Polkadot incentivizes its community to fight scams with ‘anti-scam bounty’

Polkadot, a protocol for connecting blockchains, has Announce Its latest move is to help its ecosystem fight scams.

According to the company, relying on security-minded individuals within the community to fight scams has proven to be an effective way to protect its ecosystem. To incentivize community members to continue doing this work, Polkadot has been rewarding them with bounties paid in USDC.

Polkadot shared that its bounties are currently managed by the Chief Curator, which currently consists of three community members and two from W3F’s anti-fraud department. However, in the long run, Polkadot hopes that bounties will eventually be managed exclusively by the community.

As part of a community-led anti-scam initiative, community members are tasked with finding and taking down scam websites, fake social media profiles, and phishing apps, and protecting their Discord servers from attacks. In addition, the community will create educational materials for users as well as an anti-fraud dashboard, serving as a central hub for all anti-fraud activities in its ecosystem.

Overall, the initiative encourages participating members to come up with ideas for expanding anti-fraud activities into other areas. By decentralizing their anti-fraud efforts, the Web3 Foundation and Parity have shifted their decision-making process to the community.

Related: Polkadot Co-Founder Gavin Wood Steps Down as Parity CEO

Polkadot appears to be taking the necessary steps to grow and strengthen its ecosystem. On October 17, Cointelegraph reported that Polkadot dev activity hits all-time high. Project developers report that there are now 66 blockchains on Polkadot and its parachain startup network, Kusama.

Since its inception, over 140,000 messages have been exchanged between chains via 135 message channels. The Polkadot and Kusama treasury have cumulatively disbursed 9.6 million DOT and 346,700 KSM (a total of $72.8 million) to fund spending proposals in the ecosystem.