Stakepool — A price prediction experiment without losers💸
Do you think you are very lucky? Do you want to earn more baking rewards? Stakepool is here for you. Earn some tasty tez by predicting the price of XTZ/USD at the end of a particular cycle. The party starts in cycle 357!
What is Stakepool?
With Stakepool you can earn bonus staking rewards by predicting the future tez price range in US dollar. You win if you correctly predict the tez price range at the completion of the 2 cycles that come after the cycle in which you placed your bet. All baking rewards accrued in the smart contract are distributed among the winners as weighted averages of the total staked amount. If your prediction is wrong, your staked tez is returned but you miss out on your staking rewards for the respective cycles. A fee of 2% for use of the platform is charged on the prize pool and therefore only paid by the winners.
Example: We are currently in cycle 1. Alice and Bob think that they know what the price of 1 tez will be after the coming staking period (2 cycles) US dollar. They both place a bet on Stakepool. Bob is bullish and Alice is bearish.
Alice and Bob wait for 2 cycles; plenty of time to attract more friends to Stakepool and increase potential juicy rewards by increasing the amount of tez locked in future staking periods.
Cycle 4 starts and the price is up, Bob has won! He can withdraw his staked tez and of course his juicy Stakepool bonus. Alice is wrong this time, she can withdraw her staked tez to give it another try. Unfortunately no staking rewards for Alice this time.
How do I get started?
Visit stakepool.live with any browser that is compatible with Temple wallet, such as Chrome or Firefox. Make sure Temple is installed.
Every cycle you get a chance to show your prediction skills. First you decide the amount to stake (currently capped at ꜩ10), then you predict the price range of the XTZ/USD pair at the end of the 2 upcoming cycles. Thus, your tez will be locked for 2 cycles.
Currently we support six price ranges:
down 8% or more
down 4% - 8%
down to 4%
up to 4%
up 4% - 8%
up 8% or more
How do I get my tez back after the staking period?
On the Staking Orders page you can claim your stake or stake + rewards depending on whether your prediction is right or wrong. You can withdraw your stake as soon as the staking period is over.
Any future plans?
We have defined functionalities for our next version, but we are open for suggestions! Let’s start the discussion and join us on Discord. Functionalities currently under development:
- Betting on the price of multiple token pairs
- Adding additional incentives for placing bets
- Reduce the staking period for shorter waiting times
We will be rewarding early supporters of Stakepool in the future. A nice surprise is waiting for all predictors, so stay tuned!
