What is BountyX?

BountyX is a gateway between winning a bounty and taking the next step to keep moving your project forward. It incentivizes building public goods projects and helps contributors to:

1. Get recognized
2. Receive retroactive funding
3. Collaborate with related organizations
4. Multiply their impact

Motivation

Starting new projects is hard, especially if it's a FOSS or any other public goods project. More and more developers are joining the Web3 movement, trying to find their place in this new ecosystem. Many of them have a lot of bright ideas but don't know how to take the first steps.

The question we had in mind was: how do we attract more of this talent to building public goods and provide them with different ways to be fairly rewarded for their contributions? At the same time, if a project finds a sustainable business model, how can we give them a way to exit towards that model?

Web3 Hackathons

A lot of good projects start at hackathons. If a project is rewarded with a bounty, it automatically signals value about the project and the impact it created for sponsor organizations.

Retroactive Funding & Hypercerts (Impact Certificates)

There is a number of emerging technologies that allows to use retroactive funding to reward contributors for their work after the contribution has happened. The key point here is that it's much easier to decide whether something is useful after it has been built.

Impact certificates are a novel mechanism to reward people who create positive impact in the world. These new primitives incentivize creators to take the first steps towards building public goods they think will be valuable because it allows thinking less about how they will be rewarded and more about the product itself, its value, and its impact.

How does BountyX work?

BountyX is built on top of Hypercerts technology. Hypercert is an NFT implementation of Impact Certificate that allows anyone to show their contributions to the world (get recognized) and receive rewards retroactively for creating positive impact (get funding).

If you win a bounty at a hackathon, you may be eligible to mint a Hypercert, distribute it between the team members and bounty sponsors.

The bounty can be matched retroactively by the beneficiaries of your impact.

When a Hypercert is claimed, a team now has access to the features to take the next steps in their project that involve collaboration and funding:

• Create a team chat between contributors and bounty sponsors
• Create a community at guild.xyz
• Generate a Gitcoin project from the minted Hypercert
• Share a fraction of the Hypercert on the NFT marketplaces, potentially in exchange for some funding

Team

• avee.eth Twitter
• cipherz.eth Twitter
• gold0x.eth Twitter
• sudh.eth Twitter