Bounty0x (BNTY) - Rewarding the Token Economy



  • In 2017 blockchain entrepreneurs raised more funds through initial coin offerings
    (ICOs) than through traditional venture capital investments. So far in 2017, blockchain
    entrepreneurs have raised over $1.5 bln through ICO offerings and even exceeded the funds
    raised through VC’s in the months of June and July. This will only continue to grow in 2018
    and beyond. Startups are accordingly relying even more on bounty programs in conjunction
    with upcoming ICO's to accomplish pre-ico tasks.
    A bounty program is an offer made by many startups, websites, and software
    developers which enables individuals to receive recognition and compensation for
    performing marketing tasks, reporting bugs or improving a product/service. Bounty programs
    are also a frequently used tool used by ICO startups. Examples of bounties frequently
    posted by ICO startups include posting on social media, posting on blogs and performing
    translations. Usually, startups reward contributors with the startup’s own tokens.
    Bounty0x was conceived as a district0x proposal and was selected among the top
    four district proposal. The proposal is currently being voted upon in order to become the next
    district which will be built on the district0x platform. The bounty0x.io platform will eventually
    migrate over to the district0x network platform when the d0xinfra protocol is ready, and at
    such time enable DNT token holders to stake their DNT in order to take part in bounty0x.io
    platform governance.
    Startups are currently paying bounty managers between $2-4k in ETH or BTC to
    manage their campaign, plus a percentage of the startup's own token. Our platform is going
    to slice this cost by over 80 percent, creating economic incentive for startups to join
    bounty0x’s platform in order to save time and money managing their bounty campaigns.
    Furthermore, bounty0x will enable pre-ico startups the ability to pay and allocate a portion of
    ico tokens to bounty hunters, in advance of their ico.

    Vision

    In the short term, we will develop a decentralized platform where bounty hunters will
    be able to receive payment in tokens in exchange for completing bounty tasks for ICO
    startups. With hundreds of new blockchain startups being formed and holding ICO’s every
    month, this is already a very significant market. Startups will benefit from being able to
    harness the power of thousands of bounty hunters who are interested in performing tasks in
    exchange for payment in their native tokens.
    Our ultimate goal is to increase the efficiency of industries that would benefit from a
    decentralized workforce and bounty-oriented reward model.

    1. Online marketing

    Banner advertisements are losing effectivity due to a fenomena known as “Ad
    Blindness”. On the other hand, influencer marketing on social media and blogs is exploding
    in popularity. Our platform brings influencer marketing to the crowd by allowing anyone from
    anywhere, to endorse brands through our marketing bounties.

    2. Software development

    Bugs and security issues are a growing pain in our digital world. A small team of
    developers might miss a bug that could potentially be disastrous for a company. Security
    audit firms charge astronomical sums for their services and startups often want to get a
    second or third opinion. Our platform enables startups to expose their code to thousands of
    programmers that carefully analyze and review it. Bounty hunters only receive a reward if
    they actually find a vulnerability.

    3. Consulting

    Adapting to the latest industry trends is a big challenge for global consulting firms. It
    often involves extensive training of their employees and the hiring of new ones. This is an
    unsustainable process in a world where industries change at an accelerating pace. We
    believe that the solution to this problem is to completely decentralize the consulting industry.
    On our platform, Bounty Hunters can submit improvement suggestions and solutions to
    highly specialized business situations.


    ● 500,000,000 BNTY tokens created
    ● 250,000,000 tokens or 50% of total supply will be sold during our contribution period
    and distributed among participants after completion of the contribution period. Any
    unsold tokens will be burned.
    ● 7,812,502 or. 1.5625% will be distributed during the pre-sale at a price of at $0.0320
    each. A total of $250k will be raised during the pre-sale. Any unsold tokens during
    the pre-sale will be burned.
    ● 150,000,000 or 30% will be distributed among the founding team to provide a healthy
    incentive for the future development of the platform. Tokens for founders will vest
    over 2 years, with a 6 month cliff (or 1st cliff at 6 months, then monthly cliffs spread
    equally over remaining months).
    ● 88,187,498 or 17.6% will be retained by Bounty0x for a future contribution periods
    (upon approval of all advisors and subject to reaching key platform milestones), and
    to provide incentive for future employees, and community rewards. This includes the
    compensation of future team members, community advisor participants, and bounty
    participants. 6 month vesting period.
    ● 4,000,000 or 0.8% of supply will be used for advisor compensation. Tokens for
    advisors will vest over 6 months, with a 3 month cliff.
    ● The main contribution period will begin on December 1st, 2017.

    ● Participants willing to contribute to and support development of bounty0x.io can do

    so by sending ether to the designate address.
    ● Contribution address will be bounty0x.eth

    Development Roadmap

    Q4 2017

    - Automate review process of twitter and facebook bounties.
    - Add public list of upcoming bounty campaigns
    - Assign a unique URL to every bounty campaign.
    - Allow anyone to create a bounty campaign.
    - And some more surprises...

    Q1 2018

    - Allow anyone to stake BNTY in order to review bounty submissions
    - Start BNTY buy-back program
    - Support bounties focused on software development (Bug bounties and Security
    audits)
    - Add more bounty tasks (security audits, bug bounties, consulting)
    - Add a reputation system for bounty hunters
    - Add a bidding system for reviewing bounties
    - And many surprises more...

    Q2 2018

    - Support consulting bounties
    - Transition bounty0x to a district on district0x platform
    - Start marketing bounty campaigns outside of the cryptocurrency space
    - Allow start-ups to unlock extra features on our platform with BNTY
    - And a ton of surprises more...
    - Add additional bounty task types (referral bounty type)
    - Greater granularity in payouts and managing bounty campaigns.

    Projected Use of Contributions

    Minimum Contributions received: 1 mln

    ● Development Expenses: $600,000 or 60%
    ● Operational Expenses: $200,000 or 20%
    ● Strategic growth initiatives: $100,000 or 10%
    ● Marketing and Legal Expenses: $50,000 or 5%
    ● Reserve for Future buybacks: $50,000 or 5%

    Moderate Contributions received: 7 mln

    ● Development Expenses: $3,150,000 or 45%
    ● Operational Expenses: $1,603,000 or 22.9%
    ● Future growth initiatives: $700,000 or 10%
    ● Reserve for Future buybacks: $700,000 or 10%
    ● Marketing Expenses: $700,000 or 10%
    ● Legal Expenses: $150,000 or 2.1%

    Maximum Contributions received: 10 mln

    ● Development Expenses: $3,000,000 or 30%
    ● Operational Expenses: $3,500,000 or 35%
    ● Marketing Expenses: $1,400,000 or 14%
    ● Future growth initiatives: $1,000,000 or 10%
    ● Reserve for Future buybacks: $1,000,000 or 10%
    ● Legal Expenses: $100,000 or 1%

    Development Expenses

    Funds allocated to development expenses will be used for the development of the
    bounty0x platform, bounty submission and review mechanism, reputation system, smart
    contracts, security audits and future improvements to the platform as well as expansion into
    new segments.

    Operational Expenses

    Funds allocated to operational expenses will be used to keep the bounty0x platform
    running and to cover its day-to-day costs. This includes costs related to recruiting,
    community management, support, sales, hosting, accounting, partnership formation,
    business development and any other administrative tasks.

    Marketing Expenses

    Funds allocated to marketing expenses will be used to attract more startups to our
    platform and to grow our user base. This will be achieved through a combination of
    partnerships with influencers, press releases, PPC marketing campaigns and the creation of
    educational content.

    Legal Expenses

    Funds allocated to legal expenses will be utilized to establish the Bounty0x entity, to
    cover ongoing legal costs and to finance any unforeseen legal expenses that could threaten
    the existence or vision of our platform.

    Management of Contributions

    As an Ethereum-based project, the long-term viability and utility of our platform is
    bound to the continued development of the Ethereum protocol and growth of its user base.
    After securing 18 months of runway into USD, we intend to pay all wages and cover all
    possible expenses in ETH. The funds that are currently not utilized will be stored in an offline
    wallet indefinitely.

    Transparency Policy

    We are going to follow the example of District0x and publicly disclose all information
    that could be of some relevance to our community.

    Development disclosures

    ● Weekly updates will be published to http://blog.bounty0x.io and shared across all our
    social media accounts.
    ● Our current roadmap can always be accessed at http://bounty0x.io/transparenc...

    Financial disclosures

    ● Quarterly updates on our use of contributions will be made available at
    http://bounty0x.io/transparenc...
    ● Key statistics, together with a quarterly earnings report will be made available at
    http://bounty0x.io/transparenc...

    Contact information

    ● A link to our discord group will always be available at http://bounty0x.io
    ● The email address of every team member will be displayed at http://bounty0x.io/team
    ● Links to all our social media profiles can always be found at http://bounty0x.io


    Join Alpha:

    Team:

    Angelo Adam
    Co-founder - Operations
    Attorney. District0x Community Manager, WeTrust
    Freelancer. Crowdfunded ethereum. Member of the Digital
    Ledger Defense Coalition . Equities Trader at a Hedge
    Fund.

    Pascal Thellmann
    Co-founder - Sales, Marketing and PR
    PR and Marketing in the crypto world. Contributor at
    CoinTelegraph. Copywriter. Previously co-founded a
    successful German ecommerce site.

    Deniz Dalkilic
    Co-founder - Lead developer
    Software Engineer Thomson Reuters. Working in Applied
    Innovation team on Blockchain/Ethereum projects. In
    particular concentrating on public Blockchains and DApp
    development via extensive use of JavaScript and Smart
    Contracts.

    Advisors

    Uwe Thellmann

    Partner at Aurelius Equity
    Uwe has +20 years of
    experience in Marketing,
    Finance and Sales at P&G,
    Danone and Energizer.
    Responsible for portfolio
    companies in the consumer
    goods industry at Aurelius
    Private Equity. In blockchain
    since 2016.

    Shahaf Bar-Geffen
    Chairman at WEB3 Group
    Shahaf grew WEB3 from a
    two-person operation in
    2006 to a multi-national
    company operating in 15
    countries in just 7 years.
    Today, Shahaf heads
    WEB3’s strategy, new
    venture development and
    executive team.

    Cathy Tao
    Director at Symphony SEA
    Cathy has advised over 500
    startups. She cofounded
    TourBoarding, a sharing
    economy startup, which was
    hired by AirBnB to launch in
    China, and another startup,
    which matches high-impact
    startup founders with
    advisors willing to work for
    sweat equity.

    Links:


    Website:

    Twitter:

    Blog:

    White Paper:



  • Bounty0x (BNTY)  Weekly Development Update - pre-sale &  main sale dates,New features and bug fixes & More

    News and updates from Bounty0x development

    In case you missed our last weekly update, we announced the launch of our full website, new partnerships, and plans for District0x integration. This week we are announcing among other things the Bounty0x anti-scam bot bounty hunter initiative to stop slack scams, rescheduling our pre-sale for after the Bitcoin fork, and our new bounty listings.

    We’ve revised our pre-sale and main sale contribution period dates

    The new dates are:

    Pre-sale contribution period dates: November 20 — December 3

    Main sale contribution period dates: January 10 — February 10

    In light of the upcoming bitcoin fork scheduled for mid November, Bounty0x has received recommendations from a few advisers as well as a few of our trusted community members that it would be prudent to adjust the start and end date of the upcoming pre-sale and main contribution period until after the completion of the bitcoin fork. Moreover, an added benefit of this strategy is that this will enable Bounty0x more time to continue promoting and growing the community in anticipation of the contribution period.

    Meanwhile, in the coming weeks we have planned the release of an explainer video, two conferences we will be attending, podcasts, and six new clients.

    New features and bug fixes on the Alpha platform

    We appreciate all the feedback by all our users so far, it’s been incredibly helpful. We’re working hard to bring even further improvements to the platform. PS: To see latest changes quickly without any glitches, if possible, clear your browser cache.

    - Patches in place to beef up security - Frontend refactoring to further stabilise and modularise our application - Performance patches on the API,

    Anti-scam bot bounty hunter initiative

    In our recent blog post we announced the slack anti scam initiative aimed at ending scammers on slack. Together with anti-scam bot we incentivize and reward bounty hunters successfully identifying scammers. This charges more members of the community with ensuring it is safe. To read more about the initiative check out our recent blog post here.

    Bounty0x Integration on District0x

    In the next week or so, Bounty0x will be enabling DNT holders to stake their DNT and vote on Bounty0x governance proposals, by making use of the vote.district0x.io voting dapp.

    Spotlight articles

    Simon Kruse, an interview with the highest earning bounty Hunter on Bounty0x, read it here.

    Press and News

    Press

    We were featured in CoinTelegraph here.

    We’re featured in Crypto Analyst here.

    We were featured in Ethereum World News here.

    Podcasts

    We’re featured in coin stories video here.

    We were featured on 5 Minutes Crypto here.

    We were featured on Bitcoin Uncensored here.

    We were featured in the ICO Alert podcast here.

    Upcoming Dates:

    1. Bounty0x (BNTY) Pre-sale — Nov 20–Dec 3
    2. Bounty0x (BNTY) Main-sale — Jan 10 — Feb 10

    Hiring

    Community Manager:

    Bounty0x is currently hiring a community manager. If you, or someone you know, is interested, send us an email at [email protected]

    Back End Developer:

    We are hiring an experienced Java Developer.

    - Experience with REST API development - Experience with Apache Camel - Experience with Apache ActiveMQ - Experience with Spring/SpringBoot - Experience with SQL, Postgres in particular - Experience with Mockito/Junit - Ideally exposure to web3j - Exposure to Blockchain and SmartContracts(Solidity)  - Exposure to Golang/NodeJS is beneficial

    We are always seeking new talent. If you or someone you know is interested in assisting with the development of bounty0x.io feel free to send us an email at [email protected]

    If you would like to partner with Bounty0x, or post your bounty campaign on the alpha platform, please send an email to [email protected]

    Learn More

    For more information about Bounty0x:

    Check out our white paper

    Join us on Slack

    Join us on Telegram

    Subscribe for email updates

    Follow us on Twitter

    Subscribe to our subreddit



  • Weekly Development Update

    News and updates from Bounty0x development

    In case you missed our last weekly updatewe announced new partnerships, and plans for District0x integration. This week we are announcing among other things our token allocation, explainer video, and upcoming poll for determining main contribution period date.

    This week Bounty0x is proud to announce 1.8k telegram users, and a full pre and main contribution period whitelist. Bounty0x has empowered the telegram community to vote to decide how the upcoming token contribution period should be structured.

    Presale Contribution Period is live

    The Bounty0x presale contribution period is live. View our pre-sale contribution guide here, and visitBounty0x.io to contribute.

    Bounty0x Explainer Video

    The Bounty0x explainer video is live and is available to view here. Thanks to Jon Mayo Buttry of JCB Motion and Shooter Jennings.

    Bounty0x Series on Transparency

    Bounty0x has posted as statement which addresses some community questions regarding Bounty0x commitment to transparency in the cryptocurrency space.

    Community vote on Bounty0x token allocation and main contribution period dates

    Bounty0x has engaged the telegram community to vote in order to decide which token allocation model to follow for the upcoming contribution period. A $1.75mln total hard cap and December 15th for the main sale date where the most voted on options.

    More details on the poll here.

    Bounty0x Speaking at East Meets West Blockchain Conference

    Bounty0x will be speaking at the East Meets West Blockchain Conference in Silicon Valley, together with Kyber, District0x, WeTrust and many more! The conference is on December 10 and we invite all of you for a beer after the event. More info here:https://www.eventbrite.com/e/east-west-blockchain-conference-tickets-39306344334

    New features and bug fixes on the Alpha platform

    - Pre-Sale contracts finalised - bounty0x.io prepared for Pre-Sale - API upgrades and microservices architecture adopted - UI changes to improve performance - Password recoverability wrapped up awaiting deployment post Pre-Sale - External bounties support - Re-skin of alpha commenced with Griflan

    New Bounty0x hire

    Bounty0x has hired Matt Aaron to interface with clients and manage the onboarding process.

    Bounty0x Integration on District0x

    In the next week or so, Bounty0x will be enabling DNT holders to stake their DNT and vote on Bounty0x governance proposals, by making use of the vote.district0x.io voting dapp.

    Bounty0x in the Press and News

    Smith + Crown

    https://www.smithandcrown.com/sale/bounty0x-decentralized-bounty-hunting-network/

    Bitsify

    https://bitsify.net/ico-list/bounty0x-bounty-management-made-easy/

    BitcoinExchangeGuide

    https://bitcoinexchangeguide.com/bounty0x/

    Crypto Economy

    http://www.crypto-economy.net/bounty0x-ico-presale/?lang=en

    OhHeyMatty

    https://www.youtube.com/watch?v=HH_CRnhG5Yc&feature=youtu.be&a

    CryptoCoins

    https://www.youtube.com/watch?v=rWa9SxUSLjc

    The Cryptonomatron

    https://www.youtube.com/watch?v=xDyFrV77f_Y

    Upcoming Dates

    Bounty0x (BNTY) Pre-sale — November 20th at 15:00 CET. Full guide here.

    Bounty0x (BNTY) Main-sale — December 15th at 15:00 CET. Full guide ready soon.

    East Meets West Blockchain Conference — December 10, 2017 in San Francisco

    Hiring

    (1) Copywriter

    Bounty0x is currently hiring a great copywriter. If you, or someone you know, is interested, send us an email [email protected]

    (2) Back End Developer

    We are hiring an experienced Java Developer.

    - Experience with REST API development

    - Experience with Apache Camel

    - Experience with Apache ActiveMQ

    - Experience with Spring/SpringBoot

    - Experience with SQL, Postgres in particular

    - Experience with Mockito/Junit

    - Ideally exposure to web3j

    - Exposure to Blockchain and SmartContracts(Solidity)

    - Exposure to Golang/NodeJS is beneficial

    We are always seeking new talent. If you or someone you know is interested in assisting with the development of Bounty0x feel free to send us an email [email protected]

    If you would like to partner with Bounty0x, or post your bounty campaign on the alpha platform, don’t hesitate getting in touch with us.

    Learn More

    For more information about Bounty0x:

    Check out our white paper

    Join us on Telegram

    Subscribe for email updates

    Follow us on Twitter

    Subscribe to our subreddit

    Join us on Discord



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