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Bounties have various states:

Open

Donations are invited. Each donation counts as a vote. When the total donated reaches a target amount, the task associated with the bounty can begin.

Underway

The bounty has reached its target and the associated task is now underway. Donations are no longer accepted.

Completed

The task associated with the bounty has been completed and the item is now closed.

Expired

The bounty did not reach its target in a reasonable timeframe so it was expired. Any donations it may have attracted were distributed evenly between all other bounties open at the moment of expiry.