We want to introduce to you our idea of tokenizing any big sport event with Waves Platform:
This is how we can integrate token economy in real life and get everybody to take advantage of it.
Basically, the idea is to combine suspense we get while watching the world cup with crypto trading logic - like when we are trying to choose which altcoin to buy. Also, we want to make it simple and clear for everyone in order to minimize our engagement in the whole process.
So, we have 32 teams and there are 32 tokens, each has its own unique ID token and fixed emission. 20% of the tokens will be distributed up until and including June 13. The price for this amount of tokens will be fixed and will be determined by the betting odds found in open sources. Each team will be selling at its own price: Germany and Brazil tokens will be the most expensive, Saudi Arabia and Panama - the cheapest ones.
But who knows how much will Saudi Arabia token cost after the team scores its first goal in the first match with Russia on June 14? Russian national team is not the strongest one and is likely to miss a couple of goals. Will Saudi Arabia token go to the moon, then? :
That’s why we’ve decided not to control the prices of team tokens after June 13 and to sell the rest 80% of the issued tokens at market prices.
Your goal is to choose the world cup champion and to hodl till the end. Or if you will change your mind eventually and decide to pick another one – just buy/sell it on Waves Dex whenever you want. Just like that. Or you can always buy the winning team token during the final match, but the price will probably be sky high.
Below you can find mini-FAQ with a few questions. Also join our telegram chat to ask more: https://t.me/worldcuptoken.
What currencies are going to be used to sell issued tokens?
Sell orders will be placed on Waves DEX in Waves.
How are we going to distribute the rest of the issued tokens after June 13?
Starting from June 14 and till the end of the World Cup 2018 all the issued tokens will be selling at market prices in Waves to accumulate a bigger prize pool. Depending on the demand, all issued tokens are going to be sold evenly and gradually during the World Cup 2018 (to avoid pumping/dumping).
What will the owner of the winning team token get in the end?
That’s the main part. Obviously, we collect Waves when selling team tokens on DEX - these funds will form the prize pool where 96% of will be distributed between the winning team token holders, 4% fee.
How exactly is the prize pool going to be distributed?
96% of the prize pool will be evenly distributed among the winner token holders. For example: we will sell 100 000 Brazil tokens and the prize pool will be 300 000 Waves, therefore, the price of the Brazil token equals 3 Waves. This means that every Brazil token holder will receive 3 Waves for 1 token.
On the site you can check the amount of tokens sold, their current price on the Dex in real time and their potential price in case of winning. So please check the potential price on the site before buying tokens on the market.
Because there are four of us, it takes a week and some costs to make the tokenization happen this way. And also check the next question.
And do we really plan to create full-functionality platform?
We don’t plan but we want. And we definitely will do it anyway. But if this story succeeds big time (meaning moony jackpot and fees) we will do it faster. So do not hurry to burn losing team tokens. Most likely they will be useful in the next tournaments.
Guys, please join the game and leave your feedback.