Prizes
How the prizes work and how they are calculated.
Last updated
How the prizes work and how they are calculated.
Last updated
The Jackpot is the prize awarded to the user who correctly predicts the outcome of all matches — 7 matches in Ace the Brackets Elite 8 and 15 matches in Ace the Brackets Sweet 16.
If there are multiple winners, the jackpot will be proportionally divided among them.
The Jackpot is calculated from the total number of entries in the game, with each entry costing $5 USDC, minus the protocol fee of $0.5 USDC.
For example, if a game has 10 submitted brackets, or 10 entries, the jackpot will be calculated as follows: 10 x $4.5 USDC = $45 USDC. Similarly, if a game has 30 entries, the jackpot will be $135 USDC, as this equates to 30 x $4.5 USDC.
Thus, the more entries a game has, the larger the jackpot will be.
A key feature of the jackpot is that it rolls over to subsequent games. This means that if no user correctly predicts the outcome of all matches in a game, the jackpot will roll over to the next one. This process continues until a user successfully predicts all match results.
If no user correctly predicts all match outcomes in a game, 10% of the total entry amount for that game will be awarded to the user(s) with the highest number of correct predictions — hence the name High Score Prize.
Using the same examples above: if a game has 10 submitted brackets, or 10 entries, the High Score Prize will be calculated as follows: 10 x $0.5 USDC = $5 USDC. Similarly, if a game has 30 entries, the High Score Prize will be $15 USDC, as this equates to 30 x $0.5 USDC.
Following the same logic, the more entries, the higher the High Score Prize distributed if no one wins the jackpot.
