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The first payout is a big pool that gets diluted over time as other things are upvoted. The pool pays out on July 4th and from then on, upvote rewards will get paid 24 hours after.

Cool, That makes sense, I knew about the payout on July 4th but didn't know about the first payout getting diluted over time.

Noobie here. How does/will "payout" work? WIll each poster have a running total?

Two things will happen at payout:

  1. Your account steam power will increase according to your earned rewards
  2. Your account steem dollar balance will increase according to your earned rewards