1inch DAO proposes $150k grant to create web3 crowd testing platform

The governance DAO of financial protocol 1inch is voting on whether to allocate $150,000 to USDC to develop a platform to “train startups to become web3 experts.”

1inch’s governance proposal suggests creating a new bug bounty platform that will allow the crowd to beta test web3 products, with 1inch itself being the first product listed.

According to the 1IP-56 proposal, the as-yet-unnamed platform will be developed by xcrwd, which appears to be a semi-anonymous team of Russian coders. The proposal requests $150,000 for “development, community manager work, and closing project needs.”

xcrwd founder Danya, who claims to work as a QA at 1inch Labs according to his LinkedIn profile, said that part of the requested amount (about $20,000) “will be directed towards rewards for those who contribute to the platform.” Crypto.news reached out to 1inch to confirm Danya’s status at 1inch Labs but did not hear back at the time of this writing.

“At the core of the platform is a powerful bug tracker where users can submit reports. Approved reports are rewarded in recognition of the valuable contributions of our testing community.”

Danya

From the total budget, Xcrwd plans to spend approximately $130,000 on development of the platform, including backend and frontend, smart contract integration, and design considerations.

The development timeline extends to 2024, and voting on the proposal will conclude on June 15. As of press time, the snapshot indicates overwhelming support, with approximately 99.4% in favor and 0.58% opposed.