FAQ and Troubleshooting
There’s a 25 block buffer on each round, which can cause delays of up to 60 seconds after the end of a round. This buffer is to accommodate for the fact that we may not be able to reliably fetch a price and end a round immediately: various blockchain factors affect the speed in which transactions get confirmed on the network.
Make sure you have enough BNB in your wallet to pay for gas fees. You’ll need a little BNB to trigger the smart contract.
Markets are paused when there are conditions which affect the reliability of the contract. Markets being paused means that no bets will be taking place for any rounds.
The market will pause under the following conditions:
- 1.The contract has been unable to obtain the price from the ChainLink oracle due to the oracle not having posted the price at the time the round has ended.
- 2.The zai option contract has been unable to execute an action (ending a round or getting a price from the oracle) due to the tx being stuck in the mempool for longer than 25 blocks.
The markets will resume when an admin manually resumes the market.
If the markets pause while you have a live position, your funds will be available to reclaim, the same way as you would normally claim your winnings.
To reclaim funds, you’ll need to pay some gas fees. We can’t compensate you for the gas fees, also the ZAIF 5% tax fee will still be applied, so please bear this small risk in mind before participating.
If only one side of a round has positions entered into it, then that side loses, the losing funds will be sent to the treasury.
For example: User A enters an UP position, no one else enters a DOWN position. User A loses, and there are no opposing positions for the winnings to be paid out to. Funds are sent to treasury.
In the very rare occurrence that the Locked Price is exactly the same as the Closed Price, no one wins, and all funds entered into positions will be sent to the treasury.
No. Once you enter a position, you can NOT change the directtion, add to, or remove your position. It's locked in, so make sure you're 100% happy with your position direction before confirming.
No, you’ll be able to collect your winnings at any time in the future.
- Payout Ratio for UP Pool = Total Value of Both Pools ÷ Value of UP Pool
- Payout Ratio for DOWN Pool = Total Value of Both Pools ÷ Value of DOWN Pool
For example, if there’s 2900 ZAIF in the DOWN side of a round, and the overall prize pool is 290000 ZAIF, the DOWN payout ratio will be (290000/2900)=10x.
- Payout Amount = Payout Ratio × Position × (1 - Treasury Fee + Referral/Pot Fee )
In the above case, if the round ends on a DOWN result, if you committed 200 ZAIF to a DOWN position, you’d get a payout of (200*10) × (1 - 0.05) = 1900 ZAIF. Your profit would be 1700 ZAIF (1900 - 200).
The treasury fee is currently set at 3%: this may be subject to changes, which would be announced on Zaigar Finance official communication channels. Treasury fees are used to maintain the platform running and team expenses.
On Zai Options ZAIF fees are not disabled, so entering a position and claimed rewards will have its 5% tax fee normally.
On top of that 3% of the Prize Pool will go to the treasury for maintenance.
And 2% of each user´s winning amount will go to their referrer or the weekly jackpot in case the user wasn't referred by anyone.
We believe that the ZAIF fees will not be a problem since most rounds the minimum payout is at least 25% accrued profit.
Zaigar Finance uses two sources for our price feeds. Each of them has its own purpose within the market:
- Used for the Lock price and End price of each ZAI option market round. This updates in intervals of 1 hour.
- Our contract uses the ChainLink Oracle price feed to set the prices used to dictate whether a user has won or not.
- Used for real-time price updates on the Zaigar Finance ZAI options market interface.
Since we’re using two different price feeds, the real-time price updates from Binance and the ChainLink Oracle price may differ by a small amount. However, they shouldn’t vary significantly.
Sometimes, after a round closes, the final result may be different from the last result shown while the round was live. If you watch one round end on "DOWN", it may appear to flip to "UP" a few seconds later.
This is because we use the ChainLink Oracle price feed to determine the final outcome of a round. The period between the end of one round and the start of the next is 60 seconds, but the Oracle refreshes every 47 seconds. It's possible that during this short period, the Oracle might send an update while the transaction to trigger the next round is being minted. This can appear to "flip" the outcome of the previous round.