In the ICO sphere, there are two main types of bounties:
PRE-ICO Bounty Programs – Like the name implies, these are types of bounties that users perform before the actual ICO. They are usually done to build hype and to give the cryptocurrency project an improved presence on social media.
- Social Media Campaign Bounties
These bounties include activities that promote the ICO on the social media accounts of participants. That means that rewards earned depend on the engagement levels that such posts generate. This can be in the form of retweets, likes, shares, views, and comments. The most popular social media platforms used for ICO bounty programs are 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 depend on the engagement level of 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 Bounty Programs – Post-ICO type of bounty programs have a goal to improve feedback from the crypto community.
- Translation Campaign Bounties – This involves translating all documents for the cryptocurrency project as well as moderating different forum groups. Therefore, the common translation activities include cryptocurrency website, white paper and the Bitcointalk ANN thread.
- Bug Reporting Bounties – Not only is it an effective bounty campaign activity, but bug reporting also helps the developers. Most importantly, a good bug report clearly and concisely identifies issues with the cryptocurrency software or platform.
Note: There isn’t any defining rule as to which activities are done for Pre-ICO and Post-ICO campaigns.
It is important to mention that cryptocurrency ICOs can decide to use any of the aforementioned activities in either type of bounty programs.