Outcome Determination & Rewards Distribution
Last updated
Last updated
At the heart of Oriole Insights lies a robust, transparent, and dynamic mechanism that ensures the credibility of outcomes while distributing rewards equitably. This system incentivizes accurate forecasting and fosters a competitive and fair environment. Here's an in-depth breakdown:
24/7 Operation: Oriole Insights remains operational 24/7, opening doors for users across different geographies to engage, predict, and check their outcomes without any time constraints.
Freeze Period: The platform goes into a 'freeze' mode daily from 0:00 AM to 0:30 AM UTC. This is a deliberate measure to perform outcome calculations and prevent any market manipulation. The timing corresponds to the closure of the daily financial candle, a widely recognized marker in global finance, which enhances the integrity of the prediction outcomes.
Status Transition: All "Pending" votes from the previous day shift to an "Active" status at the beginning of the freeze period. However, the outcomes for these newly activated predictions will not be calculated until 24 hours later, ensuring that all participants operate on a level playing field.
Outcome Calculation: Every active prediction undergoes daily assessment. The initial asset’s price, referred to as the entry price, is compared to the asset's price at the end of the day. A "Draw" is declared if the entry and closing prices match precisely, which is a rarity but a possibility nonetheless. The price outcome is defined at precisely 00:00 UTC each day. Your vote entry price is compared to the 00:00 UTC price, and your vote is subsequently defined as win, lose, or draw.
Rewards Dynamics: The platform doesn't create extra ORI to reward winners; instead, the ORI comes directly from the unsuccessful voters. Oriole Insights takes a nominal fee from this loser's pool for operational sustainability. In case there will be no losers in the voting on the project in that particular day - the user will get his ORI back but won't get extra ORI. Rewards Distribution: The ORI of those who lost that particular day is distributed among the successful voters. The amount each winner receives is calculated based on a two-factor formula:
The ORI they have contributed for that particular day constitutes 75% of their reward calculation. This way, the bigger your stake compared to other voters, the bigger your reward will be. This encourages people to launch long-term votes.
Their current reputation score at the moment of the daily calculation accounts for the remaining 25%. This adds an element of expertise and credibility to the rewards system, encouraging users to improve not just their voting skills but also their overall conduct on the platform. This table shows the distribution of the rewards. The CPD (Cost Per Day) represents the weight of your daily ORI pooled in the vote on the distribution. The Rep. weight refers to the importance of reputation.
This intricate yet transparent system reflects Oriole Insights' commitment to fostering a fair, credible, and rewarding user experience. By aligning the voting mechanics with universally acknowledged financial timelines, the platform assures accuracy and builds user trust.
