• BNV

BNV Collective Intelligence Prediction Reward Policy

Updated: Feb 11

1. Background


Three problems must be solved in predicting based on collective intelligence.


First, a fair reward for correct predictions should be paid to filter out insincere predictions. The reward for correct predictions will be in BNV.


Second, most of the future is highly influenced by the current state. In most of the case predicting future same as current is most probable answer. Thus if same amount of reward is given to all selection everyone will just choose future same as current. To solve this problem, we provide more rewards for the answer that fewer people choose compared to the answer that more people choose, so that increasing the incentive to choose for the minority opinion.


Third, predicting the near future is much easier than predicting far future. Therefore, everyone will wait till last moment to give out their prediction if no adjustment is there. We solve this problem by providing stronger rewards to those who predict it first.


2. Summary


a) The HIGHER the amount of BNV You participated in,

b) The EARLIER You participate in the prediction,

c) The HIGHER the amount of BNV that You predicted the correct answer,

d) The LOWER the amount of BNV that others predicted correct answers,


the reward you receive INCREASE.


3. Total Reward Pool (BNV)

Total amount of BNV deposited by participants during the forecasting period


4. Reward Pool for Correct Answer (BNV)

Amount: Total Reward Pool amount - Reward Pool for Early Participants - Operation Fee

Description: Used for reward for participants who predicted correct answer

3. Reward Pool for Early Participants (BNV)

Amount: 20% ~ 50% of "Total Reward Pool" (*Depends on each prediction session's characteristics)

Description:

- It is used as a reward for participants who participate in the early stages of the forecasting period.

- The reward amount is determined solely by participating BNV amount and participating time regardless of whether or not the answer is correct.

- The earlier they participate, the greater the reward.


4. Early Participation Stage

- 1/4 of Total received BNV which participated earliest will belong to Stage 1

- Next 1/4 of total received BNV participated after Stage 1 belongs to Stage 2

- Next 1/4 of total received BNV participated after Stage 2 belongs to Stage 3

- Last 1/4 of total received BNV participated after Stage 3 belongs to Stage 4


ex) If total amount of BNV deposited to the session is 10,000 BNV then first 2,500 BNV participated will belong to Stage 1

5. Reward Pool for each Early Participation Stage


a) Reward Pool for Stage 1

Amount: 50% of "Reward Pool for Early Participants"

Description: Used for reward for participants who participated in Stage 1

b) Reward Pool for Stage 2

Amount: 30% of "Reward Pool for Early Participants"

Description: Used for reward for participants who participated in Stage 2


c) Reward Pool for Stage 3

Amount: 20% of "Reward Pool for Early Participants"

Description: Used for reward for participants who participated in Stage 3


d) Reward Pool for Stage 4

Amount: 0% of "Reward Pool for Early Participants"

Description: Used for reward for participants who participated in Stage 4


6. Operating Fee

Amount: 0% of "Total Reward Pool" *Limted Offer

Description: Fee for Operation

7. Example

Assume,

ABC Prediction Session's

Total amount of BNV deposited: 10,000 BNV

Session's ratio of "Reward Pool for Early Participants": 20% of "Total Reward Pool"


Then,

"Total Reward Pool" = 10,000 BNV

"Reward Pool for Correct Answer" = 10,000 BNV x 80% = 8,000 BNV

"Reward Pool for Early Participants" = 10,000 BNV x 20% = 2,000 BNV

"Reward Pool for Stage 1" = 2,000 BNV x 50% = 1,000 BNV

"Reward Pool for Stage 2" = 2,000 BNV x 30% = 600 BNV

"Reward Pool for Stage 3" = 2,000 BNV x 20% = 400 BNV

"Reward Pool for Stage 4" = 2,000 BNV x 0% = 0 BNV

"Operating Fee" = 0 BNV

8. Total Reward for Individual Participants

Total summation of a),b),c)

a) Reward for correct answer (BNV)

b) Reward for early participation (BNV)

c) Special Reward (SMTS)

9. Policy of "Reward for correct answer" for individual

"Reward Early Participation Stage" = (Amount of BNV that individual deposited to correct answer)/(Total amount of BNV deposited to correct answer) x (Reward Pool for Correct Answer)


ex)

Assume,

Mike deposited 100 BNV to a ABC prediction session mentioned above and

3,000 BNV of total 10,000 BNV is deposited to correct answer.


Then,

Mike's "Reward for correct answer" = (100 BNV/3,000 BNV) x 8,000 BNV = 266.67 BNV


10. Policy of "Reward for early participation" for individual

"Reward for early participation" = (Amount of BNV that individual deposited to certain stage)/(1/4 of total amount BNV deposited) x (Reward Pool for certain stage)

ex)

Assume,

Mike deposited 100 BNV to a ABC prediction session mentioned above and it belongs to Stage 1.


Then,

Mike's "Reward for early participation" = (100 BNV/2,500 BNV) x 1,000 BNV =40 BNV



11. Special Reward Policy

To promote initial activation of the collective intelligence prediction ecosystem, the same number of SMTS as the number of BNV assigned to the wrong answer will be compensated to individuals during the first month (until February 29, 2020).


ex)

Assume,

Mike deposited 100 BNV to a wrong answer.


Then

Mike still gets 100 SMTS as a special reward.


* This policy can be changed by SMATOOS according to the token ecosystem environment. When there is a change to the policy, it will be announced through the official SMATOOS telegram channel. The prediction session will follow the policy of the session start date.



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