Yep, like @nickyhavey said, it's kind of like playing poker. You put your money in the pot then if you win you get a cut of the total prize pool! This way we are not reliant on one big whale or other benefactor to try to fund the contest, and it can grow bigger than what we the hosts would be able to support just on our own. :)
That's the entry fee for entering the contest. It contributes to the prize pool so the more people that enter, the bigger the prize pool 🙂
If you have post payouts set to 50/50 (Steem Power/SBD) then all you need to do is send over the SBD and you keep the steem power.
Looking forward to reading about your top 3 😉
Yep, like @nickyhavey said, it's kind of like playing poker. You put your money in the pot then if you win you get a cut of the total prize pool! This way we are not reliant on one big whale or other benefactor to try to fund the contest, and it can grow bigger than what we the hosts would be able to support just on our own. :)
oh yeah, got it now, thanks for explaining so well you both :):)