Dear POP Town,
We are thrilled to announce that today we will be hosting our first MLP Community Voting Competition!
In this article we will break down the structure of the competition, to ensure that each participant is as ready as possible!
Structure of the Competition
The competition will consist of 8 pre-selected projects that will face each other in elimination-based voting rounds, until a final winner has been chosen by the people. The pre-selected projects will be announced on our Social Media profiles once the competition starts. Each voting round will run for a period of 24 hours. At the end of each round, half of the candidates with the highest votes will move to the next round, while the other half will be eliminated. This process will reiterate until a single candidate remains.
The competition will be hosted on our official Twitter page, which you can find here. We will announce the starting line-up of 8 candidates, at which point over a period of 4 days the elimination rounds will transpire. Unfortunately, Twitter’s poll/voting feature is limited to 4 options. Given this, the “1st round” (which in theory consists of the 8 candidates), will have to be split into 2 separate rounds (4 candidates per round).
Therefore, the structure of the voting days will look as follows:
Day 1 / Round 1 — Community can vote on the first four Teams. After 24h, the two highest voted teams will move to Round 3
Day 2 / Round 2 — Community can vote on the remaining four Teams. After 24h, the two highest voted teams will move to Round 3
Day 3 / Round 3 — Community can vote on the four winning Teams from Round 1 & 2. After 24h, the two highest voted teams will move to Round 4
Day 4 / Round 4 — Community can vote on the winning two Teams from Round 3. After 24h, the highest voted team will win the competition.
Day 5 — The winner of the competition will be announced.
To better understand this, here is an example of what a standard MLP voting competition might look like.
As can be seen for Day 1 / Round 1, Team 2 and 3 have the highest votes, and since they make up half the round, they move onto the next round. This repeats until a final winner is determined — which in this particular case is Team 3.
Once the competition has come to an end, the winning team will be contacted in order to negotiate a potential MLP listing on POP! To reward the community for participating in this competition, the winning team will be awarded with an extra 25 Allocation Points to their MLP. In essence this means that all those participating in that particular MLP will be able to farm POP! Tokens at a higher rate. For more details on how that works, check our Gitbook here.
As always — stay Poppin’
About POP!
POP! is a platform that allows 2 projects to objectively display mutual trust and commitment to each other, by locking their respective tokens together and creating a trustless Mutual Liquidity Pool (MLP). In addition, it grants POP! users the opportunity to provide single-sided liquidity, in the form of their favourite token, by matching them with another POP! user and adding their joint liquidity into the MLP.
Powered by Faculty Group, POP! aims to set a new golden standard with regards to partnerships, and how they are perceived within the digital asset ecosystem.
