Stake Run
What is Stake Run?
Stake Run is a truly revolutionary game mode that is fun, social, and most importantly, likely to become one of the first truly innovative, effective, and sustainable web2 to web3 traffic conversion and aggregation channels.
The premise of Stake Run is quite simple, participants puts up a “Stake”, or similar to a “wager on yourself to finish”; forming a Runner Cohort Pool (”RCP”), containing either fiat (under development), tokens, NFTs (under development), etc. Those that complete the game within the rules of the RCP, will not only get their original Stake back, but also share the Stakes left by those that didn’t complete the game, on a pro-rata basis.
For example, if the Stake is 30 GRI, and the RCP has 12 people who promises to run 1km every day for 7 days. This means the prize pool is 30*12 = 360 GRI to be split amongst those whom complete the challenge. If we assume 50% of the RCP completes the game, the individual payout for winnners will be 60 GRI (excluding transaction fees and assuming penalty for noncompletion is 100% of the Stake).
Users are allowed create their own RCPs, or join in RCPs created by others. Furthermore, Creators of RCPs, have the power to set the rules of their respective RCPs and also screen for runners you like. Every cohort is unique, be sure to check out the challenge before you join!
General Rules
A RCP is considered valid if:
meets the minimum requirement of participants set by the RCP Creators
all deposit the required Stake within the required time.
Winning is simple, just complete the tasks and challenges, your will be handsomely rewarded by others’ laziness or inability to complete the task.
Before the RCP starts, you have the option to quit and withdraw a portion of your stake. A penalty of 20% will be deducted if you do this. This penalty will go into the prize pool along with the Stakes of those who did not complete the tasks.
24 hours after the RCP ends, the platform will calculate the rewards and penalties by analyzing the check-in and running records of all the participants of the RCP, and the proper amounts to be settled accordingly.
Runner Cohort Pool (”RCP”)
Cohort creators can customize the requirements for every participant, including the period of the cohort, number of check-ins, running distance, running pace, and the stake amount.
Upon the start time of the Stake Run period, if the cohort has only one participant, the cohort will be automatically dismissed and the all stakes will be returned.
Joining a RCP
User can join in multiple RCPs as long as they do not overlap in terms of duration. If a user aborted or “graduated early” from a previous cohort, he/she will be released from that cohort and be able to join in the next one.
After the cohort has started, it can still accept new participants to join in if and only if the number of remaining days is greater than the number of required check-ins. New participants will be able to check in immediately after they join in.
Check-In Tasks
You can complete check-in tasks via the Check In button from the Runner Cohort Details page. In case you forget to check in via this button, don’t worry. Based on your daily uploaded running records, the platform will automatically check in for you if such records meet the requirements of the RCP. You can only check in once a day. The check-in dates of offline records will be attributed to the end time of the run. Records uploaded after the RCP settlement are not counted as valid check-ins.
Early Graduation
When you have completed all the required check-in tasks as set by the RCP creator, you can “graduate early”
After you graduate early from a RCP, you can immediately join in other RCPs or create your own RCPs without waiting for the previous cohort’s end date.
After you graduate early from a RCP, if any of your running records is flagged as invalid (such as cheating), you will no longer be able to make up that check-in.
Graduate early does not change the RCP settlement time. Your rewards or penalties will be settled after the RCP ends.
RCP Settlement
Those who complete the cohort requirements in the alloted time will have their Stake returned, in addition to earning their share of the prize pool.
A very small percentage (2%) of the RCP will be charged by the Gritti team for the operation, maintainence and continuing development of Gritti.
For those who fail to complete the RCP requirements in the alloted time, the amount of the stake which is forfeited into the prize pool will be calculated according to RCP Creator’s setting. This could be the entire pledge, or proportional to the number of incomplete check-ins.
In case all participants failed to complete the cohort requirements, penalties will be applied to all participants according to the RCP Creator’s setting.
After the RCP ends, the cohort enters the settlement phase. The platform will validate all running records and identify whether there’s any cheating behavior. Rewards and penalties will be settled within 24 hours.
Graduation Certificate
As a token of completion, a Graduation Certificate will be awarded exclusively to the users who have completed all required check-in tasks. In the future, the number of Graduation Certificates may be a criteria to enter certain Stake Run or other events.
Miscellaneous
During the RCP’s settlement phase, customer support staff will be involved in validating the running records if there’s any cheating behavior identified by the system. To maintain transparency and fairness, the platform reserves the right to invalidate cheating records.
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