As a researcher with experience in the blockchain and decentralized finance (DeFi) space, I find this governance proposal from 1inch intriguing. The idea of creating a platform to educate newcomers into experts in web3 and developing a bug bounty program aligns well with the ethos of the DeFi community, which values transparency, collaboration, and community engagement.
The Decision-making body of 1inch Finance’s DAO for governance is deliberating over the proposal to invest $150,000 worth of USDC towards creating an educational platform aimed at transforming novices into seasoned professionals within the web3 realm.
One proposition for governance at 1inch proposes establishing a fresh bug bounty platform where the community can trial-test the launches of web3 projects, with 1inch being the initial product showcased.
As a researcher, I’ve come across the 1IP-56 proposal which reveals that xcrwd, a semi-anonymous Russian collective of coders, intends to create an unnamed platform. The funding required for this endeavor amounts to $150,000. This amount will cover development costs, community manager wages, and addressing any project requirements.
As a researcher, I’ve come across information that approximately $20,000 from the requested funds will be allocated for compensating contributors on the xcrwd platform. Danya, who is identified as the founder of xcrwd and also listed as a QA team member at 1inch Labs on LinkedIn, made this statement. However, I’ve yet to receive confirmation of Danya’s role at 1inch Labs from their representative.
As an analyst, I would describe it this way: “The heart of our platform lies in its robust bug reporting system, enabling users to submit issues they encounter. Once approved, these reports are acknowledged and appreciated, acknowledging the essential role of our dedicated testing community.”
Danya
Approximately $130,000 from the overall budget will be allocated by XCRWD for the development of the platform. This amount covers both the backend and frontend, as well as the integration of smart contracts and design elements.
As a crypto investor, I’m excited to see that the development timeline for this project stretches into 2024. By June 15, we’ll have completed the voting process on the proposed changes. Based on the latest snapshot, it appears that there is strong backing for this initiative, with approximately 99.4% of the community in favor and only 0.58% showing opposition.
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2024-06-12 12:50