Following the footprints of Bitcoin and other cryptocurrencies, ICO's have also raised over 2 billion USD of investment in the year 2017 (source).
Though ICO's have market of investors worldwide, still they have to find them and tell them about their ideas in order to attract their investment.
ICO Bounty program is an idea inherited from online gaming world, where tokens are reserved to incentivize 'bounty hunters', who support the startup before and during the ICO. Bounty Hunters are people who do tasks related to promoting the ICO to a community of investors.
The bounty program is great way to earn tokens without investing capital. Bounty hunters are the safest investors as they get tokens without getting their money involved.
Today almost all ICO's have bounty programs whose detail can be seen in there white papers.
Successfull ICOs like Bancor and ICONOMI have launched a bounty program before their token sale.
How ICO Bounty Program works
To understand how ICO Bounty Program works, there is no better way but to explore details of a real world ICO Bounty Program.
INS is world's first decentralized platform that will directly connect Grocery manufacturers with consumers. It also has a bounty program and number of INS tokens (currency of INS ecosystem) reserved for this program are 5 million.
Here is a further breakdown of these 5 million INS tokens:
Activity - % of Bounty Pool
BitcoinTalk Signature Campaign - 30%
Social Media (Facebook & Twitter) - 20%
Blog Article & Video Campaign - 20%
Translations - 15%
Telegram - 2%
Miscellaneous - 13%
Above table shows percentage of INS tokens reserved for activities that make up the Bounty program. Every ICO has different set of activities and its own terms and conditions. Terms and conditions for INS Bounty program can be seen at INS bounty Program.
Bitcointalk Signature Campaign
In this campaign, bounty hunters have to use signatures provided by the ICO for their posts on BitcoinTalk. You need to be an active member at BitcoinTalk to participate in this campaign. Bounty Hunters will get tokens upon fulfilling requirements like posting 15 posts per week at BitcoinTalk.
Social Media (Facebook & Twitter)
No marketing in complete without social media marketing. For social media related campaign, Bounty Hunters have to like, share and posts of their ICO's. One must have 200 to 300 facebook friends and followers on twitter in order to participate in this campaign.
Blog Article & Video Campaign
In this category, bounty hunters write blog posts and articles revealing details of ICO and post them on various sites. Tokens are also reserved for Hunters who make videos and share on sites like YouTube.
This category is meant for hunters who can do tasks related to translation like translating website to other languages like German, French so that non-English people can also understand the contents. Other translation options include, translation of white paper or one pager