Platform Rules

1. Introduction

YETbet is a Pari-Mutuel Tweet-Based Futures Market platform that allows users to bet YET tokens on predicting future tweets from high-profile Twitter accounts. This document outlines the rules and guidelines for using the platform.

2. Account & Wallet

• User accounts are tied to Solana wallet addresses connected via Phantom or Solflare.
• Each user receives a unique PDA-derived deposit address for sending YET tokens.
• All platform funds are stored in a secure escrow wallet.
• Users are responsible for maintaining the security of their wallet credentials.

3. Deposits & Withdrawals

• Minimum deposit amount: 50000 YET
• Deposits require a minimum of 2 network confirmations before being credited.
• Minimum withdrawal amount: 1 YET
• Maximum daily withdrawal amount: 10000000 YET
• First-time withdrawals may require additional verification for security purposes.
• Withdrawal processing is automatic but may take up to 24 hours during high-volume periods.

4. Propositions & Betting

• 8 new propositions are created daily about future tweets from high-profile accounts.
• Propositions have a specified start and end time for accepting bets.
• Minimum bet amount: 100 YET
• Maximum bet amount: 100000 YET
• All bets follow the parimutuel betting model, where payouts are calculated based on the total pool size and distribution of bets.
• Once a bet is placed, it cannot be canceled or modified.

5. Fees

• Standard platform fee: 5% of the total betting pool
• Reduced fee for YET token holders: 5% (applies to users holding 4,000,000+ YET tokens)
• No fees on deposits
• Network fees may apply to withdrawals (deducted from the withdrawal amount)

6. Settlement & Payouts

• Proposition outcomes are determined based on the actual tweets posted by the specified Twitter accounts within the defined timeframe.
• The platform administrators have final authority on determining outcomes based on the published criteria.
• In case a proposition cannot be settled due to unforeseen circumstances (account suspension, technical issues, etc.), all bets will be refunded in full.
• Winnings are automatically credited to user balances upon settlement.

7. Prohibited Activities

• Creating multiple accounts to circumvent limits or manipulate odds
• Any form of collusion to manipulate betting outcomes
• Exploiting technical vulnerabilities or bugs in the platform
• Using the platform for money laundering or other illegal activities
• Attempts to reverse-engineer or bypass platform security measures

8. Dispute Resolution

Any disputes regarding proposition outcomes, bet settlement, or platform operation should be submitted to the platform administrators via the official support channels. The administrators will review all evidence and make a final determination based on the platform rules and the specific circumstances of the case.

9. Amendments

These rules may be amended from time to time at the discretion of the platform administrators. Users will be notified of significant changes, and continued use of the platform after such notification constitutes acceptance of the modified rules.