🛠️How it works ?

How the Event Betting Platform Functions

The Event Betting Platform operates as a versatile and comprehensive ecosystem, fostering a myriad of interactions among diverse users. This platform is not only a conduit for interaction but also a transparent and secure environment where users can create, participate, and gain. Here’s a more detailed explanation of how user interactions unfold within this innovative platform:

Event Pool Owner (EPO) and Event Pool (EP) Creation:

The Event Pool Owner (EPO) acts as the cornerstone, initializing and configuring Event Pools (EPs). These EPs are unique instances housing details about specific future events, the likelihood of outcomes, and other essential configurations.

Token Allocation and Pool Size Determination:

The EPO commits PRLN tokens to determine the pool size of the EP. This commitment also involves providing collateral in the currency of the EP, establishing a secure foundation for the bets placed within the pool.

Activation and User Participation:

Upon activation of the EP, players can begin to participate, facilitating them to place and submit bets to the EP. This vibrant setting allows for a seamless interchange of bets and stakes, enhancing the overall experience in the betting landscape.

Liquidity Provision and Expansion:

EPO has the ability to invite Liquidity Providers (LP) to contribute additional liquidity to the pool. This process enhances the pool's capacity, facilitating a smoother and more inclusive betting environment.

Player Interaction and Bet Submission:

Players can interact with active EPs, exploring various betting options and making informed decisions based on the information provided within the EPs.

Bet Placement and Submission:

Players have the capability to place bets, solidifying their selections. The platform is constructed to guarantee a straightforward and user-friendly experience for submitting bets.

Outcome and Reward Collection:

Once events conclude, players can observe the results and receive rewards contingent on the correctness of their bets, enriching the overall experience.

Encouragement and Liquidity Boost:

LPs receive incentives to contribute more liquidity to the pool, maintaining the platform's resilience and allowing it to host a broader range of bets.

Flexible Fee Arrangement for EPO:

EPOs have the ability to determine and collect fees, compensating their endeavours in managing and upholding the pool, thereby fostering a self-sustaining ecosystem.