Announcing Purebet Points

Purebet
4 min readSep 19, 2023

Announcing Purebet Points — a system for tracking and encouraging user interaction with Purebet. Purebet Points are a method of measuring and tracking early adopters and contributors to the Purebet ecosystem and its success. Points can be earned via many different avenues with more opportunities being added over time.

Starting from today, users can earn Season 1 Points via betting on Purebet. Both winning and losing bets are rewarded upon event settlement. The potential profit (stake * (decimal odds — 1) ) is multiplied by a result multiplier (1 for a win and 0.3 for a loss) once a bet is settled. Markets which do not result in a win or loss (such as a cancelled UFC fight) do not gain points for bettors. We will also be tracking the counter party of all bets and any user with suspicious counterparty volume will be deducted all points. This is to prevent a user matching with themselves over 2 different wallets to have no actual position on the market. We know what standard wallet counterparty volume distribution should look like so don’t bother trying to sybil/washtrade this. A few examples to fully clarify how Points are earned:

  1. A user bets 100 USDC at odds of 2.0 and matches with our aggregation market making wallet. The user bet wins. They earn 100 Points (100 * (2–1) * 1).
  2. A user bets 10 USDC at odds of 1.5 and matches with a wallet known to market make on Purebet Exchange. The user bet loses. They earn 1.5 Points (10 * (1.5–1) * 0.3).
  3. A user reads that a UFC fighter is injured and bets 1000 USDC at odds of 3.5 trying to farm Points. The market is cancelled and no points are earned.
  4. A user uses wallet A to place a market making order of 100 USDC at odds of 2.0 on a market with low liquidity and matches with wallet B. Wallet A earns 100 Points (100 * (2–1) * 1) and Wallet B earns 30 Points (100 * (2–1) * 0.3). We notice this irregular activity and deduct some or all of the Points from both wallets.

The number of Points earned by your wallet is shown in the betslip area of the website when no outcome is selected, and how you compare to the top 20 is shown on the Leaderboard page.

Bonus Points can be earned via our Galxe campaigns. Each week, each user can earn 30 bonus Points by placing a bet of at least 10 USDC. To do this, sign up to Galxe, connect your Solana wallet used for betting at Purebet, and once you have placed your eligible bet at Purebet, drop the tx hash in the #galxe-tx-hashes Discord channel. We will verify the bet is not sybilling or wash trading and make your wallet eligible to claim the bonus Points on Galxe. Galxe forces claims to be done manually by a deadline so the claim deadline is 1 month after the start of each week. Only bets placed on sporting events taking place within each week are eligible for each week. Weeks run Monday-Sunday night. Galxe bonus Points are NOT added to the Purebet website leaderboard/points total in real time and will be added once Season 1 ends.

There is also a Galxe campaign for following on Twitter and joining our Discord which earns an additional 20 bonus Points. Wallets which ONLY complete this task will NOT have their bonus Points converted to Purebet Points at the end of Season 1.

Additionally, we are trying to add referrals to our Galxe campaign to act as a testing platform to see if a Purebet referral/affiliate system is viable but are running into limitations of Galxe. Keep an eye out for this to be announced soon if it is possible.

Users who have bet with Purebet before Points were announced will have Season 0 points retroactively awarded some time in the future using onchain analysis.

In a few weeks, we will look to run some betting/tipping/capping competitions with more Points up for grabs. Keep an eye on our Twitter and Discord announcements for more chances to earn.

In other news, we recently won 1st place in the Monaco-sponsored track of the OPOS Hackathon with our new mobile-first simplified UI called Swipe by Purebet. We also recently added Divvy.bet as an aggregated venue, and added a bunch of new leagues such as the Rugby World Cup, Asian Games football, and the AFC Champions League.

Purebet Points currently have no monetary value and no ability to be converted or swapped into anything. The reward/NFT on Galxe has no value or function and will have no value or function. It is just a placeholder to make Galxe work with Solana addresses — only the points earned there matter.

About Purebet

Purebet is the first onchain sports betting aggregator. It aggregates odds and liquidity from 8 protocols across 6 blockchains ensuring Purebet users always get the best odds for their bet, and best execution for their size. Bets on placed at Purebet are settled seamlessly on Solana through our onchain exchange architecture and winnings are paid direct to wallets automatically.

Follow on Twitter: https://twitter.com/Purebet_io

Join our Discord: https://discord.com/invite/22tr2FYAh9

Our website: https://www.purebet.io

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Purebet

A decentralised sports betting exchange, liquidity aggregator, and degam ecosystem.