💰Example Winnings Distribution
This page will show an example which will give you an idea of winning amounts and any commissions paid.
Question:
Who Wins the World Cup 2022?
Team 1 or Team 2
PREDICTION ARRAY
5 players take part in each answer.
Players who chose Team 1:
Players who chose Team 2:
ANSWER DETERMINATION
When the timer ends, HT verifies the correct answer using the authorized source and marks Team 2 as the correct answer.
PRIZE POOL DETERMINATION
Total Pool Earnings: 1500 ( Team 1 ) + 2000 ( Team 2 ) = 3500 BUSD
HT platform fee: 25% of the losing pool (Team 1). So 25% of 1500 = 375 BUSD
The HT smart contract allows HT platform fee to be set up to only 30% max of the losing pool. Anything greater is disallowed by smart contract. The current fee is 25% of the losing pool, and any changes will be communicated to the community well in advance.
Therefore, the Total Prize Pool to be awarded to winners is 3125 BUSD.
When a winner is selected, the HT Smart Contract does the following:
375 BUSD is transferred to a secure company wallet.
Users A - E, lose their funds.
3325 BUSD is awarded to users F, G, H, I & J.
Users F - J can now claim their winnings (they pay the gas fee for claiming their winnings).
The formula for calculating winnings is:
S = Sum of winning pool P = prize pool after platform fee U = the amount a user staked
A user's individual prize is (U / S) * P
In our example:
S = 2000
P = 3125
U = (each staked amounts of users F - J)
Actual Winnings
Note that this example does not show the submitter commission. If this question was submitted by a community member, they would get a part of the total pool as a reward.
Let's assume that the submitter's reward at the time is 1% (the value can only be 0.01% to 2% max of the Total prize pool), their commission would be $35 (1% of $3500). The HT platform fee will be reduced to $371.25 and the total prize pool would then become $3093.75 and all winner's winning amounts would be reduced slightly.
Last updated