from Curve, Balancer or Bunni). At the end of the period, all undistributed rewards will be directly sent to the gauge to be distributed as extra rewards (as Liquidity Mining) .