The contest pool is what contest participants are comepting for. Every person that enters the contest is charged a member dollar fee. That amount is determined by the organizer when the contest is created. The entire submission fee is placed into a contest pool.

So the prize is the complete "Prize Pool" which will be determined based on the number of entries and the entry fee. For example, let's say the entry fee is 10 member dollars. If 10 members enter the contest the prize pool will be 100 member dollars.

The voting begins the day after the contest deadline is reached. After a set period of time (specified by the contest organizer) the voting will end and the contest pool will be rewarded to the author with the most votes. In the event of a tie the contest pool will be split.