Disclaimer: The text below is a press release that was not written by Cryptonews.com.
The Elite League is a Time Trial that is an exciting 14-day racing special event that gives you the opportunity to stake REVV in exchange for a guaranteed REVV reward, PLUS a payout from a 1.6 million REVV (approx. US$50,000 at time of writing) prize pool based on your gameplay performance over the course of the event!
Every player that participates in the Elite League will receive a REVV reward, and the top players will win big!
This event is a way to explore creative ways to combine DeFi, NFTs, and game mechanics as we build a true play-to-earn economy in F1® Delta Time, made possible by the unique capabilities of blockchain gaming. We’re giving all entrants something for participation and additionally rewarding the most skilled players. Please let us know what you think (see contacts below).
Join us now at www.f1deltatime.com for our most exciting racing event yet!
Quick Start: F1® Delta Time’s Elite League Time Trial 14-Day Event
- Ensure you have at least 10,000 to 100,000 REVV available for staking (you will claim it back after 14 days)
- Own at least one Car, Driver, and Tyres
- Additional Parts (Brakes, Suspension, etc.) will improve your Car but are not necessary to play
- To enter the event, stake your REVV on 5 October 2020 UTC (you can make your entry stake after 5 October if you wish, but this means you will miss some race days)
- Racing starts on 5 October 2020, 00:01 UTC with a new race occurring every day
- You can increase your stake (or make your first stake) on 5–7 October and 12–14 October 2020
Need a Car, Driver, or Tyres? Buy them and all other components on OpenSea.
Need REVV? Get some here.
Start playing at www.f1deltatime.com!
How it Works
Entry to the Elite League requires staking of REVV. This stake will be held by F1® Delta Time and can be claimed back in its entirety 14 days after a player’s most recent stake. Players who place in winning positions will receive prizes in REVV. All players will receive rewards, which will be based on their performance during the event.
NOTE: in order to race in the Elite League Time Trial special event you must stake REVV. Racing starts on 5 October 2020 so we recommend that you stake on that day in order to maximise your event performance. You can still make your entry stake after that date, but late entry will cause you to miss race days and will decrease your chances of success.
Like in the normal Time Trial game mode, players of the Elite League Time Trial need to select the appropriate Car, Driver, and Tyres composition for each race track. The track changes daily, requiring the player to alter their current composition every day in order to maximise race performance. Results are for a daily basis, with only your best time being counted.
Unlike the normal Time Trial, no fee is required to play in this special event. Instead, players will have unlimited tries (provided of course that they have staked the REVV required to enter the event).
NOTE: Gas fees apply to REVV staking and claiming.
Entry REVV Stake
To enter the Elite League, competitors must stake a minimum amount of REVV according to the Tier/s in which they wish to compete. A REVV stake only counts for a specific Tier, so if you want to compete in multiple Tiers you will need to stake multiple times.
Reward Pools and Minimum Stake (Staking Entry)
*The Shared Pool is a fixed 2% of the total rewards for each Tier, distributed evenly among players who did not place in the top 20 of their Tier.
Each Tier has its own entry requirement and rewards, with Tier A having the highest entry requirements and rewards.
The top 20 players in each Tier will win a fixed amount of REVV depending on their position (e.g, 1st place in Tier A will win 100,000 REVV). Players who place 21st and beyond will receive an equal share from the Shared Pool, which is 2% of that Tier’s Reward Pool (e.g, In Tier A the Shared Pool for positions 21+ is 20,000 REVV, which will be split evenly among the number of applicable players).
Once staked, your REVV is locked for 14 days following your most recent stake. You can withdraw your REVV stake after this lockup period ends. Rewards will be airdropped to participants approximately two days after the end of the Elite League, or around 21 October 2020.
Fixed Payout Tier A
Fixed Payout Tier B
Fixed Payout Tier C
Stacking Your Stake
Although there is a minimum stake required to enter each Tier in this event, there is no upper limit. Players have the option to stake REVV during the first 3 days of both weeks (Monday to Wednesday UTC, being 5–7 and 12–14 October). This allows you to increase your stake in a Tier even after the event has started.
All stakes are subject to a 14-day lock period. Players who stake early on Day 1 will be able to withdraw that stake when the event ends 14 days later. Players who stake on Day 2 or later will need to wait 14 days to claim back their stake in that particular Tier. This means that your REVV could be locked up even after the end of the event, depending on when you staked it.
Tiers and Rewards
Every player will receive two types of rewards for participating in the Elite League special event.
Fixed rewards: paid out to all players in every Tier. The exact amount of REVV won is determined by a player’s final position at the end of the event. The top 20 players in each Tier will receive an amount of REVV based on their position, and all remaining players will receive an even share of the Shared Pool, which consists of 2% of that Tier’s Reward Pool.
Yield rewards: the Top 10 players in each Tier will also receive additional winnings in the form of a yield directly proportional to the amount of REVV that they staked. Fr example, if a player staked 1,000,000 REVV and finishes in first place, he/she will receive the first place prize for his/her Tier from the fixed rewards, plus an additional yield reward of 1.5% of the REVV that he/she staked for the Elite League special event.
2 Week Yield Chart (All Tiers)
The staking yield percentage is the same for all Tiers and is based on the player’s Leaderboard position.
NOTE: The Total Winnings column in the table above shows only the amount of REVV gained, and does not include the original REVV stake that players will also withdraw after the event.
Be sure to check out theF1® Delta Time gameplay teaser on YouTube boasting improved resolutions and textures. The full gameplay of F1® Delta Time will be available to the public in October!
And keep your eyes peeled, because in the coming month we’ll be launching the first F1® Delta Time track sale. This will be your chance to own a portion of a race track in F1® Delta Time, allowing you to earn a REVV dividend from every race it hosts!
Any questions, give us a shout!
Have questions? Hit us up on social media at Twitter or Facebook, or join us on the official F1® Delta Time channel on Discord.
F1® Delta Time on Discord: https://discordapp.com/invite/dFBprfN
F1® Delta Time on Twitter: https://twitter.com/F1DeltaTime
F1® Delta Time on Facebook: https://www.facebook.com/F1DeltaTime
You can also find out more about REVV over at the official Twitter and Telegram channels.
REVV on Twitter: https://twitter.com/REVV_Token
REVV on Telegram: https://t.me/REVVCommunity
The F1 FORMULA 1 logo, F1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.