Bounty0x ICO Review– Presale, ICO and token

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2018

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Bounty0x ICO BNTY

Bounty0x ICO Key Dates:

Presale Date: 20th November 2017-21st November 2017.

Public sale Date: 15th December 2017.

 

 

Bounty0x ICO Overview.

Bounty0x ICO will fund the development of a streamlined bounty management platform that will enable teams to easily distribute rewards and monitor contributions. A verification process and reputation system will be built in to verify that each task was successfully completed before payment is disbursed.

 

 

Problems being solved;

  1. In order to have bounties completed, startup teams are often required to spend time posting on forums or chat groups in order to advertise what bounties are available to potential bounty hunters.
  2. It can be difficult for users to locate which (companies/organizations/ICOs/entities) are accepting bounties and which have already been completed.
  3. Ensuring that all bounties have been completed accurately, and that the user who completes the bounty receives payment to the correct address can be difficult. All the interaction between the Bounty Host, and the Bounty Hunter usually occurs through forums or email. All of the bounty campaign requires Bounty Hosts to maintain detailed excel spreadsheets with payment addresses, and lists of bounty submissions.
  4. Because the process is inefficient, it limits the scope and breadth of bounties that bounty hosts can outsource to bounty hunters.
  5. Banner advertisements are losing effectivity due to a phenomena known as “Ad Blindness”. On the other hand, influencer marketing on social media and blogs is exploding in popularity.
  6. Bugs and security issues are a growing pain in our digital world. Security audit firms charge astronomical sums for their services and companies often want to get a second or third opinion.
  7. It can be very challenging for a company to decide on the mechanics behind their bounty campaign. Some of the most common doubts are associated with the tasks that should be offered and the amount that should be allocated to rewards.
  8. Bounty Hunters with a track record of success are unable to gain recognition for their prior work and command a higher price since there is no proper reputation system in place.
  9. Nowadays, startups and companies need to review every single submission manually. This is a huge pain.
  10. Hiring bounty managers is expensive and time-consuming.

 

 

Solutions.

  1. Bounty0x will enable anyone to host and manage bounty campaigns by posting bounties, and disbursing payments to bounty hunters.
  2. Bounty0x will enable users seeking to participate in a bounty program (“bounty hunters”) to search bounty listings, participate in said bounties, complete bounty tasks, and receive rewards and payments
  3. Bounty0x has a structure in place that tracks the work of Bounty Hunters and later disburses payment once the tokens are transferred from the genesis contract to an escrow account.
  4. Bounty0x will automate the process of reviewing bounty task submissions by enabling third party reviewers to ensure the accuracy and quality of bounty submissions by staking BNTY tokens in exchange for value. The bounty completion verification mechanism may vary depending on the type of bounty task that the startup seeks to complete. For example, Twitter and Facebook bounties may be verified automatically using BountyOx algorithms and API’s, other bounties may be verified solely through the Bounty Host, and still other bounties may be verified through the use of Bounty Sheriffs.
  5. Bounty0x brings influencer marketing to the crowd by allowing anyone from anywhere, to endorse brands through marketing bounties.
  6. Bounty0x enables Bounty Hosts to expose their code to thousands of programmers that carefully analyze and review it. Bounty hunters only receive a reward if they actually find a vulnerability.
  7. At BountyOx there will be a section of the website dedicated to educational content to educate companies interested in holding bounty campaigns as to best practices in a bounty campaign.
  8. BountyOx has a built-in reputation system to enable startups to use the platform to identify potential candidates to hire. Every time a Bounty Hunter receives tokens for his work, BountyOx will convert those coins into their ETH value and rank users based on that figure. Overtime Bounty Hunters will build up a trustworthy reputation for completing work.
  9. The BNTY token staking mechanism incentivizes the crowd to review submissions.
  10. The platform is free to use.

 

 

Bounty0x ICO Review.

Bounty0x ICO Crowdsale

  1. Concept.

Industry: Influencer marketing, Bounty hunting

Similar projects: Bug Crowd, Hackerone, BitcoinTalk

How is it different from other projects in the space?

  • BountyOx offers support for broader bounty targets.
  • BountyOx provides a decentralized verification mechanism.
  • BountyOx offers an automated verification system to review the quality of submissions.
  • BountyOx enables Bounty Hosts to allocate a certain percentage of their ICO tokens in such a way that they will be automatically distributed to bounty contributors upon completion of the ICO.

VC Investors: None

 

Get the overall score of the Bounty0x ICO as well as other ICOs here

 

  1. Bounty0x ICO Structure.

ICO Timeframe: 20th November 2017-18th December 2017

Popularity: High

Whitelist present: Yes, non-whitelisted individuals can participate on the second day (16th).

Registration required: None for non-whitelisted individuals

KYC required: No

Banned entities:  The United States of America, China.

Smart contracts already audited: N/A

Exchanges: N/A

Escrow: N/A

 

Token scarcity:  500M BNTY

Founder/Team/Advisor Token percentage (Should be less than 20-25%): 33.3%

Securities Token: No

Buyback and burn: Yes.

  • BountyOx will perform a quarterly token buy-back program with the fees earned. This will stabilize the BNTY price for the staking mechanism.

Utility token: Yes

Use of fiat: No

Coin staking: Yes

  • 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.
  • 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.
  • Bounty Hosts need to stake BNTY to when posting a new bounty. If a bounty posting is rejected, for being against BountyOx guidelines, a portion of the staked tokens is burned.

Vesting of team members/advisors: Team members will be vested for 18 months, and advisors for 6 months.

Locking of presale tokens: N/A

Unsold tokens burnt:  N/A

 

Presale token percentage: 3.79%

Timeline Bonus: 20%

Whale Bonus: N/A

Presale Hard cap amount: $25ok

Presale Soft cap amount: N/A

Presale progress: The pre-sale target was hit much faster than initially expected. Over 580 addresses contributed to the $250k pre-sale hard cap, which was hit almost immediately after the pre-sale.

Minimum amount: None

Individual cap: None

 

Public sale token percentage: 18.18%

Timeline Bonus: N/A

Whale Bonus: N/A

Public sale hard cap amount: $1.5M

Public sale Soft cap amount: N/A

Public sale Progress: N/A

Minimum amount: N/A

Individual cap: $1ok.

 

Total ICO Token percentage (Should be 70-80%): 22%

Total ICO Hard cap: $1.75M

Total ICO Soft cap: N/A

Base ICO Token price: $0.0165

ICO Progress: Presale over

 

Market cap (ICO Price x circulating supply) (Should be less than $35M): $1.82M

Market cap of projects in same field: N/A

 

ICO Smart contract Address:  N/A

 

 

  1. MVP.

Any previous activity related to the project: N/A

Previous app/product: N/A

Actual alpha, beta etc. available: Alpha

Working product integrated with token: None

 

 

  1. Blockchain Leverages.

GitHub presence: Yes

Tokens: The BNTY utility token is used on the Bounty0x staking mechanism to ensure that all actors on the network are honest.

Smart contracts: N/A

Middleman being cut out: N/A

Decentralization: Yes

Transparency: N/A

Scalability: N/A

Speed: N/A

Lower costs: N/A

Storage: N/A

Ledger: N/A

Encryption: N/A

DAO: BountyOx will eventually operate as a completely decentralized DAO. Following the implementation of the district Ox district creation platform and dOxlnfra protocol, the BountyOx platform will transition into a district on the district Ox platform. Staking DNT in the BountyOx district will entitle users to a quarterly profit distribution and to participate in the governance of the platform through the associated Aragon entity.

Oracles: N/A

 

 

  1. Bounty0x ICO Team.

Names, pictures and even links to social profiles like LinkedIn and Twitter: No

Founders have credentials in the area they are venturing into: Yes

Members who have already completed successful projects in the field of blockchain: Yes

CTO experienced in blockchain: Yes

 

Get the overall score of the Bounty0x ICO as well as other ICOs here