Specifically, Telegram will be organizing a 3-phase competition, with a particular reward tier for all required objectives, which falls between $200,000 to $400,000, as revealed on the Telegram Contests channel on September 24.
The main task of the competition is to design a one or numerous smart contracts, with the tools coming from the TON Blockchain distribution.
The two add-on objectives, which are optional, are generating pieces of advice for TON Virtual Machine and FunC and TON Blockchain bug bounty contest, as revealed by the firm.
As specifically stated in the contest-related documents, Telegram is looking for a winning developer, who is able to build smart contracts with one or more of the following features: multi-signature wallet, two types of simple TON DNS Resolver smart contracts, a synchronous two-party payment channel, and an asynchronous two-party payment channel.
As for anyone who enters the TON Blockchain bug bounty contest, they need to provide a description, accompanied by a scenario they come up with for its exploit. Should the developers managed to take advantage of the bug by transferring the assets sitting in another individual to their account, they could walk away with $200,000, together with the previous $200,000 awarded to smart contract developers.