Running your Pay-to-Enter Challenge on Hyype Space
Within the Hyype Host Portal, Hosts can create Pay-to-Enter Challenges which allow them to set an entry fee for Members and earnings are split between the creator and top entries at the end of the Challenge.
Step 1
Select to Create a Pay-to-Enter Prize Challenge
In the Hyype Host Portal, choose to create a Pay-to-Enter Challenge to begin the Challenge creation process. (Note: if you are an approved Charity you will see the Donate-to-Win Challenge type instead)
Step 2
Input your entry fee in tokens
During the Challenge creation process, you are prompted to input the token amount for your entry fee. This is the amount of tokens that each entrant will have to pay in order to enter your Challenge.
Step 3
Submit your Challenge for Approval
Once you complete the Challenge creation process and checkout, your Challenge is reviewed by the Hyype Space team before going live on the Hyype Space mobile app
Step 4
Run your Challenge
Members enter your Challenge and give claps or Thunderous applause to their favorite entries. With each entry in the Challenge, the prize pool and the amount the Host earns increases. As the Prize Pool increases, the Prize amount for the top 3 positions increases proportionally until their value is maxed out. Next, the prize value for positions 7-10 increase equally until they reach their maximum. Finally, if the top 10 prize values are maxed out, the remainder of the prize pool is allocated to the next position that is not maxed out until that position prize value is maxed out and the prize pool is fully allocated.
Step 5
Fulfill prizes and receive funds
At the end of the Challenge, after all the claps are tallied and prize pool is fully allocated, the prizes are sent by Hyype Space to each position with a prize pool allocation and the funds earned are sent to the Host.
