YOLOrekt - a bet on the price of a game in ETH/USD on the Ethereum blockchain. Combining intuitive design, gamification and a fun social atmosphere, YOLOrekt offers a new impetus for short-term options trading. Here, both beginners and experienced traders will be able to gamble.
Contents:
How to play on YOLOrekt?
Traders are put into three-minute games with a one-minute break, where their knowledge of the market and their prediction of where the price of ETH is heading in the short term is put to the test. There is no White Paper and no Roadmap on the platform. Please note that the project does not provide a referral system and other bonuses.
Each game is divided into three stages:
| Stage 1: Determining the strike price in the game |
Each game begins by determining the average price of ETH during the initial thirty seconds of the game. YOLOrekt does not use an oracle, but instead gets the ETH market price directly from the Coinbase Price Websocket API. This number is what traders will use to place bets on the next step. |
| Stage 2: Bets | Once the price is set, players have one minute to place a bet on whether the ETH market price at the end of each game will be higher or lower than that number. |
| Stage 3: Waiting | After the previous phase, all bets are completed, recorded and displayed for viewing by all players. In this last phase of the game, traders must wait a minute and a half to see if they have won or not. At the end of this phase, the winners are announced. This is followed by a cooldown phase one minute before the start of the next game. |
At the end of each game, the losing side's stakes are combined and distributed proportionally among the winners. If a player bets more than the other winners, he or she will receive more pool. YOLOrekt takes a small fee of 1% on the ETH winning pool only.
Theory and mechanics of blockchain games
The developers have applied a time-reducing win factor to encourage fast betting - giving players better wins and preventing people from starting betting at the end of the round. As a trader, you can keep an eye on the current volatility and place your bet by waiting a bit and getting a smaller win, but with a higher probability. Or vice versa, by placing a bet earlier, with a higher potential win, but with a lower probability of winning in the game. Despite the benefits, platform users should be aware that there are no giveaways or other promotions.
Platform stats:
- 1398 visitors, spending an average of 5:30 minutes per game;
- 168 DAU;
- 115 created wallets;
- betting volume over $50,000 (bots + users).
Through integration with the Abridged SDK, developers were able to create a simple login with a username and password. In addition, if the player does not have ETH, the currency can be bought, using their card without even leaving the game.
Prior to YOLOrekt, options trading was a complex investment tool. YOLOrekt brings the same mechanics and results, introducing a fun, game-like social atmosphere. Both amateurs and experienced traders can easily understand the essence of the game and enjoy the process. Developers do not provide information about the presence of an audit of a smart contract. Subscribe to the telegram channel of the project to stay up to date with all news.