Gameplay and Mechanics

Placing Predictions

Users can place predictions on various real-world events on the Play Wallet platform. The events available for prediction are determined by the platform and are regularly updated. To place a prediction, users must follow these steps:

1. Choose an event: Users can browse through the available events and select the one they would like to predict on.

2. Select an outcome: For each event, there are two possible outcomes: the event occurs (Yes) or the event does not occur (No). Users must choose the outcome they believe will happen.

3. Prediction amount: Users can decide the amount they want to predict on their chosen outcome. They can place predictionss in PLAYW for the Arbitrum network, in another native token for another network.

4. Confirm the prediction: Users must review their prediction details and confirm the prediction. Once confirmed, the prediction is recorded on the blockchain, ensuring transparency and immutability.

Oracle Integration

To determine the outcome of real-world events, the Play Wallet platform relies on oracles. Oracles are decentralized services that provide off-chain data to smart contracts running on blockchain networks. In the context of the Play Wallet platform, oracles are used to verify whether a specific event has occurred or not.

When an event is due to be settled, the platform's smart contract sends a request to the oracle. The oracle then gathers information from multiple, reliable sources to verify the outcome of the event. Once the outcome is determined, the oracle sends the result back to the smart contract.

Settling Predictions

After receiving the outcome from the oracle, the Play Wallet platform's smart contract automatically calculates the payouts for winning predictions using the pari-mutuel system. The funds from losing predictions are distributed to the winners, with any additional rewards or distributions, as described in previous chapters, being applied as necessary.

Once the payouts are calculated, the smart contract transfers the winnings to the respective users' wallets. All transactions are recorded on the blockchain, ensuring transparency and immutability of the prediction process.

In summary, the Play Wallet platform enables users to prediction on real-world events in a decentralized, transparent, and secure manner. The platform leverages oracles to verify event outcomes and employs a fair and transparent payout system using the pari-mutuel method.