diff --git a/.github/ISSUE_TEMPLATE/new-bounty.md b/.github/ISSUE_TEMPLATE/new-bounty.md
index 395aa1d..00ed1b2 100644
--- a/.github/ISSUE_TEMPLATE/new-bounty.md
+++ b/.github/ISSUE_TEMPLATE/new-bounty.md
@@ -28,6 +28,12 @@ Thank you for your patience and understanding.
 
 <!-- Mention the reward for successfully completing the bounty -->
 
+## Timeframe to Completion
+
+<!-- timeframe to avoid hogging of bounties. Change as appropriate. -->
+
+Once the application is approved, the result must be submitted within 30 days.
+
 ## Application Evaluation
 
 <!-- Criteria we will use to select the hacker that will do the bounty -->
diff --git a/README.md b/README.md
index 4f0e68a..0322d76 100644
--- a/README.md
+++ b/README.md
@@ -6,13 +6,13 @@ Bounties are a way to incentivize community contributions for certain tasks that
 
 ### Available bounties
 
-The currently available bounties are listed [here](https://github.com/waku-org/bounties/labels/approved).
-All the bounties with 'open' and 'approved' labels are available.
+The currently available bounties are listed [here](https://github.com/waku-org/bounties/labels/open).
+All the bounties with 'open' labels are available.
 
 
 ### Applying for a bounty
 
-Bounty applications are done through GitCoin (WIP).
+WIP
 
 
 ### Propose a new bounty