HP021 - Initiate Bounties Committee

This proposal seeks to:

• Initiate a Bounties Committee Tasked with effectively allocating bounty funds to grow Hubble Exchange through integrations.
• Onboard certain members from the community to the Bounties Committee.
• Allocate $100,000 to Bounties.
• Allocate 1% of the token supply to initiate a bounty program for smart contract exploits.

Premise

Upon the launch of Hubble Exchange on mainnet, a surge in developer interest has been observed, ranging from liquidation bots and NFT scripts, to those interested in contributing at the protocol-level with features such as limit orders. To finance and support projects and developers building on top of Hubble Exchange, a new committee is proposed: Bounties Committee.

Responsibilities

The bounties committee is tasked with effectively Allocating Bounty Funds to Grow Hubble Exchange through Integrations. Its responsibilities include:

• Evaluate and Process Bounty Proposals.
• Support and build a community of devs.
• Work with developers to price bounties and create milestones.

How do you propose a bounty?

To propose a bounty to the committee, applicants may use the following link: https://forms.gle/ivVeRK58jQe42tro9

All proposals received will be reviewed and evaluated.

Transparency and record-keeping

All bounties will be tracked publicly on https://bounties.hubble.exchange

Examples of Projects:

• Structured Products, such as Funding Rate Arbitrage Vaults, Delta-Neutral sAVAX vault, pseudo delta neutral LP vault.
• Bots such as one that displays statistics live in the discord server or one that may text you on telegram if you’re close to being liquidated.
• Tooling such as a leaderboard for top referrals or exchange statistics, LP profitability calculator.

Members

To ensure the efficacy of the Bounties Committee, it is vital to onboard members who possess insight to strategically allocate these bounty funds. Members must be diverse in perspectives and value-proposition.

• Power-users of Hubble Exchange who have a deep understanding of what would bring the most value to our community.
• Strong technical skills, relevant in evaluating scope of work and calibre of applicants.
• Avalanche-natives and DeFi-users who bring to the table a strong understanding of the ecosystem to evaluate and encourage integrations, vaults and other opportunities.
• Traders.

Proposed Members:

Sir MoreMoney

A power-user of Hubble Exchange since Day 1. SirMoreMoney has been diligently accumulating vHubble and making key contributions to governance proposals, as well as expressing interest in contributing at the protocol-level to build limit-orders. He is a co-founder and head of products at the MoreMoney Protocol on Avalanche.

Sindermann

Sindermann has been contributing to TraderJoe as a content creator, creating threads and blog posts as a writer. He possesses a deep understanding of protocols within the Avalanche Ecosystem and has a way of explaining complex concepts very clearly. His contributions to Hubble Exchange include creating threads on important integrations and deconstructing the protocol design. As a result, the Hubbleverse DAO intends to onboard him to the Educators Grant. His grasp over the ecosystem makes him a strong contender for the Bounties Committee.

Asquare08

Part of the core contributing team, asquare08 has made integral contributions at the protocol-level to Hubble Exchange. He possesses a strong technical background in smart contract development and the Hubble Exchange protocol which will be an invaluable resource to developers as they integrate with the exchange.

CalculatorGuy

A power-user of on-chain as well as centralised derivatives exchanges, CalculatorGuy has onboarded over 30 traders to Hubble Exchange through his referral code. He has shared insightful product feedback, including a unique feature request that may increase protocol revenue for makers and enable complex strategies. He possesses a deep knowledge of executing strategies when it comes to perpetuals, such as funding rate arbitrage. His eye for identifying and evaluating the feasibility of real yield and delta neutral strategies will be particularly valuable to the bounties committee.

Luca BWS

Founder of BWS Labs, a Multi-strategy Hedge Fund, built on top of DeFi Vault technology. Luca has over 10 years of experience as a trader and has been trading on Hubble Exchange since near its inception. BWS is currently building a vault on top of Hubble Exchange. As a trader himself, he understands what’s important for trader-onboarding.

Dorlanz

Community members may recognize Dorlanz as the manager of the Hubbleverse DAO. Since Dorlanz’s first onboarding to Hubble Exchange, he has been a key contributor to many salient initiatives, such as the Hubble Space Cats. He has taken initiative to contribute at the product-level with his valuable insights, Business Development with inventive ideas and tokenomics design with his appreciation of good token economy design. His ability to build and maintain relationships is apt for the bounties committee.

Kepler (endorsement written by Set0x)

Kepler is a genesis core contributor of the Hubble exchange DAO. He has made significant contributions to all aspects of the DAO ranging from governance contribution to community building functions, marketing and partnerships, and works closely with other members of the DAO to assist with the continual smooth operation of the Hubble Exchange platform. With his constant contribution, expertise and understanding of every facet of the DAO, he is a potentially invaluable member of the Bounties Committee.

To avoid governance fatigue and to ensure frictionless onboarding of talent, the genesis members of the bounties committee are assigned the capacity to onboard new members through an internal vote.

Bounty Program for Smart Contract Exploits

To incentivize whitehat hackers to identify and report smart contract vulnerabilities, a bounty program is proposed for smart contract exploits.

Pre-authorize Reward:

• 1% of the hackable value of an exploit in vHubble, priced at the seed round valuation.
• A component of the reward paid in USD, at the discretion of the Bounties Committee and based on the scope of the exploit.

The total vHubble allocation proposed to this program is 10,000,000 or 1% of the token supply.

Bounties Committee must quantitatively model the scope of an exploit. This can be independently verified. If the scope of an exploit is $5M, hacker gets $50k in vHubble and USDC.

The Flow:

1. Bug reported
2. Bounties Committee makes sure it is a valid issue, and if user funds are at risk
3. Patch or deploy a fix
4. Determine how much was at risk and give 1% value of the at risk fund as bounty
5. A report is written for the community and DAO.