USE CASE: Will Mary Jane Watson finish the thesis in one year or not?

Mary Jane Watson announces in her social media that she now has a new superpower to create science works. In a week she’s starting to write a thesis about magnetic waves, and she’s going to finish it less than in one year. Not only her haters, but even fans doubted that this is possible, but Mary Jane felt confident. She created a wager on the PROOF OF TOSS platform and invited everybody to bet. However in a week, all bets were placed on the negative outcome, so according to the platform rules the wager was canceled.

But Mary Jane did not give up. She created a new wager, then, since the system allows people to have more that one profile, she logged in another wallet and placed tokens on a positive event outcome. Her followers in social media were laughing again, but this time they entered the game more enthusiastically. Haters placed bets on the negative outcome, they still were sure that Mary Jane would not finish her thesis in a year. But her fans believed in her this time. They followed Mary Jane’s example and placed bets on the positive event outcome.

In a week bets were placed, and the countdown started.

Here’s how the wager created by Mary Jane on the PROOF OF TOSS platform would look like!

Event: Mary Jane is creating the thesis about magnetic waves.

Date and time the event starts: 2008, May, 15th, 9:00 UTC

Wager: Will Mary Jane Watson finish the thesis in one year or not.

Possible outcomes: Yes/No

Mary Jane creates the wager on 15th of May and places a deposit of 4000 TOSS tokens. All comers make their bets.

35 000 participants bet on the negative outcome.

They together placed 95 000 000 TOSS

12 000 participants bet on the positive outcome.

They together placed 17 000 000 TOSS.

Originator’s deposit = 4 000 TOSS

Total bet sum = 112 000 000 TOSS

In 10,5 months the thesis was finished.

The DCJ selects judges to confirm the correct outcome of the wager. According to the internal system rule the deposit of the judge for an event with the total pot of 112 000 000 TOSS should be more or equal to 1%/50*112 000 000 = 22 400 TOSS.

Judges confirmed that Mary Jane Watson has finished the thesis for less than a year.

Originator

– Receives the deposit of 4 000 TOSS

– Receives the reward of 4 000 TOSS (the reward for originator is calculated by the formula BetSum * 0.5% and mustn’t be more than originator’s deposit).

Players

– Those who placed bets on the negative outcome lose their bets.

– Those who placed bets on the positive outcome receive rewards based on their bets.

For example, Mary Jane from her second wallet put 10 000 TOSS on the winning outcome. Hence, her reward will be equal to 65 340 TOSS.

95 000 000 / 17 000 000 = ~5,6 (rate, rounding of 5.58823529412)

10 000–1% = 9 900 (1% is taken from all bets in order to reward the creator of an event and the judges of the DCJ)

9 900 * 5.58823529412 = 55323.5294 TOSS (net winning)

9 900 returned (The tokens that Mary Jane placed the bet with are returned to her, minus the 1%)

55 323.5294 + 9 900 = 65 223.5294 TOSS

Judges

– Those who voted for the losing outcome lose their deposits.

– Those who voted for the winning outcome receive their deposits and gain rewards based on the total bet sum and their deposits.

Judge reward = (Sum of all bets * 0.5% + Judge deposits for the incorrect outcomes + Surplus of the originators reward (if it is less than sum of all bets*0.5%)) * Judge deposit/Sum of all Judges deposits for the correct outcome

DISCLAIMER:

All cases are taken as examples and have no connection to real people or events

Artwork credit: MARCO CHECCHETTO for the Marvel Comic book INVINCIBLE IRON MAN #8 variant

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