🃏STARSTAKING BetForge
JEDSTAR Gaming A.I. drive betting Program
Version 1 - 22 April 2023. To be updated
Introducing BetForge: The Ultimate Staking and Betting Platform for Gamers and Crypto Enthusiasts
BetForge is a groundbreaking staking and betting platform, meticulously designed for gamers and crypto enthusiasts seeking an engaging and rewarding experience. Developed by JEDSTAR Gaming, a visionary Web3 project, BetForge offers a unique blend of DeFi and gaming innovation, allowing users to stake JED tokens and earn KRED rewards while participating in thrilling betting activities.
Harnessing the power of artificial intelligence and machine learning, BetForge's advanced predictive model analyzes a myriad of factors to generate odds for top-performing tokens. The platform's user-friendly interface and transparent insights enable both novice and seasoned users to make well-informed betting decisions. Furthermore, BetForge fosters a sense of community and collaboration through its voting mechanism, allowing users to suggest and vote on betting elements.
BetForge's innovative tiered staking system, dynamic yield rates, and parimutuel betting pool create a balanced ecosystem that caters to varying risk levels and preferences. In addition, the platform's gamification elements, such as badges and achievements, drive user engagement and enhance the overall experience.
As a state-of-the-art staking and betting platform, BetForge offers an unparalleled experience for gamers and crypto enthusiasts alike, with a keen focus on user satisfaction, community engagement, and long-term sustainability. Dive into the exciting world of BetForge and discover the future of gaming and DeFi today!
I. Staking Mechanics
Tiered Staking System Users who stake JED tokens on BetForge will be assigned to one of the following tiers based on the amount of JED staked:
a. Tier 1: 1,000 - 4,999 JED b. Tier 2: 5,000 - 19,999 JED c. Tier 3: 20,000 - 49,999 JED d. Tier 4: 50,000 JED or more
Dynamic Yield Rate The yield rate is determined by a combination of factors, such as the user's tier, total JED staked, and KRED's market value. The dynamic yield rate is calculated using the following formula:
Yield Rate = Base Yield Rate * (1 + (α * TJS) + (β * KMV) + (γ * RMF))
Where:
Base Yield Rate is determined by the user's tier.
α, β, and γ are coefficients (weights) assigned to the total JED staked (TJS), KRED's market value (KMV), and other relevant market factors (RMF), respectively.
TJS, KMV, and RMF are normalized values of the respective factors, ranging from 0 to 1.
The base yield rates for each tier are as follows:
a. Tier 1: Base Yield Rate = 0.10 b. Tier 2: Base Yield Rate = 0.12 c. Tier 3: Base Yield Rate = 0.15 d. Tier 4: Base Yield Rate = 0.20
Staking Formula The staking rewards for each user are calculated using the following formula:
Staking Reward = (Amount of JED staked / Total JED staked) * KRED reward pool * Yield Rate
Reward Distribution The KRED rewards earned by users will be distributed on a weekly basis. The weekly reward pool is calculated using the following formula:
Weekly KRED Reward Pool = P * (1 - e^(-λ * t))
Where:
P is the maximum weekly KRED reward pool. λ is a constant that determines the growth rate of the KRED reward pool. t is the number of weeks since the platform's launch. e is the base of the natural logarithm (approximately equal to 2.71828).
Betting Mechanics
The betting mechanics are integrated into the staking mechanics, with the AI/ML model predicting the top-performing tokens each week and assigning odds to each token. Users can bet using KRED tokens or stablecoins. The potential payout for a successful bet is calculated using the following formula:
Payout = Bet Amount * Odds
The AI/ML model determines the odds for each token and may change depending on various factors, such as historical performance, market trends, and social sentiment.
II. Overview of the AI/ML model
The AI/ML model used by Galactic BetForge is designed to analyze and predict the performance of both established and newly launched crypto tokens. The model leverages state-of-the-art techniques, including deep learning algorithms, natural language processing, reinforcement learning, and ensemble learning methods, to effectively analyze vast amounts of data, identify patterns, and make predictions based on historical and current market trends. The AI/ML model is continuously trained, tested, and improved to ensure accurate and up-to-date predictions for users who wish to bet on the platform. Additionally, the platform incorporates a voting mechanism, allowing users to suggest and vote on specific elements they wish to bet on.
A. Factors considered for predicting crypto tokens
The AI/ML model considers a wide range of factors to predict the performance of crypto tokens. These factors can be categorized into three main groups: fundamental, technical, and sentiment analysis.
Fundamental Analysis:
Market capitalization
Token utility and use cases
Tokenomics (token supply, inflation rate, etc.)
Project development progress and milestones
Quality of the project team and advisors
Partnerships, collaborations, and ecosystem growth
Launch strategy and initial distribution methods (e.g., IDO, IEO, or ICO)
Technical Analysis:
Price trends and moving averages
Support and resistance levels
Trading volume and liquidity
Market cycle analysis
Chart patterns and indicators (e.g., RSI, MACD, etc.)
Sentiment Analysis:
Social media engagement (Twitter, Reddit, etc.)
News articles and media coverage
Community growth and engagement (Telegram, Discord, etc.)
Google Trends and search volume data
Developer activity on platforms like GitHub
Voting Mechanism: In addition to the AI/ML model's predictions, Galactic BetForge incorporates a voting mechanism, enabling users to actively contribute to the selection of betting elements. The voting mechanism follows a structured process:
a. Proposal Submission: Users submit proposals for specific betting elements or factors they believe are relevant and potentially profitable. Each proposal must include a brief description of the suggested element, its relevance, and a rationale for its inclusion in the model.
b. Proposal Review: The Galactic BetForge team reviews the submitted proposals to ensure they meet the platform's quality and relevance criteria. Approved proposals are added to a list of potential betting elements for the next voting cycle.
c. Voting Period: During a predefined voting period, users who have staked JED tokens on the platform can cast their votes for the suggested betting elements. Each user's voting power is proportional to the amount of JED they have staked.
d. Selection of Betting Elements: Once the voting period ends, the platform tallies the votes, and the top-ranked betting elements, based on the number of votes received, are incorporated into the AI/ML model for the next prediction cycle.
e. Implementation: The selected betting elements are integrated into the AI/ML model, and the model is retrained to include these factors in its predictions. Users can then place bets on these newly incorporated elements alongside the AI/ML model's predictions.
B. Model training, testing, and continuous improvement
The AI/ML model undergoes a rigorous process of training, testing, and continuous improvement to ensure its accuracy and reliability. The process is as follows:
Data Collection: The model gathers data from various sources, such as blockchain data, social media platforms, news articles, and market data.
Preprocessing: The raw data is cleaned, transformed, and prepared for analysis by the AI/ML algorithms.
Feature Engineering: Relevant features are extracted and selected from the preprocessed data to be used as input for the model.
Model Training: The AI/ML algorithms are trained on a large dataset containing historical data, allowing the model to learn patterns and relationships between the input features and the target variable (crypto token performance).
Model Validation: The trained model is validated on a separate dataset to evaluate its performance and identify any potential overfitting or underfitting issues.
Hyperparameter Tuning: The model's hyperparameters are optimized to improve its performance and reduce potential errors.
Model Testing: The final model is tested on a new, unseen dataset to gauge its performance in predicting the performance of crypto tokens.
Continuous Improvement: The AI/ML model is continuously updated with new data, fine-tuned, and improved to ensure it stays accurate and relevant in the ever-changing world of cryptocurrencies.
III. Betting System
a. Betting on multiple tokens with different odds
BetForge enables users to bet on various tokens, each with distinct odds determined by a combination of factors, including the AI/ML model's predictions, user voting results, and current market conditions. Decimal odds are used to represent the odds for each token, calculated using the following formula:
Decimal Odds = 1 / (Probability of Outcome)
For example, if a token has a 20% chance of achieving the highest gains, its decimal odds would be 1 / 0.20 = 5.0. Users can place bets on multiple tokens, enjoying varying risk levels and potential returns based on each token's associated odds.
b. Parimutuel betting system and pool distribution
BetForge utilizes a parimutuel betting system, where all bets are placed into a shared pool. The pool distribution is determined after the betting period ends and the results are finalized. The total pool amount, minus a platform fee, is distributed among the winning bettors proportionally based on their stake. The payout for each winning bet is calculated using the following formula:
Payout = (Individual's Stake / Total Winning Stakes) * Net Pool
Where Net Pool = Total Pool - Platform Fee
For example, if the total pool is 100,000 KRED and the platform fee is 3%, the net pool is 97,000 KRED. If a user's winning stake is 1,000 KRED and the total winning stakes amount to 20,000 KRED, their payout would be:
Payout = (1,000 / 20,000) * 97,000 = 4,850 KRED
c. Platform fee and revenue generation
To generate revenue and cover operational costs, BetForge charges a platform fee on the total pool. The platform fee is a percentage of the total pool collected before distributing the winnings. The optimal fee for this platform is set at 3%, balancing revenue generation while keeping the platform attractive to users.
Using the previously mentioned example, if the total pool is 100,000 KRED, the platform would collect:
Platform Fee = Total Pool * Fee Percentage = 100,000 * 0.03 = 3,000 KRED
The collected fees are used to maintain and improve the platform, cover any associated expenses, and ensure the long-term sustainability of the BetForge ecosystem.
By combining a sophisticated betting system that allows users to bet on multiple tokens with different odds, a parimutuel betting system for fair and transparent pool distribution, and an optimal platform fee of 3% for revenue generation, BetForge offers an engaging and rewarding experience for users while ensuring the platform's continued growth and success.
IV. User Experience and Platform Features
a. Intuitive and user-friendly interface
BetForge prioritizes an exceptional user experience by providing an intuitive and user-friendly interface. The platform is designed to be accessible for both experienced and novice users, with clear instructions, helpful tooltips, and a streamlined betting process. Users can easily navigate the platform, view token odds, place bets, and track their performance.
b. Transparent and informative AI/ML model insights
To build trust and facilitate informed decision-making, BetForge offers transparency in its AI/ML model predictions. Users can access the model's historical performance, its rationale for token odds, and the impact of user voting on the odds. This transparency empowers users to make educated decisions while placing bets and fosters confidence in the platform.
c. Voting system and community engagement
BetForge encourages community engagement through a user voting system. Users can vote on tokens they believe will perform well, and these votes influence the final odds. The voting system not only enables users to share their insights but also fosters a sense of community and collaboration among platform participants.
d. Reward system and gamification
To keep users engaged and motivated, BetForge incorporates a reward system and gamification elements. Users can earn badges, achievements, and additional rewards based on their betting performance, voting accuracy, and platform loyalty. These features promote friendly competition and stimulate user retention.
e. Security and privacy measures
BetForge is committed to maintaining the highest standards of security and privacy for its users. The platform employs robust encryption, secure storage solutions, and strict access controls to protect user data and funds. Additionally, BetForge adheres to all relevant data privacy regulations and industry best practices.
f. Customer support and education
BetForge provides comprehensive customer support and educational resources to ensure user satisfaction. Users can access a knowledge base, video tutorials, and FAQs to better understand the platform and its features. In addition, responsive customer support is available through multiple channels, including live chat, email, and social media.
By focusing on user experience, transparency, community engagement, gamification, security, and customer support, BetForge aims to create a betting platform that caters to users' needs and preferences, ensuring a satisfying and enjoyable experience for all participants. IV. Risk Management
a. Bet limits and dynamic adjustments
To ensure the long-term sustainability of the Galactic BetForge platform and protect users from potential financial risks, bet limits are imposed on individual wagers. These limits are determined based on a combination of factors, including the user's past betting performance, overall platform performance, and market conditions. Bet limits are dynamically adjusted to maintain a balance between risk and reward while ensuring a stable betting environment.
The formula for calculating the bet limit for a user is as follows:
Bet Limit = Base Limit * (1 + User Performance Factor + Platform Performance Factor)
Where:
Base Limit is the initial bet limit set by the platform. User Performance Factor is a value between -1 and 1, derived from the user's past betting performance. Platform Performance Factor is a value between -1 and 1, derived from the platform's overall performance and market conditions.
For instance, if the base limit is set at 25,000,000 KRED, and a user has a performance factor of 0.2 while the platform performance factor is 0.1, the bet limit for that user would be:
Bet Limit = 25,000,000 * (1 + 0.2 + 0.1) = 25,000,000 * 1.3 = 32,500,000 KRED
b. Reserve fund for unexpected losses or stabilizing the betting pool
To mitigate the impact of unexpected losses and ensure the stability of the betting pool, Galactic BetForge maintains a reserve fund. This reserve fund is accumulated by allocating a percentage of the platform fee collected from each betting pool. The reserve fund serves as a financial buffer, which can be utilized in case of unforeseen market events or to stabilize the betting pool during periods of high volatility.
The formula for updating the reserve fund is as follows:
Updated Reserve Fund = Current Reserve Fund + (Platform Fee * Reserve Allocation Percentage)
Where:
Current Reserve Fund is the existing amount in the reserve fund before the update. Platform Fee is the fee collected from the current betting pool. Reserve Allocation Percentage is a fixed percentage of the platform fee allocated to the reserve fund.
For example, if the current reserve fund is 1,250,000,000 KRED, the platform fee collected from a betting pool is 75,000,000 KRED, and the reserve allocation percentage is set at 30%, the updated reserve fund would be:
Updated Reserve Fund = 1,250,000,000 + (75,000,000 * 0.3) = 1,250,000,000 + 22,500,000 = 1,272,500,000 KRED
By implementing bet limits with dynamic adjustments and maintaining a reserve fund, Galactic BetForge effectively manages risks associated with the platform, ensuring the stability and longevity of the ecosystem while providing users with a secure and enjoyable betting experience.
Disclosure ⚠️
JEDSTAR Gaming offers a staking program in which investors can purchase and stake JED tokens. The contributions of JED become part of the computerized, technical process used to mint KRED, a utility token used as a currency within JEDSTAR Gaming's gaming ecosystem and on the NFT marketplace. It is important to note that JEDSTAR Gaming does not make any promises or guarantees of profits in relation to the staking program and the KRED token. The value of KRED, like all cryptocurrencies, is subject to fluctuations and cannot be controlled or determined by JEDSTAR Gaming. The KRED token is being offered as a utility token within the JEDSTAR Gaming ecosystem, and the staking rewards are simply a byproduct of participating. Any potential gains from the staking program are not guaranteed and are subject to market conditions and other factors beyond the control of JEDSTAR Gaming. Participants in the staking program should be aware that the value of their KRED holdings may fluctuate and that there is no guarantee of profit. The total staking rewards in KRED will not exceed 30% of the total liquidity of KRED to maintain the sustainability of the ecosystem.
Participation in this staking program carries risks, and investors should carefully consider their investment objectives and the risks associated with this program before investing. JEDSTAR Gaming is committed to protecting the interests of its users who participate in the staking program. The platform implements security measures to ensure the safety and security of staked JED and generated KRED tokens. However, it is important to note that no system can guarantee complete protection against all security risks. Participants in the staking program should know the inherent risks associated with holding and staking digital assets and take appropriate measures to secure their assets. This may include, but is not limited to, using a secure wallet, enabling two-factor authentication, and regularly monitoring their account. JEDSTAR Gaming encourages its users to educate themselves on the best practices for securing their digital assets and to make informed decisions about their participation in the staking program. It is important to note that JEDSTAR Gaming has no control over the tokens or the rewards generated once JED tokens are staked. The staked JED becomes part of the computerized, technical process used to mint KRED, and the rewards generated are not automatically credited to the staker's account. After the stated period of staking, all users can withdraw their staked JED and the generated KRED rewards without any intervention from JEDSTAR Gaming. The staker must take action to withdraw the rewards from the platform. JEDSTAR Gaming cannot prevent users from withdrawing their assets. As such, stakers should be aware that their staked JED and generated KRED rewards are under their control and subject to the risks associated with holding digital assets. This disclosure is not intended to be a comprehensive overview of the staking program or the laws and regulations that may apply to it, and JEDSTAR Gaming recommends that investors consult a licensed attorney for legal advice. By participating in this staking program, investors acknowledge that they understand the risks associated with it and that they are participating solely to support the growth of the gaming ecosystem.
KRED: a utility token within JEDSTAR Gaming's ecosystem
The KRED token plays a crucial role as a utility token within the JEDSTAR Gaming ecosystem. It is not just a reward for staking JED tokens but has many practical uses within the ecosystem. These uses include:
STARDOME: An online arcade with hundreds of games where players can use KRED to wage and win against other players.
AGORA: An NFT marketplace that sells SFTs where KRED serves as the currency for purchasing unique digital assets.
Night Claws: A mobile game where KRED is used to purchase premium gaming assets that enhance the gaming experience.
KDArena.gg: A tournament platform that uses KRED as both the reward currency and the currency for purchasing digital assets.
SILVERVOLT: A mobile app that enables gamers to win digital assets and KRED through games. KRED can then be used as the currency to purchase premium assets or coupons to access premium games.
The emphasis on the practical use of KRED within the JEDSTAR Gaming ecosystem demonstrates that the token is not being offered as a security with an expectation of profits derived from the efforts of others but instead serves a specific purpose as a utility token within the ecosystem. This distinction is critical for determining whether the staking program constitutes security under applicable laws and regulations.
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