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Price Prediction Game FAQ

General Questions:

Q) What’s the WeFi's Price Prediction Game contract address?
Q) Is there a time limit before I can collect my winnings?
No, you’ll be able to collect your winnings at any time in the future.
Q) How is the payout calculated?
  • Payout Ratio for UP Pool = Total Value of Both Pools ÷ Value of UP Pool
  • Payout Ratio for DOWN Pool = Total Value of Both Pools ÷ Value of DOWN Pool
For example, if there’s 15 WBTC in the DOWN side of a round, and the overall prize pool is 150WBTC, the DOWN payout ratio will be (150/15)=10x.
  • Payout Amount = Payout Ratio × Position × (1 - Treasury Fee)
In the above case, if the round ends on a DOWN result, if you committed 2 WBTC to a DOWN position, you’d get a payout of (2*10) × (1-0.03) = 19.4 WBTC. Your profit would be 17.4 WBTC (19.4 - 2).
The treasury fee is currently set at 3%: this may be subject to changes, which will be announced on WeFi’s official communication channels.
Q) What are the fees?
3% of each round's total pot will go to the treasury.
Q) What are you using for your price feed?
WEFI uses Chainlink for our price feeds due to its high-quality data, secure node operators, decentralized network, and economy of scale.
Q) The round's result changed after the round ended! Why?
Sometimes, after a round closes, the final result may be different from the last result shown while the round is live. If you watch a round end on "DOWN", it may appear to flip to "UP" a few seconds later.
This is because we use the Chainlink price feed to determine the final outcome of a round. The period between the end of one round and the start of the next is 30 seconds, but the Oracle refreshes every 20 seconds. It's possible that during this short period, Oracle might send an update while the transaction to trigger the next round is being minted. This can appear to "flip" the outcome of the previous round.

About Positions:

Q) What happens if no one enters an opposing position?
If only one side of a round has positions entered into it, then that side loses, and the losing funds will be sent to the treasury.
For example: if User A enters an UP position, no one else enters a DOWN position. User A loses, and there are no opposing positions for the winnings to be paid out to. Funds are sent to the treasury.
Q) What happens if the Locked Price and Closed Price are the exact same?
In the very rare occurrence that the Locked Price is exactly the same as the Closed Price, no one wins, and all funds entered into positions will be sent to the treasury to be used for WEFI buybacks to burn.
Q) Can I change or remove my position?
No. Once you enter a position, you can NOT change the direction, add to, or remove your position. It's locked in, so make sure you're 100% happy with your position direction before confirming.

Market Pauses:

Q) What does it mean when markets are paused?
Markets are paused when there are conditions that affect the reliability of the contract. Markets being paused means that no bets will be taking place for any rounds.
Q) What causes the WeFi Prediction market to pause?
The prediction market will pause under the following conditions:
The prediction contract has been unable to obtain the price from the Chainlink oracle due to the oracle not having posted the price at the time the round ended.
The prediction contract has been unable to execute an action (ending a round or getting a price from the oracle) due to the TX being stuck in the pool for longer than 15 blocks.
Q) When will the markets resume after being paused?
The markets will resume when an admin (one of the Devs) manually resumes the market
Q) What happens to my position if the market pauses?
If the markets pause while you have a live position, your funds will be available to reclaim, the same way as you would normally claim your winnings.
To reclaim funds, you’ll need to pay some gas fees. We can’t compensate you for the gas fees, so please bear this small risk in mind before participating.