diff --git a/117.md b/117.md
index 330c184f..1cc8ae9d 100644
--- a/117.md
+++ b/117.md
@@ -28,7 +28,7 @@ The following tags MUST be present:
 
 - A `d` tag to provide a unique identifier for the bounty.
 
-- An `s` tag to track the current status of the bounty: `open`, `assigned`.
+- An `s` tag to track the current status of the bounty: `open`, `assigned`, `canceled`.
 
 The following tags MAY be present:
 
@@ -40,7 +40,9 @@ The following tags MAY be present:
 
 - A `context` tag to provide a link to a website or other resource that provides more information about the bounty.
 
-- A `p` tag of the applicant public key to track who is currently assigned to the bounty. **NOTE** This tag must be present when the bounty has the `assigned` status.
+- A `p` tag of the applicant public key to track who is currently assigned to the bounty. **NOTE** This tag MUST be present when the bounty has the `assigned` status.
+
+- An `application` tag with the stringified **Bounty Application Event**. **NOTE** This tag SHOULD be present when the bounty has the `assigned` status.
 
 ## Bounty Application Event
 
@@ -60,11 +62,13 @@ The following tags MAY be present:
 
 The following is a description of the lifecycle of a bounty:
 
-1: **Open:** The bounty is created and published by the creator and accepting applications.
+1: **Open:** The bounty is created and published by the creator and accepting applications. The bounty MUST be created with an `s` tag of `open`.
 
-2: **Assigned:** The bounty is has been assigned. 
+2: **Assigned:** The bounty has been assigned. The bounty MUST be updated with an `s` tag of `assigned` and a `p` tag of the applicant public key.
 
-3: **Completed:** The bounty has been completed by the applicant and the creator has accepted the work. This can be inferred by the client by looking up a zap receipt referencing the **Bounty Event** and the assigned user's public key. The **Bounty Event** content should match the content found in the description of the **Bounty Application Event**. The reward should match in the zap receipt, **Bounty Event** reward tag and the reward tag found in the description of the **Bounty Application Event**.
+3: **Completed:** The bounty has been completed by the applicant and the creator has accepted the work. This can be inferred by the client by looking up a zap receipt referencing the **Bounty Event** and the assigned user's public key. The **Bounty Event** content MUST match the content found in the description of the **Bounty Application Event**. The reward MUST match in the zap receipt, **Bounty Event** reward tag and the reward tag found in the description of the **Bounty Application Event**.
+
+4: **Canceled:** The bounty has been canceled by the creator. The bounty MUST be updated with an `s` tag of `canceled`.
 
 ## Motivation