The governance DAO of finance protocol 1inch is voting on donating $150,000 USDC to create a platform to “train novices into web3 experts.”
According to a 1inch governance proposal, a new bug bounty platform should be established, and the first product listed on it should be 1inch. This platform will enable the crowd to beta-test versions of web3 products.
The 1IP-56 plan states that XCRWD, a group of semi-anonymous Russian programmers, will be responsible for developing the unnamed platform. The proposal seeks $150,000 to pay for the “development, the work of the community manager, and the closure of project needs.”
Part of the requested amount (around $20,000) “will be directed to rewards for platform contributors,” said XCRWD founder Danya, who also claims to work at 1inch Labs as QA according to their LinkedIn profile. Danya:
“At its core the platform has a powerful bug tracker where users can submit reports. Approved reports are rewarded, recognizing the valuable contributions of our testing community.”
XCRWD plans to dedicate roughly $130,000 of the overall funding to the backend and frontend development of the platform, as well as the integration of smart contracts and design elements. The idea will be voted on on June 15th, with a development timeline until 2024. The snapshot shows strong support as of publication, with roughly 99.4% in favor and 0.58% against.