The proper place for that would be either in "Services" or "Project Development".

I would honestly say yes and no.

There are good quality projects being developed but there is a shit ton of shit projects being promoted heavily though the trend has reduced to some extent. You see the whole project development thing is good and people join them provide their services and get paid. Its like a day job there.

This is not the same as what the word "bounty" is commonly used for here. The term you are looking for is "team member" I believe. Bounty is for rewarding some users who take part in promoting the project and not develop the project.