Announcing crowdfunded bounties.

TL;DR. In the Bounty0x Beta, millions of people will be able to collectively increase the reward pool of a bounty task by joining a ”crowdfunding” bounty.

Due to popular demand, we decided to add the support of crowdfunded bounties in the Bounty0x Beta platform which will launch in Q2 2018. Huge thank you to the whole community. Demand for this feature was brought to the attention of Bounty0x by numerous community members.

What are crowdfunded bounties?

Crowdfunded bounties are bounty tasks that not only can be funded by the Bounty Host that initially posted them, but by everyone. This makes it possible for large crowds to boost the reward of a bounty way beyond what a single bounty host could finance. If a crowdfunded bounty is not completed after a certain time, funds are automatically returned to all donors.

For example, someone posts a bounty for the completion of a task willing to pay $100k. It just so happens, that hundreds of other people also are interested in posting a bounty for the same task. Until now, then each of these people would need to individually post separate small bounties. With the introduction of this “crowdfunding bounties” option, anyone can add to the same bounty and increase the reward available.

What can crowdfunded bounties be used for?

The sky is the limit. We are building Bounty0x in a way that it maximizes customization for our users. Some use cases include:

Donations. The charity world often lacks transparency. With crowdfunded bounties anyone will be able to post a charitable task and anyone will be able to fund and/or complete them.

The charity world often lacks transparency. With crowdfunded bounties anyone will be able to post a charitable task and anyone will be able to fund and/or complete them. Hacker hunting. One community member recently posted a $100k bounty on our Alpha platform for identifying the EtherDelta hacker. Crowdfunded bounties allow anyone to contribute to that bounty in order to make the reward pool more appealing and increasing the likelihood of completion.

One community member recently posted a $100k bounty on our Alpha platform for identifying the EtherDelta hacker. Crowdfunded bounties allow anyone to contribute to that bounty in order to make the reward pool more appealing and increasing the likelihood of completion. Blockchain startups: If a blockchain startup is seeking to be listed on any exchange, but is unable to pay an exorbitant exchange fee, then it could let community members add to a bounty for being listed on an exchange. When the bounty reward is big enough, then the first exchange to claim the bounty claim the reward.

If a blockchain startup is seeking to be listed on any exchange, but is unable to pay an exorbitant exchange fee, then it could let community members add to a bounty for being listed on an exchange. When the bounty reward is big enough, then the first exchange to claim the bounty claim the reward. Publicity stunts. Imagine if you could post a bounty for a certain celebrity to promote a product/service. If the reward pool becomes large enough, the celebrity may decide to do it.

Imagine if you could post a bounty for a certain celebrity to promote a product/service. If the reward pool becomes large enough, the celebrity may decide to do it. And so much more! The final Bounty0x platform will be modular. Do what you please with it.

When will Bounty0x introduce crowdfunding bounties?

Bounty0x development roadmap consists of an Alpha 2.0 which will be launching in February and the Beta version which will be launching in Q2 2018. Crowdfunding bounties will be a feature released in the upcoming Beta release. At which time anyone will be able to collaboratively hold crowdfunding bounties.

More about Bounty0x

For more information about Bounty0x:

Join our Alpha by becoming a bounty hunter or a bounty host

Check out our white paper

Join us on Telegram

Join us on Discord

Subscribe for email updates

Follow us on Twitter

Subscribe to our subreddit