Fair Game Mechanism
An overview of how fair game is enforced on INK Protocol.
Each deposit is subject to a minimum deposit of 11 UST. This also applies to subsequent deposits.
This is to prevent micro-deposits that do not contribute much interest that make up the prizes. Subsequent deposits are also subject to minimum deposit requirements.
All deposits have a 7 days cooldown period with an early withdrawal fee of 3%.
This cool-down period is to prevent players looking to exploit a loophole by depositing right before a prize draw and withdrawing their deposits back and still being eligible to win a reward. This is unacceptable because their deposit(s) does not contribute any interest to make up the prizes. The lockup period is for the greater good of all players.
There is a 3% withdrawal fee if a withdrawal happens within 7 days of deposit.
This deposit timer resets and re-calculates every time you make any new deposits (calculation based on weighted-average basis).
It is the users' responsibility to claim the prize as soon as the prize draw ends. An unclaimed prize for more than one prize round (7 days) could potentially be unclaimable and the admin cannot assist in any way to reclaim the prize.
This occurence happens when the same user or party wins the prize in the consecutive round.
For individual deposits, unclaimed prizes have a 28-day window to claim. If you win and the prize is not claimed then it will be voided. The entire unclaimed prize balance will go into INK treasury and is retroactive.
INK have implemented the upgrade that one wallet can only win one prize.
In the case where multiple deposits are made at different instances, the locking period will be re-calculated based on the weighted average of your total deposit and locked period.
For example:
Scenario I:
Day 0 -- Deposited $100
Day 5 -- Deposited $1,000
Locking period = 7 days - (Existing deposit/ Total deposit) * (Already locked Period)
Locking period = 7 days - (100/1,100) * 5 days = 6.545 days
To illustrate the difference, let's have a glance at another scenario that finally has the same deposited value:
Scenario II:
Day 0 -- Deposited $1,000
Day 5 -- Deposited $100
Locking period = 7 days - (Existing deposit/ Total deposit) * (Already locked Period)
Locking period = 7 days - (1,000/1,100) * 5 days = 2.455 days
Last modified 1yr ago