Chainbounty (BOUNTY) is the first decentralized vulnerability bounty platform based on blockchain technology, aiming to connect security experts with Web3 projects through a token incentive model. As of January 2025, its ecosystem has covered more than 120 blockchain projects, with a total payout of vulnerability rewards reaching 43 million US dollars (approximately USD). This article will provide an in-depth analysis of this innovative project in the security field from four dimensions: technical architecture, token economic model, market performance, and future plans.