because ico teams do not have fiat. that is why they launch an ico. they need money to launch their project. so there is no way to distibute fiat to bounty participants. moreover i dont think they would like to spend fiat for bounties even if they have cash.
well said dude! Practically these developers are looking for funds that's why they lauched their own ICO to raise its funds from scratch. Most of the ICO start ups with little to no fund just an idea alone so its basically no chance for them to give fiat money as payments for the bounty participants.