"Competition with $500K prize pool" gets announced.
But how much of it is real money that is being disbursed to real people and how much do you get if you win?
Some things worth checking before you put your money on the line:
1. Is the prize paid to your wallet, or credited as a "tradable bonus" you can't withdraw?
2. Is the prize paid in a random token or stables?
3. Does the prize have a cliff period?
4. Does the platform publish who won and what they received, is it trackable onchain or just a total pool number slapped on a leaderboard?
5. Are past winners' payouts verifiable anywhere?
6. Does the fine print say prizes "may be adjusted" with no defined process?
Check these before the competition starts, not after you've already lost to find out
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