> The purpose of the procedure is to provide the European institutions with open source software projects or libraries that have been properly screened for potential vulnerabilities;
I don't think bug bounty is a substitute for certification. And it benefits the most if is a long-run with accumulating rewards.
making it short term with only one payout will only attract people with automated tools for the initial period. Then code will get "certified" and forgotten. It all seems wrong. Hopefully it is just bad wording on the official PR.