Bounties
Every week, the Bounty system (Shift + H) randomly selects five formidable foes that are ripe for the taking. Victorious hunters reap rewards. The target monsters and their corresponding rewards are refreshed every Tuesday, along with other weekly endeavors. Note that these challenges take place exclusively in the open world, not in instanced locations.
By tracking down and subduing a Bounty, you can claim Bounty Honor Tokens. These tokens can also be obtained by completing the daily quest Notice: Recruiting Monster Hunters. With the Bounty Honor Tokens in hand, visit one of the Bounty Exchange Merchants to trade the tokens for bountiful rewards. You can find the merchant stationed in Frostscale Basin, Moon Refuge, and the Commerce District.