Initial Bounty Offering (IBO)

An initial bounty offering (IBO) is a method of launching a token in which the project gives tokens away as payment for work rather than selling them in an initial coin offering. Participants earn tokens by completing bounties, such as finding software bugs, translating documents, writing code, creating content or promoting the project on social media. The idea, which appeared during the ICO boom of the late 2010s, was to spread tokens among people who contribute to a project and to avoid some of the legal issues of selling tokens to investors. In practice, bounty campaigns often attracted low-effort promotion, fake accounts and spam, and receiving tokens for services can still have tax consequences. It is related to an airdrop, which gives tokens away with few or no tasks. Also see bug bounty.