- VeChain to launch bounty programs to encourage VeChainThor blockchain developers
- Bounty programs will promote the development of projects for the community
- VeChainThor Supercharger bounty aims at encouraging the use of native fee delegation features
VeChain, a blockchain company announced in a medium post on July 17, that it is launching two bounty programs. The bounties are aimed at encouraging VeChainThor blockchain developers which will enable them to focus their talent more on building projects for the VeChain community and promote its growth.
VeChain bounty programs for developers
Per the blog post, the VeChain Foundation is launching two bounty programs for blockchain developers. The programs are aimed at encouraging developers to focus their talent on building projects for the VeChain ecosystem and promote the community’s growth.
To that effect, two initiatives are being targeted and the first is a fresh launch of a VTHO subsidy program. The second is a relaunch of an improved upon VeChainThor Supercharger program for developers whose applications use native fee delegation features.
The VTHO subsidy program will run between July 22 to October 22, 2019. Within the scheduled period, developers who take advantage of the VeChainThor Blockchain to run their applications will receive a 50% reduction in the total VTHO consumed by their applications
Growth of the ecosystem
Similarly, developers who are eligible for the subsidy program must adhere to certain criteria such as the inclusion of their applications to the VeChainWorld Application Hub.
In the same vein, only addresses that have been added to the application info of the Application Hub will be recorded during the bounty period.
There are also requirements for an application not to run on VeChain’s blockchain as a service infrastructure, and the VTHO consumed by a developer’s application not to be sponsored already by the Supercharger Bounty Program.
The VeChainThor Supercharger, on the other hand, seeks to encourage developers building the VeChainThor Blockchain to take advantage of the VeChainThor’s native fee delegation features.
According to VeChain, the native fee delegation enables a developer to pay the transaction fees on behalf of users of their application or transfer the cost to a third party.
Thus, promoting the use of native fee delegation features is in a bid to provide a seamless user experience while also subsidizing projects that use the VeChainThor Blockchain. VeChain also stated:
“Developers with fee delegation-enabled applications are eligible to apply for this one-time bounty program, and if accepted, the Foundation will allocate 3M VTHO on a dedicated sponsor address for the application.”
Blockchain Reporter on July 1 also informed of VeChain Foundation’s plan to buy back $25 Million worth of its native VET tokens within the next 12 months.