Important Dates
March 18, 2024
Winners will begin to receive an email from ETHDenver to begin payout process.
June 15, 2024 - 5:00pm
Last day of ETHDenver 2024 Bounty Payout Program. If you miss this date to submit your KYC and Tax Forms, you forfeit your prize winnings.
Prize
Distribution
When a team wins prize money, it’s split so that each team member gets an equal share. For example, if a team of four wins $1,000, each person gets $250.
However, if your team prefers not to split the prize money evenly, you can select one team member to claim all the prizes. This person will also take on the responsibility of dealing with the taxes on the total prize amount. To proceed with this option, every team member must complete a form to officially agree to forfeit their share to the chosen individual.
After receiving all the necessary forms, ETHDenver will then pay the total prize money to that person, who will need to manage the tax implications based on their residency.
Remember, you have two options for prize distribution: split it equally among all team members or appoint one person to claim the entire prize.
Or, you can forfeit your prize money to support #BUIDLers at ETHDenver 2025
Claim Form
Each winner will receive an email initiating the prize claim process. Like previous years, #BUIDLers are presented with three options:
- Fulfill KYC (Know Your Customer) & Tax Forms to receive their prizes.
- Redistribute their prize to team members.
- Redistribute their prize to support #BUIDLers at ETHDenver 2025
Upon form submission, we will notify our accounting team of the #BUIDLer's decision, leading to one of three actions:
- For those choosing the first option, we will set up a user account for completing KYC and Tax Form submissions.
- For those redistributing their prize to their team, a waiver will be provided via Docusign. This allows teams the flexibility to manage their funds differently than dictated by ETHDenver (even split), with one team member officially claiming the prize.
- For those redistributing their prize to future #BUIDLers at ETHDenver 2025, a waiver via Docusign will facilitate this process. This option supports the #BUIDL Bodega and scholarship programs
Should you not complete this form by June 15, 2024, at 5:00 PM, your prize will automatically be allocated to support #BUIDLers at ETHDenver 2025. If no one in your team wants to claim the prize, the funds will automatically be allocated to support #BUIDLers at ETHDenver 2025.
Option 1
Step One:
Once you've filled out the online form, ETHDenver will send you a link to create a user account. This account enables you to complete the Know Your Customer (KYC) procedure with our selected KYC provider.
Step Two:
Following the verification of your KYC information, we will provide a link for you to submit your tax documentation. It's important to note that prize earnings are classified as "Individual Income" rather than "Business Income." As such, you are required to submit one of two tax forms based on your residency status:
- For U.S. Citizens: Form W-9
- For Non-U.S. Residents: Form W-8-BEN
International Participants: Please note, any incomplete submission of Form W-8-BEN or, if we are unable to verify your information against the IRS, it will result in a 30% withholding of your prize money. It is your responsibility to figure out how to complete your tax forms.
U.S. Citizens: If you submit a Form W-9 on behalf of a business, we will request a resubmission of the Form W-9 as an individual to comply with our guidelines and ensure your prize payments are processed correctly.
Under 18 Winners: Your parent or guardian will have to complete the tax form as you. You will have to contact ETHDenver to request this change.
Step Three:
Once the KYC process is complete and your tax forms are submitted, ETHDenver's Accounting team will proceed with your payout in Polygon USDC to the wallet address you have provided to Devfolio.
Option 2 or 3
Step One:
Once you've filled out the online form, ETHDenver will send you a link to submit your Docusign to waive your prize money to either your teammates or to support BUIDLers at ETHDenver 2025.