Bounty0x has announced that the pre-sale for the BNTY token will start on Nov. 10 and end five days later. The company completed the development of its alpha platform on Oct. 10 and will use the BNTY token to create a trustless bounties network. At the time of writing, the alpha already has over 500 signed-up bounty hunters.
“We are building a platform where users, called bounty sheriffs, are incentivized to review the submissions of their peers in order to ensure quality and accuracy of submissions” said Bounty0x CEO, Angelo Adam. “We recently completed testing our concept with bounty campaigns in the ICO space. The response so far is very encouraging. We are in the process of developing the Bounty0x platform to serve the online marketing, software development and consulting industries.”
The pre-sale price per BNTY token will be $0.032 each and 1.56 percent of all BNTY will be sold during that phase. Contributors to the pre-sale will be purchasing at a 20 percent discount relative to the main contribution period. In the spirit of decentralization, there will be no additional discounts for larger contributors. The pre-sale will start on Nov. 10 and end on Nov. 15, or sooner if the cap of $250,000 is reached.
Contributions in ether (ETH), the native token of the Ethereum blockchain will be accepted for both the pre-sale and public sale.
The public crowd sale will run from Dec. 1 to Dec. 15. Fifty percent of all BNTY tokens will be available to the public during the contribution period at a price of $0.040 each. There is a soft cap at $7 million and a hard cap at $10 million. Unsold tokens are burned.
In the short term, Bounty0x is developing a decentralized network where bounty hunters will be able to receive payment in tokens in exchange for completing bounty tasks for ICO startups. With hundreds of new blockchain startups being formed and holding ICO’s every month, this is already a significant market.
Companies and startups will benefit from being able to harness the power of thousands of bounty hunters who are interested in performing tasks in exchange for payment in their native tokens or cryptocurrency.
The ultimate goal is to increase the efficiency of industries that would benefit from a decentralized workforce and bounty-oriented reward model. Some of the first industries Bounty0x is entering are Online marketing, Software development, and Consulting.
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