Initial Bounty Offering (IBO) is a way of launching projects, where contributors are incentivized with free or discounted tokens for their service. Blockchain enthusiasts who have dedicated their time and resources to back up a project are often eligible for IBOs.
Oftentimes, these tasks include translations, helping out with marketing, and even human resource developments. Individuals who are emotionally committed to the project receive the IBO. It is more of a mental commitment when it comes to IBOs.
Apart from IBOs, there are several projects that reward coders for identifying flaws. This is commonly known as bug bounties which can go to several thousand. As for the tokens received during IBOs, individuals can entirely cash out, when it gets listed to an exchange, or hold on for future gains.