The proceeds earned by the hero during the majority of tennis tournaments participated (licensed by WTA, ITF, UTR, national tennis federations, as well as exhibition matches, private tournaments, etc.) are the subject of distribution among the players (OLI Token holders) after rules of distribution applied. Please also read the “Out-of-Game Activities” post to know what tournaments are excluded from the prize money distribution procedure.
This article is a detailed description of how the prize money is distributed.
1. First, the main character gets prize money after completing the corresponding event (finishing her last match or, in some cases, when the tournament office processes the payment).
2. Then the Prize Money Distribution (PMD) structure applied. The PMD structure defines the proportions of prize money:
– directed for covering the travel costs through fixed (“franchise”) payback to the “OLI Reserve”;
– then directed to the “OLI Reserve” for future training & preparation expenses;
– then prepared to be distributed among the token holders.
The current PMD structure is published on the project website and can be updated periodically, but only for future tournaments.
3. Then the total amount of payout to holders (PMD payout), as well as the rest of the numbers regarding the current distribution, in fiat currency USD are published and locked.
4. Then the game Financial Administrator is obliged to exchange the corresponding fiat amounts to Bitcoin Cash by the best rates realistically available at the moment in their location, and fulfill all the distributions (to players & “Oli Reserve”) within 3 working days after the PMD report from the given event is published.
The current PMD structure is the following:
Franchise: 500 USD
If the prize money amount is less than the franchise (500 USD) then the PMD payout is 10% of the tournament proceeds, and the rest fully goes to the “OLI Reserve”.
Example 1: Received 450 USD. To be distributed among players: 450*0.1 = 45 USD in BCH. To be directed to the “Oli Reserve”: 450 – 45 = 405 USD in BCH.
501 – 1000 USD: PMD Payout = Prize Money Received – Franchise 500 USD – 30% OLI Reserve
Example 2: Received 900 USD. To be distributed among players: 900 – 500 – 270 = 130 USD in BCH. To be directed to the “Oli Reserve”: 500 + 270 = 770 USD in BCH.
1001 – 5000 USD: PMD Payout = Prize Money Received – Franchise 500 USD – 20% OLI Reserve
Example 3: Received 4000 USD. To be distributed among players: 4000 – 500 – 800 = 2700 USD in BCH. To be directed to the “Oli Reserve”: 500 + 800 = 1300 USD in BCH.
5001+ USD: PMD Payout = Prize Money Received – Franchise 500 USD – 10% OLI Reserve
Example 4: Received 10000 USD. To be distributed among players: 10000 – 500 – 1000 = 8500 USD in BCH. To be directed to the “Oli Reserve”: 500 + 1000 = 1500 USD in BCH.
Hospitality Franchise Discount: if there was hospitality offered on the tournament, then franchise halved (250 USD instead of 500).