Rules
Prophet operates under a set of predefined rules to ensure fairness and provide structure to the game. The rules are defined as follows:
Predefined Ranges: Users can only choose from a selection of predefined price ranges for the underlying asset. This promotes fairness and ensures that all participants have the same set of options to choose from.
Ticket Purchase: The ticket in this context represents a single entry within a selected price range. Users can opt to purchase one ticket or several tickets. You can also choose to buy multiple tickets from the predefined options depending on your risk appetite and budget.
Buying Period: Users can place their bets only during a specific period. The buying window opens 1, 3, and 7 days before the expiry date and closes 6, 12, and 24 hours (or 1 day) respectively before expiry. This period is carefully selected to ensure that participants have enough time to make their predictions while keeping the game exciting.
Calculation of Winning: The winning is calculated based on the total pool amount from all users. The platform takes a 5% fee from this total pool amount for its services. The remaining amount is then distributed to the winners. Each winner's prize is proportional to their bet size relative to the total pool amount placed on the winning range.
Claiming Winnings: On the expiry date, users who successfully predicted the price range within which the asset is trading are deemed winners. These winners will then be able to claim their winnings.
No Winner Case: In the case that no tickets are bought in the winning range when a market expires, the prize pool is carried to the next market of the same asset.
These rules provide structure to the lottery process and ensure that all participants have an equal opportunity to win, irrespective of their financial capacity or market knowledge. The platform is designed to make price betting more engaging and accessible, transforming it into a rewarding game of financial prediction.
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