➥ The pool fund consists of a sponsorship fee of
300 mBTC, (valued at over $7000 as of July 2022) and users entry fees.
➥ I act as Escrow on this address:
bc1q3rrxzuknzfvlclprprjshqruvjhp5tettcthea➥ There will be 10 main prize spots to play for.
The total pot [sponsorship + participation fees] will be distributed as follows:
🥇 1st place - 120 mBTC (30% of sponsorship) + 30% fees
🥈 2rd place - 80 mBTC (20% of sponsorship) +20% fees
🥉 3rd place - 60 mBTC (15% of sponsorship) + 15% fees
🏅 4th place - 40 mBTC (10% of sponsorship) + 10% fees
🏅 5th place - 30 mBTC (7.5% of sponsorship) + 7.5% fees
🏅 6th-10th place - 14 mBTC (3.5% of sponsorship) + 3.5% fees
I'm sorry, it seems I must be misunderstanding something? All those percentages and mBTC numbers do not add up to the right numbers? I am seeing 86% and 344 mBTC when added together? Or perhaps did you mean (20% of sponsorship +20% fees) not "(20% of sponsorship) +20% fees"? Because I do not see how 120mBTC is 30% of the 300 mBTC sponsorship fee? Also the math might add together if you considered 20 participants. But any more participants would increase the individual mBTC winnings, would they not?
If not, where does the rest go?