Hello Everyone!This project will consist of more parts and is mainly aimed at new members of the community. I wil lstart with thos post, talking generaly about what the bounties are. I will post new How Tos: probably every week, going in depth into the diferent boutnies and eventually link them to this main post. I hope that this article will help someone to understand the bounties and eventually join the bounty hunters squad!
What are the bounties:Bounties are often part of the pre-ICO and ICO of new projects. It is kind of a mass marketing campaign. New projects aim to make their name moew broadly spread and eventually meet the greater goal of hittin the hard cap of the ICO.
First of all, the most common kinds of bounties:
- Signature
- Social Media
- Content
- Translation
- Telegram
- Airdrop
Bounty Pools:The bounty pool has high variety of sizes. IT is mostly linked to the scale of the project, sometimes getting difficulty into account. There are 4 main categories of bounty pools:
- % of all tokens
- % of tokens sold
- fixed amount of tokens per work
- fixed amount of a currency (often fixed ETH value, sometimes fixed USD value)
Bounty pool is then divided between the different bounties. In general, most of the pool goes to the Signature.
You can find my article about how to choose most profitable bounty here:
LINKIn my experience, % of all tokens is the best way to go as it yields the highest profits. The main difference between % of all tokens and set amount of tokens per work is, that set amount does not yield stakes. You know right away, how many tokens you will have, but in the case of % and stakes, the profits cold be much higher (depending on the amount of participants).
What are stakes?Stakes are widely used form of rewarding the work of bounty hunters right away. Every kind of bounty has its own stakes reward. Let's say you will gather 100 stakes in Twitter campaign and the pool for whole campaign is 100 000$. The total amount of stakes at the end is 35 000. Each stakes is then worth 2,85$ (100 000/35 000). So your reward will be worth 285,7$ (2,85*100).
What are the risks of participating in the bounty campaign?There are many risks, but in all cases, boutny hunters ALWAYS risk only their time. You can't lose teh roof over your head out of the bounties. So you don't really be affraid to participate in the bounties.
To point some risks out:
- ICO will not reach soft cap and project will close for time being
- Project is a SCAM, will gather money and never pay out bounties (the loss here is hardest for the investors)
- Project is not a SCAM, but does not want to pay out promised tokens/coins (happens quite a lot, dealys in pay out, they figure out the rewards are kindy high so they lwoer them and so on)
Why you SHOULD be participating in the bounties?Quite easy money without any attachements. You can pick the bounty most suited for you (depending on your free time, translations generaly take the most time, but yield the most and so on). Signature bounties are super easy, for someone who is using this forum quite a lot.
Conclusion:I hope this article has helped you at least a little bit with the general idea of bounties. I will eventually update it if i remember something to put here or if i find good suggestions in the replies. As I said, I will produce more How Tos, starting next week with Signature Bounty.
