Every team knows this one guy who always shows up late to meetings, often wasting precious time of all the other participants. E.g. when there are 5 people in the call and just one is 15 minutes late, this means the company might loose a total of 60 minutes of work time.
Primetime requires all participants of a meeting to stake a certain amount of tokens before the meeting takes place. As soon as the meeting starts participants can check-in to get their stake back. If a participant shows up late part of his stake (or the full one) will be distributed among all other participants to reward them for being on time and waiting.
All actions are recorded on chain, thus anyone can see the history of all previous meetings with the respective stake distributions. So, you can also run analytics on how many minutes everybody is late on average.
The modularity of this project makes it easy both to integrate it into existing dapps as well as organizing meetings on the Primetime platform.
We plan to integrate our platform with on-chain video meeting solutions to verify attendance of participants.
The organizer creates a meeting publications on Lens protocol. After that, all participants can join the meeting by collecting the publication and providing their stake. The information about the meeting is stored with Filecoin on IPFS to allow for as much metadata as needed. We use Textile Buckets to upload the data to Filecoin and retreive it using IPFS.
When the meeting starts the timestamp at which each participant entered the meeting is recorded on chain on Polygon. These timestamps are then used to calculate depending on the meeting parameters how much of the stake each participants gets payed out.
In order to pay out the stakes after the maximum waiting time of a meeting has passed we are using the Gelato bot network to call our distribute funds function of the collect module smart contract. This way participants receive their stake and rewards without any additional action by themselves.