🏆Offering Prizes
Prize Offering Mechanism
The Divies contract allows users to offer prizes in the form of NFTs or tokens. These prizes can be bought, sold, or withdrawn by the prize offerers, and they accumulate balances over time from the stream of tokens siphoned from keybuyers. These prizes can be claimed or forfeited based on certain conditions.
In general, prizes are automatically released when the round ends, if the last keybuyer has chosen a team that directs money into the Divies. This ensures that the prize queues will continue to move, and prize offerers are incentivized to submit realistic target prices.
In general, when a prize is released, the accumulating balance of the prize is redirected to the prize offerer, and the prize is released to the last keybuyer.
Prizes are queued up in their respective queues: the NFT prize queue or the token prize queue. The pool owner can set the Distribution Queue length, which is the segment of the queue in the front which receives token streaming into their accumulating balances.
Customizable Parameters for Prize Offering
In an offering a prize, NFT or Token, the offerer must specify the following:
targetPrice_ (uint256): The target price which will result in the prize being released to the last buyer once the accumulating balance of that prize has reached it. The offerer gets the balance accumulated, and the last buyer gets the prize.maruToSpend_ (uint256): The amount of Maru tokens to spend on the prize. Maru is staked in the MaruManager contract, and Marus allocated to be spent on a prize accords privileges for the prize in question.canImmediatelyBuy_ (bool): Indicates if the prize can be immediately bought. If enabled, third party users can buy the prize by making up the difference between the target price and the accumulating balance of the prize, plus fees to the pool owner and to the protocol. If sold, the prize offer gets the target amount of tokens, and the buyer gets the prize. Once a prize is in the Distribution Queue, i.e. it is already receiving tokens into its accumulating balance, this parameter will not be changeable.
Privileges of the Prize Offerer
The prize offerer has further rights and privileges.
Selling the Prize:
Prize offerers can sell their prizes by calling sellNftPrize or sellTokenPrize. The sale price is based on the accumulating balance of the prize.
The prize offerer can initiate the sale at any time, regardless of the accumulating balance.
The prize is then immediately airdropped to the last keybuyer of the pachinko, and the accumulated balance of the prize is immediately released to the prize offerer, regardless of whether the target price has been reached.
The protocol takes a small fee for the protocol and for the pool owner when a prize offerer sells his prize immediately.
Withdrawing the Prize Offer:
Prize offerers can withdraw their NFT or token prize offers by calling withdrawNftPrizeOffer or withdrawTokenPrizeOffer.
When a prize offer is withdrawn, any accumulating balance is forfeited and added to the idle balance, which will then be redistributed to prizes in the Distribution Queue.
Changing Prize Parameters:
Prize offerers can change the target price, Maru to spend, and immediate buy option for their prizes by calling changeOfferedNftPrize or changeOfferedTokenPrize.
If the prize is in the Distribution Queue, i.e. it is already receiving tokens into its accumulating balance, changing the target price, requires Maru.
Role of Maru in Prize Offering
Prize offerers can specify an amount of Maru to spend on their prizes (maruToSpend).
By allocating a Maru budget to a prize:
A prize will survive a end of round, and continue to accumulate tokens in its balance until it runs out of maru.
The prize offerer will be able to change the target price, while the prize is in the Distribution Queue.
Conditions of Prize Release
Prizes in the NFT and token queues are released when:
The round has ended, except if the prize has an allocated Maru budget.
The accumulating balance has reached its target prize
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