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Automated Play Pools (APP)

First Sports Events Automated Play Pools

Basics

The Automated Play Pool ("APP") is a smart contract dedicated to each sport match.
At first, it collects the bets on different outcomes (e.g. team A wins / team B wins / draw). Once the match starts, bets are closed until completion. Finally, at the settlement of the match, one outcome is declared winner, allowing winners to withdraw a share of the losers bets alongside their initial investment.
In other words, if your team wins the event, you win a share of the opposite team pool
😎
Automated Play Pool Lifecycle Overview
Bets collection Match
.-------------------------'------------------------.-----'-----.
​
>----------------------------o---------------------|===========$
​
​
> : APP opening
o : a bet from some adventurous coon
| : freeze
$ : settlement
In essence, the APP is a zero sum game. The right balance between the different outcomes is ensured through arbitrage opportunities in the same way as it is established on Decentralized Exchanges ("DEX").
​

Timely Rewards

The last thing we want is to see everyone placing a bet at the last second. To counter that, incentives are provided for placing a bet earlier.
The incentive consists of 2 components:
  • reduction of fees proportional to the whole bets collection time span
  • redistribution of the collected fees among the early players proportional to the amount of their bet and their earliness
Automated Play Pool Fees & Incentives for a given bet
fee saved fee
.---------'----------.----------'----------.
​
[>--------]--------------------o---------------------|===========$
​
[] : no fees window
> : APP opening
o : bet
| : freeze
$ : settlement
The earlier you bet, the bigger the incentive!
A "no fees" window is added at the beginning of the APP lifecycle to give a fair chance to the most incentive greedy coons out there.
​

Staking Rewards

As the cherry on the cake, the amount invested in an APP is automatically staked to earn GANG tokens until the event resolution, at a rate most likely higher than the regular GANG staking pool.
Once again, the earlier you enter the play pool, the more you farm GANG tokens!
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A word about Event Cancellation

When a sport event is cancelled, every coon is able to withdraw what he invested without enduring any fees (the incentives are then lost too). However the staking rewards are still earned!
​