HOW IT WORKS
The contest works according to the following rules:
– there are a maximum of 50 prizes in the final;
– at least 15 registered tickets are required to start the contest;
– if there are only 15 tickets, only the first 3 prizes will be awarded;
– if there are at least 60 tickets, only the first 5 prizes will be awarded;
– if there are at least 100 tickets, only the first 10 prizes will be awarded;
– if there are at least 150 tickets, only the first 15 prizes will be awarded;
– if there are at least 175 tickets, only the first 20 prizes will be awarded;
– if there are at least 200 tickets, only the first 25 prizes will be awarded;
– if there are at least 250 tickets, only the first 30 prizes will be awarded;
– if there are at least 350 tickets, only the first 40 prizes will be awarded;
– if there are at least 500 tickets, all 50 prizes will be awarded.
The winners selection mechanism has been designed so as not to encourage entries only in the first days. Thus, the prizes will be offered uniformly on all days when there were tickets with predictions within the limits of the maximum allowed error.
Tickets will be drawn in 2 stages:
– SEMIFINAL
– FINAL
Let’s take the following scenario: The BTC price on Binance closed in the week of January 5-11, 2022 would be 47000 USDT and the predictions (entered between January 5 and 10) are presented in the following table:
NOTE: For each day there are two levels depending on the prediction error. The first level has a maximum allowed error, and the second level has a minimum allowed error. This prediction error decreases by 20% daily compared to the previous day’s error:
(The errors are expressed in USDT)
SEMIFINAL: At the end of the contest, the tickets will be grouped by days, sorted in ascending order according to the prediction error. (the ticket with high accuracy will be on the 1st place in level 1 for each day).
FINAL: The tickets will be drawn from level 1 of the error in the order of the semifinals, starting with the 1st place of each day and will be ordered according to the day of registration. Then the tickets with the 2nd place (from the semifinal) will be drawn, then the tickets with the 3rd place … until the last place from level 1 of the error.
If one day there are no tickets in level 1 of error, no tickets will be drawn from level 2 instead of those in level 1!
After completing the draw from level 1, if the 50 places in the final have not been filled, tickets will also be drawn from level 2 as follows:
a). All the tickets (level 2) from the 6 days of the contest are mixed
b). The tickets are drawn in the order of the accuracy of the prediction, without taking into account the day of the prediction. IF THERE ARE TWO / MORE IDENTICAL PREDICTIONS, THEY WILL DRAW ACCORDING TO DAY, HOUR, MINUTE, SECOND OF THE TICKET REGISTRATION (see all cells marked in orange and yellow).
NOTE: The time of opening the buy order (hour, minute, second) is important, not the time of payment (payment can be made within 60 minutes of opening the buy order).
Thus, the ticket can be reserved for a maximum of 60 minutes!
The allocation of prizes will be made taking into account the following diagram:
– The winning tickets from the 16th to the 20th places will each receive 0.7% (a total of 3%).
– The winning tickets from the 21th to the 25th places will each receive 0.5% (a total of 2.5%).
– The winning tickets from the 26th to the 30th places will each receive 0.4% (a total of 2%).
– The winning tickets from the 31th to the 40th places will each receive 0.3% (a total of 3%).
– The winning tickets from the 41th to the 50th places will each receive 0.2% (a total of 2%).