Ever wondered where the prizes comes from at the end of the season? We'll answer them here!
End of season prize pools will be contributed by the funds received from the event presales at preseason or pre-event periods.
However, before the prize pool can be decided, there will be other allocations Robinos will need to take into consideration. We'll take you through the steps here!
Event Liquidity (5%)
As you should understand by now, all options in events covered by Robinos will be traded on our partnered DEXs across the season.
5% of sales revenue collected from each represented team token will be used to provide liquidity for the trades. This will enable users to further purchase their favorite represented team tokens after the presale, which will directly affect the value of each represented token.
All LP tokens received from the liquidity-providing activity will be held in Robinos Treasury.
Robinos Sustainability (1-2%)
To ensure the sustainability of the platform, 1-2% of total revenue from represented token sales will be held in the Robinos Treasury. Funds collected here will be used for marketing and wages to grow Robinos Platform.
Prize Pool (93-94%)
The remaining amounts will be held in Robinos Treasury, powered by Gnosis Safe. When a season or event ends, the prize pool will be released and sent to each smart contract for users to redeem their represented tokens for a prize.
Robinos Treasury will be a transparent multi-sig smart contract wallet for all to check. A Gnosis Safe UI is provided so everyone can check and ensure that Robinos has the funds to facilitate all payouts at the end of all events managed by Robinos.
All funds received from each event will be sent to the treasury from the sale smart contract directly.
Robinos Treasury will be co-managed by fund guardians, who will be integral community members. Any fund release requested by the team will need to be approved by fund guardians together. This mechanism ensures that the team will not be able to withdraw any funds from the treasury without the permission of fund guardians.
Structure of Fund Guardians
In each Treasury set up, there will be 3 fund guardians, accompanied by 2 team members. A total of 4 approvals will be required for any asset in the Treasury to be released.
A normal flow will be as such:
A team member to request for funds removal to fund the prize pools at the end of events.
Fund guardians to assess if the fund removal proposal. If legit, the fund guardians will approve the removal. At least 2 out of 3 fund guardians will need to approve it.
Once 2 out of 3 fund guardians approve the removal, the other team member, or the last fund guardian to approve the removal of funds can execute the transaction, and the amount allocated for the prize pools will be sent to another Treasury.
The secondary Treasury will be managed by 2 similar team members, but 3 other different fund guardians. The amount received in this secondary Treasury will be used to fund the smart contracts used to disburse rewards. Represented token holders will interact with those smart contracts directly to receive their rewards at the end of the season.