Lincoln Studio is proud to announce the launch of BIPBounty.org, a new project to support the open source development of Bitcoin. This new project incentivizes the research development and vetting of Bitcoin Improvement Proposals (BIPs) by creating a system for crowdsourcing tax-deductible bug bounties and distributing them to bounty winners.
Lincoln Network has partnered with Hydra for hosting and will be using Gemini as custodian. In order to get the website up and running Lincoln is seeking a $30,000 donation for design and engineering. Once we are live, all donations will go directly to bounties and are tax deductable.
How It Works
The focus of BIPBounty.org out the gate will be on BIP-119 which has publicly committed funds of ~5.5 BTC for funding the CTV Bug Bounty, if there is an issue to be claimed. 3-5 technical Bitcoin community members (including Lincoln’s very own Ariel Deschapell) will act as independent judges in regards to whether the bounty criteria have been met. Deposits can be made through BIPbounty.org via a process using The Giving Block.
Aggregated bounty info is displayed on the website in a web-based table or .csv like embed, fully sortable by any column. Amounts highest to lowest, or lowest to highest. BIPs (bitcoin improvement project), bounty template, etc.
Applications to claim bounties will be facilitated through an intake form on the website requiring linking to either a BIP comment or mailing list post, describing which bounty template and BIP they are claiming, and a short optional message box describing how they met the criteria for the bounty. Also, a payout address of course.
Lincoln Network believes that when technology meets and supports the cause of liberty, our society wins and our future becomes brighter. Bitcoin is a great example of this and we want to do our part in supporting the open source community that helps it thrive and grow. Join us in this mission and get paid for doing so.
