FAQ - All you need to know
Streams and Projects
What is Lykke Streams?
Lykke Streams is a crowdsourcing initiative that reimagines how projects of all kinds can be staffed and completed. The goal is to connect people who want something done with those who want to do it. It is for the early, creative, explorative phases of a new project.
Users can browse Lykke Streams without registering for an account. To post a Project or a response, you will need to register and log in.
What is Project here?
Each Project is a contract between creators and responders. We choose 4 winners: one first place and three second places. Please read the specific rules for each Project before submitting.
Who can post Projects?
Only Lykke team members post projects now, you can see their profiles. But you can initiate a project that you want to start on Streams platform. How to Initiative >
How to participate?
Developers, designers, and other professionals can work alone or in collaboration to try to earn awards. You must be at least 18 years old to participate.
Can I participate with my team?
Yes, the original work must be your own or that of your group and may not include parts owned by others unless you have the rights to include them.
Can I post two or more works?
Entering twice will disqualify you! Review your entry package thoroughly before submitting.
You will not have a chance to re-submit, so please check your work carefully. The same work may not be re-submitted by someone else.
Winners and awards
How to choose the winner?
After the deadline, the creator can choose winners and award prize money. Awards are always for work already completed and submitted, not for any further work promised.
First, the project originator screens applications to remove any double entries or entries of obviously poor quality. The originator or sponsor may select candidates for first and second place awards. Then, the community reviews the candidate projects and votes.
Project winners are decided by a score given by the community, as follows:
· Selected experts: 30%
· Project originator: 10%
· Sponsor providing cash incentives: 40%
· Lykke community votes: 20%
This score determines the outcome of the process. It is possible that two or more projects will tie for first place, or that no first-place award will be given.
Are the awards guaranteed?
Awards are decided by the Project originator at their sole discretion. Project originators do not have to give any awards, but they are encouraged to reward effort. If your response is not chosen, there is no appeals process. A new project will be started if none of the results qualify.
Prizes that remain unclaimed for a period of six months will be forfeited.
How will the winners get prizes?
Award are given in Lykke coins (which may then be turned into cash) via the Lykke wallet free app. We encourage multiple awards. The earlier the stage, the more small awards there should be.
There can be several stages, so award winners can progress to the next stage and flesh out their submission. After that, it may go to a direct contract.
Is it necessary to have Lykke wallet?
If you win and have no Lykke wallet or will not provide your personal details, cannot or will not accept the prize, it will be forfeited. Prizes will be paid to the winners in Lykke coins in no more than 30 days following the invoice submission.
Taxes and right
Who will pay taxes?
Taxes, if any, are the sole responsibility of the winner(s).
Rights for work
When you submit your response, you retain all copyrights and similar rights to your material. However:
· Lykke reserves the right to display any responses on its website or elsewhere, and
· If your response is given an award, you trade your rights to your work for the award, so the rights go to the person or company who originated the Project.
How to create an Initiative?
An initiative is a Project you would like to see but can’t afford the award money. You may submit it to the community for voting. Initiatives with the most votes will be considered by Lykke for funding.
Since this is your initiative, please describe how many and what kinds of awards you think are appropriate and what a sponsor would get from sponsoring this Project. What kind of sponsors are you looking for? How involved would you like the sponsor to be? What is the minimum commitment you think is required?