Styx Tournaments

Overview of the Styx Tournaments offered by Grave Finance

Styx Tournaments are a fork of the Last Man Standing tournament system where users can purchase tickets for a chance to win a larger final prize. The tournaments are designed to maximize user participation to generate buy pressure on peg tokens. This is one of many utilities that Grave Finance will build for the peg tokens.

The core functionality of the Styx Tournament is as follows

• The contract is loaded with an initial amount of tokens by the team

• The contract dynamically prices the entry ticket, via the TICKET_SIZE variable. Example: If the TICKET_SIZE is set to 1%, than the price to enter the ticket will be 1% of the total amount of tokens in the contract. If the total amount of Grave in the contract is 500, than it will cost 5 Grave to enter the tournament

• The first ticket purchased in the tournament will "kick it off" and start the ROUND timer.

• If no one else buys a ticket after the first user, than the user will be able to claim the pot as a prize at the end of the round. Example: Contract is loaded with 500 grave. Johnny buys a ticket with 5 grave. The ROUND variable is set to 6 hours. 6 hours passes and no tickets are bought, Johnny can now click the "Claim Winner" button on the page to get 500 Grave!

• However, if someone else buys a ticket during this time, Johnny is no longer the winner. The user who bought the most recent ticket is now the winner. The timer is now reset back to the ROUND timer variable of 6 hours.

• A percentage of each ticket purchase goes towards the contract total (pot size) to increase larger rewards , and the remaining portion can be set to be burned, or sent to a different address. Example: Johnny buys a ticket for 5 grave. 80% of the ticket is set to go to the pot, and 20% is burnt. 4 grave goes to the contract, 1 is burnt. Pot total is now 504 and the new ticket price is adjusted accordingly to 5.004

Key mechanics unique to Grave Finance Styx Tournaments

There are a few mechanics to these tournaments that incentivize sustainability and user friendliness.

Decay

The first mechanic is the DECAY variable. This variable is set to a specific amount of time, typically a few minutes in length. The DECAY variable decreases the ROUND time with each ticket purchase.

Example:

• Johnny buys a ticket in the Grave Styx Tournament for 5 grave winner of a 500 grave pot.

• New user Danny buys a ticket for 5.004 Grave (due to slightly larger pot) and bumps Johnny out of the tournament

• ROUND timer resets BACK to 6 hours MINUS the Decay variable.

• Decay is set to 3 minutes. New ROUND timer is 5 hours 57 minutes.

• This process repeats with each ticket purchases. A new ticket purchase would now reset the ROUND timer to 5 hours 54 minutes.

• This process repeats until the ROUND timer is <= to DECAYSTOP variable. This variable is typically set to 6 minutes. Meaning if the tournament lasts long enough to dip below 6 minutes, each ticket purchase resets it to 6 minutes.

• Once a winner finally lasts the entire round and claims the prize. The tournament will RESET to an INITIALPERIOD variable, which will reset the timer BACK to 6 hours to begin again.

Rollover

The second mechanic is the ROLLOVER variable. This variable is set to a percentage of the final pot reward. In a typical tournament, the user can win the entire contract total of the particular token. After which, someone needs to fill the contract (typically the team) for the tournament to begin again. The rollover variable solves this issue by allowing the user to only claim up to a certain percentage of the pot, allowing the remainder of the pot be left behind to start the tournament fresh again without user interaction.

Example:

• Johnny wins the tournament and the final pot is 1000 Grave.

• The ROLLOVER variable is set to 20%. Meaning when Johnny claims, he will only get 80% of the pot.

• Johnny gets 8000 grave. Tournament resets, and now users can start the tournament again with 200 grave prize.

The rollover variable can be tweaked and set to the sweet spot of tournament activity. With the POTSHARE variable allowing a percentage of ticket purchases to increase pot total, this allows the tournament to be self sustainable, provided enough users buy tickets.

The ROLLOVER variable will typically start at 50%, and increase to a much higher percentage after a certain threshold of ticket purchases is met. This is designed to ensure that when the winner claims and tournament restarts, there is enough tokens available to continually allow users to restart tournaments.

Avax Styx Tournament

The Avax Styx Tournament will have all of the same mechanics as above, with 1 new unique feature. This tournament will allow users to purchase tickets with native avax for a chance to win a larger pot of Avax.

Avax Ticket Market Buy

The percentage of ticket that is set to burn in Grave or Zombie tournaments, will be changed to a "Market Buy" mechanic in the Avax Tournament.

Example:

• Pot total is 50 Avax. Johnny purchases a ticket for 0.5 Avax (1% of pot). MARKETBUY variable is set to 40%

• 40% of this ticket use automatically used to buy Grave and Zombie from their TraderJoe liquidity pairs, and those tokens are sent to the Grave and Zombie tournament addresses to increase the pot size. 20% towards Grave, 20% towards Zombie

• The Avax tournament not only serves to give users a chance to win a large Avax prize, but to add continuous BUY pressure on the peg tokens and also support and sustain the Grave and Zombie Styx tournaments with larger pot sizes.

• The Charon Rebate system (coming soon) will help to add Avax to the Avax tournament, and also burn Grave and Zombie tokens.