Hobo Contest Will Shut Down After 50th Contest
Contests Will Shut Down After 50th Contest
Today a previous delegator to the Hobo Contests pointed out that it has not been made completely clear what will be happening to the HoboDAO and its contests. So, now an official announcement is being made that after the 50th contest entry into the author contests won't be possible.
If you hold HBO tokens you are encouraged to use them by sending 500 HBO to @hobodao (a locked account so the tokens are effectively burned) and place the web address of your article or the article of an author you are sponsoring in the memo area.
You are able to enter your own content, however, the HoboDAO contest rewards "sponsors" that submit other authors as well. If you submit your own work and win you receive both the author reward and the sponsor reward, but if you submit someone else's work you are able to receive a sponsor reward if they win.
Changes to the Contests
Contests previously had 1st, 2nd and 3rd place winners, but for the remaining contests there will be only one winner each time. This way the contests can provide a better reward to both the author and the sponsors that win.
Contests are now announced on Mondays. The day has been rotated several times, but it is best when it is set on Mondays. This means that when you submit an article the last day to submit it is Sunday.
Reward Schedule:
Contests #30 to #32 Rewards:
Author Reward - 8000 LOTUS
Sponsor Reward - 2000 LOTUS
The reward schedule may be adjusted over time
Contests #33 to #43 Rewards:
Author Reward - 10 STEEMP
Sponsor Reward - 5 STEEMP
The reward schedule may be adjusted over time
Contests #44 to #50 Rewards:
Author Reward - 20 MINDS Tokens ($1 = 1 token according to minds.com)
Sponsor Reward - 10 MINDS Tokens ($1 = 1 token according to minds.com)
The reward schedule may be adjusted over time
Additional Use Case For HBO
If you would like to use up your HBO but don't wish to enter contests or hunt for content to sponsor, a second option is to buy a Resteem Package from @hobo.media. This means that the @hobo.media account will resteem (same as a retweet on Twitter) to its followers.
It is 5000 HBO for every resteem purchased directly in packages of 20 Resteems (100,000 HBO per package). This is not an automated process, resteems will be manually performed and are subject to assessment depending on content.
If the content violates the law or might be deemed harmful to a segment of the community @hobo.media can refuse to resteem a post. @hobo.media honors free speech and will not reject posts on the basis of political or religious preference.
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So what after 50 contest series is over?
How are we going to redeem the leftover HBO tokens?
HBO are consumption tokens for submitting content producer works into contests. The future closing of the contests has been repeated several times and at the bottom of each contest it will continue to be mentioned.
No business is obligated to run indefinitely, especially when it does so at a consistent loss. There are still many weeks of contests remaining. If you have HBO, you are encouraged to use them. There is ample enough time to do so. Please follow the instructions in the post.