🏇Solana Derby

NFT project volume races. Every week.

What is the Solana Derby?

The Solana Derby is a new type of online horse racing where participants can place bets on projects, similar to how people place bets on horses in traditional horse racing. On this platform, each NFT project is represented as a "horse" and its "speed" or performance is determined by how well it is doing on secondary marketplaces, such as trading volume.

Races in the Solana Derby last for a maximum of 6 hours and start at the same time every day. The races have a finish line, and the first project to cross it is declared the winner. Participants can place their bets on the projects before the race starts, and the bets cannot be changed once the race has begun. At the end of each race, the winners will be announced and new projects will be opened for betting, leading up to the next race.

How are projects chosen for the races?

To ensure a level playing field for all participants, each race will be based on a clear set of objective criteria, such as the liquidity, popularity, market trends, and historical performance of the NFT projects. The selection process will be regularly reviewed by independent third-party entities to validate its impartiality and accuracy. During the races, the performance of each project will be closely monitored to ensure that it is performing as expected and that there are no discrepancies that could affect the fairness of the outcome. Finally, the entire selection process and criteria used to choose projects will be transparently communicated to all participants, fostering trust and confidence in the platform. These measures will ensure that the Solana Derby is a fair and exciting platform for participants to place bets on projects and watch them race to the finish line.

How will bets work?

Each race will have a favorite horse, which is determined by the amount of money bet on that horse up until the time the race starts. The odds for the other horses are set at 4x their bet, while the odds for the favorite horse are set at 2.5x their bet. This means that if a user places a winning bet on the favorite horse, they will receive 2.5 times their original bet amount, while a winning bet on any other horse will pay out 4 times the original bet amount.

For example, let's say a user places a bet of 1 SOL on a horse other than the favorite horse, and that horse wins the race. The user will receive a payout of 4 SOL, which is four times their original bet amount. On the other hand, if a user places a winning bet of 1 SOL on the favorite horse and that horse wins the race, the user will receive a payout of 2.5 SOL, which is 2.5 times their original bet amount.

It's important to note that there is a 4% fee on each bet placed on the Solana Derby. So, for example, if a user places a bet of 1 SOL, they will actually be charged 1.04 SOL, with 1 SOL going towards the bet and 0.04 SOL going towards the platform fee.