Whether you choose the first or second option, both have advantages and disadvantages. Those advantages and disadvantages mainly come from honesty of bounty manager or project team. It doesn't matter if both manager and team are honest and vice versa if one party is dishonest. From point of view of a bounty doer, I prefer the first option based on the fact that bounty manager's reputation can be evaluated through time. Whereas, project teams' are not that easy to evaluate.