The Early Pool is a new feature that you can now find in our v2 platform on Polygon. This pool has been designed to reward participants who assume extra risk by betting at the beginning of a war 💰
With the previous model there was no difference between buying a ticket at the beginning of the war and buying a ticket near the end of the purchase period. We have therefore developed this mechanism to reward the purchasing of early tickets.
The main idea is to fill a pool with 10% of the tokens from the losing house (losing project) at the end of each war. The pool will fill up with tokens for 25 days. These 25 days are called the “Long Night” 🌃
In the first quarter of a war, any player who bets more than 100 DoTx on one (or more) war(s) is eligible to enter this pool. Over the course of the Long Night, the share (the early bag) for each early bettor is calculated based on the ratio of their early DoTx bet in the war(s) vs the early DoTx of all other players. Here is a simple example:
“Bob the Brave” bets 5,000 DoTx in the first quarters of two wars during the Long Night. The total amount of bets place eventually amounts to 50,000 DoTx. Bob the Brave, having bet 10% of the total in this case, will take home 10% of the pool.
The share of each pool is only determined on the 25th day. Therefore, it is important to stay vigilant throughout the Long Night. If you find that your share falls too low, it will be beneficial to be early in an extra war to raise it back up. The Long Night thus becomes a competition in its own right between early bettors.
As mentioned above, your share is calculated on the 25th day and a part of the pool becomes yours. To claim this share it will be necessary to lock up some amount of DoTx for a certain period of time (staking) 🔒
The staking solution we’ve created, however, is not your usual staking solution. Traditionally, when you stake your tokens you aren’t immediately made aware of your final reward. With our solution you are instead required to stake an amount of DoTx that correlates to a pre-determined reward pool (similar to what Ferrum Network offers with most of its staking pools). This therefore allows you to calculate your final reward.
With our method you can choose to stake your DoTx for different time periods. The shorter the period, the more DoTx you will need to provide, the longer the period, the less DoTx required. At the end of the locking period you will receive your initial staked DoTx as well as your reward (your early bag) 💸
Let’s clarify how this works in an example with our friend Bob the Brave. Bob maintains his early bag of 10,000 DoTx throughout the duration of the Long Night. If he chooses the 3 months staking period, he will have to provide:
10,000 DoTx (early bag) / 254.79% (staking period %)= 3924 DoTx (to stake)
After 3 months of staking, Bob will get back : 13,924 DoTx (+254.86%)
It is also possible to have several stakes running in parallel (by participating in different Long Nights).
You will find a new button at the top right of the card marked “Your Tickets”.
Click on it and a popup will appear to show you:
- How much time you have left to be early in this war
- Your early DoTx investment in this war
As soon as you purchase early tickets, your share of the pool will be automatically updated.
Thank you for reading through this article. Stay tuned in for the next article where we will focus on the Mana Pool 💙
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