IBO (Initial Bounty Offering)

A Bounty is a sum of money offered as a reward for completing a specific task. When a company launches an IBO (acronym for Initial Bounty Offering), it invites parties to – during a limited period of time – perform certain tasks. Tasks can include marketing, translation work or finding bugs. In exchange for performing such tasks, the task-performing participants normally receive a certain allocation of tokens. Different from a normal ICO, however, an IBO does not entail investment of capital (merely investment of time).