I am trying to determine if it still makes sense to use Bounty for promotion of crypto projects - has there been any successful projects that actually used Bounty and then awarded bounty participants?
All types of marketing campaigns are still quite feasible to use in this forum, Bounties are no exception. However, people will not be able to blindly believe that the type of token sale that will be carried out is by ICO. There are already a lot of platforms out there that are safer to use in buying tokens that are not yet listed, the types of sales they do such as IDO & IEO.
Back to the question: Does it still make sense to use Bounty promotions here?
The answer is: Yes.
If your project is about crypto then yes this forum can help you a lot. Among the bounty, sig campaign alone, creating an ann thread and forum ads, the bounty must be the one that is super effective because the promotion is not only limited inside the forum but it's also the most costly one if you are paying using an established crypto which is must so that it won't affect your own coin and then it makes the bounty hunters confident.
ICO was once a thing here but they aren't anymore. There are now new types or new ways to fund a project but it doesn't mean that they are all successful. To fail is still inevitable especially if the team is not doing their best.