Onchain Prediction Market Features
To celebrate Base Onchain Summer, PokPok is bringing our minigame onchain with 2 new features — Staking and Wagering!
All Points won on the platform will be converted $POK token airdrops on TGE, estimated Q4 2024. Read on to find out more!
Staking
All points that are farmed in the PokPok minigame will be converted to the $POK token upon TGE. Users will be able to deposit varying amounts of ETH into the onchain minigame to obtain recurring points.
Staking was designed to provide early stakers with a higher point production per ETH (higher capital efficiency per ETH), while allowing latecomers to catch up by compensating with a higher quantum of ETH staking.
This is achieved through 2 main features, (1) Point production per ETH per hour, and (2) Maximum ETH staked per week.
(1) Point production per ETH per hour
The staking curve is structured in a step-down manner, where the points production per ETH staked is the highest in the first Epoch (week), and lowest in the twelfth Epoch (week). Early stakers will be able to enjoy the highest point accumulation per ETH staked, while latecomers will face a low capital efficiency of ETH.
(2) Maximum ETH staked per week
To prevent the staking feature from disproportionately disrupting the leaderboard, we introduced a Max ETH per week limit, which increases as the Epochs progress.
There is no lock-up or withdrawal fee for your deposited ETH.
Wagering
To introduce an added element of fun into the PokPok Onchain Minigame, a wagering element has been added to allow users to earn from correct price predictions.
Asset: Everyone who chooses to participate in the wagering round will have to wager on the selected asset for that particular round. Users will be able to wager on unlocked tokens if that token is selected for a particular round.
Wager Amount: The wager amount is standardized within each round and randomized between rounds. The amounts may vary from 0.001 ETH ($4), 0.005 ETH ($20), 0.01 ETH ($40), 0.025 ETH ($100).
Winnings: The winners of each round will split the funds that were wagered by the losers. However the amount taken out of the pot for each winner will be weighted based on the number of points won for that particular round. For example, in a particular round, if a player won 200 points out of a total of 1,000 points won by all winners, the player will get 20% of the loser’s pot.
Tax: There is 5% tax on each round that successfully plays (i.e. funds are transferred from loser to winner).
If you like what we do, support our project in the Base Onchain Summer Buildathon by giving us a like on https://devfolio.co/projects/pokpok-protocol-27b8
We hope everyone will enjoy this release of the PokPok Onchain Minigame. Happy Onchain Summer to everyone!
