Bounty School 3. — Types of Bounties

In the ICO sphere, there are two main types of bounties…

In the ICO sphere, there are two main types of bounties:

1. PRE-ICO Bounty Programs — Like the name implies, these are bounty programs that are carried out before the actual ICO. They are usually done to build momentum and to give the cryptocurrency project an improved presence on social media platforms.
2. POST-ICO Bounty Programs — Post-ICO bounty programs are aimed at improving feedback from the crypto community.

Social media bounty.jpg

Pre-ICO bounties:

• Social Media Campaign Bounties
  This involves activities that promote the ICO on the social media accounts of participants. The rewards earned depend on the engagement levels generated by such posts. This can be in the form of retweets, likes, shares, views, and comments. The popular social media platforms used for ICO bounty programs include Facebook, Twitter, and YouTube.
• Article Writing Bounties
  ICO bounty programs can offer rewards to bloggers to write featured articles about the ICO on their blogs. Just like the social media bounty, the rewards will be dependent on the engagement level of the articles and blog posts.
• Bitcointalk Signature Bounties
  This is a popular bounty for many ICOs. It is open to participants of the Bitcointalk forum. The ICO releases a signature with a code embedded in it. The ranking of the participants who post this signature determines the number of stakes they get. For most bounty programs, only people on Bitcointalk who are Jr. Members and above can participate.

Post-ICO bounties:

• Translation Campaign Bounties — This involves translating all documents for the cryptocurrency project as well as moderating different forum groups. The common translation activities include cryptocurrency website, white paper and the Bitcointalk ANN thread.
• Bug Reporting Bounties — Apart from being an effective bounty campaign activity, bug reporting also helps the developers. A good bug report clearly and concisely identifies issues with the cryptocurrency software or platform.

Note: There isn’t a strict rule as far as the activities for Pre-ICO and Post-ICO campaigns. Cryptocurrency ICOs can decide to use any of the aforementioned activities in either type of bounty programs.

Dear readers, hope you enjoyed reading another one of our educational article. Hope it will be of use if you decide to participate in some of the bounty programs that ICOs announce every day :)