ETHERSPHERE 2.0 MECHANICS
1. Original EtherSphere
The original game is based on a concept of having a participant bid against other players to win rewards from a daily reward pool. A participant's main aim is to ensure that the reward he gets is greater than the amount of bids put in.
As we run the game, we confirmed our beliefs that EtherSphere 1.0 is a sustainable game that can generate promising returns for the house, but we realized it can grow much faster by tweaking mechanics to reduce risks for players.
2. EtherSphere 2.0
A new set of mechanics is developed after multiple iterations:
1. Similar to EtherSphere 1.0, participants will place bids in a bid pool to win a portion of the reward pool. The reward they get is proportionate to the amount of bids they place.
Reward :Total Bids
- 2. Daily reset is changed to a 12-hour reset in order to benefit all players across timezones. Rewards will hence be distributed 2 times a day.
- 3. There will be a seperate jackpot pool, which will be released to a jackpot winner when conditions are fulfilled.
- 4. Jackpot is triggered when total bid pool size reaches 1.035x of reward pool.
- 5. During every reset, 5% of bid pool will be added to jackpot pool. The rest will be transferred back into the reward pool to be distributed.
- 6. If no one manages to claim jackpot, funds in the jackpot pool will roll-over to the next reset until someone finally claims it.
- 7. There will be a bid limit that is set to 2x of jackpot pool size or 60% of reward pool size, rounded up by 0.01 eth and whichever is lower during the round will be applied.
- 8. All bids are seperated and will not be aggregated like EtherSphere 1.0 when computing jackpot. Multiple bids can be made but bid limit is only imposed on individual bids.
- 9. Unlike the first game, a jackpot winner is the last highest bidder of the round (vs first highest bidder in EtherSphere 1.0). Highest bid refers to the highest single bid made by a player. Losing the competion for jackpot will cost a far lower amount compared to the old game. The reasons why this is so:
- the reward pool will not be split for jackpot, hence non jackpot winners of a large bidding round will only lose from dilution.
- max bid is capped to ensure the average player can bid for jackpot
- bid limit prevents bid pool size from increasing quickly
- 10. Maximum dilution occurs at 115% of reward pool. Any further bids will not affect existing participants' payouts.
- 11. Early bidders are also rewarded Sphere Fragments. The payout is determined in next section.
3. Sphere Fragments
- Bids added in first hour after reset0.125%
- Bids added in before last hour of round0.125%
- Bids added before jackpot trigger in a jackpot round0.25%
- Total possible fragments for early participants0.5%
A sphere fragment is another type of ERC20 token that is awarded to players as reward for early bidding. This encourages players to place bids early and not wait till the end of a round before bidding.
At the end of every round, sphere fragments equivalent in value to a specified percentage of the ending bid pool will be awarded to each group of players that fulfill the specified condition. Sphere fragments will be split proportionately based on participants' bid sizes within the group. The ratio of sphere fragments to claimable ether value is 1000 frags : 1 eth.
Sphere fragments can be burned to claim ethers from the next day's reward pool directly. Burning occurs at least 1 hour prior to a reset, and total burn value of all sphere fragments cannot exceed 5% of next day's reward pool. Alternatively, it can be exchanged for Sphere tokens in the DAO at a rate of 1:500 (1 token equivalent to 0.5 claimable ether).
4. Reduced fees
Fees are reduced to support the sphere fragment system. Instead of taking 2.5% per round (equivalent to 5% in a 24-hour round), we choose to distribute up to 0.5% of that in a jackpot round to players to encourage bidding. Sphere token holders will be entitled to the remaining 1.75% per round while our development team will take 0.25%.