The funds were reserved for 1200 USD at the time the event begun, which was June 17th. Thus the prize pools reflects the STEEM price at the time.
Since this project's IEO was delayed, we decided to use those reserve funds to pay out our users.
When the IEO is complete and the tokens are unlocked we will revisit this topic and take your comment into consideration.
For the time being, our goal was to just make sure that our users are treated fairly and receive their respective prizes.