X WINNER Cross Chain
CCIP-Share Pool
The amount of shares be minted is determined by the total wagering turnover information acquired from the Ethereum mainnet. According to X WINNER's share specification, the amount of shares minted in X WINNER varies depending on the game type and the current round, which is defined by the turnover.
Using Polygon and ETH as an example:
Each round of shares is divided into 100 parts (e.g., for 100,000 Chip Coins (CCs) in turnover, each part consisting of 1,000 CCs). When 2/3 of a part is distributed, Polygon sends a request to ETH via CCIP to determine the number of shares for the next part, based on the current turnover situation. The next part's share amount that ETH mainnet sends back is determined by the sum of all chains' betting turnovers. Through CCIP, we link different chains' share pools, allowing players to participate in a unified share pool.
Reasoning behind diving into 100 parts and distributing 2/3 initially:
Setting it to 100 parts ensures that Ethereum can send accurate share minting information to different chains, maintaining consistency across all.
Initially distributing 2/3 of a part is reserved to allocate enough time for Polygon to send and receive the next share minting information from Ethereum.
CCIP-Prize Pool:
There are two prize pool sizes, exemplified by Polygon/Aribitrum and ETH. The size of the prize pool on Polygon reflects the wagers placed on Polygon, while ETH simply keeps a record. This record includes the sum of the two prize pools on Polygon/Aribitrum and whether any chain has insufficient funds to pay out, requiring the minting of additional CC. This is updated daily.
On Polygon, the player’s bet contributes to the total prize pool amount updated by ETH. The benefit is an increasingly larger prize pool that grows rapidly. However, payouts to users from Polygon come from the actual prize pool. To tackle any shortfall, all chains have the ability to mint additional CC. The condition for triggering this is a deficit in the prize pool.
CCIP-Mint & Burn:
Users can stake stablecoins such as USDT and USDC on X WINNER's Ethereum mainnet to mint Chip Coins at a 1:1 ratio. All Chip Coins can be burned on the Ethereum chain through the X WINNER platform to reclaim the corresponding stablecoins, with a 1% burning fee. This fee is distributed to users who have staked stablecoins on Ethereum.
DEX:
Players can directly convert their Chip Coins into stablecoins via decentralized exchanges. The conversion ratio is market-driven, creating arbitrage opportunities and incentivizing liquidity provision.
When the DEX ratio of Chip Coin to Stable Coin is less than 1, people will mint Chip Coins on X WINNER's Ethereum chain and engage in arbitrage across chains via CCIP.
When the DEX ratio of Chip Coin to Stable Coin is greater than 1, people will buy Chip Coins on the DEX and engage in arbitrage by burning them on the X WINNER platform on Ethereum.
Due to these mechanisms, there will always be participants willing to provide liquidity on the DEX, thereby benefiting from transaction fees and arbitrage opportunities.
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