Main Points Related to Bitcoin, web3, Ethereum, and cryptocurrency:
- 1inch DAO voting on allocating $150,000 in USDC for web3 education platform
- Proposal for bug bounty platform to test web3 products
- xcrwd to develop platform with $150,000 budget
- Platform to include bug tracker for rewarding user contributions
- Development timeline for platform extends to 2024
- Overwhelming support for proposal with 99.4% in favor
1inch DAO Voting for Web3 Education Platform Development
The governance DAO of finance protocol 1inch is currently voting on whether to allocate $150,000 in USDC to develop a platform aimed at educating newcomers in web3 technologies. The proposal also includes creating a bug bounty platform for beta testing web3 products, with 1inch being the first product to be listed on it.
Development of Bug Bounty Platform by xcrwd
According to the 1IP-56 proposal, the bug bounty platform will be developed by xcrwd, a semi-anonymous Russian team of coders. The platform is set to receive $150,000 for development, community management, and project needs, with a portion of the budget allocated for rewarding platform contributors. xcrwd founder Danya, who claims to work at 1inch Labs, highlighted the platform’s bug tracker as a key feature for user reports and rewards.
Budget Allocation and Development Timeline
Out of the total budget, xcrwd plans to spend approximately $130,000 on backend and frontend development, smart contract integration, and design aspects of the platform. The development timeline spans until 2024, with voting on the proposal scheduled to conclude on Jun 15. Current snapshot data shows overwhelming support for the proposal, with 99.4% in favor and only 0.58% opposed.
