CRYPTOCUP WHITEPAPER

Transcription

1 CRYPTOCUP WHITEPAPER The first World Cup betting powered by Blockchain

2 INTRODUCTION History Betting issues 4 2. PRODUCT How CryptoCup works? 2. 2 Playing Mode Full Mode Express Mode Exchange & Secondary Market Non fungible Tokens Prize distribution Ticket Price Game to be played worldwide 8 3. WORLD CUP Group Stage Knockout Stage TEAM FAQs How do we earn points? (group stage) How do we earn points? (knockout stage) st Round (16 teams) Quarterfinals (8 teams) Semifinals (4 teams) Final Champion & 3rd and 4th place Bonus points Roadmap 1 5 2

3 1.INTRODUCTION The aim of World Cup betting is to predict the results of the 64 matches during the tournament. In some countries sports betting has been regulated and industry is billionaire. Bookies are operating online in certain countries (where it is allowed) and accounts can be funded through credit cards or bank transfers. CryptoCup provides a new way of betting in the World Cup results through a Smart Contract which runs in the Ethereum Blockchain. Current estimates show that the football betting industry amounts to 500 bln usd and the World Cup is the major event. Every 4 years the football betting industry soares to 570 bln which shows that the World Cup plays a key role in the gaming industry. CryptoCup is a fantastic innovation for this event. Built in the Ethereum Blockchain, CryptoCup operates totally autonomously through smart contracts. Records will be stored in a decentralized and public blockchain. Thanks to blockchain technology, fraud and manipulation are rendered impossible. 1.1 History Betting on horses started in the 19th century (mainly an amusement for the royalty), it became an industry which has grown dramatically since then. It remained so until other sports became popular and attracted gamblers. Afterwards, Basketball (college and professional) and Baseball became popular as well as boxing and football. Currently, the football World Cup is one of the major events when talking about sport betting. 3

4 1.2 Betting issues Sports betting faces many problems; the main issue being fixed matches. CryptoCup solves many other issues such as centralisation and regulations. Trust CryptoCup operates in the Ethereum blockchain through a Smart Contract making the game completely transparent (public) and unalterable. Regulations Many countries regulate the sports industry by allowing only some companies in the market to start offering the services. This procedure may lead to ponzi schemes and fraud. Opportunities CryptoCup offers unlimited opportunities to participate in a global betting project. It will be the first World Cup betting game which offers you: - Unlimited bets - Instant Payouts on Ethereum - Descentralisation We have created a fair, honest and transparent betting project based on the World Cup. 4

5 2. PRODUCT 2.1 How CryptoCup works? As stated before, Cryptocup game is devised as a smart contract to receive and distribute the ETH prize. The way the process runs, is schemed on the flowchart: Enter the webpage, log into Metamask and fill out your predictions. Once done, you send your funds in ETH and you automatically receive the CryptoCup Token in your wallet. Once the World Cup is over, the contract will process the winning tokens and the ETH will be redeemed by the owners of the winning tokens. Each CryptoCup token is represented as a non-fungible ERC-721 token, featuring specific attributes (winning teams, results ). The Smart Contract will use Oraclize to read the APIs from a trusted outsourced database. 5

6 2.2 Playing modes Full Mode On the full mode, you choose the result of the 48 group matches, then the winner of each knock out match till the World Champion and finally the total number of Yellow and Red Cards Express Mode On the express mode you only need to choose the World Champion, the runner-up, 3rd place and 4th place. The group matches results and knock out matches will be filled randomly. However, you will have the chance to reshuffle as many times as you want before building or token (ticket) Although there are two ways to build the token, all of them compete against each other for the same prize pool. 2.3 Exchange & Secondary Market Although the CryptoCup tokens are not a cryptocurrency, it operates on the Ethereum Blockchain. Each token is unique, owned by a user, validated on the blockchain and the value can increase or decrease according to market conditions. For every transaction between users, 5% commission fee is charged which goes to the prize pool. 6

7 2.3.1 Non fungible Tokens Most tokens are fungible, that is to say they are identical (there is no difference between one another) and usually fractionable whereas each CryptoCup Token is unique as it states your World Cup predictions. Although there is a small chance of 2 or more players choosing the same winners and match results, each token will still be different as all tickets have different numbers. "CryptoCup Tokens" are based on the ERC721 protocol on the ethereum network. Tokens can be purchased as of May 5th to June 13th. Afterwards, the only way to acquire them is on the secondary market. 2.4 Prize distribution Prize pool will depend on the ticket prize and number of players. CryptoCup will retain 25% of the pot for expenses and costs and the remaining 75% will be distributed among winners. Should there be a tie, the prize will be shared by all the winners. Special Cases (in case of a tie) - Number of players (51 to 100) The prize split will be among the top 10 positions in case of a draw. If more than 10 players tie between the first 10 positions, prize will be awarded by timestamp. The player who play first will beat the others Ex: In case of multiple tie on 10th position, the prize will be awarded by timestamp to one of them - Number of players (101 to 200) The prize split will be among the top 20 positions in case of a draw. If more than 20 players tie between the first 20 positions, prize will be awarded by timestamp. The player who play first will beat the others Ex: In case of multiple tie on 20th position, the prize will be awarded by timestamp to one of them - Number of players (201 - no limit) The prize split will be among the top 10% positions in case of a draw. If more than 30 players tie 7

8 between the first 30 positions, prize will be awarded by timestamp. The player who play first will beat the others Ex: In case of multiple tie on 30th position, the prize will be awarded by timestamp to one of them and the other players will be assigned to the next positions Prize Pool Distribution 2.5 Ticket Price Price will increase on a weekly basis as the World Cup approaches. Week 1: 0.05 ETH Week 2: ETH Week 3: ETH Week 4: ETH * Ticket prices may vary slightly depending on ETH value, before sale opens 2.6 Game to be played worldwide CryptoCup will be played worldwide 24/7 as - Fraud is impossible as it relies on a smart contract - Public Prize Pool - Payouts are made a week after the World Cup final - Code is open. Fully available to check if interested (when sale opens) - It is anonymous 8

9 3. WORLD CUP The World Cup is a one month tournament which will be held in Russia in June/July national teams will compete for the cup. There are 2 different stages - Group Stage - Knockout Stage Group Stage starts on June 14th and ends on June 26th Knockout Stage starts on June 30th and ends on July 15th 3.1 Group Stage There are 8 groups (A to H). Each of them includes 4 national teams 9

10 3.2 Knockout Stage Only 16 teams qualify for the knockout stage. The 1st and 2nd national team of each group win the right to play the knockout stage. 10

11 4. TEAM Federico Goldberg: A degree in Industrial Engineering // 6 years as cargo manager for a cargo airline company // Acquainted with the cryptocurrency world as of 2015 // Launched a logistics startup in 2016 and fully dedicated to blockchain projects // Football fan, attended 2 world cups (South Africa 2010 and Brazil 2014). Martin Nagelberg: Finishing degree in Informatics Engineering // Successfully launched software factory in 2016 (worked in many different projects such as e-commerce sites and software optimization for SME) // As of 2015, a Bitcoin enthusiast // Attended Brazil's World Cup // Created a bot for refreshing the ticket site and become the first to get the chance to buy them Nicolas Donofrio: Finishing a degree in Informatics Engineering // Co-founder of a software factory // As of 2015, a Bitcoin enthusiast // Attended 2 world cups (France 1998 and Brazil 2014). 11

12 5. FAQs 5.1 How do we earn points? (group stage) Each match gives you a maximum of 10 points. Good choice of winning team (or draw) +3 Good choice of goals (both teams) + 7 Examples Real Result Russia 2 vs Saudi Arabia 0 Situation 1: Player picked Russia 0 vs Saudi Arabia 1 He will earn 0 points as he did not choose the winning team correctly He will earn 0 points as he did not choose the correct result Total = 0 points Situation 2: Player picked Russia 3 vs Saudi Arabia 1 He will earn 3 point as he chose the winning team correctly He will earn 0 points as he did not choose the correct result Total = 3 points Situation 3: Player picked Russia 2 vs Saudi Arabia 0 He will earn 3 point as he chose the winning team correctly He will earn 7 points as he chose the correct result Total = 10 points 12

13 5.2 How do we earn points? (knockout stage) The Knockout stage is tied to the group stage, which means that depending on your picks, you will build the 2nd phase of the World Cup. Points will be assigned per qualified team. Results will no longer earn points st Round (16 teams) Each qualified team gives you 25 points Additional points for choosing the correct place on brackets gives you 5 points Quarterfinals (8 teams) Each qualified team gives you 60 points Semifinals (4 teams) Each qualified team gives you 60 points Final (2 teams) Each qualified team gives you 50 points Champion & 3rd place Champion +50 3rd place

14 5.3 Bonus points At the end of the Match s forecast you will also have a chance to earn bonus points by guessing - Number of yellow cards = +20 points - Number of red cards = +20 points 14

15 6. Roadmap June 2014: 3 members of the team went together to Sao Paulo for the Brazil s World Cup February 2015: a few members of the team acquire their firsts bitcoins December 2017: The idea of starting a CryptoCup was born on a trip to La Patagonia January 2018: The team met all together and started working on the Smart Contract and the CryptoCup UX February 2018: Opening Social Media and Communication Channels March 2018: Launching the Landing Page and White Paper. Finalizing Smart Contract and testings start. April 2018: Product launch by the end of the month Whitelisted users informed Exchange testing May 2018: May 10th sale opens. June 2018: June 13th sale ends June 14th World Cup kicks off June 14th Exchange opens July 2018: July 15th World Cup Final July 23th funds are distributed among winners 15

16 CRYPTOCUP WHITEPAPER The first World Cup betting powered by Blockchain 16