Bounty hunters risk on ERC20 tokens in ICO

[aioc]

I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,

So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.

what's your take on this bounty hunters?

[Nalbo]

and will only unlock it maybe after they dump all their shares and run away.

I realize it could be done to devoid bounty participants of rewards. But not all projects are scam and it could be a good move to stabilize the price before completion of the roadmap. ICO takes money to start a business and if people start selling their tokens before the business yields profit, the price of the token may crash. Locking can be misused but it's a good tool to check the price of token and stop it from crashing.

[aioc]

and will only unlock it maybe after they dump all their shares and run away.

I realize it could be done to devoid bounty participants of rewards. But not all projects are scam and it could be a good move to stabilize the price before completion of the roadmap. ICO takes money to start a business and if people start selling their tokens before the business yields profit, the price of the token may crash. Locking can be misused but it's a good tool to check the price of token and stop it from crashing.

Well Dexage lock their token for 6 months, damn after so many months of waiting, Liker is unlocking a small percentage and this could take  years to fully unlock all, this rules is only meant to discourage bounty hunters to participate, the worst thing that could happen is they unlock with them nowhere around and the value of their coins is zero, bounty hunters will become the laughing stock.

[Mikcik]

They offer unlocking time for bounty tokens. So if at that time the price of the token increases more than the current number. Do you think like now?

[freedomgo]

That's not good for bounty hunters, the team changes the rules after the campaign is over, this is to delay the distribution of the tokens.
Maybe they are just doing it to avoid dumping but they should not violate the terms they previously implement, it's a big bust on their reputation, investors will surely look at it, and might affect the future of the project in a bad way.

[cabron]

Its an ERC token so you could have demanded to be sent in your own ether wallet but if its sent to a platform where they can sent the bounty hunter's fee then its going to be a terrible days for you specially if they ran away already. ICO are now only for scammers, IEO is the new way now. This may also change in the future, God knows what they can invest yet its all the same thing.

[ccsang]

Most of the project given reason for lock bounty rewards is prevent dump the tokens price by bounty hunter, as a bounty hunter also can't do anything because team always change the rules without permission, it's risk because some of them will run away before tokens unlock, but not all the project will become scam.

[rosezionjohn]

This is not the first time it has happened. I also have an erc-20 token called NST (now AIV) which I got as a reward from bounty. It's been locked for over a year already but I have no complain as I see the project moving forward. But yes, I also see the risk you are referring to.

[leonair]

That's the important of reading such instructions before joining a bounty campaign. If you know that they are doing this then don't waste your time in participating, simple as that.

Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.

[knuckey]

That's right and very sad, I also found these two projects, menapay and jarvis. Both of them lock reward bounty hunter and especially menapay who cut the reward allocation when the distribution wants to start, very badly. Indeed their developers have reason to do it, but they should announce it when the campaign starts and is announced in their bounty thread. So that there is no commotion, loss and disappointment that will be caused.

[aioc]

That's the important of reading such instructions before joining a bounty campaign. If you know that they are doing this then don't waste your time in participating, simple as that.

Most of the bounty campaign participants would convert their bounties to their desired altcoins after an ICO releases its token or available for trading and that was long overdue so if new ICOs change it this way then goodluck to them in getting a good campaigns.

If they are going to announce it before the start of the campaign, nobody will join that campaign, they are good when they are starting the campaign, but after that, they change the rules to often, that one-year locking is too much I don't think that has the intention to unlock that token anymore.

[perla]

I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,

So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.

what's your take on this bounty hunters?

Usually at first or maybe in page 1 there are mentioned that bounty reward will be locked for certain time, if the dev really want to do it. And for me if the project really good i think no problem if must wait.

[RomanPetrush]

We need more regulation in ICO and cryptocurrencies. Any company for sure could do that.. and they do that. When You send ETH to someone for erc20 tokens, that means that your assets in other hands even if you have this erc-20. Just gambling, never know.

[Jpti]

This is very much bad aspect of the projects launching bounty campaigns. Before they establish their projects, they need publicity to help them to get to that place. And that is where bounty hunters come in helping them establish their project by publishing their projects through bounty campaigns. But they are the one who often do not value bounty hunters. Very sad. 

[BurstBurst]

I think the risky bounty can not be avoided, especially the bounty is spreading on the forum and I can say that not all of these are legit but there are also bounty legit but few in erc20 maybe they plan to make tokens or replace of the tokens when they have funds.

[lovesybitz]

I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,

So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.

what's your take on this bounty hunters?

You can only own it once you are able to transfer it into the exchange where you can sell it there at anytime you want.  
And as far as I know there 20% that will be unlock to their wallet, and besides DXG or dexage is not the only utility token
did this in this business with crypto trading.

[Callanta787]

Sounds like another trick scams project use this days ,its a good idea to lock tokens to avoid dumps but it should be in a matter of time ,its should be announced on there social media channels ,some are up to a year and the lesser ones are around 6months ,i was able to make better profits from the project that does this to me in the past,it works actually.

[Buntel168]

I don't know if everybody knows this, but there is now a risk in getting involved in ERC20 based ICO, and that is they are locking bounty hunters rewards after they've sent it to their bounty hunters,

So even if the coins are already sent to your wallet you really don't own it, because they can lock it anytime at their whims that's what happens to Dexage and Liker, they sent the tokens to their bounty hunters then lock it, so they will not dump, and will only unlock it maybe after they dump all their shares and run away.

what's your take on this bounty hunters?

All of that is a risk for bounty hunters, but for me it's a ridiculous if they lock the token. I don't think it's just on Dexage and Liker. I also saw the Twogap project too, bounty hunter can be trade only 40% from token they earn and 60% will be unlock 1 year after listing.

[LogitechMouse]

This strategy favors to the team because bounty hunters can't sell their token as it is locked.

I'm not surprised that this kind of strategy has been done by different ICO's already because I also experienced this kind of situation. The team knows that most if not all of the bounty hunters will sell their tokens immediately so before they will do it. The investors and the team themselves will sell their tokens leaving the bounty hunters empty handed .

[Shatterlean22]

If the project is legit I don't mind the lock for the time being to at least avoid dumpers ,its one of the way to control dumpers and I like it ,for those saying it favours the teams just put yourself in the teams shoe ,I'm not supporting those project that put locks on tokens just to sell there own tokens ,I'm talking about serious projects