diff --git a/117.md b/117.md
index 6c58965..39d8278 100644
--- a/117.md
+++ b/117.md
@@ -12,7 +12,7 @@ This NIP defines a standard for creating, applying to and assigning bounties.
 
 ## Event Overview
 
-1. **Bounty Event:** defined as a regular event of kind 30050. This event is published by the creator of the bounty.
+1. **Bounty Event:** defined as a parameterized replaceable event of kind 30050. This event is published by the creator of the bounty.
 
 2. **Bounty Application Event:** defined as a regular event of kind 8050. This event is published by an applicant and should reference the **Bounty Event** with a single `e` tag.