What does the prizefund do?

prizefund (37)in #hbd • 2 years ago

The purpose of the @prizefund is to help the growth of all participants in the events. For this, the fund will need power, but where will it get this power from?

The idea is that based on the current conditions, the prizefund will go step by step and design events that are also exciting for people.

Note: This post is considered as the first participating event, so if you've got the participation conditions, With an upvote, you can join the list of contributors and participate to the future of the fund!

Perhaps people can be divided into three categories:

Large account holders who have grown and have significant power.
Micro account holders who are progressing step by step and growing slowly .
Newbies, some of whom are not seen at all.

The question is, how can the fund be exciting for all three groups? The answer is in events!

The prizefund is filled by the users' upvotes and then will be distributed to all participants, like a sponsor.This is unlike lotteries. As the fund grows, so does the contribution to participants.Since the fund aims to grow all three groups, the events act as a sponsor, just like the fund itself. Accordingly, the events are categorized into different groups. The contents of each event and its conditions will be mentioned in its text, and the participants can benefit from the benefits mentioned in it.

Types of events

Participation events

These events are to provide the power of the fund. Participants in these events boost the fund, depending on the weight of their votes. All the received power is stored in the fund as power and will be returned in the future as upvotes or HBDs depending on the participant's weight. In addition, depending on the participant's weight, a share of the HBD obtained by the prizefund will be paid to him/her in the future.

According to the nature of these events, they belong only to group 1 and group 2. Those who can have a share in the future of the fund while supplying the fund with their power. They only enter these events with an upvote and stir the power of the fund. The result of this stir is the growth of the fund and as a result the fund enters the next phase.

The total participation of people in these events will form their weight in the fund, so even if you move the fund by 0.1 hive, from participating in 10 of these events, you will gain a total weight of 1.

Winning events

These events are for participation in the prizefund. All the received HBD is distributed among the participants depending on the weight of each person. The received power is reserved in the fund, and depending on the weight of the vote and the number of your participation in these events, you will receive upvotes in the future. So it can be said that these events will also belong to group 1 and group 2.

Bonus events

These events are for participation in the prizefund. All the received HBD is distributed among the participants depending on the weight of each person. The received power is stored in the fund to help others, especially group 3.

Distribution events

These events are for the distribution of the prize among the participants in the fund. This is the final phase of the fund in the sense that the fund has become a sponsor.These events have different types and target all 3 groups. An example of that would be a max-upvote event.

Once the fund reaches its minimum target power, it will start monitoring and participating and will act like a sponsor to help promote groups faster. With the start of monitoring the participants, all accounts are reviewed and the process of assistance and promotion begins.

Participation in the fund

Follow the prizefund: This step is optional and you can skip it.
Upvote prizefund events and prizefund account comments: The funding of the fund is done through the voting power of the participants. Therefore, the HBD balance of the fund is usually distributed among the people participating in the events. The amount of HIVE received in the form of power remains in the fund as a reserve and will be used in the future in the form of various events to help contributors or newbies.

Note: This post is considered as the first participating event, so if you've got the participation conditions, With an upvote, you can join the list of contributors and participate to the future of the fund!

#hive #prize #bonus #fund #neoxian #upvote #ecency #peakd #leofinance