Press Release

What is Bounty0x?

A decentralized bounties network enabling anyone to manage bounty programs, and users to receive payments for completing bounties. The network is powered by the BNTY token.

In the short term, we are developing 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 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. Some of the first industries we will be entering are Online marketing, Software development, and Consulting.

Real-life applications for Bounty0x.

Official Bounty0x logo

 

  • Software companies can use Bounty0x to find vulnerabilities in their code.
  • Governments, Non-profits and NGO’s can use Bounty0x for incentivizing the completion of specific goals, like finding the cure for a certain type of cancer.
  • Brands can use Bounty0x for incentivizing influencers to promote their products.
  • Corporations can use Bounty0x for incentivizing consultants to suggest strategies for increasing revenue.
  • And so much more.

What is the BNTY token used for?

500,000,000 bounty0x tokens (BNTY) will be minted in the genesis contract. BNTY will be distributed during a pre-sale, and the main sale (details of each below). The BNTY token is a Utility token, and has 3 primary purposes on the platform:

(1) BNTY will be used by Bounty Hunters

– How: Bounty Hunters need to stake BNTY to participate in ‘Super Bounties’. If a Super Bounty submission is rejected, like for example a bug report, the Bounty Hunter will lose a portion of his staked tokens.

– Why: ‘Super Bounties’ are checked manually by a team member of the startup. Therefore, it is important to ensure that all submissions are of a superior quality to avoid wasting the individual’s time.

(2) BNTY will be used by Bounty Sheriffs

– How: Bounty Sheriffs will be able to stake BNTY to review bounties. If they are performed incorrectly, they will lose a portion of their staked tokens. If performed correctly, they may gain additional BNTY and bounty tokens from the start-up.

– Why: As a quality control mechanism. Bounty Sheriffs are financially incentivized to perform reviews correctly.

(3) BNTY will be used by Bounty Hosts

– How: Startups can purchase BNTY to unlock additional premium features in the platform or to hire additional services from our partners, like for example community management.

– Why: More efficient way of tracking and distributing payments to the platform and our partners.

Alpha Platform

 

The Bounty0x Alpha platform went online on October 10. There are currently over 10 bounty tasks published and we will be adding dozens more in the coming week. It is important to note that this Alpha platform doesn’t even scratch the surface of what Bounty0x will ultimately become.

We decided to build this MVP in order to check the concept before we raise millions in funding. The response was amazing and therefore we decided to move on with a pre-sale and an ICO to bring the BNTY token to life.

Pre-sale: $250k cap (November 20–December 3)

Bounty0x will hold a pre-sale capped at $250k between November 20– December 3. A 1.56 percent of all BNTY will be distributed during the pre-sale at a price of at $0.032 each. Contributors to the pre-sale will be purchasing at a 20 percent discount to the ICO price. In the spirit of decentralization, there will be no additional discounts for larger contributors.

 

Telegrowth
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