Key Features of Budget Accounts
- Permissioned Fund Usage: You can grant specific permissions for fund usage within Boost, ensuring controlled and secure distribution of rewards.
- Direct Contract Incentives: Budget accounts enable direct incentivization of contract interactions, creating a seamless reward experience for users.
- Complex Automation Strategies: Leverage budget accounts to implement sophisticated automation strategies for reward distribution.
- Team Coordination: Budget accounts provide a centralized way for teams to coordinate their on-chain incentives towards common goals.
Setting Up a Budget Account
- Choose the token you want to use for rewards
- Determine the total budget for your campaign
- Set permissions for fund usage
- Allocate funds to your Boost V2 budget account
Managing Your Budget
- Monitor Usage: Keep track of how quickly your budget is being depleted
- Adjust Allocations: Reallocate funds between different Boost campaigns as needed
- Automation: Set up automatic top-ups or adjustments based on predefined conditions
Advanced Strategies
- Multi-tier Rewards: Use budget accounts to create tiered reward systems based on user actions or engagement levels.
- Cross-contract Incentives: Incentivize complex user journeys that span multiple contracts or protocols.
- Dynamic Reward Adjustment: Implement algorithms that adjust reward amounts based on real-time on-chain data or market conditions.
- Collaborative Campaigns: Coordinate with other projects to create joint incentive programs, pooling resources for greater impact.
Best Practices
- Start with a smaller budget to test and refine your Boost parameters
- Regularly review analytics to understand the ROI of your campaigns
- Implement safety measures like spending limits and alert systems
- Ensure transparency with your community about how rewards are funded and distributed