# ๐ Crypto Racers Genesis ๐
Ready to race?
Cracers Genesis: 5,555 [๐๏ธ](https://emojipedia.org/racing-car/)\
Blockchain: Solana \
First Forecast to Earn Ecosystem (F2E)
Future largest data gathering and sharing community [๐๏ธ](https://emojipedia.org/file-cabinet/)\
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# General
Racers are always in a hurry, here are the general details and benefits summarized for you
**Crypto Racers = Cracers**
Cracers is an NFT community that benefits from data gathering and sharing. One way the community gathers data is by hosting forecasting competitions, or races, where participants are rewarded based on their performance. Rewards incentivize racers to give their best thought-out personal forecast in order to win. The gathered data is then organized and shared back with the community.
**How can this benefit me?**
Data gathered from the participants can complement your trading, investing, and even betting decisions. Our first forecasting topic revolves around cryptocurrency prices. In the future, we will add new races with topics of interest to the community like: \
[๐ผ๏ธ](https://emojipedia.org/framed-picture/) NFT Prices\
[๐](https://emojipedia.org/chart-increasing/)Stock and commodity prices \
[๐ฎ](https://emojipedia.org/video-game/)E-game results \
[โฝ](https://emojipedia.org/soccer-ball/)Sport results
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Summarized **benefits:**
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1*.* Access all forecasting races and compete for $**SOL, NFT rewards, whitelist spots, and more!**
2\. Obtain community forecasting data and statistics to complement your trading/investing/betting decisions
3. Receive distribution earnings when we rent out our ecosystem or run race events!
4. Receive a free hover racer NFT
5. Access to the future Cracer lounge and marketplace in the metaverse
6. Being part of a community building a new unique ecosystem with endless potential and utility, let's race! \
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See you at the race! [๐จ](https://emojipedia.org/dashing-away/)
# Lore
Fast forward many years into the future. The human race has managed to avoid extinction ([๐ค](https://emojipedia.org/crossed-fingers/)) and becomes a level II civilization on the Kardashov scale. Now humans, aliens, robots, and cyborgs are all fighting to secure important planetary resources.
After years of fighting, it was concluded that it was more efficient to work together and support each other, teaming up against the universe's challenges.\
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Fighting for planetary control was replaced with planetary endurance racing, where the race winners get to control the planet's supplies and rewards. Supplies are valuable and vary from race to race, planet to planet. \
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Get ready to race and secure your rewards!
# Planetary Racing
Concept idea of our future interface. This is how it will look:
.jpg?alt=media\&token=2a42780d-8d01-4ed3-b58a-0e51662554f2)
Cracers will serve as visual representations of the racerโs real-time ranking. The better you score or rank, the farther your Cracer will advance in the race.
**Races take place on racetracks, and racetrack owners can decide on details, scoring mechanisms, and entry costs for the race.**
Races will have a unique racing interface where they will be able to visualize key information like
* Your Cracers ranking
* Other Cracers ranking
* Other Cracers forecasted information
* Race details and scoring mechanisms
* Active races and future/upcoming races
* Scoring history and win rates
{% hint style="info" %}
Addresses shown in the Cracers racetrack interface image are not associated with this project in any way and are only displayed for mere reference.
{% endhint %}
# Roadmap
**Collection Release:**
**5,555 C Racer Genesis Collection**
**Development:**\
**(Roadmap-specific timeframes will be shared after the complete mint)**
1. **Twitter, Discord, and Telegram race integration**: racers will receive live updates via their favorite apps.
2. **NFT race rewards:** Earn NFT race achievements. Use your NFT rewards to upgrade your hover, breed new pilots, buy a racetrack, or redeem them in our upcoming marketplace.
3. **Cracer Staking:** Stake your Cracers and earn more redeemable rewards
4. **Introduction to racekeepers and private racetracks.**
5. **Adding new forecasting races** depending on what the community votes on. New topics and duration.
6. **Marketplace introduction:** Exchange your race rewards/achievements and staking rewards
7. **Betting House:** Bet on or against your favorite participating racers
8. **Cracers metaverse lounge:** Members will be able to chill, participate in bets/events and discuss future forecasts
9. **Guild/team racing:** Team scoring system and new team rewards/achievements
10. **Charity Donations:** We'll find charitable causes, vote on them, and donate a percentage of the race earnings.
11. **Introduction to launchpad races:** Earn a % of the ownership of upcoming NFT projects that choose to partner with us. In exchange for sharing a % of ownership, new NFT projects will raise funds to continue their development.
12. **Community events, partnerships, and collaborations with other utility NFT projects**
13. **DAO:** Turn our project and community into a DAO where everything is decided and distributed based on our written community rules. Everyone can participate, the community owns the project. This is our final and most precious goal!
**Future Developments:**\
**Multi-chain:** expand to new blockchains so that racers from all corners of the web3 can join the community and thereafter grow the reward pools and forecasting data pool!
**Tools:** Develop unique NFT & Crypto Trading Tools for our holders.
And much more to come!
# Community
We are creating a vibrant community filled with healthy competition and participation.
We will be competing against each other, learning, growing, building, and, most importantly, having a good time. In the forecast to earn ecosystem, the rewards and benefits will always be distributed amongst everyone who participates.
Members will vote on and decide on future project developments. This is a community-driven project!
# Race Scoring
## Race Scoring
In order to score points and advance **in this race**, pilots need to predict the future price of a public asset. The **closer the forecasts are to the actual outcome**, **the better your racer will rank in the race and the higher the rewards you will receive.**
{% hint style="info" %}
If there are **two or more** values being forecast, your final race score will be the mean of your individual score
{% endhint %}
#### The following formula will be used to calculate the pilot's score per forecasted value:
$$
Score=\[|((Forecasted price-Real Price)/Real Price)\*1000|]
$$
EXAMPLE
{% hint style="info" %}
Final checkpoint and race scores with decimals will be rounded to the nearest whole number.
{% endhint %}
As seen in the table above, scores represent the percentual deviation from the real closing price.\
**Example:** \
**Score = 20 shows Deviation = 2%**\
**Score = 100 shows Deviation = 10%**
# Rewards and Distribution
## Inverse Score-based Reward System
At Cracers, we pride ourselves on providing a unique and fair reward system that offers exciting opportunities for all participants, regardless of their level of expertise in forecasting. Our innovative inverted score-based reward system ensures that rewards are distributed based on the accuracy of each participant's forecast, allowing those with the closest predictions to earn the highest rewards.
## How it Works
In each race, participants forecast the future price of a specific publicly traded asset for a predetermined date and time. They earn points based on their forecasting accuracy - the closer the forecast is to the real price, the lower the score.
The key aspect of our system is that lower scores are better. Think of it like golf - the fewer strokes (or in our case, points) you have, the better you've performed.
## Entry Fee Distribution
When participants register for a race, they pay an entry fee. This fee is distributed in the following manner:
**a.** 5% goes to the winner of the event (the participant with the best score). \
**b.** 5% goes to the Cracers community\
**c.** x% goes to other set royalties (this value varies depending on the type of race)\
**d.** The remaining fees form the reward pool, which is distributed among the participants based on the Inverse Score-based Reward system.
## Reward Calculation
To calculate the reward for each participant from the remaining pool (after distribution as per points a, b, and c), we follow these steps:
1. Calculate the inverse of each participant's score.
2. Sum up all the inverse scores of the participants.
3. Divide each participant's inverse score by the total sum of inverse scores.
4. Multiply each participant's proportion (from step 3) by the total reward pool.
Here's an example considering $50 of rewards for distribution and random scores:
Participant
Score
Inverse Score
Proportion of Total Inverse Scores
Reward
A
20
(1/20)=0.05
(0.05/0.125) = 0.4
(0.4x50)= $20
B
25
0.04
0.32
$16
C
50
0.02
0.16
$8
D
100
0.01
0.08
$4
E
200
0.005
0.04
$2
Total
-
0.125
1.00
$50
As seen in the table, Participant A who has the lowest score (closest forecast) receives the highest reward, while Participant E with the highest score (furthest forecast) gets the smallest reward.
This system ensures a fair and attractive reward distribution among participants, focusing on the accuracy of their forecasts.
On top of the reward, the best score, in this example Participant A, also receives 5% of all of the pooled entry fees.
# Race Example
### Example Scenario
Let's consider a forecasting event where the entry fee is $5 per participant and we have 5 participants (A, B, C, D, and E) in total. This means we collect a total of $25 in entry fees.
Now let's break down how this total entry fee would be distributed:
* 5% goes to the Cracers platform as a rental fee: 0.05 \* $25 = $1.25
* 5% goes to the best score of the event: 0.05 \* $25 = $1.25
* For this example, set royalties (x) are 0%, so nothing is deducted for this.
So, after these deductions, we have a reward pool of $22.50 ($25 - $1.25 - $1.25).
Now, we distribute this reward pool using the inverted Score-based Reward system:
Participant
Score
Inverse Score
Proportion of Total Inverse
Reward
A
20
(1/20)=0.05
(0.05/0.125)=0.4
(0.4*22.50)=$9.00
B
25
0.04
0.32
$7.20
C
50
0.02
0.16
$3.60
D
100
0.01
0.08
$1.80
E
200
0.005
0.04
$0.90
Total
-
0.125
1.00
$22.50
As seen in the table, Participant A who has the lowest score (closest forecast), receives the highest reward, while Participant E with the highest score (furthest forecast), gets the smallest reward. This system ensures a fair and attractive reward distribution among participants, focusing on the accuracy of their forecasts.
Also, Participant A, who has the closest forecast, would be considered the winner of the event and thus receive an additional reward of $1.25 (5% of the total entry fee). This means Participant A's total earnings would be $9.00 (from the reward pool) + $1.25 (winner's reward) = $10.25
This comprehensive and fair system of entry fee distribution and reward calculation ensures a transparent, engaging, and rewarding experience for all participants!
# Race Types
Up to now we have discovered these type of races which can be applied to the ecosystem!
1. **Reward race**: A reward race which has an entry cost, the gathered fees are thereafter distributed as rewards.
2. **Whitelist race**: A race which gives participants a chance to obtain whitelist spots for hot NFT project drops. Will also include SOL rewards but fewer than the Reward Race. The project providing WL spots receives a % of the entry fees in exchange for whitelist spots.
3. **Fundraising race:** A race which raises funds for an early stage project/idea. Participants get a % of the future project. Includes SOL rewards but fewer than the Reward Race.
4. **Charity race:** race to raise funds for a charity of the community liking.
