Athletes will be rewarded for the data which they enter into the system on a per-activity basis. For us to ensure the distribution is fair to all the participants, they will be rewarded based on their system reputation, which they build over time.
Diligence
Players, coaches, teams, clubs/schools and administrators who diligently and regularly enter their data will be incentivised. The SportsPodium algorithms will execute multipliers to incentivise the more diligent participants in order to encourage continued usage of the platform.
Accuracy
Accurate information in the system is critical to ensure reliable data services. Consensus algorithms and verification mechanisms are used to measure the accuracy of the data in the system. Reputation increase is influenced heavily by the degree of accuracy of data captured into the system. Reputation is a key part of the algorithm incentivising participants.
Performance
One of the aims of SportsPodium is to ultimately identify upcoming talent in the early stages of their sporting careers. Consistent good performance will ensure greater incentives for the participant.
The distribution is automated by smart contracts based on a rule set which is maintained within the ecosystem.
Funds are distributed on a per activity basis in the following manner:
Community Pool
Just like in Steemit, we will reward our community on a per activity basis. The current percentage to be distributed to the community is set at 80% of the coins issued. By submitting your sport and fitness related data you will receive your share of the rewards based on your reputation as explained above. In steemit you are rewarded based on the amount of Steem Power you hold, and in SportsPodium you can earn your percentage by building a good reputation. The percentage might move up or down slightly depending on various deals which SportsPodium negotiates with partners and promoters.
Promoters and partners
We have written a detailed post on how promoters and partners can assist growing our user base in return in our value for value economy.
We have two immediate incentives for our partners and promoters:
- We generate a new revenue stream for our partners by allocating a set percentage of tokens which is currently set at 10% of tokens allocated to the partners user base, but this can change on a deal per deal basis.
- We offer our partners the ability to incentivize their own user base with our tokens through an open-api and therefor the ability to expand their user base.
You can read more about partnering with SportsPodium by selecting the following link:
Partnering with SportsPodium
Platform maintenance
The SportsPodium platform needs to be maintained and expanded. The 5% allocated to platform maintenance will allow the team to focus on building out the user base, the platform and encourage partners to join the ecosystem.
vPOD holders
vPODs is very similar to SteemPower and has the following characteritics:
- You will earn a network fee after being vested for 7 days
- You will earn the right to participate in the governance of the platform within 30 days.
- vPODs can instantly be divested for tradable PODs and there is no waiting period.
Please feel free to ask question in the comments section and we will try our best to answer as soon as possible.
Happy Steeming !
Our Social Media Links:
Facebook: https://www.facebook.com/SportsPodiumApp
Telegram: https://t.me/SportsPodiumPublic
Twitter: https://twitter.com/@mysportspodium
Instagram: https://www.instagram.com/mysportspodium/
LinkedIn: https://www.linkedin.com/company/sportspodium/
Website: https://sportspodium.net
Bitcointalk Bounty Link: https://bitcointalk.org/index.php?topic=5076524.0
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