Bounty Process

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See: Main_Page

See also: Bounty_List, Mining_Sunrise_Phase

Overview

In order to improve the quality and usability of the VeriBlock blockchain software, VeriBlock will be incentivizing the general public to test out VeriBlock's software prior to its mainnet launch. There will be two types of incentives: those which are awarded by the blockchain software itself (mining), and those which VeriBlock pays out to individuals who completed particular tasks (bounties).

For list of bounties, see: Bounty_List

Testnet Mined Coins

Users who mine VeriBlock coins (using either Proof-of-Proof or Proof-of-Work mining) will have their addresses (along with their testnet balances) included in the genesis block of the VeriBlock mainnet network. These coins are intended to be paid out on mainnet by the coinbase of the network.

Bounty Coins

Users of VeriBlock's software will be able to claim bounties for a variety of actions such as:

  • Finding, reporting, and/or helping solve bugs in the software
  • Making usability recommendations
  • Developing third party tools (such as pool software, mining software, additional wallet software, etc.) which make VeriBlock's software easier and/or safer to use
  • Helping to load-test the network
  • Providing documentation (such as tutorials) which helps other users

All of the bounties will be available for the general public to participate in. No shareholders or employees of VeriBlock, Inc. (or immediately family thereof) will be eligible to claim bounty program rewards.

Bounty program participants will provide the bounty organizers with a valid VeriBlock address upon completion of a bounty task. Bounty coins will be paid out after the VeriBlock mainnet launches with premined coins, and participants may be required to undergo KYC/AML validation before receiving their bounty coins. Furthermore, citizens and residents of certain geographic areas may be prohibited from participating (such as countries embargoed or sanctioned by US import/export regulations, or states with unfriendly blockchain regulations). VeriBlock, Inc. retains the right to amend the list of prohibited geographic areas at any time prior to a bounty payment being sent.

Process

General rules

  • Bounties will be publicly posted.
  • Bounties will be paid in VBK coins to a VBK address.
  • One person can win multiple bounties, but to encourage participation, there may be restrictions on whether previous winners are eligible for new bounties.

Propose a bounty solution

  1. Pick a bounty (such as be the first to send a transaction with the word "BEE" in it)
  2. Win the bounty (generate said transaction on the network)
    1. Proof may be required. For some bounties it may be simply pointing to the address that should be rewarded, for many a message must also be signed with the address in question
  3. Send an email to bounty@veriblock.com with:
    1. The BountyID in the subject header
    2. The bounty
    3. Your solution
    4. Any other relevant details
  4. The bounty moderators will determine if it successfully wins the bounty (was it the first submission for the particular bounty, etc.)
  5. If it did not win the bounty, the bounty moderators will attempt to reply back (depending on volume received, there may be a delay in replies)
  6. If it did win the bounty:
    1. VeriBlock will start a process to send the reward (see section below)
    2. For public transparency, any awarded bounty will be publicly posted with the winning Date, VBK Address, Name, and proof. The list of open bounties will be updated.

How to collect a bounty reward

Short version:

  1. Email bounty@veriblock.com with a testnet VBK address and that address will be populated with the reward AFTER MainNet launch, pending successful KYC/AML review.

Long version:

  1. Email bounty@veriblock.com with a testnet VBK address
    1. Note: There is zero incentive to send someone else's address, therefore one can safely assume that the winner is sending their own address.
  2. After MainNet launch...
  3. All bounty winner addresses from TestNet will be recreated on MainNet
  4. Each winner will fulfill a legally sufficient KYC/AML process. This could be run by a 3rd party. Exact process TBD.
  5. The premine will send a sufficient pool of coins to cover the bounty rewards to Bounty Moderator address.
  6. From that MainNet address, a bounty moderator will send the rewards to the MainNet VBK address of each KCY/AML verified winner.

Notes:

  • In some circumstances, identity must be verified and a 1099 (or similar) must be sent.
  • The intention of the bounty program is to reward a VBK address on MainNet. If for some reason that is not possible, VeriBlock may pay bounty rewards through some alternate means of compensation.

Disclaimer to participants

In the event of unforseen legal or technical issues, it may not be possible to copy testnet balances on mainnet, or the balances may be held in custodianship until the appropriate legal or technical issues are resolved, and users may be required to participate in a KYC/AML process to access their coins.

In the event that mined coins from testnet cannot be copied on mainnet, the Bounty Moderator may, in its sole discretion, elect to provide another means of compensation to users who participated on testnet.

In the event that Bounty Moderator is unable to pay out coins to bounty participants, it will make a best-effort attempt to provide alternate compensation to all eligible participants.

FAQ

Are bounties in VBK or USD?

VBK coins, to be awarded after MainNet launch

How will KYC/AML be handled?

After MainNet launch, before receiving their reward, all winners will go through a KYC/AML process, potentially by a trusted 3rd party