According to an announcement on ETHGlobal, INTMAX is offering a $5000 reward for ideas that improve its compensation system for users who contribute to the network’s privacy. INTMAX’s reward is among the many offered by different networks during the ETHGlobal Brussels 2024, running from July 12 to 14.
INTMAX, one of the key sponsors of the upcoming ETHGlobal Brussels, is an Ethereum Layer 2 zKRollup. The hackathon is one of Europe’s largest blockchain events, offering developers up to $500,000 in rewards. Other networks providing rewards for participants in the ETHGlobal event include the Uniswap Foundation, PancakeSwap, NEAR Protocol, Ethereum Foundation, and more.
Anyone participating in this contest can develop or propose a mechanism to reward privacy users. The method can reward users through options like mining or airdrops. The announcement outlined that participants wishing to submit ideas should make them more compelling than developed or implemented reward solutions.
The announcement mentioned that the platform would provide participants with documentation of the problems they were to solve. Contestants should also apply for the prize when submitting their ideas.
INTMAX hopes more users join its network
INTMAX depends on more users on its platform to create better user privacy. More users wouldn’t equal more competition for the rewards; it would equal more privacy benefits for every user in the network. The contest’s announcement portrayed INTMAX’s hope that these reward solutions could introduce more users to the network.
“The more participants there are in a privacy protocol, contributing their funds and usage, the more privacy is afforded to everyone involved.”
INTMAX
INTMAX pointed out some of the issues that more user participation in the network might cause. For one, bad actors could take advantage of any loopholes in the privacy reward mechanism to get rewards for free without contributing to the system’s privacy.
“Developers aren’t required to program the deposit and withdrawal process, or even provide any privacy guarantees, but simply focus on designing the actual reward system.”
INTMAX
INTMAX encouraged the contest’s participants to close these loopholes to prevent bad actors from manipulating the network. The contest encourages developers to find the best solutions to address these privacy rewards issues.
PlasmaCon event to take place at the end of July
INTMAX announced on X that PlasmaCon would be held on July 31 in Japan Blockchain Week. The announcement noted that key speakers would discuss Plasma, privacy, statelessness, scaling Ethereum, and more.
Ethereum Founder Vitalik Buterin, INTMAX co-founder and Plasma researcher Leona Hioki, and Justin Drake from the Ethereum Foundation will speak during the PlasmaCon. These speakers are among the 20 who are supposed to appear during PlasmaCon.
The PlasmaCon event will occur alongside EDCON2024, which confirmed INTMAX as a fam sponsor. The event will feature 10 lectures and 400 attendees. The United Nations University in Shibuya, Tokyo, will host it.
