This section will give an overview of the different types of Prize Pools, what a Prize Strategy is, and what is on offer.
Prize Pools are contracts where users stake a token to be eligible for a prize; meanwhile they earn interest in the form of AMC Tokens. Tokens are given away as prizes by a Prize Strategy that uses a random number to select winners.
USDT Prize Pool
USDT Prize Pool allows users to stake USDT into a Prize Pool contract which then locks the staked asset into Venus Protocol. The interest from all the staked tokens is awarded as a prize.
The Prize Strategy's main role is distributing the prize. It is completely customizable and allows changes on different parameters like the number of winners, how often the prize is awarded, and so on.
The Strategy Contract has the ability to give out any tokens that have accrued to the Prize Pool contract as well any excess balance of the staked token. An excess balance can come from either accrued interest or fairness fees paid by users (more on that later). Excess balance is awarded to winners as tickets and BEP20 tokens that have accrued to the prize pool.