What it means to be an event “Sponsor” or “First Challenger”
The entire concept of BETTA was always centred around the idea of community, social experience and organic growth. Accordingly, we have some pretty unique (and we think pretty cool!) features hardwired into BETTA, none more so than our generous incentive system for event creators.
Every event on the BETTA platform is created by the first wallet to stake ETH against an event outcome, prior to the event commencing. We refer to this wallet/user as the event “Sponsor”. Having become a Sponsor, a user is incentivised to promote the event that they have created as they will automatically receive 1% of the total ETH staked on said event, once the result is declared, regardless of the event’s outcome.
Similarly, the first wallet/user that, prior to an event commencing, backs an event outcome other than the one that the Sponsor has backed, is referred to as the “First Challenger” — and they will automatically receive 0.5% of the total ETH staked on said event, once the result is declared, regardless of the event’s outcome.
In this way, the BETTA model not only encourages the creation of properly formed events with contrary outcomes backed, but it also ensures that its users are sufficiently incentivised to share and promote BETTA events, completely separate from their own participation within the event itself.
That is pretty cool, right???
We would love for you to join the BETTA community, if you have not already — find us on Telegram, Twitter and Reddit.
