Rico Pass
A seasonal profit sharing model between gamers and traders
We're introducing a new seasonal player pass ownership system that lets traders share in the profits from players who win tournaments.
How it works
Passes operate on a bidding system. Each gamer pass can be owned by only one user at a time, but there’s no limit to how many passes a user can own.
Every time you get outbid, you get back what you paid for the pass plus a percentage of the difference between your bid and the new higher bid. This means you earn money every time you get outbid! There are some exceptions, so please check the profit distribution section below.
Seasonal Reset
At the end of the season, all passes are reset to their initial price of 0.002 ETH. See End of Season information
Prize sharing
As a pass owner, to receive tournament earnings from the Rico pass, you must be the owner of the pass 5 minutes after the Tournament start time!
Step by step bidding example:
- You bid 0.006 ETH and own Fatal1ty's pass.
- Someone outbids you with 0.008 ETH.
- You get your 0.006 ETH back plus an additional 0.00066 ETH (33% of 0.008 - 0.006).
- Fatal1ty gets 0.00068 ETH (34% of the increase).
- The platform receives 0.00066 ETH (33% of the increase).
Pass Holder benefits
Share of the profits from players who play and win tournaments.
When a player who's pass you hold earns money in a tournament, you receive 20% of their winnings.
During prize distribution, the owner of the pass is determined by who owns the pass exactly 5 minutes after the Tournament start time!
Note that you receive your share when the earnings are distributed, not at the moment the player wins. See Tournaments Prize distribution for more information.
Note on reward distribution
As a pass holder, you receive your share of the profits when rewards are distributed to the players; not when the tournament finishes.
Step by step profit sharing example:
- Fatal1ty wins a 0.05 ETH tournament.
- 5 minutes after the Tournament start time, you were the owner of his pass.
- A few hours later, rewards are distributed to the players.
- Fatal1ty receives 0.04 ETH for winning the tournament.
- You receive 0.01 ETH for owning the pass.
XP boost
For every pass you hold you will receive a 5% boost in XP earned, up to 50%!
Pass costs
Each pass starts with a bid price of 0.001 ETH. This is also the maximum allowed bid at this level. As the pass price reaches 0.008 ETH, the minimum bid requirement rises to 0.003 ETH.
Here’s a table illustrating this:
| Pass Price | Bidding cost |
|---|---|
| 0.001 ETH | 0.001 ETH |
| 0.008 ETH | 0.003 ETH |
| 0.032 ETH | 0.006 ETH |
Profit distribution
When a pass is outbid, the difference between the old and new price is divided among the player (gamer), the previous holder (trader), and the platform (BT).
| Trader | Gamer | BT |
|---|---|---|
| 33% | 34% | 33% |
Please note the following special use cases:
| Use Cases | Trader / Gamer / BT |
|---|---|
| First bid on own profile | 0% / 0% / 100% |
| First bid on random profile | 0% / 50% / 50% |
| Overbid another user on your own profile | 50% / 0% / 50% |
Downgrading your pass (Coming soon)
As mentioned, every time you get outbid you get back what you paid for the pass plus a comission.
In the situation where nobody outbids you, you will have the ability to downgrade your pass to make it more attractive to other traders.
Note that when you downgrade one of your owned passes you do not get back what you paid for it.
We are aiming to have this feature live in the middle of the first season.
End of Season information
At the end of the season, all passes are reset to their initial price of 0.002 ETH.
Any user holding a pass at the end of the season will have a chance to disenchant it and receive Raffle tickets for the 1 ETH final seasonal trader raffle.
The number of tickets is determined by the current value of the pass: you will receive 2 points for every 0.002 ETH the passes you hold are worth.