Prop 39: Allocate 100k CTK to the OpenBounty for Upfront Payment of Bounties to white-hat Hackers

Summary A proposal is being made to allocate 100,000 CTK from the community spending pool to support OpenBounty. These funds will primarily be used for two purposes:

1. Rewarding white-hat hackers for their findings;
2. Providing advance payments for bounties so that white-hat hackers can receive their rewards quickly.

The funds will be managed by the Multiwallet.

Details Shentu OpenBounty, a proactive step in the security process, establishes a secure and transparent environment for bug bounty programs. It encourages collaboration between projects and white hat hackers, addressing inherent risks and vulnerabilities in the Web3 industry. Acting as a decentralised bounty platform, Shentu OpenBounty connects projects with skilled white hat hackers, ensuring a mutually beneficial arrangement for project security and hacker rewards.

Since its inception, OpenBounty has aimed to attract top-notch projects and exceptional white hat hackers. Its objective is to maintain permanent records on Shentu Chain, preventing any manipulation of the project or white hat findings. This initiative also aims to eliminate concerns regarding payment disputes. The Shentu Team firmly believes that this transparency fosters trust between projects and white hat hackers, promoting a collaborative and efficient bug bounty ecosystem.

Optimization The current issue is that the finding review cycle on all Bounty platforms is a lengthy process. As a result, white-hat hackers have to wait for a considerable amount of time to receive their bounty for findings. This creates a poor user experience and doesn't encourage attracting higher quality hackers.

If white-hat hackers can receive their bounties for findings more quickly, they will have more motivation and confidence when participating in OpenBounty.