BNTY is the utility token that ensures that all users on the Bounty0x network are honest. Bounty Hosts, Bounty Hunters, and Bounty Sheriffs stake BNTY in order to interact with the network.
Every time a user is not honest, a portion of his staked tokens are burned.
Bounty Sheriffs need to stake BNTY in order to review the work of Bounty Hunters. If a Bounty Sheriff makes an incorrect verification, a portion of his staked tokens is burned. If a Bounty Sheriff makes a correct verification, he will receive a portion of the fees generated.
If you want to read more about BNTY and the Bounty0x network, feel free to check out our whitepaper.