Understanding the igaming approach behind Blockchain smart contracts
On the transparent example of a herosphere.gg contest
Data Analyst Michael explains how the general reward model and contest buy-in as well pay-outs for HERO can be tracked on the Blockchain.
After our ICO in Fall 2017 we have worked on the first use case, which is in closed beta on herosphere.gg now! Thanks to the first results of the beta testing, we can see what actually happens on the Blockchain when smart contracts are being implemented. The closed beta currently runs on the Ropsten testnet (Ropsten is basically a copy of the Ethereum core used for testing by developers).
The platform & game specifics
herosphere.gg is an esports prediction & fantasy platform, which means users buy into so called “contests” (eg. a specific DotA2 tournament) to bet on the outcome of matches and choose their own fantasy team. Based on this performance all participants of a contest are ranked and based on the specific modus (eg. 45% double their buy in).
All of this works through smart contracts.
When issuing HEROcoin we have also set a 1% general reward in the smart contract. This means that 1% of each and every pot ever played (not only on herosphere.gg but with any provider world wide) goes back to all token holders, even if they are no gamers. This 1% is spread among all token holders.
Additionally every user that makes the effort to create a contest is being rewarded with a rake from the buy in pool. This could be us as being the platform host, but also any user who wants to create a private contest for his/her friends or followers.
Now let us have a deep look at a sample contest on herosphere.gg and break down the essentials. The following activities reflect all substantial mechanics related to one contest on herosphere.gg and depict an important part of our smart contract ecosystem.
Transparency through the blockchain
You can have a live look at this specific sample contest on the Ropsten test-network under the following link:
https://ropsten.etherscan.io/tokentxns?a=0xebaaa9fe31d8c0e5a2d345fe49e2ccedf693d059
Contest Contract Address:
Here is a list of users who joined a test DotA 2 contest during our closed BETA phase:
In order to join a contest, each user had to create an on-platform wallet. They once transfer funds from their original wallet to the herosphere.gg wallet from and to where buy-ins and pay outs are being handled. Every contest has its own contract address.
Join a contest
Every green “in” (in this case with the value of 10 PLAY) states the buy-in of an user into a contest. We can see his/her public address and the contest contract address, as well as the amount of HEROcoin (PLAY) he or she used in order to join.
Performance ranking & winners
Based on the chosen modi (eg. a contest where 45% double their win or where the winner takes it all) and the final ranking of all user performances in this contest, the smart contract will handle the pay outs.
The orange “out” (20 PLAY)is the first outgoing payment, rewarding one of our contest winners with his/her win. The user doubled up his/her stake. Additionally 1% of his/her win is added to the general reward pool.
When a contest is finished also the revenue for the contest creator is being paid out
The general reward is gathered from the revenue of the contest creator and distributed to all HEROcoin token holders:
Details of Tx Hash of a buy in
If you click on one of the 10PLAY buy ins you get the following picture
Under “Token Transfered” we see how the user bought into a herosphere.gg contest for 10PLAY.
Details of Tx Hash of a 20PLAY pay out:
Here you can see four transactions which take place simultaneously, however the gas (transaction) costs are higher in relation to the costs of a single transaction:
The four token transfers (4 Transfers found) mean the following, starting from the bottom:
A user’s pay out, who was able to double his buy-in of 10 PLAY and now has 20 PLAY. The pay out is handled through the contest contract.
This amount is added to the pool of PLAY which are going to be paid out as general reward. The amount added is equal to 1% of the users win, however the 0.2 PLAY are taken from the contest rake (not from the users winnings).
Next is the amount of the general reward which is paid out to the user (in proportion to his HEROcoin holdings). The contest contract automatically pays out this amount to the user. Meaning that, after participating at a herosphere.gg contest, the user could double up his buy-in and additionally got rewarded with his stake of the general reward.
And last you see the amount of the General reward which is paid out to the contest contract, because he also is holding HEROcoin (PLAY). This amount is automatically transferred to a different wallet, in this case to one belonging to herosphere.gg
If you have questions or would like to discuss this, please get in touch.
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