A bounty is a reward or series of rewards advertised by a blockchain project to incentivize community participation to promote the project.
Understanding the Term
In the world of crypto, a bounty is a coin/token given as a reward to users for successfully completing certain tasks on the blockchain networks of particular projects.
Bounties are marketing strategies most commonly carried out during a startup’s inception as initial coin offering (ICO) campaigns. However, they can also occur at a later point within a project’s development. They are used to reward social media promotion campaigns, content creation campaigns, as well as translation campaigns, among other tasks.
Crypto bounty reward programs are frequently used as a promotional tool by coin developers to incentive actions before the initial coin offering (ICO).