Lucky Ape FAQ

General Questions

What is the Ape Galaxy Lucky Ape contract address?

[insert contract address]

Is there a time limit on collecting my winnings?

No, apes can collect their winnings at any point in the future.

How is the payout calculated?

• Payout Ratio for UP Pool = Total Value of Both Pools ÷ Value of UP Pool

• Payout Ratio for DOWN Pool = Total Value of Both Pools ÷ Value of DOWN Pool

For example, if there’s 15 $GG in the DOWN side of a round, and the overall prize pool is 150 $GG, the DOWN payout ratio will be (150/15)=10x.

• Payout Amount = Payout Ratio × Position × (1 - Treasury Fee)

In the above case, if the round ends on a DOWN result, if you committed 2 $GG to a DOWN position, you’d get a payout of (2*10) × (1-0.03) = 19.4 $GG. Your profit would be 17.4 $GG (19.4 - 2).

The treasury fee is currently set at 3%: this may be subject to change. Any change would be announced on Ape Galaxies official communication channels. Treasury fees are used to burn $GG tokens.

What are the fees?

10% of each round's total pot will go to the treasury, which will be used to burn $GG on a weekly basis.

What are you using for your price feed?

Ape Galaxy uses two sources for the Lucky Ape price feeds. They each have their own purpose within the prediction market:

ChainLink Oracle

• Used for the Lock price and End price of each prediction market round. This updates in intervals of 5 minutes.

• Our prediction contract uses the ChainLink Oracle price feed to set the prices used to dictate whether a user has won or not.

Binance BNB/USD

• Used for real-time price updates on the Lucky Ape interface.

As we are using two different price feeds, the real-time price updates from Binance and the ChainLink Oracle price may differ by a small amount. However, they shouldn’t vary significantly.

The round's result changed after the round ended! Why?

Sometimes, after a round closes, the final result may be different from the last result shown while the round was live. If you watch a round end on "DOWN", it may appear to flip to "UP" a few seconds later.

This is because we use the ChainLink Oracle price feed to determine the final outcome of a round. The period between the end of one round and the start of the next is 30 seconds, but the Oracle refreshes every 20 seconds. It's possible that during this short period, the Oracle might send an update while the transaction to trigger the next round is being minted. This can appear to "flip" the outcome of the previous round.

About Positions

What happens if no apes enter an opposing position?

If only one side of a round has positions entered into it, then that side loses, the losing funds will be sent to the treasury.

For example: User A enters an UP position, no one else enters a DOWN position. User A loses, and there are no opposing positions for the winnings to be paid out to. Funds are sent to treasury.

What happens if the Locked Price and Closed Price are the exact same?

In the very rare occurrence that the Locked Price is exactly the same as the Closed Price, no one wins, and all funds entered into positions will be sent to the treasury to be used for $GG burns.

Can I change or remove my position?

No. Once you enter a position, you CANNOT change the direction, add to, or remove your position. It's locked in, so make sure you're 100% happy with your position direction before confirming.

Market Pauses

What does it mean when markets are paused?

Markets are paused when there are conditions which affect the reliability of the contract. Markets being paused means that no bets will be taking place for any rounds.

What causes Lucky Ape to pause?

Lucky Ape will pause under the following conditions:

• The prediction contract has been unable to obtain the price from the ChainLink oracle due to the oracle not having posted the price at the time the round has ended.

• The prediction contract has been unable to execute an action (ending a round or getting a price from the oracle) due to the tx being stuck in the mempool for longer than 15 blocks.

When will the markets resume after being paused?

The markets will resume when an admin manually resumes the market.

What happens to my position if the market pauses?

If the markets pause while you have a live position, your funds will be available to reclaim, the same way as you would normally claim your winnings.

To reclaim funds, you’ll need to pay some gas fees. We can’t compensate you for the gas fees, so please bear this small risk in mind before participating.