2019 Race Series - March Equinox 5k
Presented by @Exhaust
Hello to all, and welcome to 2019! I think we're all going to have a great year together. I'd like to officially announce the first race being hosted on EXHAUST, powered by the Steem blockchain! This is going to be a bit of a build it / fix it as you go" sorta deal, but we'll probably have some fun and get strong along the way!
What you need to do to participate:
Come hit this fancy little "join event" button off to the side, and start training. That's it! @Exhaust will automagically take a portion of the benefactor rewards it is already accumulating, and start funding the prize pool for this event!
Initially, all EXHAUST users contribute to the system via a 20% benefactor reward shared with @exhaust. This event has been set to a 5% "fee" to participate. Users will fund the prize pool up until the race date. The way this event is set up is such that:
Each user will still only contribute a total of 20% benefactor 'fee', but of that, 25% (25% x 20% = 5%) will go towards the prize pool;
The remaining 75% of benefactor rewards will be distributed normally in the weekly payouts;
There will be a few more events announced moving forwards, and the plan is to make it so the minimum benefactor fee is 20% total, but depending on how many events you sign up for, this can potentially go higher.
Over the next 10 or so weeks, there will be a few "update" posts coming out to talk about some interim 'training leaders', discussing who has raised the most towards the prize pool, giving shoutouts to any generous souls that want to "sponsor" the event or contribute to the prize pool, and some discussion about how the prize pool should be divided. Funds from those posts will go towards the prize pool as well.