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Bounty Programs Cryptocurrency is an incentive offered to various participants for various activities related to Initial Coin Offering (ICO). The participants square measure unfold across varied stages of ICO and begin from investors to ICO promoters and developers. Incentives can be in the form of cash prizes (usually rare) and free tokens or discounts that can be cashed later when tokens are listed on the exchange.
Broadly speaking, there are two stages for ICO. In the first phase, also known as pre-ICO, offers are marketed to potential investors. This includes social media influencers, blog writers and Bitcointalk Signature Bounty marketers.
Social media figures and blog writers make videos, write articles or spread the word about ICOs on popular platforms. They are paid based on their content involvement with viewers. Bitcointalk Signature Bounty marketers are Bitcointalk members, a popular discussion forum for crypto fans. They are asked to post signatures with ICO details in them and are given tokens of sales based on their seniority in the forum. These channels form reach to various types of investors, from lay to institutional. At this stage, content mostly discusses blockchain analysis and its advantages and disadvantages.
Developers also receive substantial tokens as payments for their participation in project coding. This token can be redeemed for fiat currency, when the token is listed on the exchange. For example, Ethereum and Zcash both have substantial prize campaigns for developers who help set up blockchain.
During the second phase, also known as post-ICO, the focus shifted to the fine tuning of the blockchain released. Reward prizes are offered to translators, which help ensure global reach for blockchain by translating documents related to development and marketing. Prizes are also offered to coders who test and detect deficiencies in the blockchain. The last type of prize is known as a gift bug. In practice, this is similar to the prizes offered to supporters by people like Facebook and Google.
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