Introducing Prediction: A simple and decentralized game powered by Sei’s Native Oracle
Learn how this game-changer feature is going to bring some hype and fun to Coral Keepers and the Sei community.
GM Coral Keepers!
After a long period of development and setting up the base, we are now ready to publish more information about our latest feature: Prediction.
In short, this feature is quite simple and easy to understand: Speculate on whether digital assets will end up costing more or less than they did when the “Live” phase began. Guess correctly to win and claim your reward CRX.
📈 You win if at the end of the 5-minute Live phase, the Closed Price is higher than the Locked Price and you enter an Up position. You lose if it is lower.
📉 You lose if you enter a down position and, at the end of the 5-minute Live phase, the Closed Price is higher than the Locked Price. You win if it is less.
Feeling lucky today? Make your prediction now: https://app.coralx.finance/prediction/
How Price Prediction Works
CoralX Price Prediction offers various prediction market options for users to choose from and participate in. To clarify, all prediction markets can be bet on with CRX tokens. Each betting round will last for 5 minutes, and once a round starts, you can make a bet on the next round.
Each round will come with a prize pool for the winner side that consists of CRX tokens deposited by the participants. The prize multiplier will vary for each pool. Depending on the predictions made by participants, the multiplier will alter over time as the Prize Pool grows.
Therefore, if there were more CRX deposited on the Down side and the Closed Price was higher than the Locked Price, the prize multiplier would be higher for those who entered on the Up side, and vice versa. You can collect your rewards from previous rounds at any time.
How the payouts are determined
There are different formulas for Up Pool and Down Pool:
- 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
- Payout Amount = Payout Ratio × Position × (1 — Treasury Fee)
A modification to the existing treasury charge of 5%, which would be disclosed via CoralX’s official channels, is possible. The Treasury fees are used to buyback and burn CRX tokens.
Example:
If there are 1000 CRX on the Up side of a round and the overall prize pool is 2400 CRX, the Up payout ratio will be: 2400 ÷ 1000 = 2.4x
If that round ends up with an Up result and you entered an Up position with 200 CRX committed, you would receive a payout of: 2.4 * 200 * (1–0.05) = 456 CRX
Your profit after this round would be 456–200 = 256 CRX
Once you take a position, you cannot move in a different direction or increase or lose ground. Before confirming, make certain that you are completely satisfied with your position.
Frequently Asked Questions
What sources are used for the CoralX price feed?
To ensure the most accurate figures, CoralX uses Sei’s Native Oracle. When validating for the network, participation as a Sei Oracle is expected and required in order to ensure the most reliable and accurate pricing for assets.
What transpires if no one presents a counter position?
The losing funds will be transferred to the Treasury if only one side of a round has positions entered into it.
For instance, no one else enters a Down position when a user enters an Up position. Money is sent to the treasury if he loses, and there are no opposing positions to whom the winnings should be paid out.
However, if he wins and no one else enters the opposite position, he would be able to gain back the amount of deposited CRX without the Treasury fee being deducted, considering gas fees.
What transpires in the event that the Locked Price and Closed Price are the same?
Nobody wins if, in the extremely unlikely event that the Locked Price and the Closed Price are precisely the same, and all funds deposited into positions are sent to the Treasury to be used for CRX buyback and burn.
Can I adjust or remove my position?
No. You cannot add to, subtract from, or modify the direction of a location after you have entered it. Before confirming, make certain that you are completely satisfied with the orientation of your position.
Why are markets paused, and what does that mean?
When circumstances exist that jeopardize the contract’s trustworthiness, markets are paused. Because the markets are closed, no wagers will be accepted for any rounds.
Your funds will be available for reclaiming if the markets pause while you are holding a live position, just as you would normally do with winnings. You must pay some gas fees in order to get your funds back. Please consider this slight risk before joining.
