⚙️General Mechanics
How BBB works?
OVERALL PRINCIPLE
TL,DR
PREDICTION GAMES
Prediction games are statements about any worldwide events that every user can participate in, debate, and predict its outcome with cryptocurrencies.
Follow Binary Prediction Markets, every prediction game starts with a definitive statement and is only divided into POSITIVE and NEGATIVE views.
UPDATING OUTCOME PROCESS
Upon the conclusion of the prediction game, the host must ensure that the results are updated before the results announcement time in a timely manner. If the host neglects to do so, a Penalty Charge 🧨 will be applied, worth a 100% placed amount.
Once the mentioned deadline has passed, the host loses the authority to input the results, and Administrators will intervene to determine the results within 36 hours.
If the game is unable to determine its result due to a lack of information, it will be canceled, and all participants will receive a refund of their placed amount.
WINNINGS DISTRIBUTION
PROFIT WINNING FORMULA
Once the final outcome is determined, participants can claim their winnings.
All participants placed on incorrect outcomes will lose all their staked amounts of cryptocurrencies. On the other hand, players who bet on the correct outcome will get their winnings that follow the formula below:
FEE STRUCTURE
PENALTY CHARGE 🧨
If the host of the prediction game abandons their own prediction game and does not update the needed outcome before the deadline, a penalty charge worth 🧨 100% 🧨 of the staked amount will be applied.
HOST COMMISSION FEE 💎
The host commission fee is an incentive cost for game hosts that is typically charged 5% of the staked amount of the losing pool per each prediction game.
PLATFORM TAX ⚜️
Before awarding the reward to the winner, winners from the winning pool only must pay the 4% platform tax, and this charge will be contributed to DAO for future VIP membership, betting tournaments, and ranking awards, ...
VALIDATION FEE ✅
If there is an involvement of the validator team, we will charge the Validation fee in step A* and transmit it to the validator team.
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