DeGenius Arena FAQ

A simplified explanation of the DeGenius Arena's functionality and use case.

1. What is DeGenius Arena?

• It's a token based competition platform built on Ethereum blockchain.

• It hosts competitions between two ERC20 tokens.

2. The Idea Behind It:

• It's like PvP, where tokens compete based on the strategies set by each tokens communities.

• The value of these tokens depends on how they perform in these competitions, not just on market trading.

3. Why It Matters:

• Most crypto investments are passive - you buy tokens and wait. DeGenius Arena makes it more active and engaging.

• Community involvement has never meant more, work for your bag or lose it to the opposing token.

Smart Contract Breakdown: The Token Factory

1. The Token Factory Contract:

• It's a solidity contract (code) that manages these token competitions.

• It creates pairs of tokens that will compete against each other.

2. Key Functions:

• Starting Competitions: The factory can start a token competition with a set end time.

• Ending Competitions: It can also end the competition and declare a winner.

• Introducing New Tokens: The factory can create new tokens to keep the competition fresh.

• Setting Rules: It can set minimum balances for tokens and initiate or complete the destruction of a token.

3. Competitive Token Contract:

• Each token has its own smart contract.

• These contracts control various aspects like trading rules, taxation, and safety measures.

Features of the Tokens

1. Trading and Safety:

• Tokens have limits on how much can be traded and held to prevent unfair practices.

• They can also identify and block suspicious accounts (bots).

2. Taxation and Fees:

• There's a tax system for buying and selling tokens.

• Taxes can be adjusted and are used for operational costs.

3. Emergency Functions:

• The tokens have features for handling emergencies, like rescuing stranded assets.

4. Competition Mechanics:

• Tokens compete based on factors like how many people own them, trading volume, and liquidity.

• Winners and losers are determined at the end of the competition.

The Overall Impact

• For Users: Makes investing in crypto more interactive and fun.

• For the DeFi Space: Introduces a new way to value tokens, based on community engagement and strategic decisions.

Conclusion

• DeGenius Arena is more than a crypto investment platform. It's a competitive arena where the performance of your digital tokens can depend on how actively you and your community engage and strategize, making it an innovative addition to the world of decentralized finance.