Crypto Cup is a World Cup blockchain game that has been programmed into a "Smart Contract", and created on the public Ethereum blockchain. The Smart Contract can be seen by anyone who wishes to look through the source code to verify the rules of the game, which we will help to explain here.
CryptoCup provides opportunities to make money in two different ways; by trading World Cup teams and earning ETH, or by winning some of the prize fund as a team progresses through the knockout stages.
The Smart Contract can be broken down into a number of parts to help understand how #CryptoCup works and how it relates to the calculataion of ETH payouts and prizes. The following sections highlight certain parts of the code in order to help explain this.
The CryptoCupToken has a limited supply of 32, which is equal to the number of teams participating in the 2018 world cup tournament. When the contract was created, we called the methods to create a list of teams that are held in memory on the Ethereum blockchain.
The teams start with a price of 0.001 ETH. After each sale the price of the team price will double until it reaches 0.1 ETH, at which point prices will only increase by 15% for the remainder of the game.
The easiest way to buy a team on CryptoCup is to use MetaMask and visit one of our teams pages where you can purchase directly from there, provided you have some ETH funds in your account. When you successfully buy a World Cup team on CryptoCup, the token is transferred to your address and the value of the team automatically increases based on the game rules.
If you owned the team that was sold, the ETH profit of the sale is divided into three parts - only 5% goes to the operational and hosting costs, 10% goes into the prize fund that is split during the knockout stages and you'll receive a massive 85% of the total ETH
During the sale of a World Cup team in CryptoCup, the ETH allocated for the prize fund are divided up for the various stages, depending on how far the tournament has progressed. If the tournament is after the quarter finals but before the semi finals have started, then the buying and selling of teams will only increase the prize find that will be allocated to the winners of the semi finals and finals. Prize amounts are locked in around 10 minutes before the first match of any knockout stage, to ensure that winners in that round all receive the same ETH payout and are not penalised for playing first.
Payouts will occur within 10 minutes of the end of a match - trading of teams can still occur during this period so it pays to be on the ball! Live prices can be found on the prizes page.
CryptoCup was built by Evolve Software Ltd © 2018. Registered No 08217065