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Nezha blog - NEZHA

NEZHA

Nezha blog

Hello Nezharians! As we’ve already shared, at Nezha’s launch debut, we will have one of our first games deployed for you to start playing immediately! 

Called the ‘Nezha Draw’, we are inviting players to test their luck at our fresh take on yield farming, where you can deposit as little as $25 USDC for the chance to win, week after week. It’s also the very first game where our users can truly stake it to make it, and potentially land a huge six figure jackpot! 

Here, we will deep dive into how the Nezha Draw works, explore how we make a $100,000 USDC jackpot available every single week, and discover why the Nezha Draw is going to be the first game to feature on the Nezha platform.

How is Nezha Able to Make a $100,000 Jackpot Available Every Single Week? 

Every week on the Nezha Draw, there is at least $100,000 in USDC up for grabs. The six figure sum, a huge jackpot even by traditional standards, is available week, after week, after week. But how? How is Nezha able to offer such a huge jackpot right from our launch?

The answer to this is simple: we leverage our founder’s deep experience and links in the online gaming space to pair <a href="http://www.nezha.fi">Nezha</a> with specialist insurance technology providers; who deploy tailor-made payout protection for our prediction market games. By offering insured games, we become the first platform that can offer attractive jackpots right out of the box. To solve this huge barrier to growth for new platforms, we have developed the first on-chain insurance agreement with internationally acclaimed fixed risk insurer RSIQ, enabling Nezha to rapidly scale.

Our insurance fund is tailored to the Nezha Draw game, and stands ready to pay out in the event that someone wins the jackpot (read on for how to win!). This enables Nezha to offer users two key features from our inception that other platforms don’t: 

Technically, with Nezha, it’s possible that someone could win the $100k USDC jackpot with just a small sum staked in the Nezha Draw in the weeks immediately after our launch. But, like we say… you’ve got to stake it to make it first! So, let’s discover how the Nezha Draw works, and how you can participate.

The Nezha Draw functions similarly to a traditional sweepstakes game. At the beginning of each Nezha Draw game, six numbers are attributed to each player entry. Each participant is awarded entries proportional to the number of tokens staked into the protocol, which will be a stablecoin such as USDC. So, while the minimum staking requirements start at just $25 USDC, you can stake all the way up to any amount of your choice for increasing chances to win! 

Each Nezha Draw entry holds a series of numbers as well as a unique identifying ID per entry ticket. Every series of numbers generated for the Nezha Draw is passed through a True Randomness Generator using atmospheric noise to translate it into a sequence of truly random numbers. 

A separate sequence is then initiated to generate the winning number of the lottery. Using a Verifiable Random Function (VRF) infrastructure, Nezha generates a sequence of six unique numbers generated at random using Goldberg’s verifiable random function. In this function, a public and a secret key are generated which ultimately determines the winners of each Nezha Draw round.

For the Nezha Draw’s first launch, payouts from the prediction pool are structured into two tiers. In the event that any Nezha Draw participant holds four or more of the drawn numbers in the correct order, they hold a claim to part of the Prediction Pool - the prize pool from which Nezha Draw winnings are paid. All participants who hold four out of six drawn numbers in the correct order are awarded a claim of the total YieldPot.

Nezha Draw stakers who hold five out of six numbers matching the prediction market outcome in the correct order will be awarded a higher claim of the total Nezha Draw Yield Pot. And, for those lucky players who hold six out of six numbers matching the prediction market outcome in the correct order, they will be awarded the grand prize - our huge jackpot of over $100,000 USDC. This jackpot is available every single week, so while it’s likely the jackpot will remain unwon, it’s possible that someone could walk away with this huge sum any week that the Nezha Draw is live!

To celebrate when a lucky winner takes home the Nezha Draw jackpot, we’ll also be exploring the issuance of exclusively minted NFTs. Not only is this a great way to remember a win, but it also enables us to track jackpot winners. These dynamics provide sufficient variety to assure non-bias towards large market participants as well as continuous increases in value of the yield generating sum.

We’ll soon be releasing more information about the debut launch of our Nezha Draw game, make sure you follow our social media accounts below to find out more information and get ready to stake it to make it! 

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BLOCKCHAIN

In just a few weeks, Nezha will make its debut through an IDO, making the NEZ token available for purchase for the first time. The NEZ token, central to the functionality of the Nezha prediction market protocol, is a vital piece of our entire ecosystem. Without the NEZ token, the Nezha ecosystem can’t function, and we want to highlight its importance to our project ahead of our IDO debut!

NEZ tokenomics can be broadly divided into four key areas of utility, including 1) Access to Games; 2) Access to Premium Tiers; 3) Pool Origination and Maintenance; and 4) Governance.

We’re going to explore each of these features within this article, but do also remember to check out <a href="https://uploads-ssl.webflow.com/616ab590dcd432e48bcd2846/61a9d22f5fb3b2513763afe2_Whitepaper%20Nezha.pdf" rel="noreferrer noopener" target="_blank">our whitepaper</a> for a more detailed explanation of how the NEZ token functions within each of these Nezha protocol mechanisms.

Our prediction market games are, naturally, the biggest attraction to the Nezha ecosystem. In order to gain access to the prediction games, users will be required to stake stablecoin tokens, and perhaps other supported tokens in the future, into the NEZ protocol, which will remain locked until the end of each game cycle.

These locked assets, as we discovered in our last article, are pooled and routed to external yield producing protocols, which are then used to generate daily compounding yield that is distributed weekly into the Nezha pools. We’ll explore these below.

However, by staking the $NEZ token, these games can be enhanced. Those staking NEZ will receive access to premium tiers — which we discover in the next section — but there’s also going to be enhanced user experiences and perhaps even enhanced prizes for those staking $NEZ. Therefore, while not essential to access games, $NEZ is a critical component for those looking to up their game and take their prediction market playing up a notch!

Staking NEZ provides access to premium tiers to its holders. Premium tiers correspond to different levels of user experience, which is solely achievable through staking NEZ tokens.

Depending on the tier level, premium users are rewarded with extra prediction market entries (i.e. more ‘tickets’ to games), which are handed out proportional to their NEZ stake in the protocol.

Staking NEZ tokens also give access to premium game pools — unavailable to regular users — which may have higher jackpots and yields, or to early releases of new games being released in the Nezha ecosystem.

Finally, if a user is a premium member for a long enough time, their commitment to the Nezha community will be rewarded by receiving exclusively minted Nezha NFTs! More information will follow on this after our launch.

Pools are essential to the Nezha ecosystem, as they power our prediction market games, accumulate yields, and generate interest. In order to launch the pools required to operate a game, participants will be required to stake a certain amount of NEZ tokens.

After a pool has been created, NEZ tokens will be required on a rolling basis to maintain the pool’s balance. In addition to the main prediction pool, which generates winnings for Nezha’s YieldPot, there will be several other pools which either support our ecosystem or provide bonus incentives for the NEZ token. These include the Rollover Pool, the Operational Pool, the Reserve Pool, our Affiliate Flywheel Pool, the Nezha Foundation Pool, the Liquidity Provider Pool, and lastly, the Buyback and Burn Pool.

A detailed overview of each pool and it’s functionality is included in our whitepaper, but let’s briefly explore the role of the NEZ token within each specific pool:

Last but not least is the role of the NEZ token for governance within the Nezha protocol. NEZ token holders will be granted rights that allow participation in governance and administrative decisions, as well as voting on the operational development of the ecosystem.

Any token holder who has staked their NEZ within the Nezha platform can contribute a suggested improvement proposal to the wider Nezha ecosystem. All suggested improvements will be reviewed by the board of the Nezha DAO and suggested solutions will be proposed to all members for voting. This will evolve over time as Nezha grows.

Independent of DAO membership, NEZ holders will be able to vote on newly submitted games or game proposals by developers; allowing devs to validate game ideas before embarking on their development.

As you can see, NEZ is a token with deep utility and a multitude of clearly defined use cases within the Nezha ecosystem. We went to great lengths to define our tokenomic strategy ahead of the NEZ IDO, and we hope you’ll agree that we’ve laid the foundations for a strong and flourishing NEZ token economy.

To learn more about Nezha’s upcoming initial decentralized offering, follow us on social media below:

About Nezha: Nezha.fi is a revolution in prediction markets. Nezha is the liquidity engine for prediction markets where the participants do not wager their principal investment, but rather the yield generated on the pooled principal of all participants. Learn more at: <a href="https://www.nezha.fi/" rel="noreferrer noopener" target="_blank">https://www.nezha.fi/</a>

Nezha will soon make its debut in the crypto sphere through a multi-platform IDO, which will make our $NEZ token available to our community for the first time.

But before we welcome new users and token holders to our ecosystem, we want to build a solid foundation of knowledge and material to help you understand why Nezha was founded, our position in the market, and what makes our solutions unique.

Here, we’re going to examine Nezha’s cutting-edge positive sum smart yield routing, discover the benefits of our approach, and explore why we chose Solana as our first go-to blockchain protocol. But before we begin, let’s discover what prediction markets are.

To help us understand why Nezha is a revolutionary concept, we must first briefly examine prediction markets as a concept and an instrument of speculation.

For the uninitiated, prediction markets are created for the purpose of speculating on the outcome of an event — which could be as diverse as an election outcome, who’s next in line for an Oscar, or even when the next Apple product launch will be.

They are typically a zero-sum game, in that they are essentially a <a href="https://en.wikipedia.org/wiki/Prediction_market" rel="noreferrer noopener" target="_blank">binary option</a> with only two outcomes; win or lose. Therefore, a prediction market player typically stands to either lose their entire stake, or win — there are no additional ways to win or realise different outcomes.

The internet kickstarted the popularity of prediction markets, and blockchain technology added another layer of functionality, ease of access, and decentralization to the traditional prediction market model. But, to date, there has been little in the way of innovation or paradigm shifts within the prediction market ecosystem, and it’s still a zero-sum game. Until now.

How is our solution and technology unique?

At its core, Nezha’s revolutionary prediction markets are powered by smart yield routing across third-party DeFi protocols, which generate — and subsequently distribute — yields to our prediction market participants. This mechanism, paired with the high yields of DeFi, enables Nezha to optimize yields for its users beyond that of traditional prediction markets. This is all explained in detail in our whitepaper already, but what does this actually mean in simple terms?

When players use Nezha-based games and prediction markets, they stake crypto assets into NEZ protocol smart contracts, which essentially contribute to Nezha’s total value locked (TVL), much like other DeFi protocols. These tokens then remain locked until the end of each game’s staking cycle. It’s at this point that Nezha’s smart yield routing takes over, identifying opportunities and using these funds to leverage and take advantage of the highest and most stable APYs that DeFi has to offer.

The benefit of this approach is two-fold. For Nezha’s community and users, we can finally provide a positive-sum predictions market environment, powered by the unparalleled opportunity and yield generated by the decentralized finance market. But how do we ensure that instead of the all-or-nothing approach of traditional prediction markets, Nezha players can take advantage of a positive-sum environment?

As we have already examined above, when a user places their stake into a NEZ protocol smart contract, this liquidity is used to generate DeFi yield. But, if a Nezha user speculates on a prediction market outcome and loses, they don’t lose this initial stake. Instead, they only forfeit the yield their liquidity made while it was locked into the NEZ smart contract. Therefore, the only loss is essentially only a small lost opportunity cost, compared to traditional prediction markets where the loss of initial capital would be 100%. Conversely, if they win, they are distributed the yields which accumulated on their stake during the course of the game or prediction event.

On the other hand, for the Solana ecosystem and other layer one blockchains on which Nezha builds, Nezha functions as an unparalleled liquidity engine driven and powered by the very users of the blockchain upon which we are building. This approach not only provides better rewards for Nezha users compared to traditional prediction markets by leveraging the phenomenal returns of the DeFi market, but it also helps build a strong and sustainable on-chain economy for the world’s most promising layer one blockchains, and therein lies the transformational power of Nezha.

Nezha will host several liquidity pools to support this functionality, including the core prediction pool, a rollover pool, an affiliate flywheel pool for referral bonuses, and the Nezha Foundation pool — all of which will be explored in greater detail in a future article. But now, let’s look at our choice of layer one blockchain.

Firstly, we should start by reminding our community that Nezha will eventually be blockchain agnostic — that is, able to run cross-chain and interoperable with a number of layer one blockchains. As some of you may know from our whitepaper, we also plan to deploy for the Cardano blockchain once our platform has reached maturity on Solana.

Solana is an exciting and rapidly expanding ecosystem with a huge and dedicated community. With a focus on scalability and affordability, it has rapidly become one of the leading smart contract blockchains of choice for developers worldwide, who are seeking an alternative to Ethereum’s rampant network fees.

Solana already has a vibrant staking ecosystem, with some 75% of all SOL actively staked within the network, and supported by a growing range of crypto wallets and exchanges. This is quickly paving the way for advanced DeFi protocols — with multiple <a href="https://defiprime.com/solana" rel="noreferrer noopener" target="_blank">live DeFi protocols</a> running on Solana at the time of writing.

By extension, this is also good for Nezha. Not only can Solana provide lightning fast transaction finality and affordable transactions to Nezha’s users, but it is also a rapidly expanding ecosystem in need of liquidity providers, which is the perfect opportunity for our project to grow rapidly alongside the Solana protocol.

We look forward to welcoming new users to Nezha’s community in the coming weeks, and we will be looking for opportunities to connect with the wider Solana ecosystem. So, if you’re interested in being at the forefront of the prediction market revolution, make sure you follow us on social media here:

<a href="https://www.nezha.fi/" rel="noreferrer noopener" target="_blank">Nezha.fi</a>, the liquidity engine for the next generation of prediction markets, has successfully raised over $1.4 million from venture capital investors; including AU21, ZBS Capital, OIG, Vespertine Capital, Coban, 5ire, Llama Ventures, Nodeseeds, Insignius Capital, and the New Field Fund.

A blockchain-based prediction market platform, Nezha is developing an exciting gamified decentralized finance ecosystem with a multitude of mechanisms to ensure attractive yields and security through tailor-made smart contracts, as well as delivering long-term growth and stability for its users and token holders.

Nezha’s revolutionary prediction markets are powered by smart yield routing across third-party DeFi protocols, which generate — and subsequently distribute — yields to Nezha’s prediction market participants. This mechanism turns zero-sum prediction markets into a positive-sum ecosystem where participants always retain their initial stake.

Collectively, Nezha’s VC partners have funded leading projects in the blockchain space, including Polkadot, Binance, The Graph, CasperLabs, Certik, Axie Infinity, Harmony, and many more.

Ivan Gowan, Co-Founder at Nezha.fi, says:

Nezha will now seek final funding to close its private round before hosting a public IDO and making its token, $NEZ, available to public token buyers and early users of the Nezha prediction market ecosystem. Interested VC investors may contact <a href="mailto:investors@nezha.fi" rel="noreferrer noopener" target="_blank">investors@nezha.fi</a> for more information about how to get involved.

To learn more about Nezha’s upcoming initial decentralized offering, follow them on social media below: