Yes all bouty participants have received w12 a few months ago, only the token is still locked until w12 enters the exchange.
Not only exchanges, but until w12 finish doing the IEO.
This token re-doing sale, the IEO this month. The reason is clear why it can't be traded, because of the IEO.
there is a good and negative impact, if they unlock their W12 tokens, surely a dump will occur, then the IEO will be useless because investors and bounty hunters will sell W12 cheaply, but I'm sure if their strategy is carried out with plans, the price of W12 will tend to rise
the team made a good decision of locking the token until when listed before unlocking otherwise price must have dump really hard by now and investors will be the ones to suffer, you bounty guys can sell off their token for any amount and with the help of fd and ed for free listing, w12 price would have low below ico, but even now the IEO rate is below the ico rate, i hope this wont affect the price when listed.