Degen Mode
Structure
Degen mode is a multiplayer tournament that runs over a specific time period and requires players to wager 'time" to compete for tournament standings and tiered prize pools. In addition to buy in's RAG will on occasion overlay $TRDR and $RAG from the working treasury and NFT's as prizes.
Time is wagered in the form of candles and the outcome of the wager is if the candle closes "Red or Green". A Red candle will close at a lower price than it opened, while a Green candle will close higher than its open price.
Time periods of tournaments will begin at 6 hour intervals at launch with shorter/longer tournaments to be implemented as DAU grows.
Tournament prize structure (top heavy) will apply for both Degen and Trader Modes.
Players will be allocated with 15 - 20% of the total time the tournament runs as their starting bankroll
example.
A 6 hour tournament (360 minutes) will allocate players with a starting balance of 60 min.
Players will have the ability to wager time (1m, 5m, 15m,) on the corresponding next candles from a live chart. Players will be rewarded with win streak bonuses and different multipliers dependent on the time candle they are wagering. All wagers must be confirmed 10 seconds prior to the candle opening. All candles will be taken from a specific ticker from trading view for consistency.
When a player is successful with their wager the time amount wagered is refunded back to their balance for the tournament and points allocated with multiplier.
Win streaks will carry over multiple time frames making strategic choices for the player valuable depending on factors such as time left in tournament and other Technical Analysis indicators. Win streaks are capped at 5, however the 6th,7th,8th... are all scored at the 5th streak multiplier of 2.7.
Players are only able to wager once on each candle within the time frame of the tournament. example - there is 15 min left in the tournament and a player has 25 min of time left, that player can wager a max of 15 min on that candle but may spend the remaining 10 split across the 5 or 1 min candles.
after a candle closes there will be a 5 min delay before points are shown and time re credited for winning wagers.
Win Streak Bonus
1
1
2
1.2
3
1.5
4
1.9
5
2.7
Scoring Points System
1 Min
1
5 Min
3
15 Min
8
Last updated