The governance DAO of finance protocol 1inch is voting on whether or not it ought to allocate $150,000 in USDC to develop a platform to “educate newbies into consultants in web3.”
A 1inch governance proposal suggests creating a brand new bug bounty platform that may permit the gang to beta take a look at web3 merchandise releases, with 1inch itself to be the primary product listed on it.
In line with the 1IP-56 proposal, the yet-to-be-named platform will probably be developed by xcrwd, which seems to be a semi-anonymous Russian staff of coders. The proposal is in search of $150,000 to pay for the “growth, the work of the group supervisor, and the closure of mission wants.”
A part of the requested quantity (round $20,000) “will probably be directed to rewards for platform contributors,” mentioned xcrwd founder Danya, who additionally claims to work at 1inch Labs as QA in line with their LinkedIn profile. Crypto.information reached out to 1inch to substantiate Danya’s standing at 1inch Labs, however didn’t hear again on the time of writing.
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“At its core the platform has a robust bug tracker the place customers can submit studies. Authorised studies are rewarded, recognizing the dear contributions of our testing group.”
Danya
Out of the whole finances, xcrwd intends to spend roughly $130,000 on the platform’s growth, together with backend and frontend, sensible contract integration, and design facets.
The event timeline extends by means of 2024, with voting on the proposal set to conclude on Jun 15. As of press time, the snapshot signifies overwhelming assist, with roughly 99.4% in favor and 0.58% opposed.
Learn extra: 1inch Funding Fund buys $10m price of Ethereum