💲Betting Phase

Betting Phase

In the second phase, the betting process comes into play. Every 6 hours, a new set of 4 tokens, determined by the results of the previous voting phase, is activated for betting. During this phase, users have the opportunity to place bets on these selected tokens in 30-minute intervals, providing a dynamic and engaging experience.

Betting Mechanics

Each 30-minute betting period is divided into specific stages. The first 5 minutes are allocated for users to place their bets. Once this betting window closes, the remaining 25 minutes are dedicated to monitoring the performance of the selected tokens. At the end of the cycle, the winning token is determined based on its percentage profit and loss (PNL) performance during that interval.

After the betting rounds are completed, the winners will receive the remaining funds in a proportional distribution. The funds are allocated in the following manner:

• 90% of the remaining pool is distributed to the users who placed correct bets. This portion is divided among the winners based on the proportion of their bet relative to the total correct bets placed during the round. This ensures that the rewards are fairly distributed according to the level of participation and accuracy of the predictions.

• 5% of the remaining funds are allocated to the purchase and burning of the winning token. This process reduces the total supply of the winning token, helping to increase its scarcity and, potentially, its value over time. The token burn mechanism creates a deflationary effect, contributing to the long-term health and sustainability of the token ecosystem.

• 5% is used for the buyback and burn of $RACE tokens. A portion of the platform's revenue is used to purchase $RACE tokens from the open market, which are then burned to reduce the total supply. This buyback and burn strategy aims to increase the value of the remaining $RACE tokens over time, rewarding long-term holders and enhancing the overall ecosystem's stability.

This dynamic structure ensures that the platform offers a fun and community-driven experience. By allowing $RACE token holders to decide the betting pool, Meme Races creates a fair and decentralized betting environment. The integration of meme tokens into the platform adds an extra layer of entertainment and uniqueness, making Meme Races stand out in the blockchain betting space.