The carefree and enormous spending of such projects completely raised the bar in terms of service costs in this industry- for example, exchange listing fees multiplied nearly hundred-fold, with some large exchanges charging over a million dollars for a listing during the height of the rally. Although many crowdfunded projects had no problem covering the incredulous listing costs, this left the few original unfunded projects unable to gain a place on such platforms with huge audiences. Bismuth was one of such projects, and till this day relied on its development fund- fully denominated in BIS- to cover bug bounties, community engagement prizes, listing costs on small exchanges, and test-net rewards. The development fund has witnessed very conservative spending over the past couple of years, and the Bismuth Foundation has decided to completely revise the spending strategy by introducing a completely new and radically improved bounty programme.
The Bismuth Foundation