I bet a few of you have been wondering... Just what are they doing over there at Prize Portal... What are these prize vote posts? When do we see an actual giveaway?
These are all good thoughts, and today you will get some answers.
Prize Selection
First a potential prize is selected by the Prize Portal team, and posted on steemit for voting. The community uses their social power (Steem Power) to vote if a prize will make it into the prize pool or not. All voting is stake weighted, not one man, one vote.
These types of posts will be made all the time to add new prizes to the Prize Portal as old prizes are removed. These posts earn digital currency, that gets moved to the Bitshares exchange and traded for bitcoin. Once enough bitcoin is earned a selection of prizes from the prize pool will enter in a Prize Battle.
Prize Battles
Two or more prizes fight via comment vote for the right to be the next prize given away. Prize battles give the community partial control over what the next prize will be. The Prize Portal team picks what prizes out of the prize pool enter the battle, but the community decides the winner! The worst prize by vote may or may not be knocked out of the prize pool. Prize Battles are also a sign that a prize draw is coming. Once a winner has been decided from a Prize Battle, it’s time to get ready for a prize draw.
Prize Draw Entry Post
This is where things get interesting. There are two ways to enter, and different rules for each method. There is a free method via steemit.com, this is the method most people will be interested in. The prize draw entry post will have details on the draw time and date, as well as the free entry comment. There is also a paid method via Bitshares, allowing a user to enter the draw more then once.
THE FREE METHOD
In the comments section of the prize draw post there will be a comment you can upvote to enter your steemit account into the draw. To qualify to win via this method the following must be met:
- You must up-vote both the Prize Draw Post and the Prize Entry comment 100%
- Each steemit account / shipping address / legal name can win only once every four weeks.
- You must have made a blog post, or 20 valid comments within the past five days.
- You must be following @prizeportal
(Please note, these conditions could change at any time, without warning or notice.)
THE PAID METHOD
There is a token available for sale on the Bitshares market called PPBITS, and can be bought and sold at any time. Each of these tokes are a valid entry into any Prize Portal draw. You can buy them in advance, and save them for a prize you really want a better chance at winning. Prices may fluctuate, and rise for really good prizes.
*You can enter into a draw as many times as you like, 1 PPBITS spent = 1 extra ticket into the draw.
*Can win draws as often as they happen.
*No need to blog or comment.
*When you see a prize draw you like, just go to SEND in your bitshares wallet, and send some PPBITS to pp-bits. This will enter you into the next draw 1 to 1.
The above example would give the account task-manager 10 tickets into the next draw.
The Draw
Once it is time for the draw to happen, @taskmanager or another @prizeportal member will head on over to http://andrew.hedges.name/experiments/random/pickone.html, and start streaming their desktop live (either twitch or youtube). Every one who voted on the comment from the prize draw entry post, as well as the bitshares accounts are entered. and a username will be drawn.
The first name will be checked for the following:
Is it a steemit free entry or a bitshares paid entry?
If its a bitshares account, we have a winner. If it is a steemit account, it will be checked for the conditions mentioned above, @prizeportal follower, 100% comment vote, post within last 5 days, ect…. If they pass we have a winner.
If they fail any of the qualifications another name is drawn until we have a winner…
All of this happens live.
Winners
Once a winner is announced, they have exactly seven days to fill out this prize claim form.
Repeating Cycle
The cycle then repeats, building up the prize pool more and more allowing better prizes to be given away, and with more frequency. Be sure to follow to keep up on what's happening with Steemit's Prize Portal
PPBITS Markets
PPBITS / STEEM
PPBITS / BTC
PPBITS / BTS
PPBITS /TASKMANAGER
