Fees

We know that to be fully decentralized we have to align the economic incentives in the protocol, so the different users participate in creating markets and betting. Due to this reason, there are some fees that have to be paid. We want to be fully transparent on this, so there are no surprises when betting or creating a market. Let’s dig in the two fees that the bettor will have to pay.

Fees

Fee for Creator

This is a percentage of the bet price that the market creator has configured. Yes, the creator set this value according to what s/he thinks it’s the best. The principal motive to have this fee is that the creator has to spend time and money doing marketing of their markets in order to win some fees. If s/he brings more bettors, the prize will be higher, then more incentives to the bettors to earn a juicy jackpot, and the creator earns more in fees. The fee that the creator receives could be affected if the bet comes from a referral. More info in Referrals.

This fee could be set to be sent to any wallet that the market creator wants. From prode.eth will be pleased if the creator sets a wallet of public goods projects, such as Ubiburner that helps the UBI project. This fee is distributed when the market ends.

Fee for DAO

This is a fixed fee that it’s extracted from the bet price. This fee it’s aimed to cover the development expenses and the maintenance of bots that run to improve the user experience in the platform. Initially this fee it’s configured to be 1.5% of the bet price of each market. We reserved the right to change this value, but there is no intention to modify it. And even if it’s changed, it can only affect the markets that will be created after that change, and will be notified. This fee that the protocol receives can be reduced if a bet it’s made by the Referrals program.

As in the creators fee, this fee it’s distributed after a market ends.

Royalties

As we have said in the Bets section, every time some user makes a bet, a NFT it's minted with all the information of the bet. This token it's your ticket to claim the rewards in case you have earned a prize. Another option, it's to sell this NFT in your favorite marketplace. If a trade it's performed, the address defined by the market creator will receive a fee as royalties. This fee it's hard-coded and defined to be equal to the protocol fee (1.5%).

Referrals

We would be pleased that you bring more people to participate in prode.eth, friends, family, contacts, all the world!. For this reason we have created a referrals program. With this program you can earn a slice of the fees that the person that you bring have generated in the protocol. In this stage, you can earn ⅓ of the protocol fees, plus the half of the creators fee on each bet that your referral made. That means, 0.5% of the bet + half of the creators fee. This fee can be claimed every time a market where your referral has bet ends.

It’s easy, you only have to share the referral link that can be created on the site, and earn money!. What are you waiting for?, go to any market that you want to refer and start spreading the word.