EPICX is a fully decentralized gamified trading platform, running on the ICON blockchain. With our platform we are aiming to break the dull routine of the trading experience and to provide a tool for the beginner and experienced traders alike to enhance their skills and maximize their gains.
Our platform currently consists of 4 decentralized gaming applications, each covering a different aspect of the trading experience. They are all skill based competitive player-vs-player type games with no play against the house (and respectively house edge), unfair advantage or pay-to-win mechanics involved.
Price Predictions is a pool-based trading game where each player is aiming to accurately guess the market position of a chosen crypto pair in a preset moment of time.
Each game instance relates to a specific set of rules (chosen crypto pair, prediction timeframes, reward structure etc) and when joining one, the players could place one or more predictions, reflecting their view of where the market is going. Each prediction has to be backed by either a fixed priced ticket or a custom ICX amount depending on the set game rules.
After the set closing period (the period in which players can place predictions) passes, the placement of further predictions is closed. All predictions are summed up in a reward pool and the ‘waiting for outcome’ period starts. At the preset resolution time (the time that the players are placing predictions for), the outcome and the respective winners are determined depending on which predictions were the closest. The reward pool is then distributed amongst the winning players.
Price Predictions instances generally divide into two separate types – Fixed (preset ticket price) and No limit (custom ICX prediction size). Both game types play out in a similar way – they reward the predictions that were closest to the outcome, the only differences are how predictions are placed and how rewards are distributed at the end of the game.
Fixed price games are simpler in concept – in them each player enters their prediction by backing it up with a fixed ticket price. The reward structure is simple in kind as well – whoever is the closest, wins a fixed prize, depending on their exact position relative to the other players’ predictions.
This reward structure unfortunately cannot be used for No limit games as in them each player has the freedom to back up their prediction with a custom ICX amount, so it does not make sense to provide the same reward to someone that placed 1 ICX prediction as what we are rewarding a player that has placed a 100 ICX one.
For that reason, the No limit reward structure is a bit more complex. The first goal of our system is to equalize the playing field, so let us imagine that a 100 ICX prediction is instead split into 100x1 ICX predictions. This certainly helps as we now have prediction sizes of the same value. This raises another question though – in the example above if we split two 100 ICX predictions into 100x1 ICX predictions each, how do we determine how many spots do we provide a reward to?
We have resolved this by implementing a tiered-reward scheme for our No limit Price Prediction games. What that means is that instead of rewarding a limited amount of spots, we set up a percentage based leveled reward structure, where each tier is allocated a certain cut of the prize pool.
In example, we decide to reward 15% of the placed predictions and to split the rewards into two predictions. Tier 1 will consist of the closest 5% of all predictions and they will receive 50% of the total rewards. Tier 2 will consist of the next 10% that were closest to the outcome and they will receive the remaining 50% of the rewards.
If we do some calculations based on the above example, for Tier 1 as we are distributing 50% of the rewards to 5% of the reward pool, that means that the predictions that were able to get in that Tier (the closest 5% to the outcome) will have their winning predictions multiplied 10 times as a result (50% (rewards allocated to this tier) / 5% (predictions in this tier) = 10 (reward multiplier)
When we do the same calculations for Tier 2, we find out that the predictions in that Tier will receive a 5 times reward multiplier (50%/10% = 5)
The bonus scheme for Price Predictions is in the form of two weekly free-to-play challenges. Each of these free game instances is with a separate reward pool generated directly from the general winnings in the Price Predictions games.
The Weekly Free Challenge is a game that everyone can access and is one in which each player can try out the Price Predictions experience without the need to spend any ICX. The game is with free entry and all player predictions are treated equally as they would be in a ‘fixed limit’ game. The prize structure varies according to the number of players in the game and ensures that the players are rewarded in a fair way.
The Weekly Winners’ Challenge is the second free challenge and although in a lot of ways similar to the Free Challenge, its functioning in a slightly different way. While the Free Challenge was aimed for the most part towards new players, the Winners’ Challenge’s main goal is to maximize the gains for the experienced players.
The Weekly Winners’ Challenge is accessible once a player generates some kind of reward in a Price Predictions game. From this point onward each player can access the Winners’ challenge and place a free prediction in it. The predictions are treated as ones in a ‘no limit’ game, where the size of the prediction, instead of being determined by the amount of ICX placed on it, are taken as a sum of the amounts that were and will be generated throughout the whole Winners’ Challenge closing period.
In example, lets imagine that this week’s Winners’ Challenge is opened for the period from 0:00 on 01.09 until 00:00 on 08.09 and the resolution time for it (the one that you are predicting the price for) is 00:00 on 15.09.
Player1 has decided to enter the Winners’ Challenge at 12:57 on 04.09 and so far in the week 01.09-08.09 he has won 315 ICX. He decides that the price of ICX on 15.09 (the resolution time) will be $105 so he places that prediction. Until the closing time of the challenge (08.09) he has generated 215 additional winnings from Price Predictions games. 00:00 on 08.09 passes, so the game enters the ‘waiting for resolution’ phase (until it is resolved at 00:00 on 15.09) and the player’s prediction size is entered as 315+215=530 ICX (what he has earned throughout the whole closing week)
Crypto duels is a 1v1 strategic bag building game, where each player is aiming to outplay their opponent by selecting and matching crypto currency pairs against their opponent’s selection. The bag building period is split into several phases, where each player makes, denies, or matches a selection of his opponent against one of his.
Before the game starts, each player has to select how much is the minimum and maximum that he is willing to spend on an entry ticket and what would be the resolution timeframe that he is going to play for.
The ticket price that the player will play for is set by each player setting a preferred ticket price and an acceptable range in which that ticket price could be extended. In example it a 50 ICX preferred ticket price is set, and the acceptable extension range of that price is set to 10 ICX, that means that the system will be looking for a match for this player in the 40-60 ICX range (50+10/50-10). If another player has started a search and a part of both players’ price ranges overlap, they will be matched together. When matching together, the system will be looking for a price level that is closest to both their preferred ranges and in that process will prioritize the player that started the search first.
The resolution timeframe works in the same way as the Price Predictions’ resolution time, so its not the actual playtime that the players have to spend on a Crypto duels game (the standard playtime is around 5 mins), it is actually related to the period that will pass before an outcome is calculated. In example if you choose to play on a 1h timeframe, that means that after you and your opponent finish up your game setup, the timer starts and after 1h the game will be resolved.
All Crypto duels games proceed in several phases:
Phase 1 (ban phase): each player selects two crypto pairs that will be banned for his opponent for the rest of the match.
Phase 2 (pick phase): each player selects two crypto pairs that will be added to their bag.
Phase 3 (match phase): each player selects two additional crypto pairs that will be added to their bags. Each of those two pairs will be matched against one of the pairs that their opponent selected in Phase 2.
Phase 4 (blind match phase): each player selects one crypto pair that is blindly matched to what their opponent has selected in the current phase.
Each phase is 1-2 minutes long and after each phase competes, each player can see a game summary of what has happened so far in the game. After all selections were made, the results are summed up on the screen and the resolution timeframe timer starts.
In the first 20% of the game’s respective resolution time each player is able to send a ‘double-up’ challenge request to their opponent, asking him to double the ante that was originally agreed upon. The player receiving the challenge can in kind reject this challenge, accept it, or accept and send a re-double up request (making the original ante 4 times larger). The player receiving this double up request will have the same options: reject / agree / agree and re-double up.
At the end of the resolution period, the price movements of each crypto currency in the player bag since the resolution period’s start is calculated and compared to its matched counterpart in the opponent’s bag. The crypto currency that had higher result (the one that gained more, or in case that both crypto currencies are at a loss for that period – the one that lost less) for that period is winning the match. The player with most winning pairs (out of the 5 matches) wins the duel.
After each Crypto duels game, the player progresses in the dedicated Crypto duels leaderboard. Each Crypto duels win awards the player with 2 leaderboard points and each loss deducts 1 point from his balance (the player points cannot go below 0)
The leaderboard is resetting on a seasonal basis. Each season consists of 3 months, out of which the first 2 weeks are a qualification period.
During the qualification period all players are in one common pool. Every player is aiming to get as much points as possible as gaining more points means claiming a higher position and respectively a start the season in a higher division when the qualification ends.
After the end of the qualification period the players are distributed into divisions, according to their current qualification placement. The division distribution is as follows:
Masters: top 5% of the player pool
After the qualification period ends and all players are distributed into a respective division, the season starts. Any player that joins from this point onwards is automatically placed into the Bronze division
As the game-specific prize pool mechanic for Crypto duels, the main goal of the seasonal leaderboard is not only to provide rank to the players but to also allocate rewards according to that rank. There are two types of rewards that are distributed to Crypto duels players: weekly and seasonal.
As the names imply the weekly rewards are distributed on a weekly basis and the seasonal ones – at the end of the season. The weekly Crypto duels in-game reward pool is split into those two rewards – the weekly rewards get 70% of that and get distributed at the end of each week once the season starts and the seasonal rewards get 30% of that pool but get accumulated until the end of the season and are distributed then.
The distribution structure is the same for both the weekly and the seasonal rewards. The rewards are allocated according to the division that the player is in, and they do not take into account the exact rank of the player in the division. The rewards are distributed as follows:
Masters: 30% of the pool
Diamond: 22.5% of the pool
Platinum: 17.5% of the pool
Gold: 15% of the pool
Silver: 10% of the pool
Bronze: 5% of the pool
The movement of the players within and between the ranks depends on the points that they generate on a weekly basis. According to the points that you have, compared to the other players in the division each week a certain player could be - eligible for promotion, safe or in danger of demotion.
The top 30% of the players (ranked according to the leaderboard points that they have) in each division (except Masters) are eligible for promotion. The bottom 30% of the players in each division (except Bronze) are in danger of demotion. Which means that each week after the division rewards are distributed, the points of the players that are ready for promotion in a certain division are compared to the points of the players that are in danger of demotion in the league above them and according to the results, some players might be moving up or down in a different division (in example a high ranked player from Gold league might replace a low ranked player from Platinum if the accumulated points for the Gold league player are higher)
After all points are compared and the division distribution is finished, the points for all players are halved and a new week starts with the newly formed divisions.
Whenever a player joins a game on EPICX, alongside the game rewards they generate a certain amount of our platform’s token (EPX) to their wallet. The token is based on the ICON blockchain, it is fully transferrable, and its main purpose is to provide rewards to the holders of the token in the form of weekly dividends generated from the platform’s revenue.
EPX starts with 0 circulating supply and can only be generated via playing on the platform. It is rewarded according to the ICX spent on the platform at a rate of 1:1. Certain events could temporarily increase that ratio and provide a higher amount of EPX generation.
All generated EPX are added up and summed as the token’s circulating supply, which reflects the total amount of EPX distributed to players since the platform’s launch. The circulating supply has a hard limit, a maximum that it cannot pass and that is the total EPX supply (5 million).
So, what is EPX used for? A cut of the overall platform’s revenue (5%) is distributed towards a so-called Dividend pool. The role of this pool is to keep that part of the revenue set aside so it could gradually be distributed among the EPX token holders.
At the end of each week the dividend pool releases a certain percentage of the amassed ICX and sends them directly to the wallets of the EPX token holders. The percentage that is distributed equals to the current circulating supply percentage (relative to the total supply) – the higher the circulating supply goes; the higher percentage of the Dividend pool would be allocated to the token holders on a weekly basis.
Whenever weekly dividends are distributed, each player receives a cut of them, depending on how much of the EPX circulating supply (total distributed tokens) he owns. When the players participate in more games, they generate more EPX and respectively receive higher cut of the weekly ICX dividends.
The way that the tokens are received do not matter – if they are transferred/bought from another player or generated on the platform, whether the token holder is a frequent player or his wallet is not registered on the platform, dividends are distributed to each token holder.
As some players favor direct gains to long-term dividends, we have implemented a ‘sell’ option on our platform, where users can receive a direct benefit from their EPX. If a player decides to use this option, he can return a part or all the tokens that he owns (the ‘sold’ tokens are removed from the circulating supply) and to receive a direct cut from the current Dividend Pool in ICX. The cut received equals the percentage of the tokens that the player owns related to the circulating supply - in example if a player owns 5% of the circulating supply, when he ‘sells’ to the platform, he will receive 5% of the current Dividend Pool.
In order to make sure that the platform’s dividends are distributed in a fair way, we have added two additional token mechanics, related to the token’s circulating supply.
If the circulating supply is below 10%, the ‘sell to platform’ option is disabled. This ensures that there is no abuse of the planned added pools at the platform launch and that the Dividend Pool direct rewards are not abused in general.
If the circulating supply goes above 95%, there is an automatic selloff triggered for all token holders, equaling 10% of their holdings. This counteracts a situation where the total supply is reached and no other tokens can be allocated to new players, while keeping the ownership ratio equal for all players, as it was prior to the selloff trigger. This mechanic also counters situations with ‘eternal’ investors no longer active or lost wallet keys as these holdings will dilute over time in case that close to maximum supply is reached enough times.