The governance DAO of finance protocol 1inch is currently voting on allocating $150,000 in USDC to develop a platform aimed at educating beginners into experts in web3.

A 1inch governance proposal outlines the creation of a new bug bounty platform that will enable the community to beta test web3 product releases. The first product listed on this platform will be 1inch itself.

According to the 1IP-56 proposal, the platform will be developed by xcrwd, a semi-anonymous team of Russian coders. The proposal requests $150,000 to cover development costs, the work of the community manager, and other project needs.

Part of the requested amount, around $20,000, will be allocated to rewards for platform contributors. Danya, the founder of xcrwd and a QA professional at 1inch Labs, confirmed this allocation.

“At its core, the platform has a powerful bug tracker where users can submit reports. Approved reports are rewarded, recognizing the valuable contributions of our testing community.”

Out of the total budget, xcrwd plans to spend approximately $130,000 on the platform’s development. This includes backend and frontend development, smart contract integration, and design aspects. The development timeline extends through 2024.

Voting on the proposal is set to conclude on June 15. As of now, the snapshot indicates overwhelming support, with approximately 99.4% in favor and 0.58% opposed.

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