Brent, glad to have you on board. You can check out the current grow-out contest (ends June 11th) to get a better idea but yes, basically - we get a nice colony of palys (larger and easier to frag than zoas), each registered member gets 1 polyp, usually the grow out goes for 3 months, the member with the most heads at the end wins.
Its a nice little completion, as well as gets you a polyp of sometime usually a little more unique at less of a cost (but with the extra $ going to payouts) for example the last growout was everlasting gobstoppers which we got from a member at $4-5pp, when they normall go for $7-10pp through hobbyist and double or triple that through online vendors.
i hope to have the new grow out thread created tonight... But I'm on deployment Our K9 Academy for re-certifications in the middle of nowhere Indiana, so the Internet sucks.