The OilZ.Finance team is focused on bringing new and exciting projects that utilize OAP and the latest and best methods for generating rewards for $OilZ token holders.
Our second project following the revolutionary OilZ Auto-staking and Auto-compounding token is OilZ.Finance Platform for Prized Linked Accumulating Yield, an easy and fun contest for $OilZ token holders. This project is proven as being a revolutionary way to get people to save more of the money they earn.
Participants deposit their $OilZ tokens into OilZ.Finance Platform for a chance to win a prize of more $OilZ using the OilZ V2 app on the website. Simply press the OilZ.Finance Platform button and follow the easy directions. Your tokens never leave your wallet, and you can enter and leave a contest at any time.
OilZ.Finance Platform improves on the PLSA model, because everyone who participates continues to earn $OilZ staking rewards with a different but still very high ratio.
Those who enter more $OilZ have an increased odds of winning the big prize, and once you enter you are automatically entered in every new prize pool until you withdraw your tokens. There is an EARLY EXIT FEE of 10% decreasing for the first 10 days you stay entered. So if you deposit and withdraw the same day, you will pay 10% of the OilZ tokens you deposited to enter the contest. This decreases by 1% over the next ten days
The amount of the prize pool per contest is determined by the amount of $OilZ deposited. More tokens deposited into OilZ.Finance Platform means a higher grand prize!
Winners are determined by random draw with those depositing more $OilZ having a greater odds of winning.
OilZ.Finance Platform is the next step in OilZ providing the best and latest in DeFi. It uses the power of OAP to create another winning project for $OilZ token holders.
The prizes are generated through a simple mechanism. When a new participant enters OilZ.Finance the amount deposited will automatically generate interest thanks to the OAP. This interest combined with all other interest generated by the deposits of other participants creates the Grand Prize.
This system is designed to allow participants to win a Grand Prize and participate passively in the prize pool, while keeping safe their deposited funds (which can be withdrawn at any time).
OilZ.Finance offers a passive income for all participants.
By depositing $OilZ under a Sponsorship feature, the OAP uses the deposited funds to generate a fixed interest. OilZ.Finance utilizes this interest to passively award all OilZ.Finance participants.
Each participant receives an amount of passive rewards determined by an algorithm that considers the amount of $OilZ deposited by each participant and the total amount of $OilZ in the OilZ.Finance. The more $OilZ deposited, the more passive rewards a participant will receive. Using Tap, these rewards occur in your interface and can be easily withdrawn by clicking the claim rewards button.
When users play a game they want it to be fair. Everyone who has contributed to furnish interest to the prizes must be eligible to win, and the prizes need the users' contribution to grow. Interest builds up over time, therefore OilZ protocol needs to measure and enforce the time that funds are held. Without this mechanism, it would be very easy to game the system by depositing right before a prize, having a chance to win, and withdrawing right after.
OilZ.Finance measures the duration of time funds are held by accruing days for each user, and it enforces the holding of the funds by setting a scalable and decreasing early exit fee. Once the early exit fee cycle (10 days) is completed, a user can withdraw the funds instantly with no loss. If the cycle has not been completed, the user can still withdraw, but will pay an early exit fee which contributes to the prize.
Early Exit Fee Cycle Duration: 10 Days. Early Exit Fee = initially 10%, which decreases by 1% every day until it reaches 0% at the end of the 10 days cycle.