Architecture Of Betex Smart Contracts.

The primary objective of Betex smart contracts is to ensure a transparent betting mechanism for the shared pool of liquidity. Smart contracts have been built under the following restrictions:

The bet occurs through the transfer of the SBT token into a pool of conventional liquidity for a given event in the system;

The network commission (Ethereum) must be as small as possible;

Compensation payment (including commission transfer) is achieved through an original contract based on the data received from the Oracle.

The architectural system is based on the following smart contracts:

The SBT token agreement is by the ERC-20 standard. The SBT is a stable token (about the US dollar), whose exchange rate is artificially maintained, emissions and burns being carried out during exchange trades.

The swap deal is a smart deal for the automatic exchange from ETH to SBT and vice versa. The ETH/SBT rate is regularly updated with an oracle and artificially maintained at the 1:1/ USD level. By crediting ETH, the required amount of SBT is issued. When ETH is withdrawn, the corresponding amount of SBT tokens is burned.

It is also planned to implement time limitations on the use of tokens. If the token is not used in the Betex system for a specified period, it is automatically returned to the ETH source address. This can prevent considerations with tokens.

Betex smart contract is a management method for liquid pools (betting baskets). It accepts bids by moving the SBT token to a specific pool (basket) for a limited period. Once the waiting time has expired, the payment is redistributed among the players according to the Oracle data.

The smart contract of the Commission is the contract-aggregator of the commissions. It charges all the commission of the operations in the system. The distribution of commission is made by this contract once in a certain period (currently, once per 24 hours).

An original reference contract is a management contract of the reference program. Betex supports a single-level referral program and redistributes part of the commission to the referral addresses. This smart contract stores the necessary dependencies.

The implementation of smart contracts is carried out taking into account all modern practices and approaches, including surge controls, 100% test coverage and statistical monitoring. Of the gas used.