<p>A bounty is the process of an exchange between two parties. Simply put, bounties reward a task completed by developers. </p><p>When it comes to web3, bounties are rewards given in exchange for specialized work, like devs, and are typically in the form of tokens.</p><p>A Web3 bounty is an excellent choice for blockchain projects, such as DAOs or DeFi, and for professionals. </p><p>Because experts, such as blockchain developers, are still scarce, bounties have emerged as a way to recognize specialists in a manner similar to a ”freelance model”,  despite the fact that they are rewarded in tokens for the completed tasks.</p><p>A web3 bounty can take any form, but they typically relate to problems and features on a project's backlog. </p><p>To address these issues, organizations can use bounties to outsource development rather than hiring a large staff.</p><p><img src="https://taikai.azureedge.net/lXWiDe312RrrHB-aCytXweudaUjH_O7C8fHuaZzkENM/rs:fit:800:0:0/aHR0cHM6Ly9zdG9yYWdlLmdvb2dsZWFwaXMuY29tL3RhaWthaS1zdG9yYWdlL2ltYWdlcy84ZDM3ZTZlMC0zMDYzLTExZWQtYmY3MC1iNTQ3YWU3OGFmNzZ3ZWIzIGJvdW50eSAxNl85LnBuZw" style="width:995px" class="fr-fic fr-dib" /></p><p><strong>Table of contents</strong></p><pre>Why do web3 bounties matter
Types of web3 bounties
Bounty Benefits
Payment methods and the use of tokens</pre><h3>Why do web3 bounties matter?</h3><p>Bounties are, after all, part of the web3 work culture. There is also a "name" for people who seek to provide services in exchange for tokens: bounty hunters.</p><p>These professionals are constantly on the lookout for <a href="https://blog.bepro.network/academy-series-11-tokenomics-incentivization-strategies/" target="_blank">tokenized incentives</a>. </p><p>So, to make things easier for organizations, <a href="https://development.bepro.network/" target="_blank">Bepro’s bounty network</a>, for example, allows companies, DAOs, and protocols to pay out bounties in the form of their own tokens, ETH, stablecoins like USDC, or other ERC-20 tokens.</p><p><br /></p><h3>Types of web3 bounties</h3><p>There are numerous examples, such as bug bounty programs, bounties for reviewing smart contracts, and so on. Let’s understand a bit more about these opportunities: </p><p><br /></p><h4>Bug bounties</h4><p>Before projects are released, developers and researchers search for bugs and are rewarded for each bug found. The reward may vary depending on the security level of the bug. A critical-level bug will pay a bigger prize rather than a low-level one.</p><p><br /></p><h4>Web3 developer bounty for smart contracts: </h4><p>Organizations publish a smart contract code for developers to review and identify flaws.</p><p><br /></p><h4>New features</h4><p>Some web3 bounty programs seek blockchain developers, designers, and UX writers to help them expand blockchain and web3 with new features.</p><p><br /></p><h4>GitHub Repository Bounties</h4><p>Some bounty programs compensate researchers for discovering vulnerabilities and submitting solutions to GitHub repositories. </p><p><br /></p><blockquote><p>👉 Want more details? We thoroughly investigated all of these bountiful ideas for <a href="http://github.io" target="_blank">organizations to accelerate development</a></p></blockquote><p><br /></p><h3>Bounty Benefits: advantages for organizations and web3 projects</h3><h4><br /></h4><h4>Find and attract talents</h4><p>Launching a bounty program will attract talent from around the world to help you test a web3 platform, review a smart contract, or find bugs.</p><p>On the other hand, bounties are a place for qualified professionals to be on the web frontline earning tokens without reporting to a boss. In other words, it's a method of bringing talent closer to your projects by responding to complex demands without hiring a new employee. </p><p>Furthermore, a web3 bounty network is also a low-risk learning curve for anyone looking to transition from a web2 to a web3 environment.</p><p><br /></p><h4>Reduced cost</h4><p>While bounty programs attract talent, they also help organizations save money in a variety of ways.</p><p>To begin with, paying bounty hunters can be significantly less expensive than paying full-time employees. Bug bounty programs, for example, are less expensive than hiring consultant firms or a full team to execute tests.</p><p>Another significant cost saving is related to cybersecurity. You will be less vulnerable if you create a web3 bounty to review a smart contract or to promote tests (for example, with a bug bounty).</p><p>In other words, you are preventing cybersecurity incidents in your organization. It follows that even the most expensive bounties are frequently significantly less expensive than data breaches.</p><p><br /></p><h4>Continuous testing and reporting with developer bounties</h4><p>When a web3 bounty program is designed to encourage developers to conduct tests, they have the opportunity to improve the quality of the product, service, platforms, or system on a daily basis.</p><p>It means that bounties offered to developers and researchers who consistently report bugs, for example, are an opportunity to reduce high-frequency functional bugs before significant damages harm the system or, worse, harm users.</p><p>As a result, a company that tests, finds, reports, and fixes vulnerabilities on a regular basis is less likely to be attacked by malicious individuals.</p><p><br /></p><h4>Building brand and reputation</h4><p>A web3 bounty can help (or be the starting point) for blockchain projects to gain community credibility. This is also helpful in attracting investors and VCs to projects and DAOs.</p><p>If you are a web3 entrepreneur or a web3 investor, following and engaging in hot web3 topics on Twitter and on Discord communities is a great way to generate buzz for your project.</p><p>Because these networks host the largest and best blockchain debates, there is a good chance that you will find blockchain developers and experts to join your bounty program and provide feedback.</p><p>Web3 bounties are also a good way for professionals to start building their reputation and, of course, experience. </p><p>Thus, if you are a software developer looking to become a blockchain developer, completing multiple bounties can help you build your portfolio and land a full-time job in this field.</p><p><br /></p><blockquote><p>👉 <a href="https://taikai.network/en/blog/blockchain-developer-vs-software-developer" target="_blank">Blockchain developer vs software developer</a>: key differences</p></blockquote><h4>Payment methods and the use of tokens</h4><p>Payment with crypto tokens is one of the many game changers when it comes to web3 bounties.</p><p>When an organization sets the reward for a bounty, it will always pay the same amount when the issue is finished. This means that when it comes to web3 bounties, there is no cheaper labor than another. </p><p>This enables a truly global economy, whether a person is in the United States, Thailand, India, Brazil, or Mars.</p><p>It is also fair for organizations because web3 bounties have flexible pricing to accommodate a variety of budgets. There is no minimum price to open a task, and only those who are interested will try to solve your problem. </p><p>The market will eventually regulate itself, based on supply and demand, but the ability to pay with your own token is another highly praised factor to consider.</p><p><br /></p><p>Furthermore, bounties clarify the game's rules, give that a web3 bounty:</p><ul><li><p>Can operate for six months, a year, all the time, or just a couple of days;</p></li><li><p>Experts understand that they will only be rewarded when they complete tasks (and are approved by the bounty promoter), avoiding incomplete deliveries; </p></li><li><p>Everyone is aware of how and how much they will be paid;</p></li><li><p>Stablecoins, such as USDC, which is regularly equivalent to fiat currency fluctuations;</p></li><li><p>ERC-20 tokens, are Ethereum blockchain-based tokens. Smart contracts on the Ethereum network generate them.</p></li></ul><p><br /></p><h3>The Bepro Bounty Network</h3><p><a href="https://development.bepro.network/" target="_blank">Bepro Network's platform</a> was created for bounties, and it includes everything you need to maximize your company's growth.</p><p>Bepro acts as a payment and curation layer for <a href="https://docs.github.com/pt/repositories" target="_blank">GitHub repositories</a>, requiring only this specific source code and file hosting site to handle bounty requests. To use the bounty platform, you must also have a <a href="https://metamask.io/" target="_blank">MetaMask</a> wallet connected and follow three simple steps:</p><ol><li>Make a bounty offer. Create a task outline and assign a reward. </li><li>Engage the community and attract experts to help you solve your tasks.</li><li>Validate and reward, interact with the community, with your preferred token, and expand your ecosystem.</li></ol><h3>To sum it up</h3><p>Organizations, DAOs, and all sorts of web3 projects promote Web3 bounties with the goal of solving specific issues.</p><p>There are numerous examples of bounties, with bug bounties being the most common. Other examples of developer bounties include smart contracts review, new feature development, and GitHub Repository Bounties.</p><p>These rewards are typically paid in tokens, which can be native tokens, stablecoins such as USDC, ERC-20 tokens, or simply ETH.</p><h4><br /></h4><h4>Whether you are a developer or part of a project or organization, you can join or launch bounties through <a href="https://development.bepro.network/" target="_blank">Bepro Network</a>.</h4><p><br /></p><p><br /></p>

A Web3 bounty is a reward given for completing tasks, mostly in the form of tokens and usually paid to developers.

What’s a web3 bounty? Complete guide to bounties

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