Here’s what commissioners need to know about payout availability, sending payouts, and the Majority Approval process.
When are Contest Vault funds available for payout?
Contest Vault funds unlock according to a set schedule based on the number of days that have passed since your contest’s payment deadline.
Time after payment deadline | Available for payout |
Day 7 | Up to 15%, maximum $1,000 |
Day 14 | Up to 30%, maximum $2,000 |
Day 21 | Up to 45%, maximum $3,000 |
Day 28 | Up to 60%, maximum $4,000 |
Day 35 | Up to 75%, maximum $5,000 |
Day 42 | 100% of the available balance |
You can view how much is currently available directly from your Contest Vault. Select View rules next to the available payout amount to see the full payout allocation schedule.
When does the payout schedule begin?
The payout clock begins when your contest’s payment deadline passes.
If you extend your contest’s payment deadline, the payout schedule will shift and begin based on the new deadline.
For example, if your payment deadline is September 5, the first portion of your funds becomes eligible for payout 7 days after September 5.
How are the payout percentages calculated?
The percentages are based on the balance in your Contest Vault as of the original payment deadline.
Payments received after the payment deadline are considered late payments and are not included when calculating the staged payout percentages.
Late payments become available for payout once the Contest Vault reaches the final unlock stage.
How do I send payouts?
Once funds are available, commissioners can begin allocating payouts to their entrants.
Go to your Entrants Manager and select Send payouts. Enter the Payout Amount you would like to send to each recipient.
The total amount allocated will be displayed before you continue. Review all recipients and payout amounts carefully, then select Confirm.
You’ll receive one final confirmation showing the total amount being sent and each recipient.
What happens after I confirm the payouts?
Confirming your payout allocation does not immediately send the funds.
Select Start the vote to begin the Majority Approval process.
Entrants will then have the opportunity to approve or veto the proposed payout allocation. Payouts are sent once the vote receives the required majority approval.
Make sure all recipients and payout amounts are correct before starting the vote.
Why can't I send my entire Contest Vault balance?
Seeing money in your Contest Vault does not necessarily mean the entire balance is currently eligible for payout.
The amount available to send is determined by the payout allocation schedule above. Your Contest Vault will show the amount currently available to send, and additional funds will unlock as you reach each stage.
At Day 42, 100% of the eligible Contest Vault balance is unlocked for payout.