Should this system for payouts to competition organizers become a standard for all Steemit competitions?
Competitions on Steemit are a really cool thing!
But what I've noticed in most competitions on Steemit is that the way that the competition organizer is paid out is a little bit unfair.
What most competitions do is they split the value of the post with the winner, so the person who organizes the competition ends up receiving a winning pot every single week.
Everyone who upvotes the competition knows that half of their vote value goes directly into the organizers pocket, and not towards helping promote the contest by increasing the size of the prize.
Of course I do think the organizer of the competition should be rewarded, it takes time and energy and effort to put these things together, but at 50% I think the reward is too high and the"imbalance" in the competition kind of kills some of the energy the contest would otherwise have.
I think I may have come up with a solution to the problem...
I decided not to take any of the money from the post rewards on my Social Media Promotion Competition - that I'm running, here:
https://steemit.com/steemit/@trevorlyman/social-media-bomb-mass-promotion-steem-giveaway Instead, I've left a comment that essentially says...You can reward me for running this competition by upvoting this comment!
Now, people can look at that comment and the amount of it and decide if they think it's enough. If they think it's enough, they can ignore the comment, but if they think the organizer deserves more, they can add their upvote to it and increase the organizer's reward.I suppose the organizer could also put a minimum amount they would appreciate in the comment, but that would be up to the individual.
In my opinion a 50% reward for running a competition is simply too high.
But I'd like to know what you think.
Is this new way that I'm running my current competition a good thing, and could serve as a new model for competitions held on steam it? Or is the 50-50 split a better way to go?
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this resonates a lot with me!
I am running a contest, too. An I also am rewarding "only" the liquid SBD (50% of rewards) to the prize pool.
I don't want to enrich myself at all, though... it's just that the SP reward is hard to pay out as it would require powering down... (unless you have other funds to replace that from your own pocket).
Now I have intentionally NOT made it a requirement to resteem or upvote anything in order to participate in an attempt to show that I am not running this out of my own monetary interests.
But, your approach seems to take this another step further... Maybe I'll consider adopting it, if I find a way to get liquid steem... we'll see.
I think you make some good points and maybe I spoke a bit too soon and with an imperfect solution.
Now I'm thinking more, what if the prize is to delegate the SP? And I keep delegating for as long as I keep running the competition?
It does still mean the money eventually comes back to the contest organizer this way, but it also makes the contest more worthwhile for everyone (as well as more work for the organizer).
If you keep rolling over the Steem Power and you might have a bunch of prizes to give away after a while.
What do you think?
delegating the SP sounds like a great idea too... I think I will take that into consideration...
with every round of the contest the delegation portion of the prize grows and is awarded to the winner until the next round ends... while it might be very little in the beginning... it will grow and eventually be the bigger part of the prize...
great idea! this might work!
hey man, I thought you'd like to know:
I've just referenced our discussion on this post in my latest update on organising the #GooglyPrize.
Cheers and thanks for your input again!