PyrMex is a futures market. You can use it to bet on what the balance of the EthPhoenix smart contract will be at around this time tomorrow.
The contract regularly features multipliers of over 300x. This time, right after the last settlement, is the best time to get in because the House takes no cut and the multipliers can get crazy when the pot is still small.
So take .01 Eth and see! It could be .3 or even 3 by this time tomorrow!
*** WANT MORE DETAILS? ***
There are 6 pots, Zerobear, Bear, Minibear, Minibull, Bull, and Infinibull, representing different ETH ranges the contract balance could be at the settlement time.
Payout multipliers depend on market sentiment, but have ranged from 1.3x (An obvious, easy bet) to 300x+ (completely unexpected outcome)
This is the simple explanation, if you want the more in depth analysis of the math and concept, there is a great write-up here:
What is ethphoenix and why would i want to bet on it?
Matthew Powell
(2/2) Onto the second element >ethphoenix.io
Whats ethphoneix.io? >Every time somebody buys or sells an EthPhoenix token, the price changes - 0.2% higher upon buy, 0.2% lower upon sell. If you keep your tokens where they are, you receive 10% from every buy OR sell transaction based upon your current share of tokens. You can convert your current token stash into Ether where it will sit in your dividends pool - your dividends are stored in ETH, not in tokens, so their value remains stable (as long as the ETH price itself remains stable.)
The more EPX one holds, the larger amount of the dividends they receive from the community pot. That also means you make a percentage off EVERY SINGLE TRANSACTION on the contract...buy and sell. All tokens are valued equally, so you can have 100 coins across 100 wallets if you would like without sacrificing any value; allowing you to partial sell too.
>how does this all work together? Once the betting stops on pyrmex.com, the price multipliers are locked in place for 1 hour prior to settlement of the contract. Leverage over 50x is common. In this hour before settlement, the bog houras it has been called, encourages EPX users to manipulate the ethphoenix market in their favor buy buying or selling tokens. As people try to amnipulate ethphoenix.io to buy/sell in order manipulate the market in their favor, the community pot is caught in the middle of this flame war and showers dividends (free eth) onto people holding. This is the most ideal form of passive income and now you can actively manipulate it further in you favor and bet on it while doing it.
This eth wave creates dividends out of volatility for token holders, and there is nothing more volatile than a daily futures market running 24/7 globally. Many user have returned night after night.
>EthPhoenix contract was completely stable >Someone just so happened to withdraw 20 Eth from the contract only a day before bets close
I'm glad I'm not a betting man.
Aiden Edwards
No you can bet without owning any tokens.
The thing is you could manipulate the outcome by buying or selling the token.
Joshua Powell
Of course people are losing interest, want to know why? For every 1 dapp the Eth Phoenix devs make the Token Balance increases by 1 ETH. Lol. It is a laughing stock of a project, led by dimwits who have no clue how to market anything.
Dominic Gonzalez
I'm gonna try betting later this time. Sure it's nice with less vig fee but I think it's wourth to pay it to get later.
