Poolz Launches Prediction Game IDeuro for UEFA Euro 2021 by Using Synthetic Tokens
Poolz is pushing the boundaries and bringing on new innovation, just like we did during the bull market. This is one of the most distinctive traits of Poolz that sets us a class apart from other similar projects.
Taking forward our innovation at Poolz, we are excited to announce the launch of yet another new product IDeuro. It is a prediction game based on Poolz’s in-house technology that is focused on the UEFA European Football Championship 2020 with DeFi ODDS. Apart from showcasing the use of Poolz’s technology across multiple verticals, it offers our community a one-time opportunity.
All our community members can participate and get a chance to win rewards. All they need to do is choose their favorite team playing in the UEFA EURO that they think will take the championship home.
We’ve explained the further details of IDeuro below.
Participating in IDeuro
IDeuro is a prediction game that will have four synthetic token pools, each assigned to one team playing in the UEFA EURO 2020. The tokens of each pool rate will be 1ETH= 2,250 team tokens and participants can buy the tokens of the team they think has the highest chance of winning the EURO. To buy the tokens, users will have to pay for it in ETH (ERC20). Final odds for the championship will be decided using DeFi and will be declared once the pools time ends at 15:00 UTC on 6 July.
At the end of the buying period on 7 July, the net worth of each pool will be equal to the number of tokens bought from the pool. So, if 20 participants buy $10k worth of tokens from the first pool, it will be valued at $10k. The same will follow for the other token pools and the total collected amount from all the pools will be proportionally distributed among the participants of the pool whose team will win the championship. The fact that pools are synthetic means that you will not need to claim your tokens. Upon completion of EURO Championship, the rewards will automatically be airdropped to the winners’ wallets on 12 July.
To further clarify the process, suppose that the total amount collected across the four pools is $400k — $100k in Pool 1, $65k in Pool 2, $85k in Pool 3, and $150k in Pool4. If you added $20k to Pool 1 and the Pool 1 team wins, you will be eligible for 20% of the total reward collected across all pools. This amount will be distributed after deducting a 10% transaction fee from the total pool amount, or $40k for this case, which will be used to buy back $POOLZ for burning.
So, after deducting $40k from the total $400k rewards, we’re left with $360k. Of this, you will get 20%, which equals $72k.
Note: This is just an example and the real values may differ.
Mark the Dates
Pools open: 12:00 UTC, 4 July.
Pools will remain open for a total of 52 hours.
Pools close: 20:00 UTC, 6 July
Rewards Distribution (without claiming): 15:00 UTC, 12 July.
1ETH= 2,250 team tokens
Use of Fee Collected
Poolz will charge 10% of the total amount collected across the four pool as a transaction and management fee for the pools. The collected fee will then be used to buy back $POOLZ tokens that will be burned. But that’s not it.
Alongside buying $POOLZ using the fee charged from the four pools, we will add an equal amount of $POOLZ tokens from our end and burn them together. We will also calculate the total gas fee our users paid while buying the pool tokens using ERC20 ETH and add additional $POOLZ tokens worth 2x of the total gas fee paid by all users and we will buy back & burn this amount as well.
So, going by the example we shared, if we collect $40k in fees, then we will buy $40k worth of $POOLZ and add another $40k worth of $POOLZ from our end. Furthermore, if suppose all users collectively paid $10k in fees, we will add another $10k worth of $POOLZ and burn a total of $90k worth of $POOLZ.
This, we believe, will add to the total base value of the existing $POOLZ tokens.
A One-Time Opportunity
If you’re a fan of football and UEFA EURO, IDEURO is totally your bet to take. You can not only show your support for your favorite team through IDEURO but also make sure you earn when they lift the trophy of the league. So, are you joining in?
Poolz is a decentralized cross-chain IDO platform built on top of Web 3.0 infrastructure to assist crypto industry projects in raising funds before listing. The Poolz platform has already integrated with many different blockchains and is in discussions with more than 10 of the biggest blockchain networks.
Telegram Announcements: https://t.me/Poolz_Announcements