The fear of dumping often makes the project team fear or avoid the payment of hunters until sometimes after the exchange listing. I wonder why the team make themselves restless on an easy thing like that when they can easily conduct their bounty with bitcoin or ethereum for payment. That will safe them of the fear that the bounty hunter will dump after the exchange listing.
A real project focuses on to achieve their roadmap. A dumping of 5% of their token won't make any difference. Exchange listing is one of the checkpoint in the roadmap.
The team really has no time watching at the coin price movement if they are really dedicated to deliver what they have stated they would.